Ok, little tips here to help you lower the insurance premium for your motorbike, a few simple rules to follow when considering your insurance options.
Where do you park?
The answer to this question has a massive impact on the cost of your motorbike insurance. The best option according to the insurance industry is locked your own garage. If you don't have one, is it possible to use neighbours. This does not give the same benefit as having your bike parked in your own garage, but it will still bring your premium down. You can also buy specialist bike sheds for around 700. These are a worthwhile option if your budget allows, as it will give you the same discount as having your bike in a garage.
If you park on your driveway, you will get some discount, but not quite as much as if it was in a garage/shed. If you have any space on your property, use it to park you motorcycle overnight. Insurance companies do not like bikes to be parked on the road, as it is more likely to be stolen or damaged out in the open.
What security do you have?
There is a comprehensive range of chains, ground anchors and other security devices. Some companies build in security into new bikes. Honda has their HISS system, an advanced immobilizer. You can purchase alarms for under 100 and quality chains and locks can be bought for around 40 upwards.
Whichever security device you buy, be sure they are Insurance approved. This means that the insurance company has tested the security item, and that it meets their requirements.
Alarms and immobilizers give you the biggest discount, but chains and a lock make your bike harder to steal. If possible, get both.
How old are you, and do you have any No Claims?
Age, you can do nothing about. The younger you are, the more Insurance you pay, simple as that. No Claims Discount/Bonus or NCD/B is basically a discount the insurance companies give you for every year of riding without claiming. So, the safer you are, the less you claim on your insurance, the more NCD you can get. This can save you a massive amount, up to 40%!
In summary, insurance is an expensive, but necessary cost of biking. By following the items above you can save a decent amount on your premium, leaving you some spare cash to spend on goodies for you and your bike.
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