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If you’re looking for a cheap motorcycle insurance policy, qualifying for discounts is one of the best ways to save money without skimping on coverage.
With the right discounts, you’ll be able to craft the policy you need – whether it’s minimum liability coverage or full coverage motorcycle insurance – at the right price. (Learn more about the different types of motorcycle insurance coverage that may be available to you.)
This page will go over how to save money by using motorcycle insurance discounts, the typical savings you can expect, and who qualifies.
When you’ve got the information you need, be sure to start comparing free motorcycle insurance quotes right here at MotorcycleZombies.com!
How Much Can you Save with a Motorcycle Insurance Discount?
While the savings per discount vary from provider to provider, most motorcycle insurance discounts allow you to save anywhere from 5% to 10% on your policy.
Some larger discounts may even reach savings of up to 20%.
The discount will either be applied to your full premiums or a portion of your coverage.
Depending on which discounts you qualify for, there may be a limit to how many you’ll be able to use on a single policy.
Keep reading to learn about the most common motorcycle insurance discounts that may be offered by your provider of choice.
Common Motorcycle Insurance Discounts Available
Depending on the insurance provider, you may qualify for a variety of motorcycle insurance discounts.
We’ll go over some of the common ones below.
Anti-Lock Brakes (ABS) Discount
If you ride a motorcycle equipped with factory-installed ABS, some insurance providers will provide you with an equipment-based discount.
This discount will often apply when you fill out a quote and provide details about your bike.
Automatic Payments Discounts
Many providers will give you an incentive for setting up auto-payments.
This can typically save you up to 5% on your policy, and is an easy discount that most riders will be able to qualify for.
Early Signing Discount/Advanced Quote
Insurance providers like to incentivize you for switching to them from a different provider. If you complete a quote and sign a policy before your current one expires, you can typically earn a discount on the new policy.
Good Rider Discounts
If you’ve got a clean record of no at-fault accidents, no insurance claims, and no traffic violations, you’ll often automatically qualify for lower rates.
If this describes your situation, it’s a good time to compare a few different quotes.
Homeowner’s Discount
If you own your home, you’ll often qualify for a discount on your motorcycle insurance.
You can get even more from a homeowner’s discount on your motorcycle insurance when you bundle a home insurance policy with the same provider.
Loyalty Discounts
While switching providers is often the best way to save the most money on your motorcycle insurance, many providers will incentivize you to stay with loyalty discounts.
The longer you stay and renew your motorcycle policy with the same provider, the more discounts and perks they may offer.
Motorcycle Safety Course Discount
If you complete a Motorcycle Safety Foundation rider course, you can earn a discount on your premiums.
This type of discount is typically good for a certain period of time, and requires that you’ve completed an approved safety course within the past 24 to 36 months.
You may be able to take additional courses over time to continue to benefit from the discount. Be sure to ask your provider.
Motorcycle Club Membership Discounts
Do you belong to a motorcycle club? You can earn a discount for being a member. Some of the popular rider groups that can earn you an insurance discount include:
- American Motorcycle Association (AMA).
- BMW Motorcycle Owners of America.
- Gold Wing Touring/Road Riders Association.
- Harley Owners Group (H.O.G.).
- Honda Riders Club of America.
- Motorcycle Safety Foundation.
- Venture Touring Society.
Multi-policy/Bundling Discount
When you sign up for other policies through the same provider, you can often earn discounts on each one.
If you have an auto policy, home insurance policy, and other insurance coverage with different providers, it may be worth it to compare some quotes to see if you’ll benefit from a bundling discount.
Multiple Motorcycle Discount
Do you own multiple motorcycles? Adding another motorcycle policy with the same provider is another easy way to earn a discount on your premiums.
Pay on Time Discount
Insurance providers like it when you pay your premiums on time.
If you have a track record of making payments by the due date, you can often earn another discount.
Pay-in-Full
Many motorcycle insurance providers will incentivize you for paying your full premiums up front.
If you’re able to pay your policy in full when it’s time to renew or sign up for a new policy, you can earn anywhere from 2% to 10% off your total bill than if you were to pay monthly.
Policy Transfer Discount
Insurance providers like it when you switch to them from another provider. Switching to a new provider can often earn you an additional discount. Even if your current policy isn’t up for renewal yet.
That’s why it pays to compare quotes regularly.
Theft-Recovery Device Discount
If you’re getting comprehensive coverage on your motorcycle insurance policy, having a motorcycle that’s equipped with an anti-theft or GPS theft recovery system can often earn you a discount on that portion of your coverage.
How to Qualify for a Discount
Qualifying for a discount on your motorcycle insurance policy will depend on which discount you are going for and who your current provider is.
For some discounts, you’ll need to contact your current insurance provider and ask them to apply it to your current policy.
Other discounts are easier to get. All you’ll need to do is complete an online quote and satisfy the requirements.
Some discounts, like completing a motorcycle safety course, may require you to provide documentation to your provider.
Whichever discount you’re interested in, be sure to compare a few quotes from different providers. This will ensure you’re getting the lowest price on the policy you need.