Finding the right insurance for your two-wheeler could be time consuming, as you may already know. If you drive a Ducati to commute regularly or a tidy Triumph for your weekend trips, it is imperative to have the appropriate insurance cover for your two wheeler all year round, irrespective of the fact that you might use it only during summer.
The Continuous Insurance Enforcement Regulations (CIE) maintain that it is an offence to own a bike without appropriate bike insurance cover even if it is left unused at your garage, unless you have taken out a Statutory Off Road Notice (SORN) by notifying the DVLA. This implies that you do not have to go on a ride without bike insurance to be fined. And if you are caught riding a bike without an appropriate insurance cover, a penalty of £100 has to be paid on the spot, your vehicle could be seized and towed away and you could be faced with a court prosecution where the maximum penalty is £1000.
Given that the prices for Insurance are often on the rise, it becomes all the more necessary for customers to shop your prices around to get the optimum policy available.
Types of bike insurance
Not everyone requires the same type of bike insurance owing to the different kinds of vehicle. The following classifications will help understand the various types of insurance available to suit the type of vehicle you own. However, you must consider that each insurer rates its risks and views each of these types of bikes differently. For example, a modified bike insurance provider may happily provide lower premiums than a standard bike specialist for your situation.
Classic bike insurance
The classic bike premium is often lower compared to the cost of other conventional bike policies. They are seen as less likely to be stolen as they are harder to sell on by thieves. Numerous insurance companies also believe that the owners of classic vehicles such as Harley Davidson’s or a classic Triumph will be more careful with these vehicles and therefore, are less likely to make a claim.
Bike insurance for women
Traditionally it was always believed that owing to the lower number of women who drove two wheelers, they were less likely to make a claim and therefore, insurance premiums for them used to be less expensive. However, the rules have changed now and bike insurers are no longer considering gender while calculating premium for their clients meaning men and women are on equal grounds when buying their insurances.
Bike insurance for convicted and young riders
Since convicted riders are statistically considered to make more claims, the premium cost may seem your premiums are higher. Similarly, it could be higher for young riders who are considered to be inexperienced and rash drivers.
Modified bike insurance
Modifications in a bike which enhance its performance and looks often accrue a higher premium. However, if the modifications rendered have improved the security levels of the bike, the premium could be decreased considerably. It is important to disclose any modifications to your bike to your insurers. If you fail to tell them, and your bike is stolen it could invalidate any claim you make on your policy.
Moped and Scooter insurance
Scooters and mopeds are far more fuel efficient, have simpler manoeuvring systems and accrue less road tax as compared to bikes with larger engines. Insurance premiums for these vehicles could cost you less, provided your vehicle meets certain criteria i.e. the engine should not exceed 50cc and the weight of the framework of the vehicle should not exceed 250kgs however, this varies per insurer.
Quad bike insurance
If you own a quad bike i.e. a four-wheeler bike, you have to look specifically for an insurance policy that caters to this type of a vehicle.