subject: Are You Driving The Latest Model Motorbike? [print this page] It's great when you get your first motorbike and can't wait to show it off to your biking friends because it is the latest one on the market! Whilst it may be a great feeling knowing that if you pass your test you're going to get the best bike there is, you should think twice.
If you are riding the latest, flashiest motorbike around then you could be looking at the flashiest most expensive insurance policy around!
Nobody likes to have their bubble burst when it comes to something you have wanted for a very long time. The fact that you may not be able to afford to insure your most lusted after bike may not have occurred to either you or your parents, but that could be a problem.
Insurance companies use a number of criteria to evaluate how much someone should pay to insure a vehicle. When it comes to motorbikes in particular, insurers know that great looking motorbikes tend to be involved in more accidents than a slightly shabby looking second hand one.
For an insurance company, even one that specialises in cheap motorbike insurance, a brand new motorbike has at least one risk factor and possibly two or three more. If you are a young driver then you are automatically considered to be in a higher risk category, which will make your insurance premiums higher. Studies show that younger drivers are more likely to be involved in an accident than drivers over the age of twenty five.
Most brand new, flashy motorbikes are owned by younger drivers, at this stage you have two strikes against you although some companies offer a way round the age problem. This particular risk factor seems to be common for most insurers, although some insurance companies may give you a cheaper deal if you take a post driving qualification course. It is worth checking out companies that make this offer, you can probably find them online, as it can save young drivers hundreds of pounds in premium costs.
If you are still determined to have the latest and best looking bike around but you live in an area where theft and accidents are a routine occurrence, then the insurance companies will penalise you for that fact. If you can prove that your bike will be stowed away in a garage, then this may ameliorate the fact that you live in a high risk neighbourhood a little.
Motorbike insurance can be expensive if you really want cheap motorbike insurance then you need to reassess the type of bike that you are riding. It may seem that insurance companies penalise youngsters who ride brand new motorcycles, but the fact is that they pay out more claims for new bikes that are ridden by young drivers than they do for older drivers of both new and older bikes. If you really want cheap motorbike insurance then stay away from flashy new bikes, at least for a year or two if you are classed as a young rider!
