Motorbike Insurance Company UK

Recently, premiums for motorbike insurance have been rising. The reason for this is not necessarily that motorcycles are more dangerous or that there are more accidents. The reason is more down to the propensity of the courts to award much higher compensation payments to the victims of accidents. This has been exacerbated by the rise of "no-win-no-fee" solicitors, who are making people much more likely to search for compensation as the risks for them are down. When you add to that the impact of the new policy announced by the NHS of passing on the costs involved in treating victims of accidents back to the insurance companies, then you can see why motorbike insurance is more of a risk to insurance companies.

So what can you do to try and mitigate the effect of these premium rises on your pockets? Well, it's not like insurance companies have no business coming their way so have to raise prices to make profits. In fact there is an ever-growing army of scooter owners, born again bikers and those die hard big capacity engine riders.

What's important to understand though is that mainstream motor insurance companies are not the place to go to keep your premiums down. They are not experts in motorbike insurance and that being the case, they see it as more of a risk, so will set their premiums higher to combat that perceived risk. Some mainstream motor insurance companies may not insure motorbikes at all, some only for people of a certain age. Therefore, its not likely to be a good idea to go to these mainstream insurance companies. Instead, you should go to motorbike insurance specialists, in order to maybe find the savings to offset the premium increases.

The reason why specialist motorbike insurance companies are your most likely bet for getting better value motorbike insurance is that they offer insurance products that are more specially tailored to motorbike riders. For instance, they should understand that motorbike riders need to be segmented into as many groups as possible. It is not as simple to say that motorbike riders are segmented into young and old, or scooter, mid-size or large capacity bike riders. Within each band there are sub-groups that need to be recognised and are only likely to be recognised by experts who understand the motorbike riders and vehicles. In the large capacity bike segment, there are bikes like Harley Davidsons or Ducatis which are far more likely to be stolen than Moto Guzzis, which are more for commuting than racing.

Also, you could have young riders with a lot more expertise and experience than older riders, and they shouldn't necessarily be punished simply for their age. You may also get discounts.

 

 

 

 

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