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Lowering bike insurance premiums for young riders

Lowering bike insurance premiums for young riders

 

Passing your driving test and riding your motorcycle for the first time is a rite of passage that comes with a feeling that many bike owners may find difficult to surpass. However, if you are a young rider, there is one obstacle you will need to surmount before you head for the open road: insurance.

 

Unfortunately, younger riders are most likely to pay higher premiums due to their lack of experience on the roads, as well as the increased likelihood that they may be involved in an accident. Motorcycle insurance is a legal requirement in the UK, so finding an affordable and suitable policy is a challenge that must be tackled by all. There are insurers out there who will offer you a deal, so do not give up. For instance, you can insure any bike, any age at MCE Insurance.

 

The most obvious way of lowering your premiums is to go for a more basic level of cover. Just like car insurance, motorbike insurance can be purchased covering the basics and beyond. The lowest level of insurance you can take out is third party, which will cover you for payments made to victims of accidents where you were at fault or have damaged property. The mid-range option is third party, fire and theft, which also offers protection should your bike be stolen, damaged or destroyed through fire. The highest and most expensive level of cover is fully comprehensive, which has the added benefit of covering damage to yourself and your bike even if you are involved in an accident that is not your fault.

 

Of course, choosing the most basic option of these three may save you substantial cash in the short term, but will result in a painful and expensive sting should you be involved in an accident or have your bike stolen. Similarly, agreeing a higher excess on the policy will help to lower your premium but could leave you significantly out of pocket should you need to make a claim. It's therefore wise to consider other ways you can reduce your costs without lowering your level of cover.

 

Many young riders choose to complete advanced rider courses with the likes of IAM, ROSPA and BikeSafe, as these are often viewed favourably by insurers and in some cases can lead to a discount on your policy. In the insurance world, safety speaks, so as well as proving your ability it's wise to opt for a lower performance vehicle that will be judged as a lower risk. You can always work your way up to riding heavier high-performance bikes as you gain more experience and have an established no-claims bonus.

 

Improving the security of your vehicle will also count strongly in your favour. Storing it off the road and in a garage should lower your premium and you should look for ways to protect it when you are out and about too. In addition to having security markings put on the parts of your bike, there are a range of devices you can purchase to help keep your bike safe from thieves. These include alarms, immobilisers and the use of locks and chains.