When getting your first bike one of your considerations will be insurance. Here are some points to consider when choosing the right policy for your bike along with other options that you may want to consider for yourself.
There are 3 types of insurance available for the bike, these are:
1) Third Party Only Cover - this covers other parties if you are involved in an accident, however it will not cover the theft, fire or loss of your own vehicle,
2) Third Party Fire & Theft Cover - as above but will now include the theft or fire damage of the bike.
3) Fully Comprehensive Cover - as the name suggests this cover includes the third party, fire theft and also the loss of your own bike.
You will also see options available to take with the main cover, these may include:
Helmet & Leathers cover
Protected No Claims Bonus
Read the options and consider if you require them.
Insuring the bike seems like the obvious insurance to take out, however there are other options that you may want to take to protect yourself in the event of an accident, see below for some examples:
Personal accident insurance - can provide a lump sum in the event of an accident that you could use to help cover bills or medical expenses.
Life insurance - some companies will increase the premium if you state that you ride motorcycles, you should speak to a whole of market broker who can find you the right policy.
Fracture cover - there are plans that will provide a lump sum if you were to suffer a break or fracture of a bone. These could be included as part of a life insurance cover or they could be a separate plan.
Income protection insurance - this type of insurance could provide you with a replacement income in the event of being unable to work, most people are only eligible for statuary sick pay and if you are self employed then you are relying on a claim for ESA. These policies are designed to replace the income until you are back to work.
We would always suggest you take professional independent advice on your insurance needs, for that reason you should speak to a broker who has access to multiple insurers and can find you the best deal for your circumstances.
Curran Connolly & Co - Belfast - Motorcycle Insurance
Precise Protect - Bangor - Life Insurance, Personal Accident Insurance, Income Protection.
Cornmarket Insurance - Belfast - Motorcycle Insurance