We are always asked why Bike Insurance premiums vary!

Motorbike Insurance Companies all have their preferred niche of bike client. This could be anything from a youngter riding a 50cc to a seasoned sports bike rider. They use this statistical information to calculate the likelehood of you making a claim, what they pay out on average for your particular risk profile and therefore what premium they would have to charge to ensure the company made a profit.

If one insurance company has always lost money on your risk profile the premium will be expensive and if another has always made money then the premium will be competitive.

Typical examples of how they profile you are as follows:

Your Occupation

Bikers that commute every day to work are more likely to be involved in an accident than a `good weather rider` who only gets his bike out on sunny weekends. Do you have a car or alternative forms of transport that you use every day? Do you have a standard occupation or a high risk occupation such as a professional sportsperson.

Your Address

Bikes are less likely to be stolen from rural locations as opposed to inner city locations. But do you live in a rural location and commute to a inner city location?

Is Your Bike Garaged?

Bikes that are kept in a locked, secured garaged and typically adjacent to your home are less likley to be stolen. You may find, dependant on the model of bike, that some insurers might not even offer theft cover if your bike is not garaged.

Any Claims or Convictions

The type and number of convictions may have an affect on how your premium is calculated. Your claims history will also affect your premium. Insurers particularly frown on drink driving convictions, driving with no insurance!, driving whilst banned and theft claims.

No Claims Bonus

If you have previously insured a bike in your own name and have ridden claim free for over 12 months then you should be earning a `no claim bonus`. The more years you ride claim free the more no claim bonus you acrue. Typically, if you have ridden claim free for over 4 years, you will probably pay less than half what someone who has earned no bonus.

The Type of Bike

What would be more expensive to insure; a moped or a sports bike? I wouldn`t always be the sports bike! If you were a 17 year old who has just passed his CBT , living in a city location and insuring a sporty looking brand new moped be prepared for a hefty premium. If you`re a 35 year old, with over 10 years claim and conviction riding experience wishing to insure a 3 year old sports bike that he only uses on the occassional weekend I wouldn`t overly worry about how much it will cost.

Please always bear in mind these important factors when shopping around for Cheap Motorcycle Insurance