When it comes to getting insurance for vehicles, most people think of auto insurance. However, many people pay less attention to having insurance for our motorcycle. With the risks that come with riding a motorbike, it’s essential to obtain insurance and ensure that you get the right coverage. However, the right policy largely depends on the type of motorbike you ride and how you use it.
Here are the top three tips in choosing the right insurance for your motorcycle.
1. Check your motorbike type.
When it comes to choosing the appropriate insurance, you have to first check the type of motorbike you’re riding because policies largely depend on its engine sizes. Below are some common motorbike types.
- A motorbike: This type is a typically small, lightweight one.
- A scooter: This type has a step-through frame and a platform for the rider’s feet.
- A moped: This type is a small motorcycle with bicycle pedals, typically having a less stringent licensing requirement than full motorcycles.
Please be advised, however, that a broker is needed to have specialized cover for:
- A classic motorbike: This type of motorbike entails specialist parts for repairing, which is a bit costly to insure.
- A quad bike: Many motorbike insurance carriers do not offer specialist cover and online quotes for a quad bike.
2. Determine your level of coverage.
The next thing is to determine the level of coverage you need for your motorbike. In most cases, motorbike insurance has basic coverage. However, if you are willing to pay extra, you can have more comprehensive coverage.
Below are basic coverage types:
- Third-party injury
- Property damage
- Theft and damage
Optional coverage includes the following:
- Riding other bikes
- Legal expenses
- Helmets and clothing
- Personal accident
The type of coverage depends on the following factors:
- Age: You will pay more for your insurance if you are under 21. Make sure to look for specialist cover for young riders.
- Frequency of use: You have to assess how frequently you use your motorbike. You can have a temporary cover if you use your bike during the warmer months.
- Practical use: You have to assess what you are using your bike for—commuting, business, or courier service.
- Passengers: You have to consider the number of passengers riding on your bike.
- The number of bikes used: You will want to have additional coverage for riding other bikes if you own more than one motorcycle.
3. Consider cost-cutting on your insurance.
The last is to consider cost-cutting on your insurance for your motorbike. Here’s how you can save money on your motorbike insurance:
- Obtaining multiple quotes: It’s best to get multiple quotes and compare each to find the ideal coverage at an affordable price.
- Full payment upfront: Having full-payment upfront will help you save on paying interest on your policy. Chances are, most insurers add more interest when you pay monthly.
- Multi-vehicle discounts: It helps to opt for a policy that allows you to add several bikes to one insurance policy.
- Higher excess: Select a higher voluntary excess to save money on your premium, and make sure that you pick an excess you can afford.
When it comes to choosing the insurance for your motorbike, consider the three essential factors mentioned above. In doing so, you save yourself from unexpected expenses.
If you’re looking for motorcycle excess insurance in the UK, get in touch with Goodbye Excess to see how we can help!