When looking for motorbike insurance, it can be tempting to automatically choose the cheapest policy.
But are the cheapest policies always the best value for money? Let’s take a look at the most important factors of choosing an insurance policy, looking at everything from price to the policy itself.
Comparing the different levels of cover
There are three levels of motorbike insurance cover:
- Third party
- Third party, fire and theft
Third party is the base level and gives you the minimum legal requirement of cover.
Therefore, if you were involved in an accident, this option would cover third parties involved in the accident, but your own motorbike would not be protected.
It may comes as a surprise to learn that third party insurance isn’t always the cheapest, despite offering the least amount of protection.
Third party, fire and theft
This is the middle tier of cover. In the event of an accident, other parties are covered. If your motorbike is stolen or damaged by fire, you’ll be protected.
As the name suggests, this is the highest level of cover available. This will cover your own motorbike in the event of an accident, it’ll cover other people, and it will also protect your bike from problems such as fire and theft and accidental damage.
Contrary to popular belief, comprehensive cover isn’t necessarily the most expensive option. Comparing different insurance deals can help you get great value for money on full cover, if that’s what you’re looking for.
Choosing the right one for you
There are a number of factors to take into account when choosing which level of cover is right for you.
It’s also wise to think about how much the excess will be if you make a claim. The excess will be determined by the insurer and it’s non-negotiable.
Don’t forget to look into extra benefits. Some policies cover you even if you travel abroad with your bike and an accident happens in a different country.
Make sure you understand the policy details
It’s crucial that you familiarise yourself with the details of any policies you’re thinking of signing up for. That way, you can ensure that all your needs are covered.
The last thing you want is to pay a substantial amount in insurance each month only to find that you’re not covered in the event of an accident that you thought you were protected for so read make sure you read your documents.