To make sure people can cover the cost of any riding-related damage, the motorcycle insurance is required by law. The cost of repairing, or replacing your bike if it is stolen or damaged can be covered by the right motorbike insurance. Riding without it is against the law. Also, your insurance will pay for the repairs to another vehicle if you crash your bike into someone else. If you are looking for a suitable policy, then it is most important for you to understand what cover you need.
What does it cover?
If your bike is stolen, damaged, or you are involved in a road traffic accident, then a motorbike insurance covers it for you. It will also cover you if you damage the property or injure the members of public or other road users. You can take out temporary cover if you only ride your bike during the summer, or if you hire the bike. This policy usually last for 12 months.
Also, it depends on the policy you choose:
- Comprehensive – Along with the protection for third party damage, theft and fire, it will also cover vandalism and malicious damage, accidental damage to your bike, medical expenses following an accident and a temporary bike replacement if yours need repairing after an accident.
- A third party, fire and theft – This offers almost the same cover as third-party insurance and it will also pay you if your bike is damaged by fire or if it is stolen.
- The third party only – This cover is of minimum level required in the UK and it covers damage to other people’s property, damage to third party vehicles and injury to third parties including passengers. But it does not pay out if your motorbike is stolen or vandalized and also it does not cover injury to you caused by an accident or damage to your own bike.
Extra options included in motorbike insurance:
For an additional pricing, most of the bike insurer offers the option to add an extra cover to your policy. These extra options are
- Lost keys cover
- Helmets and clothing
- Personal accident cover
- European breakdown cover
- Legal cover and overseas use
What doesn’t get covered?
The most common exclusions of motorbike insurance are given below:
- Theft of your bike if your keys are left in the ignition
- Theft of your bike by a family member
- Bikes used in racing or competitions
- Loss of value following repairs
- Damage to helmets and protective clothing unless you have added a cover
To understand what you can claim for, you must always check your policy documents for what your insurer cannot cover.
What is the cost of motorbike insurance?
The cost will depend upon other factors:
- The age of your bike, its value, the size of the engine and any modifications you have made will affect the price of an insurance.
- Some jobs are considered morally riskier to the insurers as young riders pay more for motorbike insurance. One of the good examples is a stockbroker, they will be paying more than a teacher.
- To save money on your insurance premium, tell your insurer about any extra security you have in place. Because most of the insurers offer discounts for additional security devices such as alarms, immobilizers, ground anchors and disc locks.
- You will pay more for your insurance, if you had made any insurance claims in the last 5 years, have criminal convictions, or points on your license. However, you will get money off in case you have a no claims discount.
- The things like crime rates, and how much traffic is on nearby roads will affect the price. You may get discount on premiums if your bike is kept in a secure garage.
How to find cheap motorbike insurance?
There are many things you can do to keep down the cost of motorbike insurance and also there are many other things that can push up the price. To get a cheaper cover you can try to change any of the points such as:
- On your premiums, the security or a safety mod can earn you a discount. But if the appearance or performance of your bike is changed, then it could increase the price of insurance.
- It could cut the cost of a modest motorbike if you are born to be mild. Often the big engines and higher horsepower could rise up the cost of motorbike insurance.
- Depending on whether you want to carry a Pillion or not. The rider’s claims history you are insuring, the age and experience can affect the premiums.
- Add alarms and locks to your bike and keep it inside the locked garage because safe bikes will make insurers happy.
How can we claim it?
You should contact police and get a crime reference number if your bike has been stolen or vandalized. Then your claim can be settled with the help of your insurer by paying for repairs at an authorized garage, by sending you a check or by covering the cost of replacing your bike.
As your insurer pays your claim, he will deduct your policy excess from the final amount you get.