The motorcycle is, in the majority of cases, the domain of the young. The primary reason for this is the thrill and the excitement that a bike ride can generate in a matter of seconds. One characteristic of the young is that they tend to leap without looking, which means that they would buy motorcycle insurance without even bothering to see if it is beneficial to them or not. This can result in a significant loss of money not only on the policy but also due to the absence of compensation when needed.
In other words, when you purchase a policy that does not provide you the kind of cover that you want then the premiums that you are paying are going to waste. Furthermore, if you have a policy that has multiple exclusions and does not have enough features, then you would not receive compensation in case you do have to get your bike repaired after an accident. Hence, buying insurance needs to be done seriously or you may end up losing money in more ways than you can stomach. The logical way here is to know what a two wheeler insurance policy should provide you or what an average policy provides normally.
1. Accidents: The first type of situation that should be included in the policy is the accident. Accidents for a motorcycle rider are especially dangerous because bikes more susceptible to damage than cars. Hence, if a bike has been in an accident then it is more than certain that the repairs will be considerable, and considerable repairs mean significant costs as well. Hence, most decent policies would include all repair costs.
2. Natural calamities: Nothing can hurt more than some unfortunate incident in which you cannot lay blame on anyone. Natural calamities such as, floods and heavy snow and all other examples of this category can create such situations. However, if you have motorcycle insurance, you will not end up ruing your fate because the policy provider will compensate you for any damage sustained to your bike.
3. Theft: This is a major threat to bike owners unless they always plan to keep their bikes indoors, because bikes are especially susceptible to being stolen. All that is required is one big enough vehicle and a person can just pick up a bike and disappear in less than 10 minutes. Hence, this is one of the things that the majority of policies will contain.
4. Third party: As per the Road Traffic Act of 1988, the government of the UK does not allow any vehicle, including motorbikes on the road if it is not insured. The minimum cover that the government requires is the third-party liability insurance which caters to compensation to a third person in case his property is damaged by the motorbike insurance policy holder in some kind of an accident. Since this is the most basic thing, every motorbike insurance policy that you come across will contain a minimum third-party level of cover.
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