If you have recently learned to ride a motorbike, or are looking for a cheaper way to commute to and from work, you may likely be looking at the range of 125cc motorbikes available on the market. However, one of the things that put off many potential motorcyclists is high costs of motorcycle insurance offered by most insurance companies. This article will discuss where you need to look and which of your details will affect your insurance quote, helping you slash the costs of your cover.
When first beginning to look for a decent 125cc insurance quote, a common mistake is to search through the mainstream automotive insurance companies. Unfortunately many of them don’t look into much detail when offering motorcycle insurance meaning you’ll often end up paying over the odds. They see the risk involved in covering a biker as too much and inflate your premium accordingly.
The secret is to look at the insurers that specialise in providing cover for motorcyclists – these are the ones that will have the greater experience in insuring bikers and so can afford to make their quotes much more competitive. To give an example of this wide gap between the two kinds of insurance providers, a 23-year old male looking to get fully comprehensive motorcycle insurance on a Cagiva Mito can be looking at anything up to £1600, while the exact same level of cover offered by a specialist insurer can come in at under £400 – over 4 times cheaper.
Another area you can look at to help reduce your insurance quote is by selecting the right level of cover to suit your needs. Insurers will offer 3 levels of cover – third party only, third party fire and theft, and fully comprehensive. Third party only covers you for damage done to other vehicles in a collision while third party, fire and theft offers the same level of cover plus any damage caused by fire or theft of the motorbike. Fully comprehensive additionally provides cover for damage incurred to your own motorcycle in the event of an accident.
As you can probably guess, the more cover you are after, the more your motorcycle insurance quote will come out at. However you may find when starting out riding 125cc bikes that a lower level of cover will suit you just fine. Many learners start out on relatively cheap motorbikes, meaning that if you were to be involved in an accident the cost of the damage to your bike is unlikely to be much greater than the extra cost of fully comprehensive insurance cover. If you’re also in the position to be able to keep the bike securely locked away in a garage, you’ll probably find third party only cover to be sufficient.
Finally there are the usual insurance factors to consider – your personal details and that of your 125cc motorbike. There isn’t much you can do to change these but it is certainly worth bearing in mind details such as your age, your address and the type of bike you’ll be riding have a big impact on the cost of your 125cc motorcycle insurance quote.
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