Motorcycle insurance is not the same as car insurance. A motorcycle and a vehicle are two different things. Two blokes cannot pick up a wrecked car and place it in the back of a van. A car that has been hit by loose gravel is unlikely to cause a front-end washout, leaving you with a bunch of acute angles along the side of a country road.
Although motorbike insurance can be one of the most frustrating aspects of owning a bike, it could also be the most important. It’s easy to overlook insurance, thinking it is a waste of money. But it could make the difference between having peace of mind and, in worst cases, bankruptcy. There are many options for commercial insurance on motorcycles. It is different from compulsory insurance. Prices and applications vary depending on your personal circumstances. There are many options available these days.
First, fully comprehensive insurance covers almost everything. But, be sure to read the fine print. What you consider comprehensive might leave you without the ability to replace your entire gear or cover all your medical expenses.
Although it is the most expensive type of insurance, full comprehensive will protect you from most things. It is worth weighing the price of the insurance premium against your motorcycle’s value to determine if it is an economically viable option.
You should be aware that lenders may require comprehensive insurance if your bike is purchased under finance.
It covers damage to third party property that is caused by an accident. This does not only cover the vehicle that was involved in an accident but also houses, fences and parked cars as well as any other property that might be damaged by an accident.
Many insurance companies offer a fire and theft policy. This policy is often used for non-registered bikes like dirt bikes and race bikes.
Insurance companies may offer you coverage for both fire and theft and third-party property. Talk to your insurance company about your riding gear. This will ensure that your pride and joy and your own health are protected.
While many policies claim that your gear is covered, it’s possible that you won’t be able to replace your expensive riding pants, jacket, gloves, or boots.
You can negotiate a policy that covers the replacement cost of your most important kit, or “new-for-old” as it is often called. This will ensure that when you arrive at your destination to find your gear gone, you have the assurance that it will be replaced so you can go on your journey knowing you are adequately covered.
You’ve made the decision to protect yourself, your bike, and your kit. Now it’s time to shop around for the right product to fit your needs.
This can be done by you, either by visiting other helpful websites or hiring an insurance broker to help. Even though you might think it will be cheaper to not disclose all information about your bike, modifications, or past driving and riding records, you could end up paying more in the long-term.
Be honest with insurance companies and be clear when you brief a broker about your needs and wants.