Decoding Your Motorbike Insurance Quote: What Really Affects the Price?
As a motorbike owner, having insurance in place is vital. Although nobody relishes paying for insurance, it is useful to know what factors affect the cost of a motorbike insurance quote, so you can take steps to reduce it as much as possible. In this guide, we’ll be taking an in-depth look at the main factors that affect the cost of motorbike insurance, including age, bike type and location among other things.
Key points
What Are The Factors That Affect The Price of Motorbike Insurance?
- Your age: One of the biggest factors for any type of vehicle insurance is age and this is certainly the case with a motorbike. If you’re under the age of 25, then you’re likely going to pay more simply because it’s statistically more likely you’ll need to make a claim.
- The type of bike you have: The type of bike you have, including how powerful it is, will also have a big impact on how much you pay for insurance. Smaller, less powerful bikes are typically cheaper to insure.
- Your location: Where you live is another important factor insurance providers take into account. Some areas have higher crime rates and if you live in such an area, your cover is likely to cost more.
- Security of the bike: Insurance providers will also consider how secure your bike is, so any steps you can take to make it more secure should help to lower what you pay for insurance.
- Mileage: Bikes that have done more miles are more likely to develop issues and therefore will cost more to insure compared to a newer bike.
- Voluntary excess: You can increase the amount of voluntary excess on your policy as a way to lower the monthly cost.
- No Claims Discount (NCD): If you have built up a good NCD as a motorbike rider, then this should help to reduce your insurance too.
How much does motorbike insurance cost?
It’s impossible to give an exact price since it will vary a lot depending on the factors mentioned above as well as the total value of the motorbike. It’s always recommended that you get quotes from several insurance providers when you’re looking for motorbike insurance though, since this is one of the best ways to save money.
What is the best type of motorbike insurance to get?
This will depend on your budget and how much protection you want for your bike. If you want as much protection as possible, then a fully comprehensive policy would be the best choice.
Once I'm insured, will my motorbike be road legal?
Assuming that your bike is road safe and you’re fully qualified and licenced to ride it, then yes, having insurance in place will make it road legal, even if you only have third party cover.
In Summary
- The type of bike you have, your age and where you live are some of the biggest factors that affect the cost of motorbike insurance.
- You should take any steps you can to make your bike more secure in order to lower the cost of insurance.
- If you have a good amount of NCD built up, then you should benefit by getting cheaper cover with most providers.
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