While taking out some sort of motorbike coverage is a smart idea, finding the right policy can be quite complicated. This is because the terms and conditions are varied depending on the provider. To make sure you choose a comprehensive insurance plan that protects you while riding, it is necessary to ask the right questions. While these are many, below you will find five of the most crucial to consider.
What Counts as a Modification?
If you plan on altering your motorcycle in any way, you may find that this affects the premiums that you pay. For this reason, you should talk with your insurance provider and find out precisely what they define as a modification. If you install a lighter exhaust system or add some aftermarket disc brakes onto your vehicle, there’s a chance your motorbike insurer may end up charging you more on a yearly basis. By comparing plans before signing on the dotted line, you should be able to find a provider who is happy to cover your modified bike without any higher rates.
How Can You Lower Your Premiums?
There may also be some mods which lower the amount you pay each month so it is important to discuss the matter with your provider before signing the contract. Some examples of these alterations include:
- Installing an immobiliser on your bike
- Fitting the vehicle with a GPS tracking device
Of course whether these decrease your costs will depend on the terms of the insurance you take out. Do your research beforehand and discover new ways to lower the amount you pay!
Which Factors Increase the Risk?
It’s also important to work out how your lifestyle affects the coverage that you take out. When researching policy information for motorbike insurance plans, you may find a wide range of seemingly unrelated factors that the providers take into account when determining the premium charged. These include:
- Your profession. For example, a bartender may have to pay more than a school teacher for the same coverage.
- Your domestic arrangements. Those living with someone else may be rewarded with a lower premium than those living alone.
As your lifestyle drastically affects your insurance coverage, it is important that you find out which factors are taken into consideration.
What Options Are There for the Deductible?
While most countries have a minimum deductible required for motorcycle insurance, it can be a good idea to take out more than this. The reason is that your premium will then be lowered accordingly as you’re willing to cover more of the costs from your own pocket. Less risk for the company means a lower charge.
Just be careful not to be too enthusiastic when decreasing your insurance premium. Always calculate whether you can afford to pay that much deductible prior to signing on the dotted line. In this way, you won’t struggle to cover the costs if you get into an accident later on in the future.
Can You Purchase Seasonal Coverage?
Our last suggestion is to find out whether you can modify the policy depending on the time of year. For example, you may not ride as much during the winter time so there is no point paying for a fully comprehensive plan. Instead, enquire if you can just get the basic motorcycle insurance during that time, asking for optional extras only during the warmer months. In this way, you’ll still remain protected while riding without having to pay an excessively high premium throughout the year.
Finding the answers to these five questions will help you get the most out of your insurance plan. Good luck and safe riding out there!