When you’re looking for motorbike insurance, you might be wondering what factors will affect the price that you’ll be paying each month.
For some people, this type of insurance is quite expensive while others do not spend a lot at all. Knowing these factors will help you in determining how much you will be paying each month on the policy you have. Here are three key factors from MotorcycleNews.com that determine the price of the insurance that you have on your motorbike.
Your Age and Gender
Most insurance companies take your age and gender into consideration when giving insurance quotes to you for a motorbike. One example would be a younger male who is looking for insurance. Young men tend to pay more for their insurance because they are more of a liability than someone who is older and might be more responsible. Studies have suggested in the past that younger male drivers are at greater risk for getting into accidents than other ages and genders. This is one way that your motorbike insurance premium might go up and cause you to shell out more money every single month.
Your Driving Record
If you have a bad driving record, your insurance premium will go up whether you’re looking for coverage for a car or motorbike. A bad driving record includes points on your license, speeding tickets and accidents. If an accident was your fault, this will go against your driving record. If you’ve gotten into an accident in the past but you were not the one at fault, this will not affect your driving record and should not cause premium prices to go up either. Having a clean driving record for at least five years may help your premiums to go down, but this solely depends on the insurance policy you are taking out.
The Company You Use
Not all insurance companies are created the same. Certain companies charge an arm and a leg for a policy while others are very reasonable. The best thing you can do to ensure that your insurance premiums are not too expensive is to compare companies and determine which one is the best choice for you. You also might want to know that you can get free quotes online without having to actually take out a policy or provide credit card information. Just compare a variety of different popular insurance companies and you will be able to see what they are charging every single month. This is the best way to decrease the amount on your motorbike insurance premium so that you do not pay a ton of money.
Having the best insurance is vital if you’re driving a motorbike so that you know you and other drivers are protected. You will find that many different factors affect the price of your insurance premium. Whether you’re a new driver or you simply have a bad driving record, you should expect the amount to change depending on your driving history and the company you’re using.