Yes, that’s right, you should cancel your insurance for your motorbike. Why? Well, too many bikers insure their bikes for only six months of the year and end up paying a premium for it. In normal circumstances, insurers will give a discount if you pay the insurance outright at the start of the policy, normally you get two months free. What happens if you do that for only half a year, do you get a month free? No, you don’t. And it means that you better have an Alcatraz-type lock-up to keep it safe while it’s not insured.
What happens if you lock your bike away for the winter and it gets stolen? Is your home insurance going to pay out – not likely. Will you be upset and annoyed that your pride and joy is now in the hands of a criminal – definitely. Not only does motorcycle insurance protect your investment but by insuring it for the whole year, you can save money and it will only cost the equivalent of ten months’ insurance. But wait, that’s still four months more than if I only had half a year of insurance. True, but what happens if your bike gets damaged, needs repairs or the legal bills if you cause an accident? Court cases can take a long time to sort out and by having substantial insurance cover is important.
Unfortunately, motorbikes are stolen, broken down for parts and lost within the black market in a matter of hours, you just have to skim through the Department for Transport on Roads too see the dangers of travelling on the roads. It is a terrible time but one that can be alleviated (slightly) with motorbike insurance. One way to keep the costs down is to use a 0% interest credit card to pay off the year of insurance. That way, you can still chip away at the bill monthly but if you claim the insurance company won’t expect to still be paid for the full-term. And, you would have already saved yourself two months of paying.
If you’ve got a Ducati, Aprillia, BMW, MV or another expensive motorbike, the cost of repairs can be devastating. It’s mostly due to the fact they have specialist parts and you can’t just get blueprint parts, it has to be ordered from the factory and most of those listed are in Italy. This can take time, money and the exchange rate to Euros isn’t exactly favourable. If you drop the bike and need new fairings or have a collision, it’s not just your pride that’s dented, it’s your wallet too. By having the best insurance you can afford these costs won’t rear their ugly heads. As always, bike repair costs always seem to come around when you least expect them and can afford them, like Christmas time or just as you’re about to book a summer holiday.
When you own a motorbike, you need to have the right clothing, a good helmet and even better insurance. Although bikes can be cheaper to have than a car, there are still some costs that are mandatory and by finding the best-priced insurance is a good start.