Motorcycle insurance is similar to regular auto insurance in many ways in terms of cost-cutting strategies, but there are other factors to consider. The best way to lower rates is to maintain an excellent driving record and practice safety. Here are some of the most common ways to find cheaper motorcycle insurance rates.

Earn No-Claims Bonus

The fewer accident claims you file, the more it will help you to maintain a low rate on motorcycle coverage. In your first year of coverage, you can get a no-claims discount of as much as 40 percent. Getting past the first year with no claims filed will be advantageous for years to come.

Learn About Cashback Website Benefits

Cashback websites reward customers when they make purchases. Look for motorcycle insurance companies that partner with cashback sites. QuidCo is a popular cashback site that provides tools for comparing motorcycle insurance rates and cashback commissions.

Limit Your Number of Coverages

There’s a wide range of motorcycle insurance coverages on offer, but that doesn’t mean you need all of them. Assess your coverage needs by how often you ride. Your residence and its zip code will partly affect your premium, as low-crime areas offer lower rates than high-crime areas. The more frequently you ride your motorcycle, the more coverage you’ll need.

Pay a Lump Sum

Motorcycle insurance premiums can either be paid monthly or annually. The reason it’s better to pay a lump sum annually is that you won’t have to pay extra interest costs that are added to monthly payments. You can pay the lump sum with a zero percent credit card, which you can then pay off monthly. You can also pay the sum without disrupting your finances by building a savings account that funds insurance and other financial responsibilities.

Limit Your Mileage

Another way to lower your motorcycle insurance rates is to limit your mileage. If you invest in a motorcycle for joyriding, this might not be an option. But if you mainly use a motorcycle to get from point A to point B, consider using a bicycle or walking for short distances. Also, avoid riding during the winters when the road is slippery and dangerous.

Solo Ride

One of the main attractions of a motorcycle is that it can be used as a solo vehicle, which helps save money on both fuel and insurance. If you like to ride with a partner, be aware that it can raise your motorcycle insurance costs. Inform your insurer if you only intend to ride solo and ask if it qualifies for a discount.

Compare Websites

You must not pick the first insurance quote that you find online. It’s better to use a website with price comparison tools or data to find out what the options are. You can also use the information to bargain with your insurer while renewing your existing coverage.

Consult with Scautub Agency LLC

If you have questions about cheaper motorcycle insurance, contact our team here at Scautub Agency. We will assist you in customizing your motorcycle insurance with lower premiums.

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