How motorbike insurance quotes are calculated

Find out how companies use risk factors such as your address, occupation and riding history to calculate your bike insurance quotes.

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Companies take many factors into account when working out what to charge you for motorbike insurance, which is why they ask so many questions.

They work out what type of risk you are to them (how likely it is that you will make a claim on your policy) and charge you accordingly. The factors they look at will include:

Claims history

If you've made a claim on your motor insurance in the last five years, you must tell your insurance company about it. If an insurance company has had to pay out for a claim, they will see you as a greater risk to them and will charge you more for your policy.

Having made a claim doesn't necessarily condemn you to paying huge sums to cover your motorbike, though. Just run a quote through Gocompare.com and we'll bring you prices from the most competitive motorbike insurance companies in the market.

Riders

An insurance company will ask for information about who will be riding your bike, including their riding history, age, claims and convictions history.

Adding a rider under 25 who has a speeding conviction and has previously crashed their bike will certainly increase your insurance costs in comparison to adding a 40-year-old with no claims or convictions.

Riding convictions

It stands to reason that the more riding convictions you have, the more you will be charged for your insurance.

Someone who speeds habitually is likely to be seen as having more chance of being involved in an accident, and hence of costing their insurance company money.

Insurance companies will generally ask for your conviction history for the last five years.

Medical conditions

If you have had, or currently suffer from, a medical condition or disability that may affect your riding, you must tell the Driver and Vehicle Licensing Agency (DVLA).

It will then decide whether to place any restrictions on your driving licence. If you don't have a restricted licence, insurance companies can't charge you any more for your insurance as you are not an increased risk to them.

For further details regarding medical conditions, consult the official DVLA information.†

Mileage

Motorbike insurance companies will ask you how many miles you cover a year because, the more time you spend out on the road, the greater the chance of you having an accident or making a claim.

Occupation

Some occupations attract higher insurance premiums than others. For example, paying out on a claim for a professional sports person is going to cost an insurance company a lot more than for, say, an office worker.

Other occupations that may increase your insurance premiums are workers on licensed premises and entertainers.

Security

It's important that your motorbike is kept as securely as possible to help keep your insurance premiums down. Examples of security devices are motorbike chains, ground anchors or alarm and immobilisers.

Marking and identification

Put as many security markings on your bike as you possibly can. It will deter thieves as they will not be able to get rid of a marked bike as easily as an unmarked one, and it will increase the chance of getting your bike back if it is stolen.

Mechanical security

Highly effective locks and chains are now available to protect your bike. As well as being a good physical deterrent, they are also a good visual deterrent. The opportunist thief is not going to want to spend time trying to get a lock off a bike as this will increase the chance of being caught.

Lock your bike to something solid and immovable like a bike anchor, and keep locks and chains off the ground as this makes them harder to break.

Electronic security

Having a Thatcham approved security system† on your motorbike may help keep the price of your insurance down. Thatcham is the industry standard for safety and quality and is recognised by all insurance companies.

Devices are graded by Thatcham in the following order:

• Thatcham grade one: Alarm and immobiliser
• Thatcham grade two: Immobiliser
• Thatcham grade three: Mechanical security such as a ground anchor or chain

If you have a motorbike alarm and/or immobiliser fitted it is less likely that your motorbike will be stolen. You can therefore expect to pay less for your insurance policy than someone who has no security device on their motorbike.

Parking

Park in safe, well-lit areas. Try to look for a public car park that is part of the police approved Safer Parking Scheme. For further information and the location of your nearest safer car park scheme, go to www.saferparking.com.† Use a motorbike cover whenever your motorbike isn't garaged.

Vehicle value

The more expensive a motorbike is the more it will cost an insurance company to repair or replace it if you make a claim on your policy, so the more they will charge for your insurance.

Vehicle age

If you own an older motorbike you may well find your insurance quote is less than if you wanted to insure a newer bike. This is because the cost of replacing parts or the bike itself will be much less if you make a claim. The insurance quote should reflect this.

This doesn't apply to collectables or classic motorbikes. Although these may have been manufactured and produced some time ago, the cost of parts or replacing the bike for an insurer could potentially be very expensive as they are rare and difficult to find. A specialist classic motorbike insurance company should be able to offer you a competitive quote.

Vehicle use

What you use your motorbike for will have an impact on the cost of your insurance premium. Just using your bike socially to visit friends, or at the weekends in the summer for enjoyment, means you are much less of a risk to your insurance company than if you use your motorbike to travel back and forth to work, or you use your bike for your work.

If you need business use on your motorbike then your premium may increase to cover the increased mileage you will be doing as you are seen as a greater risk of having a claim or accident.

Here are the different types of use for your motorbike. Make sure you tell your insurance company exactly what you use your bike for:

• Social, domestic and pleasure: Cover for day-to-day riding, such as visiting family, friends, or going shopping
• Commuting: Covers you to ride to and from one fixed place of work. It also includes travelling to, and parking at, a railway station
• Business use: Use of your motorbike in connection with your job, such as riding to more than one place of work
• Commercial travelling: Covers you and your bike for things like door-to-door sales

Your address

Where you live can affect your insurance premium. For example, if you live in an urban area there are high levels of traffic and so the chances of being involved in an accident are higher.

Motorbike insurance companies are aware of this and it will be reflected in the level of your quote. This doesn’t mean that living in the country means you won’t have a claim or accident, but with fewer road users it's less likely.

You may get a discount for keeping your bike locked in a garage overnight or parking it on a driveway rather than on the road.

Make sure you give your insurance company the address that you spend most of your time at. If, for example, you are a student who uses a motorbike while at university, tell your insurance company. Otherwise, if you try to claim on your insurance they may refuse to pay as you haven't disclosed the correct information about where your bike is kept.