Monday, May 27, 2013

Cheap Bike Insurance Without Deposit

Cheap bike insurance is very important for protecting riders from hefty repair and injury bills while traveling on the road. Compared to car drivers, bike riders are much more exposed and easily hurt in a traffic accident. Since no deposit bike insurance is quite cheaper compared to car insurance, it is important for all riders to get comprehensive bike and accident insurance. 

When you compare motor bike insurance quotes online, you need to account for the different benefits bundled into the various third party bike insurance or fully comprehensive plans. For example, the latter will cost more but includes injury and repair coverage for yourself in the event that you are the culprit in a crash. A cheap bike insurance may cost more in the long run if you are not insured for damages that are very likely to happen to you.

Short Term Motorcycle Insurance Young Riders Under 21

Especially for new and inexperienced scooter riders, you may want to buy cheap short term motorcycle insurance to avoid paying out of your own pocket for repairs on your bike and the other party's damages.

For example, young riders below 18 years old often groan at the supposedly unfairly expensive motorcycle insurance they have to pay and try to reduce these costs by buying only the bare minimum third party motorbike insurance. However, it has already been established from statistical data that young drivers around 16 to 18 years old or those with less than 1 year of riding experience are three times more likely to be involved in a road accident. You may save $10 a month by buying only third party bike insurance, but who is going to pay that $1000 repair bill to overhaul your crashed motorbike?

Reduce Your Motorcycle Insurance Rates

To get cheap no deposit bike insurance, do the following if it is possible. If you have a personal garage or shed, always park your bike in it. This effectively lowers the probability of theft or vandalism since it is always safely locked away compared to parking in an unattended car park. If you are buying fire and theft bike insurance, this will get you cheaper motorcycle insurance rates. This is especially important if you live in a high crime rate neighborhood where motor bike theft or being set on fire are common occurrences. 
Go for second vehicle discounts on your existing plans. For example, Churchill Short Term Car Insurance offers 10% insurance rate discounts when you insure more than one vehicle under the same policy. There are some motorcycle insurance plans that offer low mileage discounts. If you only use your bikes on weekends or your workplace is only a few miles away from home, then such cheap bike insurance will be beneficial to you. If you maintain a safety driving record without any accidents or claims, you will get discounts on your next policy renewal. 

If you are using only your bike as a means of transport and not trying to impress anybody or win a race, a cheaper $700 Tank scooter means cheaper insurance rates. This is expected since expensive motorcycles are more expensive to repair in the event of damages or theft hence they command a higher premium. If you are already comparing motorbike insurance quotes online, you may as well buy online. For example, Tesco Car Insurance With No Deposit is known to offer 10% discounts on motorcycle insurance rates when you buy online because they are passing the commissions paid to agents back to the consumers.

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You can also get cheap motor bike insurance rates by increasing your deductible or coinsurance. This is the amount you need to pay for damages and repairs before the insurance coverage kicks in. If you have been driving safely for many years and never got into a crash before, this is a good money saving strategy because you can get big discounts on the premiums. However, do not be too aggressive in adjusting your deductible. Make sure you can afford that deductible for your cheap bike insurance in the event of a crash or you will not even be able to send your motorcycle for repairs.

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