Due to the current downturn of the UK economy, more Brits are searching for a number of ways to reduce costs.

The number of motorcyclists on Britain's roads alone has soared as more Brits ditch their cars and turn to two wheelers as a cheaper option.

Yet with the recession worsening as the Government's black hole deepens, motorcyclists are being forced to search for even more ways to reduce costs futher.

In recent months, the number of motorcyclists opting out of bike insurance as a way to cut back on spending has risen.

However, according to experts, opting out of insurance is a "false economy" and can result in having to fork out higher costs which could leave you out of pocket.

Motorcycle riders are now being urged to take a different step to reduce their bike insurance premiums rather than opting out.

The importance of knowledge to your premium

Motorcyclists taking extra training could see the number of bike insurance claims made fall.

According to recent news from the Driving Standards Agency (DSA), riders enrolling on the Enhanced Rider Scheme would be less likely to be involved in an accident.

Trevor Wedge, the director for safer driving stated that a fifth of all fatalities and serious injuries on Britain's roads involve bikers.

He said: "This is a terrible statistic, but we believe that further training can help reduce this casualty rate by giving riders more knowledge."

Furthermore, the Institute of Advanced Motorists' (IAM) have launched a new guide to provide riders with the knowledge to handle difficult manoeuvres and real-life situations.

The guide, entitled, How to be a Better Rider, provides motorcyclists with advice on road positioning, cornering, filtering and steering.

Commenting on the guide, chief examiner of IAM, Peter Rodger said: "The advice is contemporary, topical and fully accessible to riders, whatever their level of skill and experience."

There are a number of other ways to reduce your premiums.

Get secure

With bike theft accounting for approximately 40 per cent of all bike insurance claims, riders must ensure their vehicle is kept safe.

Ensuring the vehicle has a security device such as an alarm or immobiliser can help prevent thieves from taking the vehicle. Some insurers offer a 10 per cent discount for riders who have an approved security device fitted to their vehicle.

Furthermore, keeping the vehicle in a garage could also save up to 10 per cent off the insurance premium.

Maintain a good driving record

Despite the Government scrappage scheme, a growing number of Brits are struggling to purchase newer bikes and are making do with the older ones - which are high in Co2 and high in insurance.

The chances of making a claim on a more powerful and older bike is very high as this will pose a higher risk to insurers and will therefore increase the insurance premiums.

As a result, it is important bikers maintain a good driving record to ensure their premiums do not increase.

Those caught speeding could witness an increase in their bike insurance costs.

Riding safely and cautiously will not only maintain the vehicles condition, but it will also reduce the number of accidents. As a result, the rider can benefit from a no claims bonus when it comes to renewing their bike insurance.