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Motorcycling is popular for a number of reasons. Bikes are
cheaper to buy and run than cars, and on Britain’s increasingly
congested roads, they are a great way to beat the traffic, too.
Of course, to ride a motorbike legally on Britain’s roads it's
essential to have a bike
insurance policy too.
There are a few different types of insurance available to
motorcyclists. These include:
Third party
This level of insurance covers liability for damage or injury
to a third party and damage to their property. However, it doesn’t
include damage to your motorbike or personal injury, or if your
bike is stolen or set on fire.
Third Party Fire and Theft (TPFT)
This provides a similar level of cover to third party insurance.
The key difference is that cover for your own bike is provided,
in the event of loss or damage is provided.
Comprehensive
This is the highest level of insurance, and one which might be
able to provide the most peace of mind. It will provide extensive
cover for yourself and your own bike, plus the associated cover
of third party insurance. There may be optional extras for leathers
or European riding, too. For riders who have completed their compulsory
basic training as well as their practical test, pillion insurance
for carrying passengers is an option.
Younger motorcyclists who have recently passed their practical
test are, unfortunately, subject to higher insurance premiums
than older riders. This is due to the increased likelihood of
being involved in a road traffic accident, and the insurance company
having to make a payout.
There are several ways in which young riders can save money
on their bike insurance.
Stay Safe
Building up a track record of safe motorcycling can make your
insurance cheaper in the long run. If you have a good ‘no-claims’
history, and a license that is free of convictions for speeding,
riding without due care and attention or worse, then insurers
will perceive you to be much less of a risk, and reward you with
a cheaper premium as such.
Avoid modifications
Keep your bike to factory specification, as modifications will
make insurance more expensive.This is because of the increased
risk of being involved in a road traffic accident, greater appeal
to thieves and higher costs of replacement.
Invest in security
Making an investment in devices approved by Thatcham can lead
to a cheaper insurance policy due to the reduced risk of your
bike being a subject of theft.
Lock it up at night
Keeping your motorcycle locked up in a garage or secure parking
overnight will also reduce the risk of it being targeted by thieves.
Agree to a higher voluntary excess
Doing this could make for a cheaper policy, but always make sure
it’s at a level you could comfortably afford in the event of having
to make a claim.
Limit your mileage
Driving within a fixed mileage will lower the chances of you having
an accident whilst on your motorcycle, so if it’s practical to
do so, go for a lower amount. (This may be more suitable for ‘weekend
riders’ than individuals who use their bikes day in, day out.)
Shop around for a deal
Don’t just accept the first motorcycle insurance quote you receive.
As there is a lot of choice in the marketplace, a better deal
may be out there. To help in your search for a cheap car insurance
quote, you could use a comparison website, which will allow you
to easily look at the prices and features of insurance policies
from many different companies by just entering a few details,
so you can find a deal which is right for you.
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