Novice motorcyclists are likely to pay a lot for their insurance. Young riders who want to take out at least a compulsory third party liability policy should expect to pay a higher-than-average premium. What are the tips for choosing your first motorbike insurance policy efficiently, and for choosing offers that combine economy and good coverage?
Tips for paying less for motorbike insurance
There are several ways of paying less for motorbike insurance for young riders. The novice motorcyclist can choose a third-party motorcycle insurance policy. This is considered to be the cheapest type of insurance and it offers compulsory third-party liability cover, which only covers damage caused to a third party. In order to take out an insurance, it is recommended that you consider taking your motorbike licence and choosing accompanied driving.
A young motorcyclist, whose parents own a motorbike, can ask them to add him or her as a secondary rider on their insurance contract. This solution also allows you to accumulate a bonus. Another tip is to buy a second-hand motorbike or a low-powered model. Choosing such a motorbike to start with reduces the cost of the premium. Those who take out theft cover should park their motorcycle in a secure place, invest in an approved anti-theft device or engrave the motorbike in order to reduce the cost of the insurance.
Which insurance policy should I choose if I am a young rider?
Young riders are generally advised to take out a third-party motorbike insurance to reduce the cost of the premium. Although this is the cheapest type of insurance on the market, it only covers bodily injury and property damage to others in the event of an at-fault accident. The disadvantage is that the novice rider's own damage is not covered by his insurance company. This is a concern when you know the risks of falling on a motorbike, especially if you are not very good at riding. For a broader coverage, choose an intermediate car insurance.
What is the status of young riders?
The insurance company determines the status of the young rider when the holder has received his licence for less than 3 years. As a young rider, insurers consider that he/she is more likely to make a claim because of his/her lack of experience. For this reason, novice motorcyclists have to pay an extra premium for at least 2 years. The extra premium is usually 100% of the basic rate in the first year, in case of no claims the extra premium will be reduced by half and then disappears in the third year.
