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84 months ago

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Do You Understand Your Bike Insurance Options

Mount Peel, Canterbury, New Zealand

Whether your bikeis an older model or new top of the rageedition, it is an investment for you.If you were to lose your bike through a collision, damage or theft, it is unlikely that you would have enough cash on hand to replace it. Fully comprehensive bike insurancecan place a heavy burden on your pocket, so you may feel tempted to test fate and go with 3rd party only insurance - risky choice!

There are two choices when it comes to insuring your bike, fully comprehensive insurance and 3rd party only insurance.

Do You Understand Your Bike Insurance Options

Do You Understand Your Bike Insurance Options

Fully Comprehensive Insurance Explained

Fully comprehensive insurance is pretty much as the label indicates, it covers you for everything. This means in the event of a collision the repairs to your bike are covered as well as the repairs to the other bike.

If you have an old bike only worth a couple of hundred then you might not need fully comprehensive, but if not then it’s a sensible choice.

3rd Party Insurance Explained

3rd party insurance is the legal minimum that you need to drive. In the event of a collision your insurer will pay for damage to the other bike but not your own. You need to expense any repairs yourself, and you also still need to pay the excess for raising a claim.

Getting quotes

Never accept the first quote that you get, and always opt for comparisons. If you do not know the ins-and-outs of the bike insurance industry and don’t have the time to shop around for quotes, the best option is to enlist the services of a bikeinsurance broker such as OneSure.

Fast and simple, you can either call in or complete an online quote-form providing all your bike details. Dealing with a bike insurance broker comes with many benefits, including that their sales specialist are well versed in the best deals and can consult with you to tailor your policy and advise you where you can cut costs.

You can do this yourself by getting more than one quote, enabling you to select the most cost effective insurance policy for your specific requirements.Most people however, are not familiar with different insurance options, so enlisting the services of a broker is your best option and here’s why:

Insurance Brokers are Independent

Because brokers are independent, they can easily source a number of quotes for you, offering you various cover permutations within the monthly premium range that you can afford. Together you can discuss what cover will give you best value for your money.

Insurance Brokers have Established Industry Networks

Independent brokers have an established network of industry contacts and have access to deals and discounts that would not be offered to the public. They can broker deals to include or exclude certain cover, free add-ons, etc.which would not be available to you through direct insurance channels. Most reputable brokers are also part of the BIBA so look out for this when dealing with companies.

Insurance Brokers can Provide you with Qualified Advice

Insurance brokers have to be both authorised and then regulated closely by the FCAso that only quality advice on bike insurance is given. They can also define all the fine-print that applies to individual policies, ensuring that you fully understand what your situation would be in reality if you need to put in a claim.

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