subject: Uk Motorbike Insurance Requirements [print this page] Insuring your motorbike guards you against financial loss in case you have an accident while driving your motorbike or get sued for damage to property caused by your motorbike.
Considering the soaring cost of motorcycle repair or replacement, insuring your motorbike is a practical investment as a hedge against these possibilities. What are the requirements for this insurance?
Obviously the first thing you would need to apply insurance is to have a valid driver's license. No valid driver's license, no motorbike insurance. It's as simple as that and no insurance company would gamble their stakes on this basic requirement. If you have no license, then you are not fit to drive any motorized vehicle. If you have a provisional licence then you'll need to opt for insurance which covers you, however this will not be cheap due to your inexperience. The sooner you can get a full licence the better for your pocket.
You should have a motorcycle license before applying for motorbike insurance. The license indicates your ability to handle a specific type of motorbike or the license will indicate if it is for motorcycle only or motorcycle also. The written and road tests involve testing your familiarity with traffic signs and the sharpness of your vision.
If you are financing a motorbike, lenders require a comprehensive and collision insurance cover. Be warned that you should always replace parts with the same motorcycle parts or you cannot get insurance for a replacement part if that piece is damaged. A comprehensive and collision insurance covers damage, theft, and personal injuries.
If you have a personal insurance or house insurance, get your motorbike insurance from the same insurance company. Ask for a higher discounts from the insurance company. This can lower your monthly payments by 30%. Check out the list for discounts to find which you can use, consider raising your voluntary excess, however you need to be prepared to pay from your own pocket should you make a claim.
If you have had no accident in three years, this includes if you drive or used to drive a car, have no driving offences in the last three years, low mileage deduction and if you are over 50 years old, you enjoy more discounts. Install anti-theft and anti-lock devices and you'll have additional discounts offered to you.
Basically the more way you can keep you and your bike safe the more discounts you'll be entitled to. Young riders will find that they pay the highest premiums as they are considered to be a greater risk. Likewise if you've been banned from driving, once the lifespan of the ban has expired you'll find that you'll be paying more for your motorbike insurance. Lookout for insurers who specialise if offering high risk riders low cost insurance.
The moral of the tale? Keep your driving record squeaky clean, abide by the rules of the road, use approved enhanced security systems and ride responsibly. This way you'll lower your risk to the motorbike insurance company and they'll reward you with qualifying discounts.
by: Tom Jones
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