15 Motorcycle Insurance Discounts you should ask for

by on March 11, 2011
in Industry News

I admit to being more than a little curious about how the insurance industry works when it comes to motorcycles, so when Pam King invited me to review this article about potential discounts, I felt that the information could really be useful to virtually anyone who owns a bike. Thanks to Pam for providing this piece for Biker Chick News!  ~ Corn Dog

by Pam King

When you’re in the market for motorcycle insurance, it’s important to shop around and make sure you’re getting the best deal possible. Before digging into the discounts, it’s important that you have a basic knowledge of how insurance companies decide your initial insurance rate. Some of these can translate into discounts so be sure to ask your agent about how they impact costs!

  • Type of bike – If you own a brand-new bike, it will be more expensive to insure than an older one. Additionally, elite brands of motorcycles are more expensive as well, since the cost of replacement is higher.
  • Your age – Similar to auto insurance, the older you are, the cheaper your rates will be. The only thing that could change this is if you’re new to operating a motorcycle. Some companies will put you in a higher rate category, in which case your age may not matter initially.
  • Your driving history – The cleaner your driving record, the cheaper the insurance. Unfortunately, even if you’re new to driving a motorcycle, past auto accidents can count against you.
  • Your geographic location – Where you live can influence the price of your insurance premiums. For example, if you live in an area that’s known for its high crime rate or high accident area, your premiums will be higher than someone who lives in a safer area of the United States.

Aside from these primary factors, there are many other discounts you may be eligible for on your motorcycle insurance. Doing your research before calling insurance companies will help you know the right questions to ask – and more importantly, which discounts are right for you. Because face it: discounts aren’t something your insurance agent will bring to your attention – you’ll have to ask for them!

Here are 11 of the most common ways you can get discounts on your motorcycle insurance. Some can save you up to 40 percent.

  • Low mileage discount – If you stay below a certain yearly mileage (usually predetermined on your policy), some companies offer a small discount. This is ideal if you use your bike for recreation instead of commuting back and forth to work every day.
  • “Mass transit” discount – This is basically the opposite of the above discount. Some companies can give you a break in your rates for using your bike as transportation to and from work.
  • Safe driver discount – By maintaining a good record with no moving violations or accidents, you may be eligible for a discount.
  • Organization discounts – Many times, you can get a small discount through local or national organizations. Popular organizations include the American Motorcycle Association, Gold Wing Road Riders Association, Harley Owners Group, Honda Riders Club of America, Motorcycle Safety Foundation, and more.
  • Motorcycle safety course – Participating in a motorcycle safety course within the last 24 -36 months can help lower your monthly premium. The window of time will depend on the individual insurance company.
  • Owning multiple bikes – Some insurance companies give a discount for having a policy that covers more than one bike.
  • Multiple policies with the same company – Many insurance companies, like Allstate and State Farm, will give discounts if you have more than one policy with them. For example, having home and auto, as well as motorcycle insurance, can save you money on your premiums.
  • Transfer discount – As competition in the insurance industry rises, companies have begun offering a discount when you transfer your policy from another company to theirs.
  • Anti-theft device – Having an approved anti-theft device on your bike can many times earn you a discount.
  • Safe storage – If your insurance company knows your bike is stored somewhere safe when not in use, you may be eligible for a discount. Why? Because having it locked in a shed or garage means it’s much less likely to get vandalized. And, it won’t have to withstand the wear-and-tear caused by weather as much as it would if it was stored outdoors.
  • Part-time drivers – Some companies give a discounted rate for those who drive the bike occasionally. These drivers are known as “part-time” drivers, and make the most dramatic difference when the part-time driver is young.

When talking with your insurance agent, be sure to ask for the above discounts – along with any others that are available through the company. Even getting a break on a few of these can save you plenty of money in the long run.

If you’re interested in learning more about saving on motorcycle insurance, be sure to read Q&A for Cheaper Motorcycle Insurance. It covers questions to ask yourself, and will help you have a productive, money-saving conversation with your agent.

About the Author:
Pam King writes on frugality, safety and insurance literacy for Direct General, a motorcycle insurance quote provider.

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    One Response to “15 Motorcycle Insurance Discounts you should ask for”
    1. Pam says:

      Wow! Thanks for the information in this post! Great stuff!

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