How To Choose A Motor Insurance That Best Works For You

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Submitted by: Chris Carter

It is crucial for anyone who owns a motorbike to take an insurance cover for the same. This will not only work for him but for any other person who uses the bike as well. There are several insurance policies, each packaged differently in order to suit the different needs people have. They include comprehensive cover, veteran and classic cover and, finally, the third party cover.

The comprehensive cover, as the name suggests, is an all round type of cover for your motor bike. This not only includes the motorcycle and you, the rider, but any other vehicle or property you might run into and cause damage to.

The veteran and classic cover is used to insure old motor bikes (those over 16 years). However, the only types of bikes covered herein are those that are rarely used and, when used, are not used for commercial or related purposes but only for leisure.

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The third party cover, as the name suggests, insures any other relevant party except you and your bike. These parties include a third party vehicle, motorbike, property which might suffer damage or person who might suffer injury inflicted by your bike. This insurance cover is compulsory irrespective of whether you have any other policy covering your bike, you and any other party.

Because of this, most people go for the comprehensive cover, which is all inclusive. In this cover, the insurance company commits itself to meet the costs of repairing the bike or even buying you another one all together if damaged in an accident caused by you. However, replacing the bike is only done at the value you insured it for or, if the policy is open, at the current market price of the bike. This is the reason why you should not over insure your bike or under insure it. It also insures your bike in the event of fire and insurance of valuable parts of the motor bike. Under this cover, those who may get hurt from an accident you cause. Any fee required to meet the legal proceedings in such an event are catered for by the company under this cover. Other occurrences your bike is insured from under the comprehensive cover include lightening, theft and towing fees.

The insurance company needs to give you detailed explanation on what to do to get compensation in the event of any of the above occurrences. This is because many people fail to benefit from the cover due to ignorance. For example, you should not move the bike or make any alterations or repairs whatsoever when an accident occurs before either a policeman or your insurance makes an assessment of the situation. Let the insurance company also advise you and inform you of any changes that occur in the rates of insurance premiums.

Last but not least, do not pay for an irrelevant insurance over, as this will only be a waste of money. A commercial bike cannot be insured in the same way as that bike which you ride only once every month.

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