BUYERS' GUIDE TO MOTORCYCLE INSURANCE

By David Bradford

Taken from 2006 Superbike Buyers' Guide

You can’t eat it, drink it, ride it or enjoy it in any way. Insurance is just something you have to have, and parting with several hundred quid is rarely so unsatisfying. There is, though, one way to make the experience slightly more rewarding – by saving yourself cash.

‘Your call is important to us’

When someone answers, you’ll need to be prepared. Have your existing policy documents to hand, together with all the relevant details you’ll need to supply. You’ll probably have decided already what kind of cover you want, but it’s a good idea to get a quote for a variety of different options. Fully comprehensive isn’t always as expensive as you’d expect. Make a simple cost-benefit analysis: how much would the repairs cost if you crashed? Third party fire and theft is worth considering if your bike’s not worth a fortune. Third party cover is usually cheaper still, but lands you knee-deep in it if your bike gets stolen or burnt. Comprehensive is the prudent choice if you’re insuring a bike that’s liable to extortionate repair bills (anything fully faired and less than five years old).

What’s included?

If you want to ride your mate’s bike, you need to make sure that your policy provides this entitlement. But remember, if you are using your "Riding other Motorcycles" extension, this only provides Third Party Only cover. Ditto for carrying a pillion. You no longer need a Green Card for riding in Europe and some policies include 90 days free European cover, but check before you travel. If you want to insure more than one bike, it’s usually cheaper to set up a multi-bike policy. You’ll be asked to insure one machine as the main bike and pay an additional fee for each supplementary bike (sometimes up to a total of four).

The truth…

The second golden rule is to be honest. It’s tempting to stretch the truth but it’s not worth the risk because you could end up in an unfortunate situation in the event of a claim. Even so, make the most of every factor that stands in your favour. For once, old age is a good thing and riding experience is rewarded. Your bike’s group dictates how much it’ll cost to insure. The categories are supposedly based on value, power, rarity and age, but they often seem illogical so don’t get caught out. Value is also taken into account, so there’s very little point exaggerating how much your bike is worth. The broker will ask where you live because every postcode is risk-rated according to accident and theft statistics. Storing your bike in a brick garage gets you brownie points, as does a Thatcham-approved alarm and/or immobiliser.

…The whole truth…

Give a realistic estimate of how far you ride each year. Be sure to brag about advanced riding qualifications because they’ll go down well too. It’s also important to ‘fess up about modifications to your bike. Contrary to popular belief, most mods don’t increase the cost of your premium, but undisclosed trick bits could be discovered and used against you if a claim is made.

‘…And a leg, please’

However much you charm the operative, you’ll still have to commit to a compulsory excess. This is the amount you’ll have to pay towards the total cost of any claim you make for damage or theft. It’s sometimes possible to pay an additional voluntary excess in exchange for a reduced premium.

All the trimmings?

Finally you may be offered ‘extras’. These are the additional benefits offered by brokers as add-on perks. Some of these are worth having. The most common ones are breakdown, legal expenses and personal accident cover. Check the details before you get too excited.

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