Available Cheap Motorbike insurance

 

Like car insurance, motorbike insurance comes in three sizes, third party, third party fire and theft, and comprehensive, and it functions the same way too. Third party covers you for damage you cause to a third party’s property, whereas comprehensive includes damage you cause to your own motorcycle. Fire and theft covers you for explosions, fires, theft and hijacking, and is cheaper motorbike insurance than comprehensive. Given that it covers you for only one peril, third party motorbike insurance is the cheapest.

The following factors also influence the cost of motorbike insurance.

There is such a thing. Although motorbikes are higher risk than automobiles, you can still find cheap motorbike insurance if you know what factors influence the cost of the premiums, and the different types of motorbike insurance available.

Bike Demographics

Younger drivers don’t usually qualify for cheap motorbike insurance, as they’re a higher risk to insure because of the ratio of accidents to driver age. Older drivers are more responsible and pay less on premiums each month.

The amount the driver claims from his or her insurance also influences the cost of the premiums. If you do not claim on your insurance, you can get cheap motorbike insurance, as insureds who claim less are less of an insurable risk to the insurance company.

Type motorbike

The difference between a Ducati 1198S and BMW K1200lt is more than just speed. It’s the price of insurance premiums. With all insurance, the more expensive the vehicle, the more expensive the parts are to replace, the more expensive the premiums. Further, the higher the risk of accident, the more expensive the premiums. For cheap motorbike insurance, buy a cheaper, less risky, motorbike.

Use of the bike

It goes without saying that if older drivers pay less for bike insurance for being less of a risk, then insureds who use the vehicle for commuting will pay less than those who race. If you race your motorbike (professionally or otherwise), you may need a specialist insurance company to underwrite you as you might find that direct insurers won’t take you on as a client.

If you do race your bike, you might want to become a member of a motorcycle club and insure through your membership. It may work out cheaper as the insurer can distribute the risk across a larger base of insureds.

Originally posted at: carandhomeinsurance.co.za

 

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