How to Save on Motorcycle Insurance

How to Save on Motorcycle Insurance

There are roughly 7.4 million motorcycles on the road and over 100,000 injuries each year. With statistics like that, you want coverage that won’t break the bank so you’re covered if you break a bone. The following methods can help lower your monthly insurance cost and ensure that you are protected appropriately.

Enroll in Training Courses

Completing an approved safety course can help lower your monthly payment. These courses are great for individuals who are new to riding or have been in a previous accident. A basic driver course will combine classroom time with riding practice and will take 15 hours over a 3- day period. Some insurance providers will only allow you to use this discount every 3-5 years, but every little bit helps!

Be a Preferred Operator

Insurance companies look for preferred operators (someone who has a clean driving record). Keeping your risk low is extremely important because insurance quotes are largely based on risk. The longer you go without an accident, the lower your monthly payment will be. This includes fender benders and even speeding tickets.

Watch Your Mileage

You have your bike to enjoy it, and insurance companies understand that. However, how often you ride will affect your rate. If you are interested in lowering your rate, consider parking your motorcycle during the week or only riding during the warmer months.

Use Your Network

Did you know there are organizations for riders just like you? These groups have their own benefits and perks, but additionally, they can save you on your monthly payment! Some organizations include the American Motorcycle Association, the Motorcycle Safety Foundation, and the Harley Owners Group. Please note: not all organizations will provide discounted rates; these benefits vary by provider.

Adjust Your Deductible

If you have a high insurance rate, consider increasing your deductible to lower your monthly payment. Higher deductibles mean that you and the provider assume you have lower risks. This option may not be best for you if you are a new driver or if you’ve had multiple accidents.

Choose the Right Bike

Different motorcycles can have different rates. For example, a high-speed or supersport bike can cost significantly more than a traditional motorcycle. It is important to weigh these factors before you purchase a motorcycle. If you want a faster motorcycle and are fine with paying a higher premium, then go full speed ahead!

Check your Credit Score

Your credit score plays a crucial role in many aspects of our life, including our insurance rates. If you have a low credit score, work to raise it. Making your payments on time and being conscious of your spending can make a tremendous difference.

Get Covered Today

Are you a rider and interested in hearing about your coverage options? InsureTN is dedicated to finding the best policy for your needs. Call now to get your quote at 615-964-5250.

Comments are closed.