Motorbike Insurance

For most motorbike riders, riding is a passion rather than a chore of simply getting you from A to B and rightly so - there is a lot to be passionate about: the variety of bikes, the speed, the grin factor as you zip past cars stuck in traffic jams, the cammeraderie. As with anything though there is always a downside and that is the cost of insurance. Motorbikes have some particular "features" that make insurance companies nervous:

a) Their speed - motorbikes and even scooters are getting faster and faster and unlike a car there are no airbags or SIPS so personal injury claims from pillion riders are expensive and the motorbike riders who own a sports bike often think they are on a track and therefore ride like it.

b) Motorbikes are small - and unless locked to something are easy to pick up and put in the back of a van to be driven away where the scumbags who practice this crime can take their time to disable the alarm / immobiliser systems. So no matter how good your immobiliser it won't stop someone picking your bike up. Lock it to something!

c) Most sports bikes and tourers have fairings and the fairings of bikes are disproportionatly expensive so even low speed crashes can write bikes off - fit crash bungs they can reduce the damage, but annoyingly insurers don't give discounts for them.

Insurance is a necessary (and useful) evil of biking so how can you make sure you get the best deal on insurance - Devitt insurance have some good tips on ways to do this:

  1. Type of cover - The minimum legal requirement is “Third Party Only”. This covers you for damage you cause to someone else and their property. It might be worth considering if the value of your bike is not high. Then there is “Third Party Fire and Theft”, which additionally includes cover for fire and theft and “Comprehensive” which includes cover for damage to your bike irrespective of whose fault the accident was.
  2. Excesses - A Compulsory Excess is an amount you have to pay towards the total cost of any claim you make for damage or theft. In addition to a Compulsory Excess, you may be able to add a Voluntary Excess in exchange for a reduced premium. But remember, you’ll have to pay the combined amount.
  3. No Claim Discount - Most companies will offer a “No claim discount” (NCD) for every year you do not make a claim which could save you up to 65% on your premium. For an additional premium, you can protect a maximum No Claim Discount.
  4. Riding abroad - A Green Card is no longer required to ride in EU Countries and many insurers include up to 90 days European cover. But you should inform your broker or insurer if you plan to travel abroad to ensure you have the cover you need.
  5. Modifications - Despite popular belief, most common modifications actually have little or no affect on premiums but you MUST tell your broker or insurer about it otherwise you risk having problems in the event of a claim.
  6. Training courses - There are various advanced training courses that are available which may help to reduce your premium, a good example is Bikesafe, where depending on the insurer you could save up to 10% on your premium.
  7. Security - A Thatcham approved alarm and immobiliser may secure you a further discount of up to 10%, whilst also providing some extra peace of mind.
  8. Optional extras - You may be offered Legal Expenses Insurance (which covers costs incurred if you become involved in claims for personal injury or loss of earnings) Personal Accident cover (which could provide up to £10,000 for injury) and Breakdown cover. All of these are likely to cost you more, but generally well worth purchasing.
  9. Mileage and Garaging - If you do less than 3,000 miles a year on your bike you may be entitled to a discount of up to 10%. But make sure you are honest about this, as with everything dishonesty will only cost you more in the long run. In addition, if you store your bike in a garage you may also be entitled to a discount which could range from 5% to 10% depending on individual circumstances.
  10. Specialist provider - Finally, the best advice is to arrange your insurance through a specialist provider who thoroughly understands biking and the insurance risks involved and will be able to advise you fully on all these elements.

 

Thanks to Devitt Insurance for this information - if you found it useful, check out Devitt's site and get a quote.

 

 

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