Motorbike Insurance - It's Not Just About Your Motorbike
Before an insurance company determines the rate for the insurance of your motorbike
, they ask a lot of questions, not always about the motorbike but also about your lifestyle and your work. This is because these things can have a major impact on the likelihood of you making a claim.
When you take out motorbike insurance, the company takes a look at your motorbike or asks you the type and model of your two-wheeler. If your motorbike is a flashy model, expect a higher premium rate. This is just fair because you want value for your investment. Less showy models are given regular rates but the rate increases if you want comprehensive protection for the motorbike and the same goes for the latest or more expensive motor bike models.
If you thought that your previous car misdemeanour's will have nothing to do with the insurance rate, you are mistaken. Whatever your driving record, this will be evaluated. If you had one or more car incidents, expect additional premium on your motorbike insurance.
Unlike traditional life insurance which charges higher premiums for older policy holders, insurance companies offer a lower premium for those who are older but then if this is your first time at age 35 to use a motorbike, the insurance company will lump you in the higher rate group. More experience with a motorbike merits a lower rate. Generally, in this type of insurance, the younger you are, the higher your rate.
This may seem out of sorts but the insurance company needs to know where you drive to work and where you park your motorbike. If you are getting cover for theft or vandalism of your motorbike and you just park your motorbike anywhere possible, you might have difficulty convincing the insurance company to lower your rate.
Insurance companies have already identified high risk areas. If you live in an area with a high crime rate or an accident-prone location, insurance for your motorbike won't be cheap.
Insurance companies are thorough when they investigate insurance applications. For home insurance, for example, insurers won't readily accept protection rider for a home located in an flood prone area or they charge a higher rate for fire insurance if you are in the restaurant business.
If you want a lower insurance rate for your motorbike, aim for voluntary excess. Install alarms and secure a safe parking space because these precautions lower the risk of theft, lowering the insurance rate. If you don't use the bike to work, but use it for occasional leisurely spins and the mileage recorded is low, expect a lowering the insurance rate.
For the best motorbike insurance deal, shop for the lowest rates for more cover. Don't settle for less. You must get enough cover as a legal requirement, but it also protects you against theft and vandalism, damage to property caused by your motorbike, injuries you sustain due to an accident involving your motorbike and injuries to driving guests caused by your motorbike.
by: Tom Jones
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