08:48
Unknown
There are some effective ways in which you can save money on bike premiums. It is important to cut the costs of bike insurance particularly as for many people this will be a second or even third vehicle. Below are ways in which you can save:
1. Build Up Your No Claims Discount
When it comes to any type of vehicle insurance your no claims bonus can be your best weapon against rising costs. If you can achieve 4 years worth of no claims bonus then you could save as much as 40% to 60% on standard bike insurance premiums. This is a significant saving and you cannot afford to overlook this.
It is a good idea to build up your no claims bonus and where possible avoiding making any small claims against your insurance.
Once you have around 3 or 4 years worth of no claims bonus on your bike insurance your insurance provider should offer you the chance to protect your no claims discount.
It is good practice to do this as for a small fee you can ensure that your no claims discount is protected in the future.
This protection will only cover you in certain circumstances and may not apply if you need to make a big claim on your policy (such as a complete write-off).
If you are new to bike insurance then you may not have any no claims bonus to use.
However in some cases you may be able to use any no claims bonus you have built up on another vehicle such as your main car.
This could help you get a discount on your first bike insurance policy so check if there are any providers available offering this kind of discount.
2. Consider Multiple Vehicle Policies
Many people don't realise they could add their bike to their main car insurance policy at very little additional cost. Many insurance providers can offer competitive multiple vehicle polices that could be more cost-effective than buying individual policies.
If you are thinking of including your bike on your main car insurance then make sure you check the full cover and costs. Compare the policy and make sure you are getting the cover you need at a competitive price. In some cases you may actually be better off to get individual bike insurance so it does pay to compare options before you take out a policy.
3. Shop Around
You do need to shop around when buying bike insurance. There are many different products available which can vary significantly in price:
Decide what type of insurance you need (such as fully comprehensive or third part fire & theft) and then get at least 3 different quotes to compare.
When you compare quotes check the cover offered and all of the costs (including excess).
This should give you the facts you need to choose the best bike insurance policy for your budget and cover requirements.
You need to look online when searching for savings on bike insurance. There are some great deals in the insurance market that are only available online.
You may also spot deals in the print media or on television adverts. Remember though that the best deals will not apply to all bike owners.
You will need to call the motorbike insurance provider directly and check what deals are available to you before you apply.
Article Source: http://EzineArticles.com/7028278
