Third party, fire and theft bike insurance is the next level up from the basic cover third-party only.
Along with offering the same protection as third party only, third party fire and theft will also pay out should your motorbike be stolen, or damaged or destroyed in a fire.
By UK law, all motorists must have some form of motor insurance, with third party only being the minimum level of cover required by law. Third party, fire and cover is just the same as this basic cover but also includes protection for your bike if it is stolen or damaged as a result of fire.
Third party insurance also means that you are covered should you be involved in an accident that was your fault. You will be insured for any damage you cause to another road user’s vehicle, their property, or should they themselves be injured and required to pay for medical treatment.
Third party cover is often chosen by motorists who can not afford a fully comprehensive policy. But if your bike is worth more than the excess that you would have to pay then in some cases it makes sense to opt for third party, fire and theft cover instead.
Statistically speaking, the average motorbike in the UK is significantly more likely to be stolen than the average car, with scooters and other low powered bikes being amongst the most desirable bikes for thief’s.
If you leave your bike on the street at night, or happen to live in an area where bike theft is common, then opting for a third party, fire and theft insurance policy could offer you added piece of mind for your bike.
However, if you do happen to live in an area that is high in vehicle theft, then this will in itself be reflected in the insurance premiums that you’ll pay, which in some cases could push the level of cover you want just out of reach.
Just like the third party only bike insurance, if your motorbike isn’t worth a great deal of money and therefore wouldn’t cost too much to replace, then paying for the extra fire and theft cover might not be beneficial to you.
It is worth keeping in mind that your insurer will expect you to pay the first part of any claim you make should your bike be stolen (known as your excess). If this excess amount is close to the current value of your motorbike, then there is less reason for you to take out the extra cover.
But before you decide on third party, fire and theft bike cover, it is important that you are aware of any extra protection that you could be missing out on.
With a third party, fire and theft policy, you won’t be covered by your insurer for any damage to your bike if you are involved in an accident this is your fault. Although you will be able to make a claim against the other parties involved if they were at vault.
Likewise you won’t be able to claim for any subsequent medical treatment as a result of an accident, unless ofcourse it was the fault of someone else.
