Motorcycle Insurance Discounts: A Complete Guide

Are your motorcycle insurance premiums too high? Are they eating into your income and leaving you short or are you simply looking for ways to save? In this guide, we’ll look at some motorcycle insurance discounts that can keep those premiums low, shaving tens and even hundreds of dollars off the total.

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Types of Motorcycle Insurance Discounts

As with car insurance and life insurance, there are numerous ways you can save money on your motorbike insurance policy. It’s all about giving the insurer what they want, painting the picture of an ideal policyholder and reducing liability as a result. 

The exact discounts you can secure will depend on the insurer you choose, but generally, you can save money via the following methods:

Driving Record Discount

Safe drivers with a proven record will generally be offered lower motorcycle insurance rates. They have proven themselves as experienced riders and if they are accident-free and claim-free, they’re also proving to the insurer that they are low risk, which is ultimately the thing that the insurer cares about the most.

Multi-Policy Discount

As with most forms of insurance, the more policies you buy, the cheaper each new policy will become. You’re essentially getting bulk rates from insurers and taking advantage of the fact that many insurance companies offer a wealth of different policies, including homeowner’s insurance.

By the same token, you can save money when you add other drivers and vehicles to your policy. If you have multiple drivers in your household, even if some of them are younger and high-risk, the bulk price will be much cheaper than if you were to buy the policies separately.

Safety Course Discount

By completing a motorcycle safety course, you can increase your skills on the road and prove to your insurer that you know how to handle yourself. Statistically speaking, riders who complete these courses are less likely to be involved in costly accidents, and that reduced risk is what insurers want to see.

Motorcycle Association Discounts

Motorbike rider organizations like the Harley Owners Group and Motorcycle Safety Foundation can secure you slightly reduced premiums with some auto insurance companies. These motorist clubs can give you some essential advice and information with regards to staying safe on the roads.

Mature Rider Discount

As a young driver and a new rider, your risk of being involved in a crash are higher than they are at any other point in your life. As you enter your 20s and have been riding for a few years, this risk reduces, and this reduction continues into your thirties and forties. 

In your fifties, it begins to increase a little, but never reaches the highs of when you were in your teens and this is why many insurance companies offer mature rider discounts.

You can typically secure these discounts if you are over the age of 55 and have been riding without issue for several decades.

Affordable Motorcycle Insurance

Now that you know how to save money on your insurance, it’s time to get a motorcycle insurance quote, hop on your bike, and hit the road. To help you find the right insurer for your needs, take a look at these leading providers of motorcycle insurance policies.

  • Country Financial: Secure a discount as high as 25% when you add homeowner’s insurance to your policy.

  • Erie: Get additional cover for damage and losses to your gear and safety equipment.

  • Geico: One of the better providers for motorcycle discounts.

  • National General: Wide-ranging coverage available at affordable prices.

  • Nationwide Insurance: Extensive liability cover available for premium bikes and custom bikes.

  • Progressive: Offers a very affordable and extensive motorcycle insurance policy.

  • State Farm: A leading provider of extensive motorcycle insurance coverage, with great rates available for all bikes and demographics.

  • USAA: Multiple discounts available, including several of the ones mentioned above.

Frequently Asked Questions about Motorcycle Insurance Discounts

Still got a few queries about motorbike insurance discounts and motorcycle policies in general? Take a look at these frequently asked questions.

Does Motorbike Insurance Cost More?

Motorbike insurance coverage often costs more because the risk is much greater. Insurance is all about risk. The insurance company gives you cover based on the likelihood that they will payout. The more likely a payout is, the more expensive your premiums will be. This is why new teenage drivers typically pay two or three times the amount as adults, as studies suggest they are significantly more likely to be involved in a crash.

It’s a similar story with motorbikes. It doesn’t matter how safe and careful you think you are; the insurer focuses on the statistics, which suggests that you are more likely to have an accident on a motorbike than in a car.

What Does Motorbike Insurance Cover?

Motorcycle coverage options include liability, theft, and damage. If you are involved in an accident and need extensive repairs, your insurance will cover you. If you or a passenger suffers bodily harm and require extensive medical treatments, you will also be covered. It all depends on the coverage you choose.

How Much Does Motorcycle Insurance Cost?

The cost of motorcycle insurance differs greatly depending on the age and experience of the user, the type of bike, the state in which they reside, and the insurance company/policy they have chosen. Keep the aforementioned motorbike insurance discounts in mind to keep your premiums low.

Are My Friends Covered to Ride my Bike?

In most cases, yes. However, for your friends to be covered when riding your bike, they need to have your permission and be fully licensed. 

If they do not have a license, they will not be covered for bodily injury, medical payments, and all other coverage. In such scenarios, if anything happens to your bike and it was ridden with permission, your insurance likely won’t cover you. If it was ridden without your permission, then you will need to file a theft report.

Do I Need a Police Report to File?

If you’re claiming that your bike was stolen, you will need a police report. Any time you file for hit and run claims, theft or attempted theft, a police report is required.