Tips to lower your premiums

It is obviously desirable to reduce your premium but remember to think about service and policy coverage as well. It can be worth spending a little more for better service.

No Claims Bonus - The best way to bring down your insurance premium is to keep steer clear of claims and earn some 'No Claims Bonus' – something that can sometimes be more easily achieved by sticking to a lower powered bike for longer than you would prefer to. A short to medium term sacrifice can make the insurance premiums on a more high powered machine a lot more affordable in the long term.

Be very careful about losing some, or all of your No Claim Discount. It makes a huge difference to premiums. You need to carefully consider the financial impact of making a claim. Remember that the purpose of insurance is to protect you from major incidents, not minor bumps and scrapes.

Security - Use a quality lock and alarm combination. 80% of Bikes are stolen in the back of a van, rendering most alarms useless. Using a good quality lock secured to an immobile object will deter most thefts.

Voluntary excess - If your insurance company offers voluntary excess, choose the highest excess you can afford. This can reduce your premium.

Shop around - The importance of shopping around should not be underestimated. Different insurance companies target different customers, so make sure you are using the best company for you. There are companies who specialise in policies for young drivers for example. Buying via the internet can save you money as online companies generally have lower overheads.

Limit mileage - If you ride under 5000 miles a year, some insurers will give extra discounts, however if you ride over this, be pre-pared to pay the difference or have your claim kicked out.

If you need other types of insurance, check if your insurance company offers discounts for taking out home and motor insurance with them.

Be aware of the value of your motorcycle - If you can afford to replace an older bike, perhaps you don't require a comprehensive cover. Even if it is completely written off, the most you will get if your motorcycle is totalled in an accident is its market value, which may only be a few hundred pounds. Weigh that against what you would save on your insurance bill.