Whether you keep your classic motorbike for show purposes, or take it out for special trips on the weekend, your classic bike insurance ensures your bike is protected. But are there any ways to bring the cost of your classic bike insurance premiums down, even for such expensive machines? We’ve compiled a list of a few things you can do:
Improve security measures
Anything you do that makes your bike less of a risk for thieves to steal will likely bring down the cost of your insurance policy.
If you keep your pride and joy locked up in a safe place like a garage, add an immobiliser, install an alarm system, utilise bike tracking technology, these are things you can do to help bring costs down.
Do fewer miles
Whilst it is tempting to hop on your classic bike at each opportunity you get, the lower amount of miles you do – usually translates to cheaper insurance costs. So it could be worth thinking twice before you head out for a short journey.
A lot of motorbike insurance providers give cheaper premiums to those that pay for their policy in one lump sum, compared to those that pay monthly. So it’s always worth asking the question to the company before you sign the dotted line.
No claims discounts
Maybe an obvious one, but the more no claims years you have leads to increased discounts with insurance providers. It does vary from company to company, on how much you’ll receive as a discount so it is worth shopping around to find the best deal for you.
The amount you pay towards making a claim is your excess. And if you’re happy to pay more towards the cost of a claim then your insurance provider will reduce the cost of your premium.
Advanced rider courses
If you have an increased knowledge of using your motorbike out on the roads, you are considered less of a risk by insurance companies and so you could receive a discount. This is where advanced rider courses come in handy, not only do you gain vital experience, you can save money on your policy too.
*It’s worth noting that the above would not apply for vintage motorbike cover, only classic motorbike insurance. We define ‘Classic’ as 20-29 year old bikes.*For more information on how you can receive a cheaper classic motorbike insurance policy, get in touch with the team here at Carole Nash.