How to Reduce the Cost of your Scooter/Moped Insurance

Money is getting tighter for just about everyone these days, so it helps to cut down on your expenses wherever possible. If you own a scooter or a moped you’ll be glad to hear that there are some easy ways that you can reduce the cost of your insurance. Premiums are increasing for a lot of people around the United Kingdom, but here are just some tips that can make your premium cheaper:

  • Shop Around – This might sound obvious to some people, but you might be surprised about how many people don’t shop around when it comes to buying scooter or moped insurance. So many people just call one company and agree on a premium straight away, but this isn’t the way that you should do it. Instead, you should call at least 3 different insurers and so that you can choose the best (and the cheapest!) insurer. It might be a little bit time consuming, but it’ll be well worth it.
  • Over Insure – A lot of people have also over insured their vehicle which in turn means that you’ll be paying more for insurance. It’s not only moped or scooter insurance that this happens in though; it’s the same with house insurance etc. Always remember that if anything were to happen to your bike you’d only receive the market value of it, so only insure it for the market value!
  • Mileage – Some people don’t use their moped or scooter regularly. Some people in countries (like in the UK) decide to only go on their bike in the summer months since the weather is better, and if this is what you do then you should contact your insurer and let them know about this so that you can try to get a better deal from them.
  • Secure the Bike – Another way that you can get cheaper insurance is by making sure that your bike is secured at all times. If you have a garage or whatever in your house then you could store your moped or scooter there which means that there is less risk of it being stolen. Because of this, the insurance company that you’re with should give you a discount on your insurance premium. You could also do some other things to secure your bike such as putting an alarm on it too.
  • Yearly Policies – If you use your bike all year round (or even most of the year) then you should try to get a yearly policy. Agreeing to a yearly policy will be much cheaper than getting two 6 month policies for example. This is because the insurance company will give you a discount if you’re going to be using their services for a longer period of time, it’s quite similar to a mobile phone network giving a higher discount to people that get a yearly contract rather than a 6 month contract.
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