When shopping around for motorbike insurance, you will need to decide on what kind of cover you want from your insurance provider.
The type of cover you select will not only affect the overall cost of your premiums, but will also determine the financial consequences should you be involved in an accident or have your bike stolen.
By law, all UK riders are required to have a minimum level of bike insurance known as third party only insurance.
Third party insurance essentially covers you against any damage you you may cause to other road users or their property.
This is why there are countless police initiatives to cut down on the number of uninsured drivers on the road. The end result is their mistakes and accidents have to be paid for by the insurance industry, which in turn causes the cost of insurance for everyone to rise in price.
Whilst third party insurance is the minimum requirement by law, it is ultimately up to you whether you decide to opt for increased protection above this level. Alternative levels of bike insurance cover include third party fire and theft, and fully comprehensive.
The type of insurance cover you choose will obviously depend on factors that specific to your situation. For example, how much your bike would cost to repair, and how much spare money you have available for the insurance policy will all be important factors to consider.
Third Party Motorbike Insurance
In the UK, third party bike insurance is the minimum amount of cover required by law. This type of insurance cover is also the cheapest in price, mainly because the situations in which the insurer will pay out are heavily restricted.
Third party, fire and Theft Motorbike Insurance
Third party, fire and theft bike insurance is the next step up from third party only, and as a result is slightly more expensive. This type of insurance policy will pay out should your motorbike be stolen or if it is damaged or destroyed in a fire.
Fully Comprehensive Motorbike Insurance
Fully comprehensive bike insurance (also known as fully comp), is the highest level cover and in most cases is significantly more expensive that third party, and third party fire and theft policies.
Fully comprehensive insurances offers policy holders a much improved level of coverage and protection from any financial repercussions that may result from any accident or incident.
