It may seem like somewhat of an odd statement, but for any rider, should they insure a bike that is relatively old (for instance, one that, whilst being completely safe to ride, should it be involved in an accident it would be more economical to replace it rather than repair it), as well as using a high quality security lock on it, both at home and when away, they will be able to look forward to reduced bike insurance premiums.
Relatively simple and cost efficient to carry out, there are various other steps that can be taken to receive a cheap bike insurance premium, many of which do not take for much additional money to be spent or more thought taken than simply amending a few practices or habits that are very often already in place.
For example, a lot of people who own a bike, when not using it out on the road, will often keep it in their garage. However, if the garage is alarmed, it is not often commonplace for the bike owner to engage the alarm when they are in the house, as they may have an adjoining garage so it would be inconvenient if they needed to keep going in or they simply believe that as the bike is in the garage and they are in the house, setting the alarm is unnecessary.
Though this may be true in some respects and a popular belief to many, but insurance companies will reduce their premiums for a bike owner who keeps their bike in a securely locked and alarmed garage than a rider who only keeps their bike in a garage without setting the alarm or taking additional security precautions.
One of the other popular ways to reduce bike insurance without any cost is to limit when the bike is used, as this can have more an effect on the price of the premium than most would first believe. With some thought, however, it is easy to see how using the bike less can reduce the cost of any premium.
As insurance premiums are based on risk, the more the bike is used and therefore the more it is on the road, the more of a chance there is of it being involved in an accident with another vehicle or in an incident in general. Whilst two separate riders may be extremely experienced and not accrued any penalty points on their licenses, should one ride their bike to and from work every day, in peak times as well as for social occasions every weekend and the other only rides a fifty mile round trip in the countryside on a sporadic basis, the latter will receive the cheaper premiums as there is less chance of them being involved in an accident.
By insuring an old bike and taking precautions against it being stolen, any rider can reduce the cost of their premiums. With additional thought, however, it is possible to receive further reductions and receive cheaper bike insurance premiums still, often considerably more so than any previous policy.
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