How To Successfully Insure Your Motorbike

Has your dream been to cruise around town on a motorbike with the wind blowing through your hair? If yes, here’s how to insure your bike…

Although petrol might have dropped in price for the meantime, traffic congestion is getting worse. There really is nothing more frustrating than sitting in traffic for hours on end before reaching a destination. South Africa has some of the worst traffic jams in the world.

This traffic can all be avoided however, on two wheels. Yes, motorbikes are small, nippy and can get you to your destination faster than a car can.

If you have considered purchasing a motorbike or currently own a bike, have you ever thought about motorbike insurance?

Don’t worry because we have all the answers on insuring your motorbike.

Types Of Motorbike Insurance

Before you purchase a motorbike you should determine what you will be using the bike for. Whether it be a leisurely ride on the weekend, your full time mode of transport or just a quick ride around town.

Once you have determined how you plan to use the motorbike, you can then choose an insurance plan best suited to your needs.

There are three different insurance plans which are suitable for motorbike insurance. It is always, however, recommended that if you are considering taking out an insurance plan, that you take out the Comprehensive plan.

Here is a breakdown of the different plans available:

Comprehensive Motorbike Insurance

This policy is the most secure one as it covers almost every thing that could possibly go wrong with your two-wheeler. Although this might be the case, it is always recommended that you make sure you know what isn’t covered. The following areas are, in a general Comprehensive policy, covered:

  • Accidental damage to your motorbike;
  • Vandalism;
  • Medical expenses;
  • Damage to accessories(if motorbike is stolen or damaged at the same time);
  • Fire damage;
  • Damage caused by acts of nature;
  • Theft.

Third Party Only (TPO)

This is considered the minimum level of cover that an insurance company can provide. This policy doesn’t include cover to your motorbike or your injuries in the event of an accident. It also doesn’t cover you in the event that your bike is stolen or if there is a fire.

Also read: Things you didn’t know about insurance 

The following features are covered with TPO insurance:

  • Liability of damage to third party;
  • Damage to property.

Third Party And Theft Insurance (TPTI)

This insurance policy is slightly better than the TPO plan. It will cover you if claims are made against you as a result of an accident. This policy will also offer cover for the following things:

  • Fire damage;
  • Theft;
  • Any damage caused during theft or attempted theft.

Remember that this plan doesn’t protect you from damage to your bike in an accident or medical injuries.

What Am I Not Covered For?

Once again, it really all depends on your policy. If you decide to choose the Comprehensive plan, there are a few situations which are excluded from cover.

According to Budget Insurance’s Comprehensive Motorbike Insurance plan, the policy will not cover the driver in the event of the following instances:

  • The driver is driving under the influence of alcohol or drugs;
  • The driver does not possess a motorbike licence;
  • The driver doesn’t possess a valid motorbike licence.

Most insurance companies follow a standard policy with exclusions. If you intend to ride the motorbike to race, this will not be covered either.

If you are caught racing and you don’t have the correct cover and are in an accident, your premium will increase.

The above content was supplied by CompareGuru.

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