The Motorcycle may be becoming more and more popular with the fashion conscious
and more practical with the young, but insurance companies are not big fans.
Accidents rates are alarmingly high, particularly with young riders. Riding a
bike without insurance is breaking the law.
Remember that accidents can happen at any time of day, as can thefts, so you
should expect your insurance company to have a call centre open 24 hours a day
to enable your call to be taken and your claim to be processed as quickly as
possible.
MOTORCYCLE INSURANCE Guide
When you go for your quote, you should ask about personal possessions cover. You
might also want legal expenses cover should you have to fight claims for
personal injury or loss of earnings. Then there is personal accident cover,
which is set up to insure you against injuries caused directly from an accident.
When looking for motorcycle insurance quotes, you need to think carefully about
what you want to be covered.
One thing that is important is that you take the
time to research the market, and get as many quotes as possible, so that you
have the best chance of finding the most appropriate and best value deal. Look
at the details on the insurance policy carefully, to find out what you are
getting for your premiums.
You ideally want something that includes free call out charges and labour,
although you should expect to pay for parts. Your quote should allow you the
opportunity to pay your premiums monthly, rather than having to pay all of your
insurance in one go. The monthly premiums should be collectable by direct debit.
By spreading your payments over a year you can make the cover more affordable.
It is important to know how insurance companies evaluate risk in relation to
motorbike insurance. There are a number of factors which affect the price you
are quoted, including:
The area you live in
Your occupation
What use you have for the vehicle
Your age
Your past driving record
Whether or not the vehicle is garaged overnight
Whether or not security devices are fitted to the vehicle
The cost of repair or replacement of the vehicle
The performance of the vehicle
The likelihood that it will be stolen
Unfortunately, there is very little that can be done about any of these factors.
On no account should information be withheld or false information given to the
insurance company as the policy will be invalidated immediately the truth is
known. There are some legitimate ways to reduce the costs however, as outlined
in the following pages of this guide.
Other Advice
1. No Claims Bonus - The best way to bring down your insurance premium
is to keep you nose clean and earn some 'No Claims Bonus', even if it means a
year or two on a lower cc bike. Two years 'No Claims Bonus' may make the dream
of a top sports bike possible.
2. Security - Use an insurance approved lock and alarm combination.
Alarms are useful, but more and more thieves are stealing bikes by lifting them
into a van. Attaching your bike to an immobile object with an insurance approved
lock will deter most thieves.
3. Limit Mileage - If you ride under 5000 miles a year, some insurers
will give extra discounts, however if you ride over this, be pre-pared to pay
the difference or have your claim kicked out!
4. Voluntary excess - Having extra excess on your policy can save you
money off your insurance, but beware; it'll cost you if you claim.
5. Shop around - Different brokers have different deals for different
riders, some brokers give extra discounts on-line. Check out magazines and ask
friends.
- Ask how much excess is on the policy; don't get a nasty surprise at claim
time.
- Are legal expenses (you'll need it if you have an accident, so make sure it's
included at the start) included in the price? Don't get stung for an extra £20
on top of your insurance.
- A cheaper policy can equal low cover with lots of policy restriction. Ask what
garaging; mileage and security restrictions are on the policy.
