When it comes to getting motorcycle insurance, the cost can be a deterrent for new riders. However, with a little bit of research and knowledge, it's possible to find affordable insurance options that won't break the bank. In this article, we'll cover some tips and tricks for finding cheap motorcycle insurance for new riders.
Understand the Factors That Affect Insurance Rates
Before diving into specific ways to save money on motorcycle insurance, it's important to understand the factors that affect insurance rates. This can help you make informed decisions about which coverage options to choose and how to present yourself as a responsible rider to insurance companies.
Some of the factors that can impact your insurance rates include:
- Age
- Riding experience
- Type of motorcycle
- Location
- Driving record
- Credit score
While some of these factors are beyond your control (such as age and location), others can be improved or mitigated. For example, taking a motorcycle safety course can demonstrate your commitment to safe riding and potentially lower your rates.
Shop Around
Just like with any type of insurance, it's important to shop around and compare rates from multiple providers. Don't assume that the first quote you receive is the best you can do.
When comparing rates, make sure you're looking at similar coverage options so you can accurately compare prices. You may also want to consider working with an independent insurance agent who can help you navigate the different options and find the best deal.
Consider Your Coverage Options
When choosing motorcycle insurance, you'll need to decide which types of coverage you want. In general, there are three main types of coverage:
- Liability: This covers damage or injury you cause to other people or their property.
- Collision: This covers damage to your motorcycle in the event of a collision.
- Comprehensive: This covers damage to your motorcycle from non-collision incidents such as theft, fire, or weather-related events.
While liability coverage is typically required by law, collision and comprehensive coverage may not be necessary depending on the value of your motorcycle. If you have an older or lower-priced bike, skipping these types of coverage can help lower your insurance costs.
Opt for a Higher Deductible
When you sign up for motorcycle insurance, you'll typically be asked to choose a deductible. This is the amount you'll pay out of pocket for any damage before your insurance kicks in.
Choosing a higher deductible can help lower your monthly insurance premiums. Just make sure you can afford to pay the deductible if you do need to make a claim.
Look for Discounts
Many insurance providers offer discounts for a variety of reasons. Some common discounts for new riders include:
- Completing a motorcycle safety course
- Being a member of a motorcycle association
- Purchasing multiple types of insurance from the same provider
- Maintaining a clean driving record
- Installing anti-theft or safety devices on your motorcycle
Be sure to ask about any available discounts when shopping for insurance. Even a small discount can add up to significant savings over time.
Conclusion
Getting motorcycle insurance as a new rider doesn't have to be expensive. By understanding the factors that influence insurance rates, shopping around, choosing the right coverage options, and looking for discounts, you can find affordable insurance that will protect you and your bike on the road.
