Want to reduce the cost of your bike warranties? Then follow our six-point checklist to help you save on your warranty:
1) A good record
If you have a history of no claims on your warranties, it will help you to make savings on your policies in the future. Another factor to consider is safe driving, if you’ve always driven legally, safely, within the speed limit and don’t have any convictions, this will also reduce the cost. Consider keeping your good record on track by taking a riding course to refresh and update your skills. #
2) Services up-to-date
If you’re buying a bike second hand, check it’s service record, ensure it’s had regular services and that they’re all up-to-date. Some warranties specify the service frequency, so ensure you know what you’re policy requires and that you comply with it – otherwise you could make your policy null and void, costing you more in the long term.
3) Don’t personalise your bike
If you want to save money on your bike warranty, then keep to the original manufacturer’s standard specification and don’t personalise your bike, as this could make your warranty more expensive. Avoid a bike with a ‘Q’ registration, as this denotes a vehicle that is not standard and is likely to have had radical changes made to it.
4) Don’t invalidate your current policy
Read the small print of your current policy and don’t do anything to invalidate it. If at any point your policy is cancelled or declared void, this will make your future policies much more expensive. There are a number of things you can do to help, like ensuring your photo driving license is valid and always going to an approved service provider to replace parts rather than replacing them yourself. Understand the terms of your policy and abide by them.
5) Security considerations
Unfortunately, motorcycles are an easy target for thieves, but there are precautions you can take to reduce the risk. If you have additional security added to your bike, you may be entitled to a discount on your warranty – check with your insurer as to what type and make of equipment they approve. If you do inform your insurer you’ve fitted additional security measures, then make sure you use them, or you’re likely to invalidate your policy. Also, store your bike in a garage overnight, and your premiums are likely to be lower too.
6) Shop around
Warranties and insurance policies for motorbikes often come with additional benefits for owners such as free breakdown cover, personal accident cover, helmet and leather cover and much more besides, ultimately saving you money in the long term. Depending on your circumstances, it might be that a multi-bike or multi-rider policy would work out better value for you. Alternatively, consider taking the pillion off of your policy to reduce your costs. Whatever your circumstances, shop around for your bike warranty, and you’re sure to save money. Take the time to talk to an experienced insurance advisor to find the best policy for your motorbike.
So there you have the six factors you should consider when you’re looking to reduce the cost of your bike’s warranty.