How can I find cheap bike insurance and other questions

In tough economic times, the subject of cheap bike insurance may be dear to the hearts of large numbers of bikers.

Here are some commonly heard questions on the subject.

Where can I find the cheapest bike insurance possible?

It is typically a sensible idea to shop around and perhaps try those sources that may be able to provide you with options from multiple insurers.

This may save you time and also allow you to find cost-effective solutions to your bike insurance needs.

However, it may be advisable to think twice about commencing the search for your cover on the basis of looking for cheap bike insurance alone.

It is typically a smarter idea to look initially for cover that is suitable for you and your bike, rather than simply the cheapest price tag you can find.

Remember that if you need to make a claim, only to discover that the policy does not cover the circumstances, the fact that the policy has not cost you a lot of money will not be of any consolation.

Why do motorcycle insurance premiums vary so much?

This is a difficult question to answer succinctly, as there are many different factors involved.

Perhaps the most important is that insurers do not necessarily assess risk in the same way. This means that some insurers may consider certain combinations of rider and bike to be a higher risk than other insurers may do. That typically affects their pricing of the policy.

It is also the case that some insurers may specialise in certain categories of cover, such as classic bike insurance or convicted rider cover etc.

They may be able to offer more cost-effective solutions in those areas of cover than other insurers.

This is why companies that can analyse your individual situation and identify where to place the risk (in other words, to find appropriate insurance) may be useful.

Can I control, in any way, how much I am paying for my insurance?

Typically, yes.

Of course, the extent to which you are able to do so may vary considerably between insurers and this may also make a significant difference to your perception as to what constitutes cheap bike insurance. After all, what you consider cheap motorcycle insurance may not be so for another biker.

Classic illustrations of this may include things such as:

  • accepting a higher excess on the policy;
  • reducing the risk of theft and vandalism by ensuring that your bike is garaged securely when not in use;
  • reducing your annual mileage estimate; etc.

So, do cost-effective motorbike insurance deals exist?

Yes, though you may need to look for them or have help to do so.

For the reasons outlined earlier, you may find it helpful to think in terms of cost-effective cover, taking into account your own situation and your requirements, rather than cheap bike insurance.