Feeling The Pinch? Don't Cut Back On Motorcycle Insurance - Just Be More Sensible
Unless you've been particularly lucky over the past few years
, chances are you will have had to make some cutbacks in your day-to-day spending habits. The Bank of England cut the base rate to a mere 0.5% in March 2009, a low which it has remained at through to the current month of May 2010, to hopefully aid with increasing the confidence that people have in the economy and although it may have worked to an extent, it doesn't mean that things are any more affordable.When you start looking to cut back on certain aspects of your life because you cannot afford to continue to live the same level that you have been used to, one of the first things that most decide to cut back on is the items that they do not physically see, most notably insurances.
Unfortunately, although some insurances can be stopped, several can't and in the case of motorcycle insurance, it is a necessity should you wish to continue using your motorcycle.
If you use your motorcycle for necessary reasons, such as a commute to work, it is obviously almost impossible to stop paying for motorcycle insurance, as without it you would be unable to get to work, meaning no income, putting you in a worse place than you would be if you were to continue paying the insurance.
Therefore, rather than stopping payment of the motorcycle insurance all together, you should look to decrease the amount that you pay instead, something which is easy to do with the right knowledge.
To start with, use some of the major comparison websites to compare different motorcycle insurance companies. Even if you only did this 8 weeks ago to take out your new policy, you may have checked, for example, a day before a brand new promotion came onto the market, meaning that you could save a substantial amount of money by simply changing insurers.
If you believe that the insurance company you're currently with is the cheapest available, but you still need to cut costs, contact the insurer and speak to them. Like any business, insurance companies have an aim to make money, but they also have a duty to ensure that their customers are as happy and as content as possible with the service that they provide. Therefore, by speaking to them and explaining your situation, most will be able to advise on what action can be taken for your individual policy.
For example, you may have in place several additional services that you previously didn't think about paying the extra cost for, such as breakdown cover or misfuelling protection. Remove these from your policy, however and you will usually notice a distinct decrease in the premium amount.
If you have to look at your finances and make cut backs on your spending, remember that insurances are just as important as any other of your regular payments. The difference with insurance, however, is that rather than cutting back on them completely, you have the ability to amend the policy to reduce the monthly or annual payments - something that can extremely useful in times when savings need to be made.
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