A lot of people don’t know any of these little tips and tricks for lowering the cost of your motorcycle insurance. Everyone knows about keeping a clear driving record and owning a less expensive, smaller machine. But these unusual tips may surprise you.
Handcuff Your Bike
Insurers often give discounts to policy holders that have an alarm, disc lock or store their motorcycles in a garage at night. Saving money on your motorcycle insurance should be reason enough, but add to that the safety of your beautiful beast and it becomes difficult to argue against such a precaution. More information here
If your motorcycle is kept locked tight and safe, the insurer need not worry about possibly paying out the cost of a new bike should yours be stolen.
Go Back To School
You can reduce the rates on your motorcycle insurance by taking riding safety courses. When shopping for your motorcycle insurance be sure to ask how much you would save by taking such a course. A small bit of time spent reviewing the basics can never hurt, can it?
If you have taken a safety course the insurer will classify you as a safer driver and give you a better price.
Multiple Driver Discount Party
If you have a young rider with points on their record then you will have to pay more. If you are a younger rider and able to put an older person on the policy that has no recent violations, then you could benefit from a lower rate. Adding an adult relative with an excellent driving record is your best bet for lowering the rate on your motorcycle insurance.
Use this knowledge to your advantage and calculate in advance who should be included on the policy and who needs to be left off.
Ride Your Bike Less Often
Another factor used to judge you is how many miles you ride your motorcycle each year. If you ride many, then you have a higher risk of having an accident. Insurers will want to know if your motorcycle is your sole means of transportation, primary means of transportation or merely a recreational vehicle.
Leave the lady lonely, and you will likely lower the price of your premiums on your motorcycle insurance. (This is a terrible idea!)
Pay for Your Insurance Annually
Paying for your motorcycle insurance monthly is a feature that costs you more. Not everybody can afford this option. You can often pay for a 6 month policy upfront and build up your reserves for the next 6 months during that time.
If you can afford to do so, you should pay for your entire policy annually or semi annually.
Keep your eyes and mind aware of what’s going on around you. Expect a vehicle to pull out in front of you at every possible opportunity. Always wear your protective gear and avoid accidents if you can.
Having an accident or making a claim for damages will usually cause your motorcycle insurance rate to go up.
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Bring the Costs Down
Car insurance for teenagers is more difficult to obtain at an affordable rate, so if you are looking for one, make sure you know what to do. A lot of families do the usual thing: simply add teenagers to the family’s existing car insurance policy.
But hold on a minute; teenage drivers pose different risks, and car insurance companies are aware of that fact. Thus, they can take advantage of that to hike up the price of your insurance premiums more than slightly.
Why the Price Hike?
It seems that there is a price hike when it comes to car insurance for teenagers, and this can be attributed to the fact that teenagers are considered as risky drivers. Check any car accident statistics in any area and you will easily see the reason why. Teenagers account for a large percentage of car accidents, and a lot of fatal car crashes involve young people between the ages 16 and 20.
Probability studies also show that teenagers are four times more likely to get involved in motor vehicle accidents than drivers in other age groups. Aside from current statistics, teenage drivers also lack the experience in driving, which raises the risks even more. And since car insurance rates depend on the risks, car insurance for teenagers can be quite expensive.
The Frightening Numbers
Recent statistics attest to this, as it shows that every year, more than 5,000 teenagers die in car crashes. An even larger number, recorded at around 400,000, get physically and sometimes fatally injured. In costs, teenagers are said to cause about 30% of the total cost of car accidents that occur in the United States. This is equal to about $26 billion dollars in all. And alarmingly, although the teenage population makes up only 10 percent of the total population of the United States, they account for 12 percent of the total number of fatal car crashes.
How to Save on Teenage Car Insurance
Fortunately, there are ways through which you can save on car insurance policy premiums for your teenage driver. It is just an accepted fact that car insurance for teenagers simply cost more, but if you know what to do and what factors to consider, you can save as much as possible. So what factors are important?
