Always buy from a reputable company
This may be the insurance company itself or (probably more usual) an intermediary such as a broker or consultant. Whilst there are differences between broker and consultant (a broker, for example, must be a member of the Association of Chartered Institute of Insurers), it has to be said that, from a consumers point of view, there is little importance to be attached nowadays to the difference between the two - provided of course all are controlled under the Financial Services Authority. For the purpose of this section we shall assume the business you are buying from is a broker but our remarks equally apply to consultant or insurance company direct.
Know and understand basic insurance jargon before you start looking.
Be clear about what is covered/not covered by the policy - eg: foreign travel/ breakdown etc.
Be clear about the terms and conditions of your proposed policy.
If you have special requirements/concerns/doubts, it is a good idea to put these in writing to the provider before you take out the insurance.
Know and understand the brokers own terms and conditions (separate from the insurers terms and conditions). For example some brokers charge fees over and above the premium on:
-Renewal
-Mid term adjustment
-Credit arrangements
-Cancellation
-Installment arrangements:
If you are to pay by instalments, be clear what premium and what administrative fees you are likely to pay - particularly if you were to cancel mid term.
Non-acceptance of your proposal by the insurer:
When you take out insurance you normally receive a cover note which applies until the full policy is issued. If the insurer is not happy with your application and ultimately refuses to cover you, then you need to be clear what your financial liabilities are in those circumstances.
Shop around for the best deal.
But remember that the best deal may not be the cheapest. What, for example, is the reputation of the insurer in the event of a claim having to be made.
MAJOR WARNING:
When taking out insurance don&undefined;t tell lies - an invalid insurance policy can be disastrous for you. We have even known it lead to bankruptcy in the event of a claim against you. If for one reason or another your insurance company invalidates your insurance you are personnally liable to others.
How to reduce your motorcycle insurance premium
Motorcycle insurance is one of those annual bills that there really is no escaping. But the cost of renewing your policy is not completely out of your hands. There are a number of things that you can do as a bike owner to find a cheaper motorbike insurance quote.
Capping your mileage is a good start. Most insurers offer discounted rates for people who dont use their bikes that much. Security is also an issue - the more you can do to protect your bike from getting stolen or damaged the better it will be for your bank balance when you come to renew your premium. Getting a garage will help, but failing that you could always move to an area where there is less crime!
As well as taking care when your bike is off the road, it is also important that you take care on it as well. Keeping your speed down and avoiding getting points on your licence will help keep your insurance costs down.
A cautious approach to the road will also help avoid wear and tear. Thrashing your bike around, especially in bad conditions, is a shortcut to accident & emergency and will also hit you wear it really hurts - in the wallet. If you treat your bike well then it should return the favour but getting a reliable ride in the first place is obviously important.
If you really want to save on your bike insurance the best thing to do of course, is to not have a need to claim. Making a claim will not only cost you your no claims bonus but will also push up the cost of your renewal.
Cheaper motorcycle insurance is also something that comes to those who wait. Wait to get old that is. Older riders, like older drivers, tend to make fewer claims and can therefore benefit from lower premiums.
