As with most things, you’ll get what you pay for and third party only is the most basic level of insurance, as well as the minimum legal requirement for having your bike out on the road.
Opting for third party motorcycle insurance will cover the following:
- The costs of any damage caused to the property of a third party if you are involved in an accident
- The cost of any resulting medical bills of the third party that are necessary because of the accident
Other bike insurance options
Third party motorbike insurance, while less expensive than others, is very limited in what it insures you for. You will not be covered for damage to your bike or any of your medical costs resulting from an accident.
So if you are looking for something a bit more comprehensive, then it would be worth considering going for a third party fire and theft policy. This, along with covering any damages/medical bills of a third party, would offer protection for your bike if it were to be damaged or destroyed in a fire and would also protect you against the risk of it being stolen.
Fully comprehensive motorbike insurance is the most expensive type of insurance, but the one that will offer you the most protection. Like third party fire and theft, it will offer protection for damage to a third party’s possessions and medical bills, protection against theft and fire damage, but also protection for you and your bike if you were to be in an accident. So if you are concerned about how you could afford to replace or pay for repairs to your bike if the worst were to happen, then this level of cover is definitely worth considering.
There are a whole variety of add-ons on offer that you might want to consider to give you further protection, such as motorcycle breakdown cover. While you will have to pay a little more for this it ensures that you can be out enjoying your bike rather than worrying about what would happen if something went wrong. But make sure that you always read the small print and double-check what is included in your policy before you buy as all insurance policies differ and you may end up duplicating something that you already have.
Get the right motorbike insurance cover for you
Whether you choose to opt for third party bike insurance, third party fire and theft or fully comprehensive will be entirely dependent on your own personal circumstances. You need to ensure that you do your homework so you know exactly what it is that you need.
If you want complete peace of mind against being hit by a huge bill that you couldn’t afford, then it is definitely worth paying that bit more for third party fire and theft or even fully comprehensive. What might cost a little more now could result in affording you big savings in the future.
However, if you believe that you do only need a very basic policy, maybe because your bike is on its last legs and not worth very much anyway, then it might be worth considering a more basic third party motorbike insurance policy.
By using MoneySupermarket’s dedicated bike insurance comparison site, you can compare deals at all three levels of cover and find the best deal for you. You will be able to see a number of quotes and find the best motorbike insurance policy for you.