Motorcycle Insurance

Money saving tips for motorcyclists

Money saving motorcycle tips

 

Everyone seems to be looking for ways to cut expenditure, so the we have compiled some suggestions to help bikers save a few quid.

 

Bikesure bikes

 

  • Insurance. It’s a false economy to cut corners with insurance, be honest and be covered. Failing to disclose all information is fraud and can result in invalid insurance and even criminal convictions, not to mention a hefty pay-out if you can’t claim. Another saving is on mileage limits – be careful not to overestimate it, especially if you will not use your bike all-year-round. Third party insurance is not always the cheapest, so it is always advisable to get a quote for comprehensive insurance as well. Specialist insurance policies offer savings. There are policies especially for young riders, custom bikes and classic bikes etc.

 

  • Join an owners’ club. By joining an owners’ club not only will you get access to a wealth of knowledge and tips, but you can also get discounts. For example you can cut your insurance premium by up to 20% with Bikesure.

 

  • Petrol. There’s a lot of savings to be had where fuel is concerned. First of all, reduce the amount you use by making changes in the way you drive, accelerating and braking more gently to boost your MPG. There are a number of credit cards that offer cashback when you refuel, such as the Santander 123 card, which offers 3% cashback on spending at petrol stations. There are often supermarkets offering fuel discount vouchers. Another way to save is by looking around for cheaper fuel in your area, with sites such as petrolprices.com.

 

  • Check your bike.  Make sure your bike is regularly serviced to keep it working in tiptop condition and running efficiently. By regularly checking your bike you can spot and sort issues before they escalate into bigger and more expensive problems. Bike Trader has a list of daily checks to do, such as oil levels, suspension and drive chain.

 

  • Tyre pressure. Check tyres are inflated to the correct levels, as this saves fuel and increases safety.

 

tyre pressure

 

  • Carry out servicing and minor repairs yourself. By learning how to change your own oil and filter and carry out other maintenance tasks you can save yourself lots of cash. Trusty Haynes manuals help with basic servicing and repairs.

 

  • Security. By investing in the best security possible for your bike, such as a decent lock and chain, ground anchors, alarms, immobilisers, trackers, etc., and by storing the bike in a garage or shed, you can cut pounds from your premium for years to come (and, of course, make your bike harder to steal).

Club members and tourers benefit from new insurance schemes

Motorcyclists can benefit from bigger discounts and tailormade cover thanks to specialist insurance broker Bikesure.
The broker has introduced two new schemes to reward owners club members and cater for touring bike riders.
A new owners club scheme only available to members provides discounts of up to 25 per cent.
And the tourer scheme is a tailormade policy including standard features such as:

  • Sat nav cover up to £250
  • Accessories covered up to £1,500
  • Free cover for most European countries for three months in any one year
  • Cover for bikes valued up to £30,000

Rob Balls, of Bikesure, said the two new schemes would provide great savings and specialist cover for dedicated enthusiasts.
“We know from experience that members of owners clubs are more likely to take care of their bikes much better than non members, and so we’re happy to reward them with bigger discounts than ever before on our owners club scheme,” he added.
“The tourer scheme is specifically designed for those who take to the roads for longer trips, taking into account the extra equipment and accessories needed for British and European touring.
“We hope that these new policies, added to our existing schemes, will help provide even greater value for our customers.”
Bikesure is one of the UK’s leading specialist insurance brokers, with schemes covering everything from standard road bikes to modified, imports, superbikes, scooters, trikes and quads.

How to save money on your bike insurance

With summer around the corner (believe it or not), many will be looking to renew their motorcycle insurance. But are you paying too much? You can keep down the cost by following specialist broker Bikesure’s top tips.

1) Fitting a security device such as a tagging device, alarm, immobiliser or tracker will lower your insurance bill substantially. Parking in a garage or locked building will also drive down costs. Good quality physical locks will also be a great deterrent to theft, particularly if the bike can be locked to an immobile object or anchor. Look out for items that are “Sold Secure Gold” approved. Many of these will also attract a discount and help prevent theft, which is the ultimate aim.

2) Members of a UK owners or riders clubs often receive discounts up to 15 per cent as “enthusiasts” represent a lower risk to insurance companies.

3) Ride sensibly – the more points you have on your licence, the higher the cost of your insurance. One speeding conviction could bump up your premium by around 10 per cent, but two may cost you up to 25 per cent more. If you have a conviction for using a mobile phone while driving, it can increase your premium by a whopping 50 per cent.

4) Modifications that improve the performance of your bike can increase the premium, although specialist brokers like Bikesure offer very competitive modified bike schemes. Make sure your insurer knows about all modifications – failing to declare them could invalidate your policy. Modifications include anything which doesn’t come as standard on your bike. Sometimes specialist custom bikes can actually be cheaper to insure!

5) Opt to pay a higher voluntary excess on any claim you may make. The higher your excess, the cheaper your car insurance – remember that many people find that claiming for less than £500 worth of damage loses them their no-claims bonus and increases the future cost of their insurance. Ensure you can afford to pay the excess if you do have to make a claim.

6) Consider limited mileage insurance if you only ride rarely or for short distances. In standard insurance policies, you have to pay a fixed insurance premium regardless of how often you drive, but limited mileage policies are specially underwritten for bikers who ride less. You will be asked to sign mileage declarations and these will be checked in the event of a claim so, as always, honesty is the best policy.

7) It may sound obvious, but many bikers are caught out by high premiums because they didn’t check the possible cost of insuring their new bike before making their purchase.

9) Be honest with the valuation of your bike – the truth is that no matter what you value your bike at, insurers will only pay out the current market value of a vehicle in the event of a claim, so inflating the price of your bike will do nothing other than potentially push up the price of your premium.

10) If you do not take pillion passengers, tell your broker as this will often attract a discount on your premium.

11) Consider taking an additional or advanced riding test or course to lower your insurance premium. There are several that attract discounts for your insurance and you’ll hopefully come out of it a much better rider.

bikesure.co.uk | Specialist Motorcycle Insurance

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