When it’s time to buy motorcycle insurance, you can’t go wrong considering the following four factors before you shop. Insurance companies pretty much all think alike. And these are the risk factors that they always consider when they figure your rates.

1. Driver age and experience — You may not be able to change your age or driving experience but be aware that the older the driver of the bike and the more driving experience (in particular accident free experience) the lower your rates will be.

Even so, younger riders as well as older can often reduce their rates by simply taking a safe driver class. Drivers of all ages will get significant rate advantages the longer their driving record is free of accidents and claims.

2. Motorcycle age and cost — Since it costs the insurance company more to replace newer more expensive bikes, it naturally costs more in insurance premiums to own one. Bike modifications can also significantly increase replacement and insurance costs. Don’t do them unless you’re willing to pay.

If you are a younger first-time biker you can significantly reduce your insurance costs by buying an older, lower powered and less expensive bike. Conversely newer model and higher powered or racing bikes naturally have higher replacement and accident risks and therefore higher insurance costs.

3. Storage and security — store your bike in a secure area and the insurance company will take notice. You will typically get lower rates if the bike is stored in a locked garage as opposed to outside on the street, for example.

Similarly bike security devices can have a significant impact on insurance rates. Check with your insurance company to see if discounts are provided for bike immobilizer devices. These can be found for $100 or less and they can provide a nice savings on your insurance policy.

4. Driver and passenger safety — Get insurance discounts for wearing the right safety equipment. Of course a helmet is a must, but some companies may give you discounts for other types of equipment and devices. Check with them.

Insuring extra passengers is expensive. So you can save money if you ride solo, or only carry passengers infrequently. Make sure your passengers have the same coverage as you and also wear safety equipment. The majority of lawsuits for biker accidents actually come from their passengers.

Once you have bought your bike a number of these factors are pretty much locked in. So it’s worth your while to think about this before you buy and or when you are changing bikes. You can save yourself a lot of money in your insurance bill if you take these factors into consideration.

Dan Danmenn enjoys writing informative reports and internet sites for motor-bikers on how to save money on insurance. If you learned something from this piece you might also want to visit his newest website Motorcycle-Insurance-Quotes.org where you can learn more about buying Cheap Motorcycle Insurance