A short guide to motorcycle insurance costs

It's a good idea to use specialist motorcycle insurers

Posted: 13 October 2011
by Visordown

There is a lot to consider when attempting to get the right insurance policy for your beloved ride

Owning a motorcycle is certainly an exciting decision - getting out on the open road, enjoying the fresh air, and avoiding the hassle and often undue expense of owning a car. But at the same time there is always an element of risk involved in owning and riding a motorcycle. This is something which will certainly need to be taken into account when buying bike insurance. The insurance companies will have a wealth of information regarding the safety statistics of various different styles and models of motorcycle, as well as the circumstantial factors of each owner and their lifestyle. Therefore, it is important to ensure you get the right policy for your individual needs.

A good option is to approach a specialist insurer for a quote - companies like MCE Insurance are particularly adept at understanding the needs of motorcycle owners, and working with you to ensure you are covered as required. When applying for a quote, you will be able to choose what level of insurance cover you prefer. Generally you can decide between three main options: third party; third party fire & theft; or fully comprehensive. The cost of each policy will obviously vary depending on the level of cover you require, but there will also be other individual factors to be taken into account when assessing your insurance quote.

There are a number of different factors an insurance company must consider when issuing a motorcycle insurance policy. The particular make and model of the bike and specific risks associated with it will be taken into account, as will the occupation of the driver and the risk of their commute and location of their work. Security will also be a huge consideration and the statistics for vehicle theft in your area and whether you keep your bike securely stowed in a garage or not will also be influencing factors in the final quote price. Previous driving convictions and claims will also be looked at, so safe driving makes financial sense as well as basic common sense. All of this helps the insurance company put together a profile of risk which they can then use to create a policy which is just right for you. They will also look into whether you have accrued a No Claims Bonus over the years (on a motorcycle), and if you have, then you will find this will lower your premiums.

Often the cost of the insurance is worth looking into before you buy your bicycle, as having insurance is an important part of being a bike owner. Insurance companies may stipulate certain conditions before the insure you, such as having an alarm or an immobiliser for your motorcycle if you live in a high-risk theft area, or have a bike which is statistically more likely to be stolen. And of course, your excess will be determined by your overall risk profile.

Make sure you will be able to get a policy you are happy to pay for, and which will cover you in all instances, before making that big bike purchase. Using the information above, you should be able to anticipate areas which will likely increase your insurance premiums and take action to get a better deal. Then you can get out on the open road, and enjoy the fresh air with added peace of mind that you have the cover you need.

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Can anyone advise on bike insurance for a bike carried onboard a sailing yacht. The idea is to have basic transport wherever the boat goes. I did hear about a bloke who had something like a Bultaco Matador 250 which had a British tax disc and a GB plate. Whether this was actually legal in bongo-bongo land was debatable but he managed to get away with it. A bike like that is ideal on dirt roads and there is no nasty black crankcase oil to spill when the bike is dismantled and on the boat. Probably one is supposed to have a wad of carnets and things for the legal stuff but what is the situation?

Posted: 18/10/2011 at 14:31

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