6 ways to save money on motorcycle insurance

Love your motorcycle but hate how much insurance you have to pay? Here are six easy ways to save money on your premiums that you can start doing right away, whether you ride only occasionally or every day.

A high-performance motorcycle will be more expensive to insure than one meant for regular use. If you are on the market for a new bike, avoid those at the higher end of the price spectrum.

If you are a newly-qualified rider, you are statistically more likely to get involved in an accident and file an insurance claim. Learn how to ride your bike safely by enrolling in a registered motorcycle safety program.

• While advanced motorcycle education may be costly, you could make an instant return on your investment in the form of reduced insurance premium costs.

The cost of motorcycle insurance will reflect the level of risk you pose: the more you use your motorcycle, the higher your premiums will be.

• Your motorcycle insurance will usually be cheaper if you ride for leisure rather than business, and if you ride alone rather than with a passenger.

Your insurer will consider these factors when calculating your premiums, so be sure to provide them with the information they need to price your premiums accordingly.

The more secure your motorcycle, the more you will save on your insurance premiums. To increase your bike's security, practice secure parking best practices.

• Fit the vehicle with locks, chains, anchors and alarms to reduce the risk of theft and vandalism.

Increasing the deductible, which is the amount of money you must pay towards a claim, is an easy way to reduce the cost of motorcycle insurance.

• Don't raise the deductible too high or you may end up paying more out of your pocket in the event of a claim.

If you think your current insurer will offer you a great deal at renewal, think again.

• Compare motorcycle insurance quotes from several insurers before your policy expires.
• Once you have found a policy that meets your needs, inquire about discounts and don't be shy when negotiating a price.

If motorcycles are your passion, don't let the cost of insurance spoil the fun. With some research, you can save on motorcycle insurance and still have adequate financial protection for theft, accidents, liability, repair and similar issues.