Your Guide To Motorbike Insurance

Getting your first motorbike is exciting and you can’t wait to get out on the road. Okay, the insurance side of things isn’t the most exciting part of the process but hey it’s necessary. Accidents do happen and you need to be covered correctly in case they happen to you. Let’s take a look at the basics of getting your first motorbike insurance.

Rating factors

Some aspects of motorbike insurance are similar to car insurance while others are a little different. Bike insurance uses rating factors similar to car insurance, though these are specific to the type of vehicle. The type of bike is a big factor as with car insurance – the bigger the engine size and the higher spec the bike is, the higher it is rated. Any modifications to the bike can also cause problems and, as with cars, some insurers won’t cover modified bikes. Security on the bike can help bring the price down.

You as an individual are also a rating factor on the policy. Your age, the type of license you have and how long you have had it all come into the price. Where you live can affect your insurance cost, as can where the bike is kept. Some insurers will only cover bikes if they are kept in a locked building such as a garage or outhouse, rather than just left on the drive or street. Finally, what you use the bike for is also relevant – do you just use it for pleasure on a weekend, do you commute every day to the same workplace or do you need other use?

Cover levels

As with car insurance, there are three cover levels for bike insurance – comprehensive, third party fire and theft and third party only. Each offer different benefits with comprehensive, as the name suggests, being the fullest cover.

Third party only, often abbreviated to TPO, is the basic minimum level of cover you can have to be on the road. It doesn’t cover any damage to your bike in an accident or any personal injury. It also doesn’t cover if the bike is stolen or damaged by fire.

Third party fire and theft (TPFT) is the middle level and adds cover for the bike being stolen, damaged by fire or any damage caused in an attempted theft. Otherwise, there is no cover for damage to the bike in an accident.

Comprehensive (COMP) is the full cover and includes cover for damage to your bike when you are in an accident that is your fault as well as for vandalism and medical expenses resulting from an accident. Some policies include various extras including a replacement bike while yours is being fixed.

Check the small print

Whatever policy you look at, always check all the small print before sighing up. Policies have a number of exclusions or special conditions that can impact what happens in the event of an accident. You also need to check all the information you have given is correct and accurate as incorrect information could lead to your policy being voided and you facing bills for your own and other people’s damage.