Insuring your motorcycle is as important as buying it. At times the entire array of insurance policies may sound confusing and a bit intimidating but it may prove to be a simple choice provided you are aware of the basics of motorcycle insurance. You should know that there are typically three types of insurance policies:

- Third-Party: In this type of Insurance policy the third-party is insured, mind it that you or your bike is not covered in this insurance. In case of any accident happening, this policy holds no good to you or your motorcycle however damages caused to the other party involved in the accident is fully paid by the insurer.

- Collision: As the name suggests this policy covers the repair cost of your bike in case it is met with any accident. However again, this insurance policy does not provide you with full coverage or claim.

- Comprehensive Plan: This insurance policy gives you the over all coverage for any mishap happening either to you, motorcycle or even the third-party. The cost of this motorcycle insurance policy may be slightly higher than the other policies but it is worth the extra money as it gives you the security and peach of mind.

Every category of Motorcycle insurance policy has its own benefits and risks and you should be well aware of all such side liabilities. The insurance policy, for which you pay a low premium, may make you pay more out of your own pocket in case of any claim in the end. Another important aspect to bear in mind is that you should always check whether the motorcycle insurance company will pay you the price of the bike or the final depreciated value. This would make a huge difference as you would not like to compromise with whatever depreciated amount is handed over to you.

As a customer you can venture many options of motorcycle insurance which may result into low premium however the insurance company also considers below mentioned factors while issuing the policy or settling a claim:

- The motorcycle company/brand

- The capacity and size of bike

- The age of the biker

- Biker's past driving records

- Previous history of claims, speeding or tickets

- The purpose for which the bike is bought - joyride or work etc

- Your area of residence

- Your past financial record

- The accessories or security features of your bike

Above definitely are the vital deciding factors for any motorcycle insurance company while issuing you a fresh policy or even deciding your premium. However there are many other ways to reduce your premium. One of them is by paying off all your existing debts on your bike as when you take a loan the credit institution usually want some security for covering up there loans in case of a default and by paying off your loan you can be entitled to any kind of insurance you want to have bearing in mind the risk you are willing to sustain.

Another option is to have a clean road history. The lesser tickets issued the better is the track record. Low premium can also be acquired with a white credit history. If you have not defaulted in any of your past credit payments then it surely is liable to create a good impression and insurer would appreciate your sense of responsibility.

In the haste of obtaining a low premium do not forget that low premium always may not mean a good policy. Buying a motorcycle insurance policy is in no way different from buying any other insurance policy, you just have to ensure that your fundamentals are clear and you know what you want.