The type of car your teenager uses will affect the price of your teenage car insurance policy. Since a teenage driver has higher risks of getting into an accident, you have to find a car that balances the risks out even slightly. This means you have to get your teenager a relatively safe and a practical car. Getting him a fast and flashy sports car, which most teenagers usually want to drive, means an affordable car insurance policy will be impossible. To keep the costs down, look for a safe, practical car with lower horsepower rating. You should also go for cars with lower theft rates. Get him a car that’s sturdy though a bit bulkier and heavier. This will not only bring the costs down, but also help save your teenager’s life since such cars are harder to maneuver and drive fast. Thus, your teenage driver will be forced to slow down and drive carefully.
A teenager’s driving record is one of the most important factors that insurance companies consider when it comes to car insurance for teenagers. Make sure your teenage kid knows the importance of keeping a good driving record. Even minor car accidents and speeding tickets can hike up the price of your car insurance policy for teens.
A good driving record coupled by good performance in a driver’s education course can help you get better rates. Some states require attendance in driver’s education classes, while some do not. However, the value of such programs for car insurance companies is the same.
So whether your state requires it or not, look for a driver’s education program for your teenage kid to join. Even those offered by local high schools and community colleges will be enough.
Nevertheless, effective car safety education will always begin at home, so parents should also do their parts in educating their teenage kids about being responsible drivers. Setting a good example will also go a long way.
You can also avail of a lot of special discounts for teenage drivers. For example, good students are sometimes given good student discounts. So if your teenage kid is on the honor roll or gets pretty good grades, you can ask your car insurance company for special discounts in case they offer such promos. This is not a baseless discount, too. A student’s school record helps support a teenager’s credibility. Students who get better grades are found to be more responsible, which means they can exercise such level of responsibility to driving as well, hence the discounted car insurance rates.
Your Car Insurance Strategy
Before getting your teenage kid a car insurance policy, make sure to consider your overall car insurance strategy. Some decide to include the teenage car insurance into their existing insurance, while some get a separate policy so they can try and avail of special considerations and promotions for teenagers.
Teenagers can be exposed to greater risks of getting into car accidents. So when your teenage kid starts driving, don’t forget to avail of car insurance for teenagers for security purposes. Getting one, though, is not like getting a regular car insurance policy. Take note of the special considerations so you can avail of a good and affordable policy.
Saving money should be on all peoples mind in good and bad times. Unfortunately, something drastic has to go on in people’s lives for them to pay attention to the money they’re expending. If everybody would set their fiscal house in order, then a lot of people would be able to travel to Las Vegas and loose all the money they’re saving.
Lowering Auto Insurance Premiums – 3 Ways
In all seriousness, there are ways to save money that are really easy and simple. Making your lunch, for example, can save hundreds of dollars a year. There are even ways you can save on your auto insurance. Below are three strategies for saving on your auto insurance.
Adjust your coverages to suite your needs. I’m an insurance agent and therefore, I’m always going to recommend that you err on the side of having too much coverage. There are, however, things that you could probably go without. If you have a 1989 Honda Accord, for example, you might not need comprehensive and collision coverage. It’s important that you don’t trim too much on coverages because that can come back to haunt you. I almost removed full coverage from my vehicle and 5 months later I totaled the car. That would have been a much more painful experience if I had removed that coverage. But your coverages aren’t all off limits when trying to save.
Make sure you are receiving all the discounts you are eligible for. If you recently purchased a home, for example, you’ll want to make sure your auto insurance carrier is giving you a discount for that. Some carriers offer discounts for the type of work you do and even the level of education that you have. Talk to your provider to find out if you are receiving all the discounts you deserve.
Shop around. It never hurts to look at the menu even after you ordered. You may have been with the same company for a bazillion years and you feel like you are getting a fair price, but how do you know unless you check?
Auto insurance is always an area to look at when trying to save a couple extra bucks. Confirm you are sufficiently covered, but also ensure the coverages are all necessary. Discounts come in all shapes and sizes and you’ll want to take advantages of all available to you. Keep your company honest by checking around from time to time. You’ll be surprised by the savings a free market can provide.
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