9 Unexpected Ways to Reduce Motorcycle Insurance Cost

09 Oct 9 Unexpected Ways to Reduce Motorcycle Insurance Cost

Motorcycle insurance is a crucial investment for any rider, providing financial protection in case of accidents or theft. While many factors influence insurance premiums, there are several unexpected ways to reduce your costs. Let’s explore 9 strategies that you may not have considered.

1. Choose a Less Powerful Motorcycle
   The engine size and horsepower of your motorcycle can significantly impact your insurance premiums. Generally, motorcycles with smaller engines and lower horsepower tend to have lower insurance rates. If you’re looking to save money on insurance, consider opting for a less powerful model.
2. Opt for a Safety Course
   Completing a motorcycle safety course can demonstrate your commitment to safe riding practices. Many insurance companies offer discounts to riders who have successfully completed a safety course. Check with your insurer to see if they offer this type of discount.
3. Install Security Features
   Adding security features to your motorcycle can make it less attractive to thieves. Consider installing an alarm system, immobilizer, or tracking device. These features can help reduce your risk of theft and, in turn, lower your insurance premiums.
4. Limit Your Mileage
   If you don’t ride your motorcycle frequently, you may be able to qualify for a low-mileage discount. Insurance companies often offer lower rates to riders who have limited annual mileage. Keep track of your mileage and inform your insurer if you fall below the required threshold.
5. Consider a Higher Deductible
   Increasing your deductible can help you lower your insurance premiums. A higher deductible means you’ll pay more out-of-pocket in case of a claim, but it can result in lower monthly premiums. Evaluate your financial situation and risk tolerance to determine if a higher deductible is right for you.
6. Bundle Your Policies
   If you have multiple insurance policies, such as home or auto insurance, consider bundling them with your motorcycle insurance. Many insurance companies offer discounts for bundling policies. This can be a simple way to save money on your motorcycle insurance.
7. Maintain a Good Credit Score
   In some states, credit history can be a factor in determining insurance premiums. Maintaining a good credit score can help you secure lower insurance rates. Pay your bills on time and avoid excessive debt to improve your creditworthiness.
8. Ride Safely
   Safe riding practices can not only protect you from accidents but also lower your insurance premiums. Avoid reckless driving, follow traffic laws, and maintain your motorcycle in good condition. A clean driving record can make you a more attractive insurance candidate.
9. Consider a Classic Motorcycle
   If you own a classic motorcycle, you may be eligible for specialized insurance coverage. Classic motorcycle insurance often offers lower premiums than standard motorcycle insurance. However, eligibility requirements may vary, so be sure to check with your insurer.

Save on Motorcycle Insurance Premiums with Us

At Kevin S. Dougherty Insurance Agency, we offer affordable motorcycle insurance premiums. Contact us at Marci and Kevin today for personalized advice on motorcycle insurance or to get a quote. Our experienced team is dedicated to helping you find the most suitable coverage for your needs. Call us at (630) 575-0800 to get started.