Important Reminders When Getting Bike Insurance for a Loved One
Whether you’re buying bike insurance for a loved one or yourself there are a few important reminders to take note of. These include the suitability of the insurance policy with regard to various factors as well as insurance premiums.
Why bike insurance and ‘risk management’ is essential
The fact that bikers are eighteen times more at risk than other motorists is a reason in itself to take bike insurance and risk management techniques seriously. Here are three more.
- The casualty rate for bikers is much higher than motorists; 1,659 per billion miles travelled as opposed to 27
- Bikers account for just one percent of vehicular traffic but a shocking 21 percent of fatalities
- Bikers are most likely to have an accident on the weekend
These figures highlight the risks involved and therefore the inherent importance of taking out a suitable motorbike insurance policy and taking measures to enhance one’s safety.
Motor bike insurance varieties
Every bike and biker’s needs are different so it’s important that you understand the different varieties of motorbike insurance available to you so as to take out the right insurance policy for you and your bike.
Third party insurance
As with other vehicles, third party motorbike insurance is the lowest level of cover you can take out whilst adhering to legislation put into effect for the safety of us all.
Whilst third party insurance will cover other motorists, their vehicles and medical expenses, it won’t cover you or your injuries – this is the downside to the policy.
Third party fire and theft insurance
This is essentially the same as third party insurance except that it covers your bike if it’s stolen.
Full comprehensive insurance
Although it can prove quite expensive, which is why you should take note of the five tips below, this is by far the most advantageous motorbike insurance policy to take out.
Unlike the two basic policies discussed above, full comprehensive insurance will cover your bike for damage and yourself for injuries that require medical attention, so if you’ve just bought yourself a sweet Kawasaki and you’d like to keep it looking and performing that way, compare full comprehensive Kawasaki motorcycle insurance policies with the aim of taking out the most cost competitive policy available.
Five tips for reducing motor bike insurance premiums
Motorbike insurance premiums are a necessary expense, though that doesn’t mean you shouldn’t look for ways to reduce the premiums you pay.
In addition to using comparison websites to compare motorbike insurance premiums with the aim of sourcing the most cost competitive insurance policy available to you, here are five ways to reduce your premiums.
1. Limit your mileage
Some insurers will provide discounts on premiums if you keep your mileage below 5000 miles annually, though if you exceed the limit there’s a good chance your insurer will apply a loading charge.
2. No claims bonus
The fewer claims you make the lower your premiums will be. This means you should avoid making minor claims and perhaps look at riding a bike with low ccs if you’d like to own a superbike in the future.
3. Experience
Experienced bikers are often able to benefit from special premiums.
4. Enhance security
Motorbike theft occurs more frequently than you might be aware. When buying motorbike locks, alarm systems and ignition immobilizers, ensure that they’re approved by your insurer.
5. Voluntary excess
This is an excellent way to reduce insurance premiums though it can prove expensive if you need to make a claim.
Motorbike insurance is an expense but it’s a necessary one. Take note of these tips to reduce your premiums.
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Category: Insurance
