Choose a smaller, cheaper, less powerful bike

While it’s not likely you’re going to buy a new bike just to get cheaper insurance, it’s generally true that the smaller the engine size of the bike you’re getting insured, the cheaper the premium will be. This is because insurers see motorcycles with less powerful engines as less of a risk on the road.

For example, you’ll get cheaper bike insurance if you ride a 125cc bike or scooter, rather than a 900cc motorbike. Whilst a 900cc bike will be cheaper than a 1200cc bike. The below table gives an idea of the average annual cost of bike insurance based on the size of the engine[1].

Average prices based on the average annual price of policies sold between March 2023 and March 2024 through the motorbike insurance comparison service with Asda Money provided by Vast Visibility Limited.  

When you’re next in the market for a bike, consider the fact that the choice you make will directly affect the price you’ll end up paying for insurance. Try to avoid getting a bike that’s more powerful than you need, and you should see savings in the long run.

Purchase a level of cover that meets your needs

You can choose from three main types of motorbike insurance:

• Third-party: Covers you for compensation and legal costs if you injure someone else or damage their property but won’t compensate you for your own costs.
• Third-party, fire and theft: Offers the same protection as third party only but adds cover for compensation if your bike is stolen, or damaged or destroyed by fire.
• Comprehensive: Offers the same level of protection as third party, fire and theft, but will also cover you for your own medical costs and the costs of repairing or replacing your bike, even if you caused the accident.

You can cut the cost of your motorcycle insurance policy by making sure it only covers what you need. For example, if you ride a bike that isn’t very valuable, you might not need first party coverage. So you could save by avoiding a comprehensive policy.

Consider your mileage

One of the main factors that affects the price of any type of vehicle insurance is how much you drive, and things are no different when it comes to bikes. Motorcycle insurance is based on risk, and the less that you’re on the roads, the less of a risk there is that you’ll be in an incident. So it makes sense that the fewer miles you ride, the cheaper your insurance should be.

By cutting your mileage to just the essentials, you could see a big reduction in the amount you have to pay for motorbike insurance. You could do this by avoiding riding your bike to work by taking public transport instead or by cutting down on unnecessary leisure trips.

Pay your insurance annually

You can generally pay for motorcycle insurance annually or monthly. The difference between these two payment options might not seem like much but choosing the right one can actually save you a fair amount on the overall cost of coverage.

As with most things, paying up front for your motorcycle insurance will see you save money over the course of the year, as the savings from fewer payments being processed can be passed on to you. Just remember, as an insurance policy can be expensive, it makes sense to save ahead throughout each year for your next year of insurance to make sure you’re not caught short-handed.

Increase your voluntary excess

You’ll likely get cheaper motorbike insurance by agreeing to a higher voluntary excess. This is the amount of money you pay when you make a claim, before your insurance kicks in.

A higher voluntary excess can potentially lower your insurance costs, but it does mean that any insurance payout is likely to be lower. Think carefully about what you can afford to pay for your voluntary excess, and what you consider a reasonable sum.

Improve your motorbike’s security

Vehicle security is another big factor in the cost of your insurance. Motorcycle theft is a problem in the UK, just like car theft. And insurers are wary of insuring bikes that are at high risk of being stolen. If you can prove to them that your motorcycle is as secure as possible, you should see a reduced premium.

Ways you can improve the security of your motorcycle include finding a safe parking place (like a secure car park), investing in security measures like an electronic alarm or immobiliser, and even marking your bike with your vehicle identification number.

Don’t modify your bike

Motorcycle modifications such as aftermarket exhausts, tail tidies, and air filters can all ramp up the price of your insurance. This is usually because modifications increase the value of the motorcycle or make it more attractive to thieves.

While it might be tempting to add mods to your bike, if you’re looking for the cheapest motorbike insurance you can get, you’ll want to keep it stock.

Imported motorbikes can also be more expensive to insure. This includes ‘grey imports’, which are bikes that aren’t available in that form in the UK and are imported from outside the European Union.

Park somewhere secure

If you can keep your bike in a secure garage or shed overnight, it reduces the chances of it being stolen. This in turn can cut the cost of your bike insurance, as the insurer will view it as less of a risk.

If you don’t have a garage at home, renting one within one mile of your property can help reduce the cost of your premium. Just remember to tell the insurer that the bike is stored in a garage, but that it’s away from your property.

Consider your named riders

If you also have a young inexperienced rider on your policy, your motorbike insurance will likely be more expensive. But having an experienced rider could help cut costs. Just remember that you need to be honest about who the main rider is.

Take an advanced riding course

If you’re serious about reducing the cost of your motorcycle insurance and want to brush up on your bike skills at the same time, taking an additional motorcycle training course could help you.

There are a range of advanced motorcycle courses available to you. Not only could they see you become a better rider, but you might also be able to see a reduced insurance premium. Some insurers will take additional training course completion into account when they’re generating your policy price, offering you a cheaper premium because they see you as a lower risk. But you will most likely have to pay for any courses you take, and it’s not guaranteed that your insurance savings will outweigh the cost of the training.

Build up a no-claims discount

Insurers tend to reward riders who can demonstrate that they’re low risk by having a good insurance history in the form of a no-claims bonus. This is a discount on your insurance premium that builds the longer you go without making a claim, and it can add up to become a significant saving.

While not all claims are avoidable, you can work towards building your no-claims and making savings by being as safe as possible on the road and only making claims when they’re essential. If you’re in an incident that only causes minor cosmetic damage to your bike, for example, you might want to consider avoiding making a claim so that you can continue to stack the bonus savings. Note that you will still have to at least notify your insurer that you’ve been in an incident, no matter the damage caused.

Don’t pay for anything you don’t need

Removing things from your policy you don’t need can help you get cheap motorcycle insurance. For example, if you never have passengers on your bike, you won’t need pillion cover.

Pillion is another consideration that insurers will make when determining the price of your motorcycle insurance. It makes sense that the more people that are on the bike, the higher the risk of injury. So if you want to have pillion cover, you will usually pay more for the privilege. If you can avoid carrying passengers, choose not to add pillion cover to your insurance policy and it should be cheaper. It is illegal to misrepresent your usage, however, so if you claim you won’t be carrying passengers, make sure you don’t.

You also may not want legal assistance or access to a courtesy motorbike as part of your policy. Removing this should also help cut the cost of your insurance.

Be honest when seeking a quote

Always make sure you’re truthful about everything when you seek a quote. This includes whether you’ll be carrying passengers, as well as the size of the engine and how much the bike is worth. If you miss details off your application or give false information, it could invalid your insurance. This means your insurer may reject your insurance claim, which will cost you much more in the long run. It can also push up the price of your premiums moving forward.

[1] https://www.nimblefins.co.uk/average-cost-motorcycle-insurance