|
Home / Finance / Insurance
Motorbikes – take cover
By:Michael Challiner
As summer draws to a close, around 10,000 UK bikers start to think about laying up their motor bikes for the winter months. From the end of October through until Easter, the thought of motor biking is not so appealing and there is little point in taxing and insuring the bike. Bikes are winterised and stored away at the back of the garage awaiting the better weather. Sadly, thieves are aware of this and so some 600 bikes are stolen every month.
Obviously if you have totally cancelled your policy you will be unable to claim for this theft. You can, however, reduce the cover to a minimum for fire and theft and this is worth considering.
If you’re more used to insuring cars than motor bikes, you’ll find some of the features of bike insurance very odd. For instance, it’s not possible to accumulate bonuses over time, as with a car. Occasionally you may find an insurer who will give you some discount if you don’t claim for a certain period with the same insurer, but this is not the norm.
There are various policies. Specified Bike Policy, Specified Rider Policy, Comprehensive and Third Party Insurance. With a specified bike policy you are covering the bike and not the rider. This means you could insure a number of riders on the same bike.
A specified rider policy covers the rider, but not the bike. This means the rider is covered on any motor bike up to the size specified on the policy.
Comprehensive and third party insurance are more familiar terms. Comprehensive is the most expensive. Apart from paying for repairs to the bike in the case of accidental damage, it may offer some extras such as breakdown cover. In the event of a claim, you will only pay the excess as stated on the policy. With third party you simply buy the minimum legal insurance. This means you are covered for any property you may damage or people you might injure. You would not be reimbursed for your bike or anything else and an excess would still be payable. Third party is the cheapest form of insurance.
Younger riders will be charged higher premiums for their policies due to their inexperience and the increased risk of motor cycling. There is a frighteningly high accident rate and statistics tell us they are much more likely to be involved in an accident than more mature riders. Damage caused to themselves is often costly and lifelong.
The more hours spent on the road, the higher the risk and riders using their bikes to travel from one location to another as far as their work is involved will be likely to be charged higher premiums. Claims made in recent years for driving-related accidents will have an adverse effect on your premium too.
Other factors that will influence the premium will be the power and make of the bike. There are some very expensive bikes around and obviously this will mean a higher premium will be charged. If you have any penalties for speeding or dangerous driving your premium will rise and if you were to be disqualified for a length of time, insurance would be extremely expensive when your licence was re-instated.
To try and get the cost of premiums down, consider security devices such as immobilisers, alarms and steering locks. It may also be possible to get discounts for any training courses you have completed.
Be completely honest with your insurance company. Failure to disclose something which the company later discovers can invalidate your insurance. Not only would you not receive payment for any claim, but you could be prosecuted for driving without insurance.
An internet broker will be able to offer you plenty of advice when it comes to choosing an insurer. They’ll find a choice of policies to suit your circumstances and their experience will be invaluable. There are internet-only deals and discounts which they’ll be able to offer too.
Keep insured and safe.
Digg
del.icio.us
Blink
Stumble
Spurl
Reddit
Netscape
Furl
Article keywords: insurance, motorbike, car
Article Source: http://www.articles2k.com
Car Insurance Smasher are a specialist website that offers uk residents car insurance quotes online.
|
|
| Top Insurance Articles |
- 1). Growing Old By : Joseph Kenny
There are a couple of things in life that we know, at some stage, we will be worried about. Growing old certainly seems to be one of them. More and more, our culture is becoming obsessed by the cult of youth. Not only are film stars and musicians young and beautiful, but increasingly, politicians and newsreaders are getting younger also. Add to this.
|
- 2). Health Care Eligibility For Unauthorized Migrants - Moral & Practical Implications By : Erin Shaughnessy
Various organizations and government officials have cited estimates for the number of illegal immigrants at between eight and twenty million. With rising health care costs as a major issue for most Americans, this article considers the moral and practical issues of providing medical care for uninsured immigrants.
According to a research report entitled “The Size and Characteristics of the Unauthorized Migrant Population in the U.
|
- 3). Determining How Much Life Insurance You Need By : Stephen L. Nelson, CPA
When considering life insurance, you’re planning and preparing for an event most of us would rather not think about. But life insurance represents a critical step in managing your personal finances and ensuring your family’s well-being.
