Motorcycle Valuation Guide To Determine The Maximum Amount Paid For Parts

motorcycle valuation guide

There are a lot of people who were scammed by their insurance provider. Some were even cheated of their entire savings because they were sold a bike that was far over its true value. This is how the insurance scam works. But what can you do when it comes to your motorcycle?

First of all, you should get yourself informed about how insurance providers determine the value of a motorcycle. They do so by using several factors, such as the age of the bike, its make and model, its general condition, the mileage it has covered, and the number of instalments it has had made. When an insurance provider quotes you a price for your new motorbike, they are basing their quote on the information you provide them with. They may even ask for your contact information so they can send you a reminder about your premiums.

A Rip-Off Insurance Provider

A person sitting on a motorcycle

In order for you not to be taken in by a rip-off insurance provider, you need to know just what they base their quote on. According to them, the most important factor that determines the amount payable to your insurer is the amount of instalments your motorcycle would require. They take this into account because the longer the time you have had your motorbike insured, the more they will charge you for your premium. It would take you a very long time indeed to pay off all the instalments if you had never had your motorbike insured before.

One of the ways they determine the price of your premium is by looking at the number of years your motorcycle has been in operation. If your bike has been in the market for more than three years, your insurer is less likely to consider you a risk and so they will offer you a lower rate. The longer your motorbike has been in the market, the more your insurer sees you as a low-risk client. So when they give you the quote, it will include a higher amount payable for your monthly instalments.

Claim History

A motorcycle parked on the side of a building

The next thing your insurance company will do before deciding on the amount payable is to look at how many claims you have had made against it. This is where the process gets complicated. You see, they will take your claim history into account before deciding how much your premium should be. The more claims you have had against your bike, the higher the amount of instalments you would be expected to pay. Therefore, you need to make sure that you keep yourself well-informed on the subject of claims and how they are included in your quote.

Another thing your insurer will look at before deciding how much your premium should be is your age. The younger you are, the higher your monthly instalment payments would be. Of course, you can always go back to school and get a degree, but if you don’t, you will probably have to go on full time education. And even then, you could incur huge costs on your education.

Employment Status

Your current lifestyle and your employment status will also be taken into account when determining how much your premium should be. For instance, if you lead a frugal lifestyle and live without debt, you won’t have to worry about increasing your monthly instalments. However, if you lead a rather hectic lifestyle with a lot of credit card debts and spend a lot on your vehicle each month, you will have to consider how much your motorcycle is worth to you.

You can do this by using the help provided in your insurance policy schedule. But remember that the purchase price you have agreed to with the repairer will also be included in the amount payable.


So before you sign the contract, you need to understand all these factors. Remember that even if your policy states that you are not required to pay an extra premium for a covered component, you could end up having to pay for it. This is why you should use your motorcycle valuation guide to determine the maximum amount payable for your parts. After all, you don’t want to end up paying more than you have to. After all, your purchase is most likely your largest investment, so you want to make sure that it is well protected.

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