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Reducing your insurance premium


Insurance is a necessary requirement for all riders. You can’t avoid it but you can do your best to keep your premium low. Here are some tips and advice on the best ways to reduce your insurance premium:

  • The minimum level of covered required in the UK is ‘Third Party Only’ – this covers you for damage to someone else’s property but not for your own bike. If your bike is not worth much money, consider getting third party only to lower your premium. However, be aware that if you have an accident you will not get a pay out for any damage to your own property.
  • Add a voluntary excess. A compulsory excess is the amount you have to pay towards the cost of a claim, in addition to this you can often add a voluntary excess in order to reduce your premium. Be aware you will have to pay both the compulsory and the voluntary excess should you need to make a claim.
  • The best way to reduce your premium is by riding safely and not making any insurance claims. This will result in a No Claim Discount which can reduce your premium considerably.
  • Riding safely will also help you to avoid getting penalty points on your license which again will help to keep your insurance premium down.
  • Some insurers will offer discounts for riders who complete advanced training courses.
  • Taking precautions against theft such as an alarm and immobiliser can reduce your insurance premium, as well as giving you piece of mind. Similarly storing your bike in a garage will result in lower premiums than if you keep it on the street, especially in high crime areas.
  • Limited mileage – if you do less than 3000 miles a year many insurers will be happy to offer you a reduced premium.
  • When insuring your bike it is always advisable to use a specialist provider who fully understands and caters for the needs of a biker.

These are all great tips for lowering your insurance bill and if you take note of even just a few of the above you really can make a huge difference to your premium. However, always be honest and don’t lie about any aspect of your insurance policy as this can result in a claim not being paid out for non disclosure.

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