If you have a sports bike you love, one of your priorities is sure to be getting the right kind of insurance coverage to protect what is often a significant investment you have made. While there is a legal requirement to have a basic level of insurance for bikes of this kind of class, it is far better to seek out a more comprehensive package that will cover your bike if it is stolen or damaged, rather than only protecting you from expensive legal costs if you are the cause of an injury or damage to someone else’s property while you are riding it.
Photo by Bryan Burke
Levels of Insurance for Motorbikes
There are several different levels of motorbike insurance, ranging from those basic liability style coverages through to complete packages that cover just about every eventuality. In the middle, you get economy packages that can be upgraded to cover different extras, such as liability insurance for carrying a passenger, or insurance against theft. As with any kind of motor insurance, if you have made a substantial investment in your bike or you rely on it as your main mode of transport, then it is a seriously good idea to get full cover. If you have a cheap, older bike that you only use as a toy, you may be able to accept the financial risk of going with less extensive cover so you can save on premiums, but in most cases the best thing to do is seek out a great deal from an insurer with a good understanding of bikes, and opt for the best level you can afford. You can find some examples of attractive motorbike insurance packages here.
Things to Consider When Buying Motorcycle Insurance
When insuring your bike, or even renewing bike insurance, there are some things to consider that can help you keep costs down while still getting a level of insurance that will make sure there are no nasty surprises should you need to make a claim.
For one thing, check that any policy you look at covers any modifications you may have made to your bike. Sometimes insurers view these as extras that are not included, so if expensive accessories or mods get damaged in a minor accident or stolen, the insurer won’t cover them. You can often get supplements to your cover for things like these, but it is important to know exactly what the policies you are quoted on cover.
Another point to consider is whether you can make savings with certain insurers as a member of an owners’ club or by using the same insurer you use for other policies you own (such as for your car).
If you love your sports bike, protecting it and yourself financially is almost as important as the other things you do to protect yourself when riding, so just as you take buying helmets and boots seriously, buying insurance shouldn’t be done without good research and attention to detail!