There is no getting around the fact that motorcycle insurance is expensive, especially if you’re in a high risk category. If your motorcycle is new it will cost more to insure. The more expensive the machine, the more your insurance will cost. The younger you are, the less experience you are perceived to have, so insurance will cost more. Your driving record will also be considered in the cost of premiums. If you haven’t taken out a motorcycle insurance policy previously, that will also be reflected in the cost of a policy. None of these facts are particularly unexpected–vehicle insurance pricing is generally based on categorizing applicants.

Type of Motorcycle

Another similarity to traditional vehicle insurance that is shared by motorcycle insurance pricing is the risk factor involved with certain types of motorcycles. In the same way sports cars or expensive SUV’s cost more to insure, if your bike of choice is a sport bike or a full dresser you can expect to pay more. More traditional models and older model machines will cost less to insure. Although few people will take the price of insurance into account when buying a motorcycle–a motorcycle is a lifestyle choice, not necessarily practical transportation–you should keep in mind the extra cost to insure certain motorcycles and plan your finances accordingly.

Anti-Theft Precautions

There are a few things you can do to help keep insurance prices down. Because motorcycles are smaller than cars and trucks, they are a bit easier to steal. A couple of strong men and a pickup truck and the bike can be gone in no time. If you take certain precautions to eliminate or reduce the chance of theft you could see some reduction in premiums. If at all possible, keep your motorcycle in a garage when it’s not being used. Carry a good chain and good quality lock with you and chain the machine to some inanimate object when you’re away from it. Avoid high crime neighborhoods if possible.

Shop for the Best Price

As with any other type of insurance it would be a good idea to shop around for the best possible price before signing a policy. Do some research and find the best company for the type of insurance you’ll need. Online research is a good place to start. Visit the \websites of insurance companies that offer motorcycle insurance and get some quotes for comparison. Then begin making calls to various insurance companies. Tell them your needs, and answer their questions, then have them provide you with a price. Compare the prices of all the companies you talk to, and make sure you factor in any differences in coverage.

Coverage May Vary

Not all insurance companies are created equal, neither are their coverage options. Wading through all the options can be time consuming, but if you take your time and ask the right questions you may be able to come away with the coverage you need at a reasonable price. Ask each company about the benefits of a high deductible policy, which will lower your premiums. If you belong to a group or organization, such as the Harley Owners Group or the American Motorcycle Association, you may be eligible for discounts. Ask each agent if their company has any additional discounts available, such as incentives for low mileage or owning multiple motorcycles. If you’ve taken a defensive driving or Motorcycle Safety Foundation course, you may qualify for a discount. Don’t be afraid to ask questions. Your agent is there to serve you. Agree to a policy only after you’re completely satisfied with your coverage options and the premiums you’ll have to pay.

Guest post from Bailey Harris. Bailey writes for several sites online, including www.insurancequotes.org.