Motorcycle Insurance

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.

Modified bikes no problem for Bikesure

It’s not always easy for a 22-year-old to get insurance for a modified motorcycle.

But James Pheby was on a to a winner when he scooped a year’s free insurance from Bikesure in a competition with Visordown, which has saved him a cool £1000.

His Aprilia RSV1000R has a bored out engine to 1060cc, plus a non standard air filter, dynojet kit and custom lights, but that’s no problem for a broker which specialises in finding cover for modified bikes.

These pictures were taken at Cadwell Park earlier this year, and James says he usually uses his road standard Honda CBF Hornet on today’s busy and not-always-perfect roads.

Both bikes are covered on the same Bikesure policy, with all modifications covered on a like-for-like basis. The policy is also discounted because James, a hydraulics engineer from Thame, Oxfordshire, is a member of the Institute of Advanced Motorists.

James carried out all the modifications himself, with the exception of the bored out engine and Dyno tuning, over a two-month period, but this does not add to the premium – if it’s got an MOT then  all the modifiations are covered.

The other modifications were undertaken by Gavin and Shaun at MSG Racing, based in Aylesbury.

“It’s a lot of hassle getting quotes for modified bikes, but I’ve had no problems with Bikesure,” said James.

Robert Balls, of Bikesure, said “We love modified bikes. We can’t get enough of them. We’re particularly keen if it’s a bike that the rider has owned for a while and done the

work over a period of time.

“It shows they are an enthusiast, passionate about their machine and someone who’s put their own blood, sweat, tears and creativity into it.”

The thinking goes that this type of owner is extremely likely to take good care of their machine.

“The sort of person who does that has an emotional attachment to that bike and, as such, in our eyes, it can make them a better risk than someone who’s just gone and bought the latest sports bike off the shelf,” says Rob. “It’s quite possible that we can get

them a better deal than they would get on a standard bike.”

 

 

 

 

 

 

 

 

Finding cheap motorbikes to insure

Time lapse motocross by gpwarlow

Photo by Geraint Warlow (Click for image credit)

With hundreds of different models out there every biker should be able to find their perfect machine. But it’s not just about speed, manoeuvrability and ride: what about costs? Specifically, what about insurance costs? It’s perfectly possible to buy a bike and then have to fork out twice as much (or more) per year on insuring it.

Here the boffins at Bikesure, the freethinking motorbike insurance broker, offer a list of some decent bikes that won’t cost an arm and a leg to insure.

Japanese giant Honda is the biggest bike manufacturer in the world. The CB600 Hornet is a relatively cheap bike to insure and, according to motorcyclenews.com, it’s fun, easy to ride and offers great handling. The Hornet’s Nest is the home of the Hornet owners’ club and has loads of advice and information.

Other Honda bikes that are relatively cheap to insure include the 250 Superdream and the CB450.

Suzuki fans on an insurance budget should check out the GSF600 Bandit. Released in ’95, the first major changes were made in 2000 and include a bigger petrol tank and new steering geometry. Don’t let the relatively low insurance costs deceive you: according to Visor Down this is ‘a superb bike’ that spawned a host of imitators.

Kawasaki claims their ER-5, a 500cc naked commuter bike, offers ‘amazing fuel economy’. That’s a budget win-win when you add in its cheap insurance costs. If you have any questions then Bikers Oracle runs an owners club with an active
forum that may be able to help.

Bikers after a cheap-to-insure cruiser will find that the Yamaha XV535 and XV650 both fit the bill. There’s a selection of tourer spares and accessories for them at Motorbikes&Parts, a site that also offers a loyalty scheme which gives up to 20% discount.

Hog fans can find a cheap to insure machine in the Harley-Davidson 883 Sportster. In production for over 50 years, it’s a great looking bike with bags of pedigree. The Sportster.org site has a wealth of information for owners, including tens of
thousands of pictures, and a great tech section filled with essential maintenance tips. Once you’ve bought the bike, Jersey Harley-Davidson offers spares at VAT-free prices for online purchasers.

When it comes to insuring your motorcycle, the way to get the best price is to look around. It’s often worth ringing, too, as a good broker can be better at cutting costs than a computer programme. Whether you search around online or on the phone, be sure to ask Bikesure for a quote.

bikesure.co.uk | Specialist Motorcycle Insurance

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