Very similar to car insurance, companies that offer motorcycle insurance use a number of different factors to calculate the premiums they charge customers. In a rough economy, everyone is looking for new ways to save money. You may be curious about how to lower your motorcycle premiums. There are indeed certain things you can do to bring your premiums down. However, without good knowledge of what motorcycle insurers consider when they calculate your premiums, this can be quite difficult. To help, below are the top five factors that will affect how much you pay for your motorcycle insurance.

1. Your Motorcycle’s Engine

One thing that will certainly be part of the calculation is the size of your bike’s engine. In specific, the bike’s displacement size measured in cubic centimeters will be used as part of the analysis to determine your premiums. Unfortunately for those who want better performance with an engine that boasts a large displacement size, you will have to pay a lot more to insure it. This is due to the fact these bikes are much more expensive over all to repair and replace.

2. Brand and Make of the Bike

Another factor that will be weighed heavily when determining the premiums you will pay is both the brand name of your motorcycle as well as its make. The most famous brands in pop-culture, however, are likely to cost less in premiums. This is because brands that offer fewer models are much more expensive to repair and replace. Rarer makes will also be more expensive due to lack of availability of replacement parts.

3. Your Age

As with cars, the age of the driver is a huge factor that determines the premiums that are charged for insurance. As you can guess, older drivers have to pay less in premiums than younger drivers. This is due to research that suggests that younger motorcycle drivers are much more likely to be involved in accidents. Whether this is due to inexperience or younger drivers being more reckless, this certainly seems to be the case.

4. Kind of Motorcycle

The type of motorcycle you own will also be a big determining factor. The most expensive motorcycles to insure are sport bikes. The reason for this is that the owners of these bikes are more likely to drive them at faster speeds more often than other motorcycle owners. Due to this fact, they are involved in more accidents. Comparatively, the owners of cruisers and touring motorcycles pay a lot less for their insurance premiums.

5. Exposure to the Elements

Lastly, how much your bike is exposed to the elements can determine how much you pay in premiums. Obviously, bikes that spend more time outdoors are more likely to rust and wear out. Expensive repairs will then be needed, and they will be more likely to fail on the road. You may wonder how an insurance company can determine how much a bike will be exposed to the elements. This is done through a simple question about whether or not the bike will be stored in a garage. If it is stored in one, the bike will certainly last longer. The owner will also be able to pay far less for his motorcycle insurance premiums than he would have if it was not garaged.

When he’s not reading about the latest auto news, Miles Walker looks at auto insurance comparisons over at CarinsuranceComparison.Org. His latest article reviewed car insurance Texas.