Motorcycle Insurance
If you use a motorcycle on the highway or any other public road you are required by law to have in force a valid certificate of insurance covering your use of the machine. If you ignore the law and use an uninsured machine, you may be given a heavy fine, penalty points on your driving licence and be disqualified from riding for a long time.
You may already have found that insuring a motorcycle is expensive and very difficult to obtain for some young riders. The reasons are that insurance companies recognise that motorcycling is a high risk activity.
Statistics released by the Government indicate that 25,641 motorcyclists were injured and 585 were killed in accidents on the UK's roads in 2004 alone. There is no suggestion that the riders were in any way at fault in every case, but the plain fact is that motorcyclists are vulnerable and are naturally less protected and far more exposed than drivers of cars and lorries.
Motorcycle insurance comes in three main types that are generally known in the insurance business as follows:
Third Party Only: This is the most basic cover that allows you to legally use a motorcycle on the road. It provides cover for any damage or injury caused to any other road user as a result of the use of the insured machine on a road. It does not provide cover for any damage to the insured machine or for any injury to the rider and it does not cover the insured machine if it is stolen or if it catches fire.
Third Party Fire and Theft: This type of policy provides the same level of cover as Third Party insurance with the additional benefit of cover for your motorcycle being stolen or if it catches fire.
Comprehensive Insurance: This is generally the most expensive form of vehicle insurance providing the same level of protection as Third Party Fire and Theft but importantly covers the cost of repair or replacement of your own machine if it is damaged in an accident.
Policy costs depend on many factors including the size and power and value and make of the motorcycle. Rider age, experience and riding history are probably the biggest issue, because if you have shown that you are a 'high risk' you will have to pay a substantial amount more. Premiums also depend on where you live and how good the security on your machine is. High crime areas are known to the insurers who weight the policies accordingly, but premiums will come down if you have an alarm and an immobiliser and garage your machine each night.
It is up to the individual to decide on what level of insurance is right for them. Very often it is a question of economics, after all if your motorcycle is not very valuable then third party cover may well suit your needs.
There are a great number of insurance companies advertising on the internet who specialise in motorcycle insurance. They all offer different benefits and it pays to research suitable companies and ask for quotes. Before you agree to the terms, make sure you understand them and that the cover offered is adequate for your requirements.
Online motorbike insurance quote.
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