Every motorcyclist needs insurance; it is illegal to drive on the road without motorcycle insurance. However, that is not the only reason to take out motorcycle insurance. Having insurance ensures that you do not have to count on unforeseen expenses in the event of an accident or theft. A good reason to take out motorcycle insurance!
But there is no good reason to overpay for motorcycle insurance. Getting your policy renewed automatically is often the easiest way to overpay. It’s a good idea to shop around and compare prices from different providers to avoid paying more than you need to for the same level of coverage.
Compare motorcycle insurance policies before taking out
A quick and easy price comparison makes it easy to get one motor insurance tailor-made. You simply fill in some information about yourself and your bike, and you are a lot further! By spending just a few minutes comparing motorcycle insurance, you can save hundreds of dollars a year.
Motor insurance can cost from a few hundred euros to thousands of euros per year. That extra security is a must to safeguard yourself and your motorcycle. But how much does motorcycle insurance cost? And which factors determine how much you pay for your insurance?
How are motorcycle insurance prices determined?
There are a number of variables that determine the price of motorcycle insurance. Knowing these factors can help you understand how the price is structured. As with auto insurance, the coverage options you select will affect the amount you pay in a monthly or annual premium. How much you pay for motorcycle insurance can be affected by a number of factors, including:
- The engine: the make, model, type and engine size. You probably already know that the value of your engine affects the cost of your insurance. Coverage for a brand new model will cost more than an older, used engine.
- Your age: Your age, just like your place of residence, can play a part in the costs of your motorcycle insurance. Often the following applies: the older you are, the cheaper the cover is
- Security: locks, trackers, and alarms
- Your damage and driving history: driving convictions or driving license points.
- The deductible you pay: the higher your deductible, the lower your premiums are likely to be.
- How you use the motorcycle: whether it is for commuting or business use. If you are a recreational rider the moto insurer will want to know, rates are usually lower for people who only use their bike occasionally. So the number of kilometers.
And a number of important factors play a role in determining motor insurance.
Like driving abroad: you are covered for driving abroad if your motorcycle insurance specifically covers it. You would do well to check this in advance so that you know which countries you can travel to and for how long.
Would you like to know more about tailor-made motorcycle insurance? The professionals of Diks Insurance are happy to help you choose the right insurance for your motorcycle!
I hope you are in health and well.
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