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Reducing Motorbike Insurance Costs for Young Riders

young motorcyclistsIt’s exciting for young riders to pass their driving test and get ready to purchase their first motorbike. Of all the aspects of getting your first bike, the insurance process can end up being quite expensive. Young drivers are considered to be a high risk group. As such, they have a great probability of being involved in an accident. Insurance companies consider this risk when determining the cost of motorbike insurance. This means higher insurance premiums for young riders. However, this doesn’t mean all is lost. There are some steps young riders can take to help keep their insurance costs down.

When a young rider selects insurance, one aspect of coverage that affects the price is the amount of excess. Generally the lower the amount of excess means the higher amount for the premium. By obtaining a policy with a higher excess, the premium cost can be much more reasonable. Keep in mind that when setting the excess amount, you want to make sure that you can afford it in the event of an accident.

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As a new motorbike rider, the selection of a motorbike is another factor in determining your motorbike insurance premium. If a young rider opts for a high performance motorbike, they will pay a high insurance premium as these bikes costs more to repair and are more apt to be involved in an accident. Choosing a motorbike with a smaller engine is the best choice. Also a used model will be cheaper to insure than a brand new one.

Bike storage is another way in which your insurance premium can be affected. Storing your bike off road in a garage will result in a lower insurance premium. IF this is not possible, consider investing in some security device to protect your bike.

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