Motorcycle Insurance Criteria

Like any insurance fund, being approved for motorbike insurance is all about odds and statistics. Namely, the odds of you ever claiming on your policy, which is determined by the statistics associated with your current history. Generally, the following five criteria are used by all motorbike insurance providers to determine whether or not you’re a risky investment, the higher the risk, the higher your premiums. This post is going to discuss these five criteria in detail to help you to get the cheapest deal possible on your insurance policy.

Just like any auto insurance agency, motorbike insurers use age as an indication of responsibility, and rightly so. Although age and responsibility don’t necessarily go hand in hand, most adults would agree that they were far less responsible in their youth, so it’s no surprise that young people are made to pay higher rates.

What kind of bike you ride is also a major determining factor when it comes to calculating your insurance premiums. Again, this is all about minimising risk. Because powerful bikes are considered more dangerous, they’re owners are going to be more likely to crash, and claim on their policy.

This third criterion might seem a little strange, but most insurance companies will take your address into consideration when deciding on your rates. This is because people who regularly travel though designated ‘accident zones’ are more likely to be involved in a crash.

What better way to decide whether someone’s a risk than to check their past history for road accidents? And not just crashes involving a motorbike either. Insurance companies take into consideration any crash you’ve been responsible for so it helps to have a clean record.

Finally, the location of your bike while you’re at work is also a major factor. For example, a person who parks their bike at a construction site every day faces an increased risk of damage, and your rates may be increased as a result.

These are the five most important factors motorcycle insurers will think about when you apply for cover, so it pays to keep them in mind. Remember too that you should never lie in an insurance application, as most insurance brokers will be happy to void your contract if they’re given a reason to do so. Instead, just be honest. You can’t change your driving history or your age, and we wouldn’t recommend moving house just to lower your insurance payments! At the end of the day, when it comes to insurance honesty is the best policy (no pun intended).

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