Third-party, fire and theft motorbike insurance

Key takeaways

• Third-party, fire and theft insurance covers damage to third parties, their vehicles, or property, and adds protection for your bike in cases of fire or theft

• It does not cover damage if you’re at fault, flood damage, mechanical failures, or loss of personal belongings

• You can add European cover, breakdown cover, additional driver coverage, pillion cover, personal accident cover, legal cover, lost keys, wrong fuel protection, and insurance for accessories and modifications at an additional cost

Choosing the right motorbike insurance can be as crucial as selecting the perfect bike. It's not just about fulfilling legal requirements; it's about ensuring peace of mind while you're out on the open road.

As with all motor insurance, you can choose from three levels of cover for your motorcycle: third-party only, third-party, fire and theft, and fully comprehensive insurance.

In the UK, third-party cover is the minimum legal requirement due to continuous insurance enforcement rules, ensuring that all vehicles on the road have at least basic coverage.

Should I get third-party, fire, and theft motorcycle insurance?

If you're seeking a balance between cost and coverage, third-party, fire, and theft motorcycle insurance might be the sweet spot.

It's a middle-ground option that offers more coverage than the bare minimum third-party only policy but comes at a lower cost than the fully comprehensive insurance. It's an option worth considering if you want added protection without breaking the bank.

What does third-party, Fire, and theft motorcycle insurance cover?

Third-party, fire, and theft insurance extends beyond the basic third-party only policy. Like its more basic counterpart, it covers damage to third parties, their vehicles, or property. But where it stands out is in the additional protection it offers for your own motorbike in cases of fire or theft.

Motorcycle fire

Under this policy, you're covered for damage to your motorcycle caused by both accidental fires and arson. This means that if your bike is damaged due to a fire, regardless of whether it's a result of an electrical fault or a malicious act, you're protected.

Vehicle theft

Theft is a concern for all motorbike owners, and this insurance covers you if your motorbike is stolen or damaged during an attempted theft. It's a layer of security that gives you peace of mind, especially if you live in an area with a higher risk of theft.

What does third-party, fire, and theft insurance not cover?

While third-party, fire, and theft insurance offers broader protection than third-party only, it doesn't cover everything. Common exclusions may include:

• Damage repair costs if you're at fault in an accident

• Flood damage to your motorcycle

• Mechanical and electrical failures

• Loss of personal belongings from your bike

Additionally, insurers may refuse a claim if they determine that the policyholder was negligent, such as failing to secure the vehicle properly.

What extras can I add to third-party, fire and theft motorcycle Insurance?

To tailor your policy to your specific needs, you can add various extras to your third-party, fire, and theft motorcycle insurance:

• European cover for riding abroad

• Breakdown cover for roadside assistance

• Additional driver coverage

• Pillion cover for carrying passengers

• Personal accident cover for injuries

• Legal cover insures you for any legal costs related to a road accident that wasn’t your fault.

• Coverage for lost keys

• Protection against filling up with the wrong fuel

• Insurance for motorcycle accessories and modifications

How much does third-party, fire, and theft motorbike insurance Cost?

The cost of third-party, fire, and theft insurance typically falls between that of third-party only and fully comprehensive policies. However, premiums can vary significantly between insurers, so it's essential to shop around for the best deal.

Why can third-party, fire, and theft cover be more expensive than fully comprehensive?

It might seem counterintuitive, but third-party policies, including third-party, fire, and theft, can sometimes be more expensive than fully comprehensive insurance.

This is largely due to the fact that these policies have historically been chosen by younger or less experienced drivers, who are statistically more likely to make a claim.

As a result, insurers have adjusted their pricing models, and fully comprehensive policies have often become the more economical option on average.

What else affects the cost of third-party, fire, and theft cover?

Several factors can influence the cost of your insurance premium, including:

• Your age: Younger riders are more likely to make a claim on auto insurance policies as they are likely to be involved in more road accidents. Insurers therefore charge drivers under 25 extra for cover.

• The type of motorcycle you ride: high-performance bikes generally costing more to insure

• Your driving history: including any past convictions or claims

• Security measures and where you store your bike when it's not in use

• Your geographical location, with higher premiums in areas with high crime rates

• Your excess fee: If you volunteer higher excess payments, it tells insurers you’ll only claim when it’s worth the extra fee, and they’ll lower your premiums in turn.

• The method of payment: spreading payments over time often incurring additional costs

• Any additional policy features you choose to include

Can I get a no-claims discount on my third-party, fire, and theft insurance?

Yes, a no-claims discount is often available for riders who have a history of no claims. This discount can significantly reduce the cost of your premiums over time, rewarding you for safe riding and the absence of insurance claims.

Compare third-party, fire, and theft motorcycle insurance

When it comes to finding the right insurance policy, comparison is key. Utilise tools like MoneySuperMarket to compare third-party, fire, and theft motorcycle insurance policies.

You can sort options based on cost, coverage, and excess, ensuring you find a policy that fits your needs and budget. Remember, the cheapest option isn't always the best. Consider the coverage details carefully before making your decision.

When you're ready to hit the road, knowing you've chosen the right insurance policy can make all the difference. Take the time to assess your needs, compare your options, and ride with confidence, secure in the knowledge that you're well-protected.