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Step one: Choose a suitable bike

It’s well worth factoring insurance into the equation when you’re buying a motorbike. This is because insurers use a number of criteria to assess premiums including: your riding history; your address; your personal circumstances; your annual mileage; and, of course, the bike itself.

As a general rule, older bikes with smaller engines that qualify for cheaper premiums as older bikes cost less to repair/replace, while bikes with higher engine capacities would be more likely to be involved in high impact accidents as they often travel at faster speeds. Keep your bike choice as conventional as possible too – don’t be tempted to modify the bike as the parts you use may be costly for an insurer to replace if an accident occurs.

Step two: Think about the level of cover you need

Though many bikers think about how much their insurance will cost, choosing the cheapest deal isn’t always the best option. You must ensure that you’re getting the level of cover you need too. Broadly there are three levels of cover available:

- Third party only: Covers liability for injuries to others as well as damage to their property.

- Third party, fire and theft: Third party cover plus protection for your own bike against theft, attempted theft and fire damage.

- Comprehensive: Third party, fire and theft cover plus repairs to your own bike if an accident occurs (subject to policy exclusions). Depending on the policy you choose, comprehensive cover may include accidental damage, personal accident cover and medical expenses.

If you ride a relatively inexpensive bike, then a third party policy may be best for you – depending on your riding experience, the premiums on a comprehensive deal may even outweigh the cost of the bike itself. However, as a general rule the more cover you take out the better.

However, if you do opt for comprehensive cover, remember that not all policies are the same. For example, some may include temporary replacement bikes and cover for riding other motorbikes in emergency situations with the owner’s permissions as standard, while others may not. You may also have to pay extra for options such as breakdown cover, legal expenses cover and riding on the continent. Think carefully about the right policy options for you – for example, there may be no point paying for a temporary replacement bike if you already have access to a second vehicle.

Step three: Consider the excess

Another factor to consider before taking out a policy is the excess you can afford – an excess is your contribution towards a claim. Usually a bike insurance company will set its own ‘compulsory excess’ which you can add to with a ‘voluntary excess’. Setting the voluntary excess at a high level could lower premiums but only set it at a level you can comfortably afford.

Step four: Lower your risk

As premiums are based on the likelihood of you making a claim, reducing this risk level can lower premiums. Here are some additional tips:

- Agree to a mileage limit: Clearly, the fewer miles you ride the less likely you are to be involved in an accident so consider agreeing to a mileage cap.

- Consider who rides your bike: Adding inexperienced riders on to your policy could cause your premiums to rise, so limit the number of named riders on your policy.

- Increase security: Look into both mechanical and electronic security for your motorbike. Many insurance companies offer discounts for devices which limit the risk of motorbike theft such as alarms, immobilisers, tracking devices and ground anchors.

- Park safely: If possible, use a locked garage to store your bike overnight – this will keep it out of the sight of thieves and vandals.

- Take an advanced riding course: With some insurers you may be able to lower premiums by taking an advanced motorbike riding course. However, it’s worth assessing the extent of the discount beforehand to ensure it outweighs the cost of the course.

Step five: Shop around

Once you know exactly what you want from a motorbike insurance policy, it’s time to shop around.

Comparing as many deals as possible will help you find the best policy for your needs. Comparison websites can help speed up this process – the leading websites compare deals from around 25 motorbike insurance companies with one search. Indeed many motorbike insurance providers offer their cheapest deals online due to the savings they make on overheads.

Just remember when comparing the market to not only evaluate the quotes, but also to consider the levels of cover available to ensure you’re receiving value for money.