Five Things that Influence Your Motorcycle Insurance Premium

Your Credit Score

Yes, this is number one. Getting cheap motorcycle insurance is much easier when you have a quality credit score. A good credit score is considered as any score above 710. This does not mean that motorcycle insurance is unavailable for someone with a lower score, it just means that with a score at 710 or above you will most likely be able to take advantage of the greatest insurance rates.

If you have a credit score that is near 710, but not yet there, we recommend that you take the time to apply some methods for credit score improvement. Two of the most simple ways to quickly improve a credit score is to pay down credit card balances and to dispute any negative credit history that you have a solid argument against.

Your Deductible

The higher your deductible is the lower your monthly payment for motorcycle will be. There is a simple reason for this, because the higher your deductible is the more money you will be paying out in the event of an insurance claim. This not only reduces the risk of the insurance provider, but also most likely this knowledge will influence your quality of driving.

Your Driving History

Your history has a large influence in the price that you will pay for motorcycle insurance. The cheapest motorcycle insurance will go to individuals who have an extensive motorcycle history as well as a history that has very few, if any, claims against the driver.

Age can have a certain amount of influence in this regard. Older individuals tend to get lower rates on motorcycle insurance. So, the older you are, the greater likelihood you are going to find a quality, competitive rate on insurance.

Purchasing Batch Insurance

Buying insurance in batches is when you buy multiple types of insurance from the same company. Some companies offer discounts on insurance when it is purchased in addition to other insurance types such as life insurance, medical insurance, mortgage insurance and most commonly, car insurance. Call your insurance provider and see if they offer any discounts when you buy multiple types of insurance with them.

Type of Motorcycle

Without going into too much detail on various makes and models, let us simply say that typically the two most expensive types of bikes to insure are sport bikes, also called crotch rockets, and touring motorcycles. Crotch rockets are expensive due to their power and speed, touring bikes are expensive due to the amount of driving that is normally done on them.

Conclusion

Now that you know 5 of the most influential factors on getting cheap motorcycle insurance we recommend that you get multiple quotes to ensure that the company you decide on is offering you a competitive offer.

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