How to Get the Cheapest Motorcycle Insurance

Maybe you’ve dreamed of owning a motorcycle your entire life or maybe you switched to two (or sometimes three) wheels because motorcycles get better gas mileage. Whatever your reason, now that you have your bike, it is imperative that you get motorcycle insurance. It’s too risky not to when motorcycles are inherently dangerous.

Nearly all states require motorcycle operators to have liability insurance. Motor scooters and mopeds are more of a mixed bag. Here’s a complete rundown of insurance requirements.

Unfortunately, motorcycle insurance, like most other insurance, involves a labyrinth of unfamiliar terms and hoops to jump through when it comes to getting the cheapest insurance. And most of the time you are paying hidden costs you never realized existed. If you already have motorcycle insurance, it is never too late to discover the many tips and tricks that can lower your premium and give you extra spending money. Studded leather gloves, anyone?

Safety Courses–When it comes to getting cheaper motorcycle insurance, “safety” is the magic word. Taking extra safety courses gets you special discounts because it shows the insurance company that you are invested in being a safe rider. When deciding which course provider you will choose, it is best to use a Motorcycle Safety Foundation-based course. They are known for their high standards, commitment to using regularly inspected bikes and for certifying their own coaches. Whatever course you choose, expect to pay between $125 and $250, depending on the course you take and your class location. You can offset the cost by getting in touch with safety awareness organizations and motorcycle manufacturers who sometimes offer tuition discounts to riders.

Take the stress out of paying your insurance premium–Paying your premium once a year is not ideal if you rarely have extra room in your bank account. Take the stress out of paying your insurance instead of paying your insurance in one lump sum at the end of the year, set up monthly payments, to take the sting out of the cost. Go one step further and save even more money by increasing your deductible. When you pay a couple hundred dollars more on your deductible, your premium lowers and that can save you up to 30% on your bike insurance.

Store your bike and save–“Safety” is not strictly defined by courses you can take or your driving record. Insurance companies also recognize motorcycle safety when your bike is not even in motion. Keeping your bike safe, either by storing it in a garage or installing an alarm might get you some discounts on your insurance.

Cost: Insurance costs depend on your location, age, driving record, type of bike, address and your job. And the cheapest option for you may not be the cheapest option for the next person. Devote some time to inquiring on the phone or online about the different insurance carriers’ quotes.

[Source: https://www.nerdwallet.com/blog/insurance/vehicle/cheapest-motorcycle-insurance-2/]