Buying Insurance
There are many outlets from which to buy insurance, online, telephone, direct to one insurance company or through a broker. Different companies offer better deals to certain types of rider. Some give preferential rates to older experienced riders, some are more competitive for the novice rider so it is often a case of shopping around for quotes. the Internet is a good place to start, but if you are unsure about the types of options available, then it may be a good idea to speak to a broker.
In all cases, there is normally 3 main types of cover
- Third party only- This covers just your legal liability for injuring other people or damaging their property. This is the insurance you must have by law.
- Third party fire and theft- In addition to the above, this provides cover for loss or damage to your bike by thieves or fire.
- Comprehensive- This provides the cover above plus protection against accidental damage to your vehicle.
In most cases, the premium you pay for your cover can be reuced by the following factors
- Introductory discount
- No claims discount
- Voluntary excesses ( you are liable for a set amount of the cost of any claim)
- Discounts for secured parking overnight
- Specialist cover for older motorcycles
To provide you with an accurate quotation for your bike, an insurance company will the following information. Having this to hand will save time:
- Vehicle details - make, model, registration, age, value, capacity (cc), will it be garaged?
- Driver details - date of birth etc and driving history i.e. previous accidents and convictions.
- No claims bonus - entitlement showing the name of your current insurer and policy number.
- What kind of cover you will want - comprehensive or third party fire and theft.
- What the vehicle will be used for - domestic or business
- What sort of excess would you be prepared to pay - i.e. the amount you would wish to pay towards a claim
- Any restrictions - to who can drive the vehicle or for what purpose.
Be in posession of a valid certificate or cover note before riding your bike on the road, failure to maintain up to date insurance may result in a conviction, which could be very serious in the event of an accident.
