Are you looking for cheap motorbike insurance?
If you own a motorbike and travel on the road you should have motorbike insurance. Traveling without insurance is illegal and can put you in big trouble. Motorbike theft is also big business in the UK, so you may be a little reluctant to get your insurance.
Found? Okay, now let’s focus on finding the best deal for you. There are many ways to reduce the quality of your motorbike insurance without compromising.
First Step is to Decide the Cover You Need
Everyone’s needs are different and a cover that fits your fellow biker may not fit you. Make sure you understand what the different types of cover offer are. That way you can be the best judge for what you want rather than the insurance broker on the other end of the phone.
Here are the types of covers you can get. Remember, insurance policies are different so make sure you check all the terms and conditions before signing the dotted line.
Third party only
This is the basic type of motorbike insurance you can get. Motorcycle Insurance This covers you against damage to third party property and / or themselves in the event of a collision. It pays nothing to fix your bike or for injuries you suffered due to a crash. In short, the person you ided with will be financially covered, but you will be on your own. Even if your bike is stolen or set on fire (it happens!) Your ‘Third Party Only’ cover will pay nothing for retrieving or repairing your bike.
Third Party Fire & Theft
These Terms apply with ‘Third Party Only’ cover, except for this insurance policy, which must be paid if your bike is stolen or set on fire.
It is the most expensive type of cover because it provides the most security. This covers third parties and their property, preventing your bike from being stolen or set on fire and causing any damage to your bike.
Modified and customized bikes
Motorcycle Insurance If your motorbike is modified or customized in any way, shape or form, you must notify your insurance company. If you do not sue, your cover may be considered invalid.
Some insurance companies do not touch modified or customized bikes with barge poles. Edits are not always focused on security so you can understand where they are coming from. See Bennett, DeWitt or Bike Insurance from Carol Nash if your bike is modified. They have their limitations, but these guys are experts in the modified field and can help.
Second Step is to Use Tips to Save Money
Reduce your motorbike insurance costs with these simple tips:
Park in the Garage – Insurers prefer to keep bikes in a safe place, instead of sitting pretty and vulnerable on the side of the road. Park in your garage and some insurance companies will reduce your fee by 10%.
Set Alarm – According to motorbike insurance companies, Bennett is responsible for 40% of motorbike insurance claims. Shocking eh? If you install a good, recognized alarm / immobilizer, you can get up to 10% off your insurance cost. Thacham safety devices are highly respected by insurance companies, and can also be purchased on eBay (make sure it works perfectly before you buy).
Take a riding course – Completing an advanced riding course will reduce the amount of insurance you have to pay. See the Institute of Advanced Motorists website for information on their approved courses.
Reduce how far you travel – low mileage equals cheap insurance.
Go for voluntary extras – you will be more willing to pay less for your premium rate.
Remove your pillion – If you travel without a pillion (passengers) the insurance companies will give you a cheaper contract.
Keep a clean license – A clean license guarantees insurers that you are not responsible. So keep it clean!
Shop around – always go on different shops and never ever don’t go for the first motorbike insurance which you find. There are so many great companies competing for your business and there are tons of comparison websites that do all the searches for you. Get started and compare both MCNs who can find you great.
Take care of your bike – keep your bike in good condition and you will have less to claim anytime. No claim is equivalent to cheap insurance and there is no additional fee.
Step Three is to Shop Around
There are good reputable motorbike insurance companies out there, so you don’t have to wait for a choice. These guys are accustomed to meeting the demands of bikers so they can handle it no matter what your situation. See Bennett, DeWitt, Carol Nash, Gokompare and Motorcycle Direct.
Learn to be awkward. Get a quote, and then shop to see if you can beat it. If you find a company that is willing to charge you less, take their quote to the actual company you quoted and see if they beat it. You can save yourself a few hundred pounds by shopping.
Step Four is Insurance Lingo
You can insure about anything today and at any age. Football players insure their legs, singers insure their throats, Dolly Parton is rumored to have insured her, ahem… you get the point. Every insurance policy is different but some key phrases usually always pop up.
Understanding these phrases is key to having an insurance understanding. Learn what they mean and you will be well prepared to identify a good deal (see Step 1 for different types of insurance).
Premium – The amount you pay each month (or year) for your motorbike insurance.
Mandatory Extra – The amount you pay on any claim. For example, say your mandatory extra 200. If you say 3,000, you have to pay the first £ 200 and your insurance company will cover the remaining 8,800. So before agreeing to any deal, make sure you are happy with the high amount you have to pay.
Voluntary Extra – Most insurance companies will lower your premium rate if you volunteer to pay a higher amount. So your mandatory extra may be £ 200, but if you offer to pay 500, your premium will be reduced. This is a great way to get the cheapest motorbike insurance, but you will need to fork more when you need to make a claim.
Claims-free bonus – If you travel for a while and never claim, you should get less insurance. You are sometimes allowed to save the bonus on your claims by paying a small extra on your premium. If you claim that way, you will not lose the bonus of your claims. There are usually limits to how often you can claim, so check before committing.
You need to ask more questions
Before signing up for any contract, make sure you know the answers to these questions:
Do you have a multi bike policy (i.e. you are insured on more than one bike).
Can you really insure more than one rider on the same bike?
Do you have insurance to go abroad on your bike?
Can you buy extra cover? (E.g. helmet and leather insurance, broken cover).