After publishing our recent post, why people need motorcycle insurance, we received several inquiries. Many of the questions bordered around cost:
- How to get the best rates of motorcycle insurance in Myrtle Beach?
- Who are the affordable providers of motorcycle insurance in Myrtle Beach?
Funnily enough, the answer to getting affordable motorcycle insurance rates and policies is more about you than the provider. Here is what we mean:
For example, at Aaron Miller Insurance, we are one of the most affordable motorcycle insurers. Regardless, our rates still depend on the insured.
We often consider the nature of the motorcycle to be insured. Is it luxurious, modified, or simple? How will the rider ride the bike (and with whom)? What mileage will be traveled? What are the required policies?
The answer to those questions often determines the cost of your motorcycle insurance. Nevertheless, there are ways you can reduce the limit.
Good news: we will share the SECRETS with you in this piece. So, keep reading!
Master Motorcycling
You don’t have to learn at the level of an FX motorcyclist. Nevertheless, improve your motorcycling skills. Doing so will reduce your premium and improve the lifespan of your bike.
When you master how to ride your bike, you will use it for a long time. More importantly, you will cut the episodes of accidents and repairs.
So, how does “all that” reduce the premium of motorcycle insurance?
Insurance companies trust a pro motorcyclist to commit fewer mistakes. As a result, they often offer discounted prices to these “pros.”
Key takeaway: be a pro, and enjoy discounted motorcycle insurance premiums.
But what if the journey to “pro” takes longer than necessary?
Start With Low-performance Motorcycle
For starters, we want to dispel the ruse that low-performance motorcycles are poor on the road. They are not!
Low-performance bikes are second-hand or old models. Nevertheless, they still come with average performance.
On the other hand, high-performance motorcycles are the talk of the town. They are expensive and more susceptible to theft.
Which of the two bikes do you think will command more premium?
Definitely, a high-performance bike!
Now, remember you’re not a pro motorcyclist yet. In other words, you’ll likely ram the high-end bike into poles. Meaning: expensive repair!
What if the high-end bike is stolen?
Insurance companies will cough up lots of money because of its replacement value.
Overall, consider your motorcycle needs. If you only need a bike to commute, you can do it with a second-hand or old model bike, even if you’re a pro motorcyclist. They are super affordable, and insurance companies love them.
If you don’t want second-hand motorcycles, how about a scooter with excellent performance that’s cheaper than the high-end bikes?
However, if you’re bent on getting a Harley Davidson kind of motorcycle, you can still reduce the premium slightly. But you must follow these steps:
Secure Your High-end Motorcycle
High-performance, luxurious bikes are the top target of theft. Insurance companies know and will likely ask for a high premium to neutralize the risk.
But with a security system, you can reduce the premium. You might need to install an alarm system or lock too.
Beyond alarms and locks, you should carefully handle your bike. If possible, park the bike in a secured garage rather than on the street.
Also, if possible, ride solo. Insurers can reduce your premium by at least 10% if you won’t onboard passengers. Why?
- You tend to focus more while riding alone and will avoid avoidable accidents.
- In the case of unavoidable accidents, insurers will only have to pay your medical bills.
Bottom line: show your insurer that your high-end bike has security systems and that you plan to ride solo. Such acts will significantly reduce your premium.
Put A Cap On Your Mileage
We are not saying you should walk on foot and park your bike 6days a week. Nevertheless, keep your mileage in check. Doing so will reduce the likelihood of accidents and expensive repairs.
More importantly, control your mileage because it’s one of the contributing factors to the cost of your motorcycle premium. How so?
Insurers check your average miles traveled per year. The higher the average, the more premiums you’ll pay.
Furthermore, you should stop biking for errands when you could easily trek. While you’re at, report your mileage to your insurer. You might win some bonus points!
Pay Your Motorbike Insurance Annually
We understand that monthly payments might seem cheap. However, they are not!
Paying annual motorcycle insurance helps you to avoid inflated monthly rates. Besides, insurers offer discounts when you pay your premium at once.
While you are at it, stick to the policies your motorcycle REALLY needs. Also, we’ll recommend that you pay for minor repairs. Why?
You can enjoy a “no claims” discount of 20%. But ensure your insurer offers such deals.
Summary
The best way to reduce your motorcycle insurance rates is to watch how you use the said motorcycle. The provider factor only comes to play after that.
Bonus: get free quotes for your motorcycle insurance HERE!
