Motorbike Insurance
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Motorbike Insurance
The law in the UK states that “driving a vehicle on a road or in a public place without insurance against third party risk is an offence”. Therefore, if you own or have access to a motorbike that you intend to use on public roads, you must insure it. If you are involved in an incident involving another party and you are unable to prove you are insured, the resulting fine to you could be a hefty £5000, depending on the seriousness of the incident, and an endorsement on your licence of between 6-8 points.
Insurance companies structure their prices based on the likelihood of a claim being made, so certain criteria will affect the price you will be quoted. For example, if your motorbike has been modified in any way, is a top luxury or sports model and tempting for thieves, if your driving history indicates previous incidents, or you are a recently licensed motorcyclist, your quote is likely to be higher than others. Conversely, if you have invested in a reputable security system for your bike and your history indicates a careful motorcycling history and high no claims bonus, your insurance premiums are likely to be lower.
When you apply for motorbike insurance, you can expect the following questions to be asked:
- the motorbike details, including make, model, registration details
- what the bike will be used for, eg. personal or business use
- where the bike will be stored
- the ages and occupations of the people who will be driving the motorbike
- any penalty points on your licence or convictions for driving offences
- any no-claims bonus and how long you have been riding for
- any recent insurance claims
Your insurance policy shows who can ride your motorcycle, what purposes it can be used for and whether you are permitted to ride other motorcycles. The certificate of motor insurance does not, however, indicate the full policy cover. You are likely to find these details in your policy documents. Most policies will cover theft and accidental damage of your bike and named accessories in both the UK and the EU as standard.
This means that if your motorcycle is stolen, damaged or destroyed, your insurance company will either:
- pay for your motorcycle to be repaired
- or replace your motorbike
- or pay the amount of the loss or damage
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You don’t necessarily need to be driving the motorcycle at the time of an incident to make a claim. Often damage can occur to parked vehicles in car parks and on roadsides. You also don’t need to have an incident with a third party. An altercation with a tree, bollard or lamp-post will also constitute an acceptable claim provided that the incident could not have been avoided by any reasonable measure taken by you. The maximum amount they are likely to pay will be the market value of your motorcycle immediately prior to the loss according to how it was estimated on your policy schedule.
Generally, if your motorcycle is immobilised through loss or damage, your insurers will cover the cost of transport and delivery to the nearest repairers, and occasionally the cost of delivery to you after the work has been completed. If your motorcycle is damaged beyond repair, or stolen and not recovered, you should be able to claim a replacement with a new motorcycle of the same make and specification.
If you have been involved in an incident where a third party has also been damaged and you are found to be at fault, a fully comprehensive policy will cover the costs of both the damage sustained by you and by the third party (or parties). A third-party only policy will only cover costs for the other party’s damages and not yours. Other benefits may include the cover of repatriation of the motorbike from an EU country, payment of medical expenses following an accident, and no claims protection options and discounts. Ensure that the policy you choose also states that it complies with EU directives.
Most policies enable you to reduce your premiums if you agree to an excess payment. This is often set at between £150 and £250, and means that if you need to make a claim against a loss, theft or damage, the costs are reimbursed in accordance with your policy less the excess agreed. The higher the excess, the lower your premium will be.
Many motorcyclists enjoy discounts for a history of claim free riding, advanced training, secure overnight garaging, restricted mileage per annum and approved motorcycle security systems. Female riders are usually offered more competitive quotes too
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