< div id="about">
May-22nd-2014

How to Save on Motorcycle Insurance for Students

How-To-Save-Money-On-Motorcycle-Insurance-966With the economic climate as depressed as ever, more and more college students are turning to two-wheeled transportation instead of the traditional four. In most cases, motorcycles are more affordable to buy, to fuel, and to insure than a regular car, truck, or SUV. Furthermore, they emit fewer emissions and not only save money on fuel costs, but allow an owner to feel less dependent on foreign oil – big advantages for the environmentally conscious student.

But depending on the make and model of a student’s scooter or motorcycle, insurance could be more expensive than you might expect. For example, a male in his early twenties insuring a sportbike could expect to pay as much as 20-30% of the value of his bike in yearly premiums. Obviously, scooter insurance is typically much less expensive.

In either case, there are significant discounts available on student motorcycle insurance. Let’s look at them in detail.

>Motorcycle Safety Training Discounts: when it comes to auto insurance, drivers under 21 can usually receive a discount from their insurer by completing a defensive driving or driver’s ed course. When it comes to motorcycles, you don’t necessarily need to be under 21 to reap savings by completing a motorcycle safety course. The best courses are offered by the Motorcycle Safety Foundation, or MSF. Graduation from such a course is typically worth a 5% discount. However, you must factor in the price of admission, which is often $250-$300. That said, the street-riding techniques learned are priceless.

>Good Student Motorcycle Insurance Discounts: just like with auto insurance policies, insurers will often give “good student” discounts for those collegians who maintain a 3.0 GPA, appear on the Dean’s List, or are in the top 20% of their class.

>Low Mileage/Infrequent Driver Discounts: if you only use your motorcycle for a very short commute to campus, and the bike only accrues a few thousand miles per year, you may be eligible for a low mileage discount. Most insurers expect a car to be driven about 15,000 miles per year. If your bike falls far beneath this amount, ask your insurance agent or representative whether you can save on your policy with a low mileage discount.

>Multiple Motorcycle Discounts: most of the time, this kind of discount is relevant to a student only when they can add their vehicle to a parent’s existing insurance policy. Most insurers provide big discounts for having multiple vehicles under a single policy. The high rates of student motorcycle insurance may be mitigated by not opting for an independent policy. In some cases, a college student can add his or her bike to a parent’s policy, and then pay their parents back for the monthly cost it adds.

Be Sociable, Share!

© 2009 Premium theme

Design by Kamruddin