Cheap Motorcycle Insurance: Finding A Policy That Fits Your Budget

cheap_motorcycle_insuranceMaybe you have seen the Progressive ads boasting policies from 95 dollars a year and you started to wonder about how to get cheap motorcycle insurance for yourself as well. After all, the ever popular Progressive cashier and her newest policy holder both look extremely happy. Wouldn’t anyone be smiling like that after finding such cheap motorcycle insurance?

Cheap insurance for motorcycles does exist, but not one company is going to simply hand you a policy for next to nothing. If you want to save a little extra money to fill your tank a few more times over the year you are going to have to show that your risk is low and that you are an ideal customer for the company to have.

A Little Bit of Risk Goes a Long Way

Riding a motorcycle is considered risky by many people because no matter how experienced a rider you are you still put your risk in the hands of the drivers around you. Luckily, insurance companies don’t penalize you for the mistakes and carelessness of those who share the road with you. They look at you, your history and your current lifestyle and make their determination from there. Some of the factors that they take into consideration when determining a client’s risk are as follows:

Your Bike

Just like automobile insurance, motorcycle insurance is heavily based on make and model. If you have the latest sport bike that boasts high speeds and the quickest acceleration then it shouldn’t come as any surprise when your insurance premium is more than your friend with an older bike.

Take into account what type of riding you want to do when you are choosing a bike and then start to look at the insurance rates for each one. This may be a determining factor in deciding between two or more models.

Your Experience

If this is your first bike and you are riding it home right off the lot then you are going to pay more for your insurance policy. If you want  motorcycle insurance cheap then you are going to have to get some experience. Since this isn’t going to happen overnight, take a class through your Department of Motor Vehicles or other safety organization, just make sure your insurance company recognizes them as a training provider. This should help reduce your rates upon completion.

Your Lifestyle

Do you have a steady job? Are you married with children? Are you middle aged? If you answered yes to any of these then you will probably see some discounts as well. Insurance companies all look to these characteristics as proof that a person will be more cautious and responsible thus present a lower risk.

Your Driving History

Always the number one factor in determining risk on the road is the driving history. Even if you are a middle aged man with a wife and three kids driving a Honda Goldwing only on the weekends if you have racked up tickets over the years your insurance rates are going to soar.

Keep in mind that you driving history in your car counts just as much as it does on your bike so if you have crashed your car a few times but are extremely cautious on two wheels you will still see a higher rate.

In the end, finding cheap motorcycle insurance will be up to you. Do your research by calling around and negotiate your premiums using the information above as ammunition to save yourself a bit of money.

Jeff Orloff writes on insurance related topics for the Consumer Media Network’s Motorcycle Insurance (http://motorcycleinsurance.org) blog.

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