Friday, 26 October 2012 12:07 PM
If you've got your heart set on buying a new motorcycle, you might be thinking of where you can ride it and all the great equipment you can buy yourself when using it. However, don't forget to pay attention to important details, such taking out motorcycle insurance.
To find out how to get the best policy for you, read this guide.
Write down the specifications
Before you take out insurance, it is important that you are aware of all the specifications of your motorbike. The quote you receive from insurance providers will depend on the exact details of your motorcycle, so it is important to make sure you can answer the questions correctly.
Here are just some things you will need to know:
1. What type of vehicle it is, e.g. a motorcycle or scooter
2. The year it was made
3. Its engine size
4. The make of the bike
If you are planning to get a used motorbike, there are other questions that you may have to answer to get an accurate quote. These include how old the vehicle is and how many miles it has done. These will give the insurance provider an idea of how long the motorcycle is expected to last and what its value is should you need to replace it in the future if it is written off.
Other details you'll need to think about are where you are planning to keep your motorbike – if you store it inside a garage, you could find your premium costs decline when given a quote. They may also ask how many years you've had your licence and whether you're a new rider – if so, there are different insurance options available for you.
Where to look?
Your next question when trying to get yourself motorcycle insurance is where are you meant to look for it? These days there are lots of companies you can take out a policy with and a lot of the big-name providers offer specific packages for motorbike riders.
Therefore, you can enquire at the company that provides your car insurance, or your home, pet, contents or life cover.
Alternatively, lots of motorcycle insurance firms can be found on price comparison sites, and these are great places to get deals.
All you have to do is simply input your details, and the comparison website will come up with different offers that will be suitable for you. It is a good idea to research these quotes properly to ensure that they are genuine and will cover you for everything you need. Nevertheless, this is an excellent place to show you the difference in price between certain providers.
What you want included in the insurance policy
The price of the policies will vary significantly depending on what you want to be covered for. Just like with cars, you can choose whether to get fully comprehensive, third party fire and theft or third party insurance.
With fully comprehensive packages, you'll be insured for damage to the bike and yourself regardless of who the liability of the accident lies with. This is the highest level of protection and may be the ideal option if you want to get the best cover.
Alternatively, the two latter ones cover you for the damage caused to the victim or their motorcycle involved in an accident that was your responsibility. However, with third party alone, you will not be protected should something happen to your vehicle.
Third party fire and theft offers a slightly higher level of protection, insuring you if your motorbike is stolen or damaged in a fire.