The most recent figures released by the Department for Transport show that, in 2009, 21,500 casualties involving motorcycles occurred on Britain’s road. These accidents ranged from the incidental to the severe and, ultimately, fatal.
What is clear, above all else, is that, regardless of the skill of the driver, the threatening spectre of an accident forever looms large. The importance of taking the time to compare motorbike insurance and discover the perfect cover cannot be understated.
Bike insurance is there to cover the cost of damage and injuries incurred while riding so you don’t foot the expense. In addition, it offers cover to theft and accidental damage. In layman’s terms, three types of cover are available:
Third party
This covers the owner for injuries to others and their property as a result of a motorcycle accident.
Third party, fire and theft
As above with additional cover for your own bike in the case of theft or damage caused as a result of attempted theft or a fire.
Comprehensive
As the name suggests, comprehensive cover includes all the benefits detailed in the previous two insurance groups as well as the chance to make a claim for any damage suffered by your own vehicle in the event of an accident.
Such claims are subject to policy exclusions. Standard and optional extras are frequently available for all insurance policies including breakdown cover, travelling in Europe and using other bikes.
The importance of being insured while in charge of a vehicle cannot be overstated as it affects both yourself and others. According to statistics from the Motor Insurers’ Bureau, one in 25 road-users is uninsured. An estimate of 23,000 people are injured and 160 killed by uninsured motorists every year. The cost of uninsured drivers to insurance firms is a staggering £500 million a year whilst the problems generated from uninsured driving increase each individual annual premium by an average of £30.
Riding a bike without insurance is, put simply, breaking the law and can result in you being issued a fine, getting points on your license or having your vehicle confiscated by the police.
Though the insuring a bike may seem like an unwanted expense, it is nothing in comparison to the potential cost of failing to do so. In addition, there are hints and techniques to follow to ensure you get the right cover for you without any unnecessary expenditure.
– The importance of taking the time to look around and find the perfect premium cannot be overlooked.
– Knowledge and research are essential when it comes to getting cover without overspending.
– Your premium will be decided by an evaluation of your ‘risk level’ which considers a number of factors.
For example, as with a car, your claims history and driving record will be taken into account, as will the amount of time you spend on a road. Furthermore, your personal circumstances, parking arrangements and bike type can affect what you pay.
Typically, a small engine bike stored in a locked garage overnight will cost less to insure then a high performance alternative. Small details like consulting your provider over what security devices you could install all help keep the premium down.
Additionally, completing an approved advanced riding course will cut costs, as will agreeing to pay a higher excess. All policies will expect the rider to pay the first part of any claim, known as a compulsory excess. Offering to pay a higher excess, in addition to the compulsory original, should save money on your premium.
Insuring your motorcycle is an unavoidable legal requirement. Providing you take the time to research and check the, you can roam the roads in safety without breaking the bank.
