Factors affecting you motorcycle insurance premium

Though it isn’t officially required in several states, many motorists prefer to get a motorcycle insurance. It is a good and extremely significant coverage in case the inevitable happens. After all, simply being careful while driving your motorcycle and wearing safety gears isn’t the only insurance you need.

Most of us are aware that motorcycles have higher rate of accidents per unit distance compared to cars. This is because of the exposed driver and the reality that most vehicle drivers are unable to see these smaller driving machines in the traffic line.

If you are transferring to a new state or you have just purchased a motorcycle, you should check first the insurance law of your state before whooshing down the road with your bike. This way, you can be sure that you are driving or riding legally. In case your state requires you to have liability coverage, then there are lots of motorcycle insurance options available for you.

To find the best deals on motorcycle insurance, it is always advisable to inquire first before setting your hands in a particular policy. There are key factors that affect your motorcycle insurance premium. Among them are:

1.)Engine displacement size (in cubic centimeter) of your motorcycle. Most of the times, you’ll have higher motorcycle insurance premium if your bike employ a larger displacement engine. This type of motorcycles is generally more expensive and they boast superior performance.

2.)Make or brand of the Motorcycle. It isn’t such a big factor, but it is usually considered in calculating the motorcycle insurance premium. A motorcycle brand with few models usually cost higher than a usual brand.

3.)The age of the driver or the owner. Older drivers normally benefit from cheaper motorcycle insurance rates than younger drivers using the same type of motorcycle.

4.)Type of bike. The type of bike you own and you are planning to insure also affect the rate of your motorcycle insurance. Sport bikes are normally expensive and thus require higher premium.

5.)Is your motorcycle garaged? If your bike will be parked in a garage if you’re not using it, your premium won’t be as high as those who are leaving their motorcycle parked out along the pavement. In the latter case, the motorcycle will be prone to accidents and theft and consequently, it will require higher insurance rate.

6.)Driving Record. Your driving record as well as your experience affects your motorcycle insurance payment. If your driving record has been messed up by too many tickets and accidents, then you should expect to pay for higher rates.

7.)Number of miles driven every week. It is an important consideration in calculating your motorcycle insurance payment, since the mileage you are likely to put on your motorcycle will push your premium up or pull it down. So you have to decide first if your bike will serve as your service in your daily commute or it is intended only for leisure. If you will use your motorcycle in your everyday activities, then expect to pay higher premium.

8.)Locality. This factor also matter in the computation of the cost of your motorcycle insurance. If you are residing in a big city, expect slightly higher rates compared to those who are living in a rural area but are insuring the same type of bike.

To get a full motorcycle insurance coverage, make sure that your insurance covers liability coverage, no-fault coverage, passenger coverage, collision coverage, uninsured coverage, collision coverage and service coverage.

Private medical insurance what s it all about

Private medical insurance is a very useful policy to take out, yet the range of policies available means that you should ensure the terms and conditions meet your specific requirements

The origin of private medical insurance goes back a long way – before the NHS was formed. In pre-NHS days, people contributed to “friendly societies”, which provided financial assistance to people in times of need. Some private medical insurance providers, such as BUPA, remain non-profit-distributing bodies, though there are also many commercial insurance companies providing private medical insurance these days. One of the best-known names in private medical insurance cover is AXA PPP healthcare ( axappphealthcare. co. uk/ ) – which was actually conceived in 1938 to provide a health insurance scheme for middle income earners in London.

The principal aim of private medical insurance is designed to cover treatment of “acute illness” – defined by Which? As “conditions which can be cured or substantially alleviated by treatment.” Treatment of chronic illnesses, such as multiple sclerosis or arthritis, may not be covered by private medical; so critical illness insurance might be more suitable. Critical insurance cover will be based on your individual requirements – so shop around for the right policy and always be completely open with your insurance provider, or you may invalidate a claim at a later date.

Other treatments generally excluded from private medical insurance include cosmetic surgery, treatment for alcohol or drug abuse and infertility treatment. The majority of standard policies exclude private consultations of a GP, routine check-ups and dental work – unless it is undertaken in a hospital. However, always check your private medical insurance policy – as some will be more comprehensive than others.

Private medical insurance can be an effective way of ensuring swift access to medical care for your family. Just remember that insurance policies reflect your exact circumstances – so don’t assume that one size fits all.

For additional information on private medical insurance and critical illness insurance:

“Be your own financial advisor”, Which? Consumer Guides, author Jonquil Lowe

axappphealthcare. co. uk/body/html/consumer/products/uk/pmi. jhtml (Private healthcare in the UK)

moneynet. co. uk/insurance/critical-illness/index. shtml (Critical illness insurance information)

Top 10 tips to save money on your car insurance

If you’re fed up paying too much for your car insurance duck2water ( duck2watercarinsurance. co. uk) have put together the top ten ways you can reduce your premium without reducing the level of cover:

1.Buy online

Buying online can save you time and money. Companies who spend millions of pounds on advertising or run large call centres have to cover these costs somewhere, and they do so by adding these costs onto the price of your insurance premium. Although online insurers do have overheads, they are much less than high street and telephone insurers, which means they can offer car insurance at up to 60% cheaper than other companies.

2.Drive a cheap and less powerful car

Car insurance companies calculate their premiums on the basis of the car engine size, the probability that it will get stolen and the cost of repairing it. Although smaller cars such as Ford Fiesta’s and Renault 5’s are more prone to being stolen than larger saloon cars, they are cheaper to repair or replace and are therefore cheaper to insure.

3.Build up a ‘no claims history’

Car insurance companies give discounts for safe drivers with a good no claims record. By building up your no claims history you can benefit from a reduction (up to 60%) off your premium, and this discount can be transferred from company to company.

4.Increase your car security

More security means lower risk for your insurance company and you can benefit from cheaper rates by locking your car in a garage a night, or installing an insurance company approved immobiliser or tracker.

5.Increase your voluntary excess

By deciding to pay a higher excess it also means you’re less likely to make a small claim on your insurance and are therefore considered a lower risk.

6.Obtain more driving qualifications

The Pass Plus qualification costs between Ј100-150 and involves taking lessons in different driving conditions such as at night and on the motorway. By becoming a more skilled and experienced driver most insurance companies reward their customers by reducing their premium. As a result, the qualification usually pays for itself within the first year of qualifying. Another option is the advanced driving test, but this can take much more time to pass than the Pass Plus.

7.Use your car less

Clearly, the more you use your car the higher the probability is that you’ll be involved in an accident. As a result people who travel hundreds of miles every week are likely to have a higher car insurance premium.

8.Don’t get on the wrong side of the law

Insurance companies don’t like motoring convictions as they mean a driver is seen as a higher risk. Certain motoring convictions are considered worse than others, for example drink driving offences mean that your premium will be double the usual rate.

9.Reduce the number of people under your policy

The more people on your insurance the more you’ll have to pay. So, if possible try to have as few drivers on your policy as feasible.

10.Live in the countryside

As a general rule, the further you live away from a city the cheaper your car insurance is likely to be. By living in the city your car is more likely to be stolen or be involved in car accident. You can save up to 50% on your car insurance by moving from the city to a rural location.