Motorbike Insurance: What you need to know

2007-03-08 10:33:40

( Insurance )



You cannot take your motorbike to drive down any public road without getting the proper motorbike insurance. Aside from it being illegal, you risk paying for costs in the event of an accident.

There are three basic types of motorbike insurance.
1.Third party insurance. The cheapest motorbike insurance and also the legal minimum, third party insurance means you get paid only for property you might damage or persons you may injure.
2.Third party and fire theft insurance. This covers your motorbike in the event it is damaged by a fire or stolen.
3.Comprehensive insurance. The most expensive, comprehensive insurance pays for repairs on your motorbike if it is damaged in an accident. It also pays if the accident was not your fault and does not wait for the other party's insurance.

While keeping in mind the basics, you also need to consult a financial expert who can give you free motor insurance quotes. If you are inexperienced, it is difficult to draw the line between sound advice and sales chatter. These factors determine your motorbike insurance premium which may vary depending on the insurance company's assessment of their risks:
• AGE. Younger means less experience and lower hazard consciousness, thus a greater chance of being in involved in an accident.
• SIZE AND AGE OF MOTORBIKE. The more powerful your motorbike, the faster you are likely to drive. Even more difficult is a new driver with a big motorbike. The age of your motorbike however, will not matter unless it is really old which then qualifies it for Classic insurance.
• WHERE YOU RESIDE. If you live in a busy neighborhood with a significant occurrence of theft, your motorbike insurance will likely cost you more.
• CLAIMS AND DRIVING HISTORY. If you have a record for speeding or reckless driving, your motorbike insurance premiums go higher when you claim your license back. If you don't have a history of accidents or claims, some insurance firms give a no claims coupon which you accumulate and exchange for a discount after a certain period.

A motorbike insurance document contains the name of the insured, registration number of vehicle covered, type and duration of insurance and its conditions and exclusions. Keep your insurance document secure. You will need it when you renew your vehicle's excise license or when police want to see it. Along with the insurance document comes the policy document which contains all the details agreed upon by you and the insurance company. It is usually full of legal jargon so you may need to ask the insurance company to clarify any points which you can't understand.

You can purchase motorbike insurance through an insurance broker or go straight to an insurance company. Some motorbikes come with discounted or even free Honda motorcycle insurance, depending on the brand. You can also check online motorcycle insurance quotes or motorbike insurance online.


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