Advice

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What Are My Obligations to My Motorbike Insurer?

Even though you are paying for your motorbike insurance cover, you still have a few obligations to your insurer. There are certain facts that you must tell your insurer when you first sign up as well as circumstances that you must inform him of as long as you have the insurance.

Every individual has a “duty of faith” when applying for insurance cover. This means that you must inform your insurer of any circumstances that are likely to influence his decision to insure you or not. Plus, your duty to inform him continues once you have the insurance.

In essence, your potential insurer has the right to know if you are a good risk. Factors that are likely to influence his decision include the existence of any convictions for drinking and driving, fixed penalties, driving accidents, convictions for dangerous driving, as well as other similar circumstances.

Some general requirements exist as well including the method of storage of your bike. If at any time that changes, the insurer needs to be informed immediately. Additionally, any bike modifications that are completed must be reported to the insurer at the time they are made. Plus, if you change your method of transportation by getting a new vehicle, this also has to be reported. Not everyone will fall into this category.

The condition of your motorbike is also a critical factor and must be reported at the time your insurance cover is initiated. At the very least, your bike must be road worthy at all times and it is up to you to keep it that way. Some insurers require that motorbikes be maintained in a reasonable condition, which is a higher standard.

The failure to report any of these obligations to your insurer can result in a breach of policy. This can lead to a refusal by your insurers to cover you against any claims made by other individuals. The cost to you could be tremendous. Therefore, unless you want to risk thousands of dollars, inform your insurer of all important matters at all times.

Tips for Cutting the Costs of Your Motorbike Insurance

Motorbike insurance cover can be quite costly. With the cost of everything around us going up, following a few good tips to cut the cost of your premium can be a terrific idea.

Most of these tips are straightforward and simple to do, so follow as many of them as you can to save some money (money you can easily spend on upgrades for your motorbike).

The first step any motorbike owner should take is to store the bike in a garage, preferably one that is locked. Not only will you reduce the cost of your insurance, but also, you will keep your bike in better shape. At the very least, your bike should be parked somewhere off the main roads.

Next, purchase an alarm and a security system for your bike. This strategy does lower your premium as well, but it also gives you peace of mind. After all, if you love your method of transport the way that I love mine, you’ll want to keep her nice and safe. Plus, quite a few varieties of security systems are on the market today, so you’ll have lots to choose from including alarms, immobilisers, and steering locks.

A lower premium can be yours as well if you develop and qualify with advanced riding skills. You can join a motorbike club that offers a discount on insurance cover. Plus, you can choose to ride a classic or standard bike rather than a sports bike since the insurance premium will definitely be lower.

You can also consider buying a new bike if you do not have one yet. Quite often, an insurance deal is offered to the owner of a new motorbike. Just realise that the premium can go up after a few years.

There is also the lowering of cost by agreeing to be responsible for the policy excess, which is also referred to as the first part of the claim. In general, the greater the amount of excess that you are willing to cover yourself, the lower your premium will be. Drive safely and avoid accidents to prevent your premiums from going up.

Few motorcyclists can take advantage of this last tip, but if you can, you should. Riders who live in the countryside pay much lower premiums than riders who live in the city. If you are currently looking for a place to live, consider this fact if you want lower premiums.

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