New motorcycle riders, or first time motorcycle owners are the most susceptible to receiving a quote for motorcycle insurance that costs as much or more than their motorcycle. Many new motorcycle riders have bought a motorcycle only to turn around and sell it once they get their insurance quote. Let's look at a few ways to get that insurance premium lowered a little bit.

All insurance companies evaluate the cost for an insurance policy in basically the same way. They evaluate the risk, and then apply a premium that reflects and covers that risk. Therefore, the important factors to consider when purchasing a motorcycle are the factors that involve risk. The age of the rider, the experience level, and age and size of motorcycle are just a few of the categories they consider.

Where you live, and where you will be mostly riding your motorcycle will affect your risk level. This is because the increased traffic in a city poses a more substantial risk to the motorcycle rider than the streets and highways in a town or the country. Where your motorcycle will be stored when it is not in use also may be a contributing factor with some insurance companies.

The age, style, and size of your motorcycle will also factor into the insurance premium. Many insurance companies have different rates for motorcycles ranging in size from up to 450 cc, 451 to 750cc and over 750cc. The ones over 750 cc are often termed to be a "big bike" policy. A sports bike, for example, will likely cost you more to insure than a cruiser type bike.

The amount of riding you will do is directly linked to your risk factor and therefore to your insurance premium. Let's face it, the more you ride your bike, the more you are exposed to the risk factors presented by other traffic. City riders tend to have noticeably higher risk rates than country or town riders do.

One factor that you have to negotiate with is the amount of deductible required to make an insurance claim. Many people find it beneficial to increase their deductible and therefore lower their insurance premium. This is also beneficial in the fact that you only pay the deductible when you make a claim on your insurance. Typically,if a repair will cost you less than $300 to $500 you're better to pay for it yourself than put it through your insurance anyway.

Modifications also greatly affect the price of your insurance. Therefore it is in your best interest to keep the modifications to a minimum. For new riders, an older bike with a smaller engine will help to keep your insurance rates down. Happy Riding.

About the author: Ken Henry can help you find the solutions to your insurance questions. Get motorcycle insurance rates from the best companies, plus get an exciting tip sheet on auto and homeowners insurance

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