In the past year there has been an increase in motorcycle ownership, particularly with large numbers of middle aged men. It could be argued that this is due to a mid-life crisis, the need to stay young, take up a new sport; however there are now many more practical reasons behind this. The benefit of having two wheels instead of four includes beating the congestion charge and the rising petrol and tax charges. Although this may help save a few pennies, the high accident rates means that insurance with a good rate can be a problem to find. 

As more inexperienced riders take to the road for whatever the reason insurers and indeed the police have become concerned as the numbers killed and the seriously injured are a growing problem. The Association of British Insurers in the last year have already paid out £22 million in comparison to the £19 million in 2006 this is a sharp increase. Those who use their motorcycles as a hobby are of course unused to riding and unable to handle them.

Therefore, one of the biggest problems with cyclists is that they do not regularly use their bikes so every time they go on the road they become a hazard to themselves and others. Commuters who save on petrol, car tax and parking charges put themselves at risk. Where more than 3 million individuals hold a motorcycle license on 1.2 million regularly use theirs. And each year 6,000 of them will be killed or injured. If you compare this to the 25 million car drivers and the 31,000 serious casualties there is an obvious difference, as you are four times more likely to be killed or injured on a bike, thus making insurance premiums steep.

Bennetts the UK’s biggest motorcycle insurance specialist claim quite rightly that it is more dangerous to ride a bike than drive a car. Those at risk comprise of 70% of all riders, and the numbers of those at risk tends to rise during a recession. This has meant that insurance companies have increased premiums and the number of restrictions on their policies.

There are a few ways however to obtain the cheapest bike insurance possible. The Post Office has recently launched their first motorcycle policy that offers a month free cover and up to 36% off for female riders. Shopping around for the best deal is still required as cover for accessories for example can vary and each insurer will assess each risk differently. Premiums are often adjusted according to age, post code and the driver’s experience. But accessories worth protecting can amount to more than £1,000, and these can sometimes be protected by your household insurance. Premiums are slightly more challenging to save money on, but if you are an inexperienced driver it is best to look into the other ways insurers determine how much it will cost you.

Garaging your bike, installing security devices which don’t have to be costly, something simple such as chaining your bike to a concrete post in your garage will be just as effective. As alongside your personal safety the theft of motorcycles has also become a growing concern, as they can be worth a lot of money.