Saving costs on motorcycle insurance in Florida, entails exploiting opportunities available to you, some of which include:
- Taking a state-recognized safe rider course: The Florida Department of Highway Safety and Motor Vehicles has several courses that train motorcycle riders on safe riding to prevent accidents. Taking some of these courses may help you save money on motorcycle insurance because insurance companies will consider you low-risk compared to riders who have not taken any safe rider course. Some of these courses are the Florida Basic Bike Bonding RiderCourse® (BBBRC), Ultimate Bike Bonding RiderCourse® (UBBRC), Advanced RiderCourse® (ARC), etc.
- Bundling motorcycle insurance policy other policies from the same insurance company: Insurers usually encourage clients to bundle policies, so you can contact the insurer that sold your auto insurance or residential insurance to you, and find out whether they have motorcycle insurance. If you have multiple bikes, you can save cost by insuring them under the same motorcycle policy
- Comparing quotes: Compare three to five motorcycle insurance quotes in Florida that have the same coverage types, coverage limits, and deductibles before choosing one with the best price. In doing this, make sure you do not sacrifice quality for price. You can contact a knowledgeable independent insurance agent to help you with this. You can also use third-party sites to compare free motorcycle insurance quotes, but you will need to provide some details, including your zip code and motorcycle type.
- Join a Rider Club: Florida has several rider clubs that you can join to get a discount. Belonging to any of the recognized rider clubs in Florida may attract a discount and help you get decent recommendations of affordable policies.
- Increase your deductible. A deductible is the amount of money you agree to pay out of pocket whenever there is a claim. The deductible is a major determinant of how much you will be charged for your coverage. Hence, your insurance cost will be lower if your deductible is high. You should only consider raising your deductible if the amount of emergency funds you can afford to pay will be sufficient to conveniently cover the costs of repairs for your bike if a perilous event occurs.
- Secure your bike and install safety features: With 7.5 thefts per 1,000 registered motorcycles in the state, Florida is among the top 10 states with high rates of thefts. Therefore securing your bike using motorcycle storage pods set in secured areas and installing anti-theft devices like motorcycle tracking systems, disabling devices, U-locks, disc locks, etc., can protect your bike from theft. In addition, taking safety precautions when riding, like wearing proper clothing and motorcycle safety gear, including helmets and jackets or vests, protects you in the event of a crash. Doing this will, in turn, help you save some money on your motorcycle insurance policy, as you will be considered low risk.
- Maintaining a good driving record: A good driving record (remaining ticket and accident-free) is proof that you are not a rough rider, which means the chances of you getting into a crash are low. Insurers typically use driving records to determine the cost of motorcycle insurance, so your premium will be relatively low if you have a good driving record. You may also be eligible for a discounted rate if you are a “preferred operator,” which means you have been a motorcycle rider for a while and have a clean record.
- Paying your premium upfront: Paying your annual premiums upfront most times attracts a discounted rate.
- Get the right motorcycle coverage: Motorcycle riders often purchase coverages they do not need. To avoid this, contact a Florida-licensed insurance agent so they can assess your needs, determine the coverage types that you need, and answer any motorcycle insurance faqs you may have. For instance, if your bike has significantly depreciated over time and looks old, you may no longer need to keep your comprehensive coverage. Also, let your insurer know how often you use your bike, especially if you only use it a few times a year. For instance, you can get a policy limiting the miles you can drive each year (e.g., 2,000 miles). This will be significantly less expensive than paying the same premium with someone who rides 20,000 miles annually.
- Get discounts: There are various motorcycle insurance discounts available to riders in Florida. These discounts can help you save money on your insurance. Some available discounts are loyalty discounts, safe rider discounts, renewal discounts, referral program discounts, etc. You can contact your insurance agent to know the discounts available to you.
You may also contact a knowledgeable Florida-licensed insurance agent to determine other ways to save money on your motorcycle insurance.
(Read more about: Motorcycle insurance in Florida)