How much is motorcycle insurance?

Insurance is important for any road vehicle. It protects you from having to pay out after an accident, and can assist you if your motorbike is written off or stolen. How much is motorcycle insurance? The cost of motorcycle insurance can be a massive factor when people are choosing what sort of vehicle to buy, and so it’s useful to know roughly how it works. You can get cheap motorcycle insurance by applying online. Below is some more detailed information on insurance.

What affects my premium?

There are more factors than can be listed here (insurers regularly rate on over 50 different factors), but the most notable ones are:

  • If you’re 16 or 17, you can expect your premiums to be higher than those over the age of 25. However, once you leave this young driver bracket, you’ll see a sharp drop in your premium.
  • Power of your motorcycle. A 125cc motorcycle will cost less to insure than a regular motorcycle, but will still cost more than either a 50cc or 125cc scooter.
  • Where you live. It’s unlikely there’s much you can do about this, but living in a city is considered a bigger risk than a suburban area. You can combat this to an extent by using security features and off road parking.
  • How far you ride each year. It seems unusual to limit your riding after you’ve just bought a motorcycle, but this can have a big impact on your premium. The more you’re on the road, the more likely you are to have a crash. That’s the simple, irrefutable logic of insurance providers.
  • Use of motorbike. If you only use your bike for social journeys, this will cost less than if you use it for riding to work, or for business purposes. But don’t choose a lower level of cover just for cheaper insurance. If your provider finds out they can void your entire policy.

What types of cover are available?

Motorcycle insurance works the same as car insurance, with different levels of cover offering different pros and cons. The three main types of cover are:

  • Third Party only. This doesn’t allow you to claim for any damage to your motorcycle, regardless of who’s at fault.
  • Third Party, Fire and Theft. Again, this doesn’t allow you to claim for accident damage to your motorbike, but it does let you claim if it’s stolen or burnt. This can be a great help, because most vehicles are automatically written off when this happens.
  • Fully Comprehensive. The only cover that allows you to claim for damage to your bike in at-fault accidents. It also provides you with all the benefits of the previous levels, but is the most expensive.

Can you pay motorcycle insurance monthly? Yes you can. In regards to cost there’s no clear answer to how much insurance will cost. This is mainly due to the myriad factors that affect it. However, you can expect to pay anywhere between £200 and £1000 for a 125cc motorcycle. The more time you spend gaining experience, the lower this will drop every year.