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Prices for motorcycle insurance coverage, which is mandatory anywhere in the UK, can vary widely depending on a number of factors, including the motorcycle rider's age and driving record, the size and type of the bike insured, and where the rider lives. There are also a number of coverage options, which can affect the price. Types of insurance coverage include:
Third party. This is the minimum required type of coverage, and it is also the cheapest. The 'third party' refers to any property the rider could damage or any person the rider might injure. The rider is not covered for personal injury or for damage to the motorcycle. If the rider damages a car, the car owner could file a claim against the rider.
Third party fire and theft. This is the same as third party coverage, but it also covers the rider against the motorcycle being stolen or damaged by fire.
Comprehensive. This is the most expensive but best insurance coverage, although it does not cover any passengers or property from injury and damage. This coverage usually includes:
* Damage to the motorcycle
* Replacing any parts damaged in an accident
* Personal injury to the rider
Pillion passenger insurance.
The rider now has the option whether to have this cover or not; in the past, all policies automatically included cover for a pillion passenger. The rider can save up to 10% by not selecting coverage for a passenger, but then the rider should not ever carry a pillion passenger on the bike.
Insurance coverage typically has what is called an 'excess' meaning that the rider has to pay for first 50 or 100 pounds of damage before the insurance begins to pay. The insurance company will provide a certificate of insurance, which the rider must carry on the bike to present when applying for a license, if asked by a policeman, or in the event of an accident.
Exact coverage varies between insurance companies, so the rider should review the policy carefully and ask the broker any questions. Engine-size groups also vary between insurers, and the rider should comparison shop to obtain the best coverage and rates.