Motorbike Insurance Tips - 10 Sep 2009 21:00
While insurance companies offer the same types of insurance for bikes as they do cars, that is third-party insurance, limited liability insurance and comprehensive insurance, the premiums are worked out differently. Probably more expensive than your car insurance, your motorbike insurance involves an increased risk of accident and damage because of its increased risk. Not necessarily because it has half the amount of wheels and less protective covering than a car, it’s slightly faster too, and with speed comes increased risk.
Although car insurance premiums also depend largely on they type of car you drive, the premiums for motorbike insurance are based more exclusively on this than your driving experience, age and gender (although these factors do count). The size of the engine of the bike is directly proportionate to the amount you pay in premiums. The bigger the engine, the higher the premium. This means touring bikes cost less in terms of insurance than super bikes.
The cover that you choose must cover your basic requirements – replacement in the event of theft, accidental damage and third party. While you may not cause that much damage to other vehicles on the road as they will cause to you, there is no way around third-party insurance.
Any non-compliance with legislation voids all motorbike insurance. This means if you do not have a license or it has expired, or you give a lift to passengers on your bike with out having the full license to do so, means your insurer just found a loophole to reject your claim.
While most insurers won’t ask for extra security measure to cover your bike, it might benefit you to add some kind of early warning system or steering lock. You will also want to update your insurance policy every year as each year your grow older, the more experience the insurer thinks you have and thus should reduce your premium – depending on the insurer.
While insurance companies offer the same types of insurance for bikes as they do cars, that is third-party insurance, limited liability insurance and comprehensive insurance, the premiums are worked out differently. Probably more expensive than your car insurance, your motorbike insurance involves an increased risk of accident and damage because of its increased risk. Not necessarily because it has half the amount of wheels and less protective covering than a car, it’s slightly faster too, and with speed comes increased risk.
Although car insurance premiums also depend largely on they type of car you drive, the premiums for motorbike insurance are based more exclusively on this than your driving experience, age and gender (although these factors do count). The size of the engine of the bike is directly proportionate to the amount you pay in premiums. The bigger the engine, the higher the premium. This means touring bikes cost less in terms of insurance than super bikes.
The cover that you choose must cover your basic requirements – replacement in the event of theft, accidental damage and third party. While you may not cause that much damage to other vehicles on the road as they will cause to you, there is no way around third-party insurance.
Any non-compliance with legislation voids all motorbike insurance. This means if you do not have a license or it has expired, or you give a lift to passengers on your bike with out having the full license to do so, means your insurer just found a loophole to reject your claim.
While most insurers won’t ask for extra security measure to cover your bike, it might benefit you to add some kind of early warning system or steering lock. You will also want to update your insurance policy every year as each year your grow older, the more experience the insurer thinks you have and thus should reduce your premium – depending on the insurer.