Motorcycle insurance money saving toolkit

If you’ve had one eye on the news recently, then you might have noticed that the cost of motor insurance premiums in the UK is rising yet again.

Unfortunately, it seems that increasing motorcycle and general motor insurance premiums are an industry trend and one that looks like it’s here for the foreseeable future.

Repair costs for all vehicles are getting more expensive as their technology gets more advanced, while personal injury claims have increased in frequency and cost, too. There have been some recent reductions to the amounts of money being paid out on personal injury claims but they still represent a cost to all of our premiums.

With Insurance Premium Tax also doubling over two years, there’s not a lot in UK motorists’ favour to keep costs down.

Fortunately, there are a few things you can do to try to save money on your motorcycle insurance. Some of these are simple but are perhaps not known by everyone and they can all help to reduce the cost of the insurance that is essential for everyone to have.

We’ve pulled together some of our most useful money saving stories to help you secure your next motorcycle insurance policy for as little as you can.

1. How to get cheap motorbike insurance

This useful guide outlines some tips on how to reduce your motorbike insurance premium.

Whether it’s through specialist policies like a multi-bike deal or simply fitting an approved security device, there are lots of different ways you can nudge your premium down.

Learn how to get cheap motorbike insurance.

2. Training to reduce motorcycle insurance

Lots of insurers in the UK provide discounts for riders with advanced training qualifications, as long as they’re approved courses.

Even if there’s no direct discount for your insurance premium as a result of getting some post-test training, it can still help as being a better, smoother, more observant rider will all help you to reduce the chances of having to make a claim because of an accident.

We provide the lowdown on the approved courses available in the UK and the costs involved.

Learn how motorcycle training can reduce your bike insurance premium.

3. When is the cheapest time to buy motorcycle insurance?

We looked into historical quote data for customers on The Bike Insurer with a view to finding the cheapest day of the year to buy your motorcycle insurance on.

And we did, but we also found the cheapest month to buy, the cheapest time of the month to buy and the cheapest day of the week to buy your bike insurance too.

See when the cheapest time to buy motorcycle insurance is.

4. How is motorbike insurance calculated?

Lots of different factors affect the cost of your motorbike insurance policy and while you can’t change them, it can help to know a little bit more about the things that push your insurance up or down.

Essentially it all depends on risk. If you’re more of a risk to insure than other bikers, your insurance will cost more. Your risk is calculated on who you are, how old you are, where you live, where your bike is parked overnight and what bike you are trying to insure.

Knowing what risks your insurer takes into account means you know what you need to change to lower the cost of your insurance.

For example, if you’re considering modifying your motorcycle, it’s worth knowing that modifications, particularly performance mods, can increase the cost of your motorbike insurance premium – so it could make you think twice about it if you’re serious about saving cash.

There are lots of other ways of helping to potentially reduce the costs of your annual motorcycle insurance. One of the first ways to cut costs is to work out exactly what you need from your motorbike insurance – can you reduce the mileage you’re covered to ride? Do you really need pillion cover?

Are you able to make some simple security changes such as installing an approved ground anchor at your home to help reduce the chances of the bike being stolen? There’s also no need to pay for cover to ride to work if you never do that.

Find out how motorbike insurance is calculated.

5. The Bike Insurer Cheapest Price Guarantee

One thing we’re really proud of at The Bike Insurer is our Cheapest Price Guarantee because it can help bikers save money.

If you find a cheaper quote anywhere else online, our Cheapest Price Guarantee means we promise to beat it – saving you money if you manage to find a cheaper quote.

Learn more about The Bike Insurer Cheapest Price Guarantee.