The Two Approaches to Life Insurance
You can use one of two approaches to estimate how much life insurance you should buy: the needs approach or the replacement-income approach.
|
- 4). Can Car Insurance Be Affected By Your Bad Credit History? By : Joseph Kenny
If you have bad credit you can be denied car insurance! The protections afforded to the consumer since the Depression of 1929 no longer exist. The Financial Laws passed through Congress in 1992 allowed banks, insurance companies, investment firms to handle banking, insurance and investment operations. Laws passed after 1929 had prevented banks from.
|
- 5). How to Get Cheap Auto Insurance on the Internet By : Heather Colman
If you have a connection to the Internet and a computer you can easily find cheap auto insurance. With more and more businesses turning to the Internet to service their customers and increase sales, it's no wonder you see an insurance man on every virtual corner.
Not only are most of the major companies online today they now provide insurance quotes and the ability to buy your policy right from their websites.
|
- 6). Gap Insurance: A Financial Safety Belt By : Peter Garant
Why is gap insurance considered as a financial safety belt? Simply put, it keeps you from being financially ruined when disaster hits your car. For example you are in this situation, you bought a late-model car three months ago using a car loan with a regular car insurance. The car costs $30,000 and you have already made three payments of $900 each month.
|
- 7). Eight Rules for Saving Money When You Buy Insurance By : Stephen L. Nelson, CPA
By following the eight rules explained here, you can save money, and just as important, you can save yourself from making serious mistakes when you shop for and acquire insurance policies.
Rule 1: Buy Insurance Only for Financial Risks You Can’t Afford to Bear on Your Own
The purpose of insurance is to cover catastrophes that would devastate you or your family.
|
- 8). Critical Illness Insurance The Non-Disclosure Problem By : Michael Challiner
If you're in the unfortunate position of having to make a claim on your critical illness insurance policy, the last thing you want is insensitive hassle or apparent non co-operation from your insurer. But according to numerous newspaper articles, that's precisely what's happening. The core problem is that before they'll pay out, the insurer will always want to make exhaustive enquiries about your past health record.
|
- 9). Pssst - Want To Know A Secret That Banks & Car Insurance Companies Don't Share With You By : Tom OLeary
Every single driver in the U.S. is required to have Car Insurance. And most of drive around confident that we have adequate coverage to protect us should we ever be involved in an accident.
Yet, almost 97% of all drivers are not adequately protected...and don't even know it. Here's what I mean.
Let's say you're involved in an accident and it's serious enough that the car is considered a "total loss" by your Insurance Company.
|
- 10). Life Insurance & Why It’s Important For Your Family By : Daphne Succes
It’s sad to think about, but life insurance is something that everyone needs to consider. In the event of an unfortunate loss, an individual often wants to have the peace of mind in knowing that his/her family will be financially secure.
Life insurance can be obtained in a number of ways, including from a national insurance provider, various credit cards and/or certain employers.
|
| New Insurance Articles |
|
|
|
|
|
|
|
|
|
|
- 6). When To Consider Selling Your Life Insurance Policy? By : Paul Sherman
A Life Insurance Policy is a personal property, like a house, car, antiques, old painting or stocks and bonds. You can sell your life insurance policy like you sell your other personal property items. Life insurance may now be viewed as a traditional asset that can be purchased or sold. Sale of Life insurance policy is called as Life insurance settlement, Life settlement or Senior settlement.
|
- 7). Life Insurance, A Great Investment Opportunity By : Mika Hamilton
Insurance is often the safe and most risk free approach to investment. Most people think they are sufficiently insured when they are not. Hardworking people spend a lifetime earning what they have. Our personal wealth is a coupling of family and our income early potential.
|
- 8). All About Home Insurance Leads By : Oliver Turner
After loads of man-made and natural calamities in USA the Home Insurance market has come much into prominence. And at present the competition is at its peak.
Homeowners Insurance is a guarantee, which pays the cost of your house if it gets damaged in some natural or manmade disasters like fire, floods, storms etc.
To get a good home insurance quote we often turn to agents.
|
- 9). Health insurance plans By : Janani
Health Insurance:
Health insurance, which is coverage for individuals to protect them against medical costs and give them a surity to a secured life in this unsecured world with day to day accidents, enormous infections and diseases which may be highly fatal such as Tuberculosis and other viral infections, Genetic disorders that requires relatively high costs for treatment and diagnosis.
|
- 10). Life Insurance Online By : Robert Lawrence
There are many types of life insurance policies. Before you venture out for one, learn about them and see which one is applicable to your needs best. The following are the most common ones:
1. Term life insurance: This type of insurance is the most basic of all. Its one and only function is to cover your life with an amount of cash which on even of your death will be given to your nominee.
|
|
|
