8 ways to lower the cost of your motorcycle insurance

Nov 23, 2022


Bikes are your thing. The open road is calling. But insuring a motorcycle can be expensive. So cool your heels for a moment or two, while we explore some of the best ways to reduce the cost of your premium.

1. Bundle your policies with a single insurer

Using the same insurance carrier to cover your home, car and motorcycle is a surefire way to get a bundled policy discount. Ask your usual Varney contact for details.

2. Pay for your policy annually, instead of monthly, or use EFT

Most insurers charge a fee if you choose to pay monthly. Pay annually, in full, and it will cost you less overall. Alternatively, lower your instalment fees by using EFT (Electronic Funds Transfer).

3. Pass an authorized safety course

Your premium should drop if you stay on top of your motorcycle riding skills. Insurers often offer a discount to more qualified riders. The Motorcycle Safety Foundation offers a popular Basic Rider Course nationwide and is transferable between most states as a qualification.

4. Get an affinity group discount

Affinity groups are organizations or clubs formed around a common interest or purpose such as the American Motorcyclist Association (AMA) and Harley Owners Group (HOG). Insurers often give discounts to club members.

5. Opt for a higher deductible 

A deductible is the amount you are responsible for paying toward an insured loss. Increasing your deductible can result in significant savings, especially if you’re a low-risk motorcycle rider based on age, skill and how often you’re likely to ride. Varney can negotiate on your behalf with insurers.

6. Build up a no claims history

If you haven’t made a claim for 12 months or more your no claims history should entitle you to reduce your policy’s collision deductible.

7. Invest in anti theft devices

Insurers frequently offer discounts on their rates to policyholders who have anti-theft devices such as GPS tracking, vehicle recovery or disabling systems installed on their motorcycles.

8. Have an Anti-lock Braking System (ABS)

A report by the Highway Loss Data Institute states that accident insurance claims for motorcycles equipped with ABS are filed 20% less often than for
motorcycles without ABS. So, it’s easy to see why insurers would encourage you to have an anti-lock braking system fitted to your ride by offering you a discount on your premium.

Varney knows motorcycle insurance like you know the feeling of easing into a bend at speed. Get in touch with our expert Private Client team of brokers and we’ll leverage our long-standing relationships with leading insurance carriers on your behalf. Securing the best cover at the best-possible price, you also get all the benefits of the Varney Extras Pledge at no extra cost.


To find out more about the various insurance and risk solutions we have to help you protect what’s important to you, contact us today.