10 Motorbike Insurance mistakes and how to avoid them

Once you’ve bought your policy, it’s also important to make sure that you’re fully aware of what you are and are not covered for, and any other details that could come into play when it comes to making a claim. Whether you’re buying motorbike insurance, personal accident insurance, equestrian insurance or any other kind of insurance, there are right and wrong ways to go about. To help you avoid any potential trouble along the line, here are ten insurance mistakes that you should avoid.

motorbike insurance

1. Buying the first insurance policy you find – There are a million things in life that are more fun than buying insurance, but that doesn’t mean that you should rush the task and buy the first policy you find. When purchasing insurance be sure to clarify what you’re getting and compare it with other policies out there. Purchasing through a broker is often a good idea, as it enables you to easily compare a range of policies.

2. Putting off buying insurance – You might be of the opinion that getting your insurance sorted ‘can wait’, but accidents and other issues won’t hold off till your ready. The right time to buy insurance is as soon as you realise you need it.

3. Entering the wrong details in your policy application – Even if it’s an honest mistake, if one or more of the details that you provide when you buy insurance is incorrect, it could result in your entire policy being declared void. Make sure you double check everything.

4. Failing to pay attention to what you’re covered for – When you purchase insurance, it will usually cover you in a specific set of circumstances or conditions – check that the activity you’re engaged in is covered.

5. Missing the renewal date for your policy – Many insurance companies will send you reminders that you need to renew your insurance policy, but you should not rely on this, as it is you the policy holder that is responsible for renewing on time.

6. Not updating your motorbike insurance – If your situation has changed then it’s quite possible that you’ll need to change your insurance policy too. If for example you’ve applied a modification to your motorbike, then you’ll need to notify your insurance company.

7. Cutting costs by not insuring for certain risks – It can be tempting to try to save money by buying cheaper insurance which doesn’t cover you for all risks, but this will be a false economy if you then fall foul of this same risk. Instead, save money by consulting a broker who can get you the best deal on the insurance that you need.

8. Not considering all applicable risks – Before you buy insurance it’s important to consider what you should be insured for.

9. Under or over valuing – If you’re insuring motorbike, the insurer will want to know how much it’s worth. Failure to value correctly may result in you either paying too much for your insurance, or not being paid out as much as you should get in the event of a claim.

10. Not reading the small print – The devil is in the detail, and whenever you buy a new motorbike insurance policy you should check the fine print to get an idea of what is expected of you the policy holder, and of your insurance company.


About Author

Marc Loud is a partner at Park Insurance, for over 30 years of experience who cover a range of specialist sectors including driving instructor insurance.