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> Motor Bike Insurance
WHAT IS MOTORBIKE AND MOTORCYCLE
INSURANCE?
Motorcycle Insurance is compulsory under
the Road Traffic Act of 1988 and all riders will need
to produce a certificate of insurance in order to obtain
road tax.
The following types of cover are available
for your bike:
Comprehensive motorcycle cover
This includes the loss of or damage to your motorcycle
caused by accidental or malicious damage and also incldes
the third party and fire and theft cover.
Third Party Fire and Theft Cover
This covers third party liability required by the road
traffic act plus covers your motorcycle if stolen or damaged
by fire, subject policy terms.
Third Party Cover only
This is basic insurance cover and covers your liability
for death or bodily injury to a third party including
other pillion passengers and your liability for damage
to third party property.
Policy Schedule
Describes the details of your motorbike insurance policy
cover. What you are covered for and what you are not.
Any changes in the terms of the policy are called endorsements
which will be shown in the schedule. You should always
read the wording carefully and contact the motorbike insurer
if you believe the cover is not correct
Insurance Premium Tax known as I.P.T.
Compulsory tax levied by the government on all insurance
premiums. Currently around 5% of the premium
Policy Excess
I f you are involved in an accident with your motorbike
you will likely have to pay some part of the claim. The
amount of excess for which you are liable for is outlined
in your motorbike policy schedule. There are basically
two types of excess:
Compulsory Excess - This is a nominal
excess that has been applied by your motorbike insurer
and will varies with the terms of cover provided. Compulsory
excess will also apply to fire or theft claims. The amount
is usually in the region of £50 but you should check
each individual policy.
Voluntary Excess - This
is a voluntary amount that you agree with the motorbike
insurer to reduce your premiums. In the event of a claim
this will be added to the compulsory excess as the amount
you will have to pay towards the claim.
Motorbike and Motorcycle Usage.
Social, Domestic and Pleasure Use Including Commuting
This includes commuting to and from one place of work.
'Excluding commuting' means your motorcycle can be used
for social, domestic and pleasure purposes only.
Business Use
This is when the policyholder uses their motorcycle for
their own business to travel to more than one place of
work and between places of work. An example of this would
be if you use your bike for courier work
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