Bike Insurance
While bike insurance normally relates to motorbike cover, it is also common to see everyday pedal bikes insured against theft. However, we will concentrate on the very competitive area of motorbike insurance which opens up a whole array of options and cover available. It is important to make the distinction between a motorbike which is used for leisure and one which may be used for business.
These are two very different areas of the market and we will cover them briefly below:
Personal Use
As we have seen cars increase in popularity over the years, there has also been a big jump in the number of motorbikes on the road. These bikers often face more dangers than car drivers, because of their size and the fact that they can often go unnoticed by car owners. While car drivers are continually being educated about looking out for motorbikes, there are still many motorbike riders killed on the roads each year.
Like car insurance, motorbike insurance is mandatory and will provide cover against a number of possibilities, including accident, repairs and total replacement cover. All of these are vital for a motorbike rider to be able to use the roads with safety and peace of mind. As the value of motorbikes and the cost of repairs continue to move higher, a valid insurance policy can make a real difference as and when required.
Business Use
As well as all of the elements of personal use, a motorbike used for business will need additional insurance to cover possible employee compensation claims in the event of an accident, or a claim by a third party in the event of a fatal accident. There is also the requirement to ensure that any goods, money, etc which are being ferried around using the motorbike are covered for loss, damage and theft. Again, a lack of sufficient and valid cover can leave any business wide open to large compensation payments.
Conclusion
As with any other type of insurance, is it vital that you tell the insurer exactly what the vehicle is being used for. Failure to disclose the full facts can lead to the withdrawal or cancellation of an existing policy, often at great expense to the customer!
