Riding a motorcycle is a unique and thrilling experience, with the wind in your hair and nothing but a helmet between you and the open road. But being a motorcycle rider also comes with its own set of risks, especially in South Africa where traffic congestion and fatal accidents are becoming more common. That’s why it’s essential to have motorcycle insurance to protect you, your motorcycle, and your loved ones while you’re out on the road.
Do you know what cover options there are for you as a motorcycle owner and how to choose the best option? In this article, we’ll take a closer look at motorcycle insurance, what it covers, and how you can save on your monthly premium costs.
What Types of Motorcycle Insurance Are There?
When it comes to insuring your motorcycle, you’ll find that insurance policies usually fall into three categories: third-party, third-party fire and theft, and comprehensive insurance.
Third-party insurance covers damage or injury to another person or their motorcycle in the event of an accident with you. Third-party fire and theft insurance builds on third-party coverage, adding protection for your motorcycle in the event of fire or theft. Comprehensive insurance is the most comprehensive option, covering both third-party, fire and theft, as well as damages to your motorcycle in the event of an accident, regardless of who is at fault.
While third-party and third-party fire and theft insurance may be cheaper, it’s essential to consider the risks of spending a lot of time on your motorcycle and invest in comprehensive insurance for complete protection. Vehicle accidents involving motorbikes are common, and motorcycle insurance claims can be rejected when you have inadequate cover.
What Are My Motorcycle Insurance Coverage Options?
When it comes to motorcycle insurance coverage, it’s essential to understand what your policy covers. It can include things like accidental damage or third-party liability, and it is important to consider factors like common exclusions.
- Accident damage: Ideally, your motorbike insurance should include coverage for damages to your motorcycle in the event of an accident. This cover is not available in third-party only policies (the cheapest policies).
- Emergency roadside assistance: Does the policy you are considering offer access to towing assistance in the event of a breakdown? This could include the hire of a reliable tow truck, flat tyre repair, and emergency fuel.
- Medical assistance: Some policies include coverage for medical expenses in the event of a motorcycle accident. This is an emergency assistance benefit that can make a big difference to injured persons at the accident scene.
- Comprehensive coverage. Coverage that covers more perils is preferable since biking can be considered dangerous and fraught with risks. You can look for comprehensive motorcycle insurance to cover damages to your motorbike, third-party damages, fire, theft, and accidental damage.
- Additional riders and passengers: If you often ride pillion, you may need coverage for your passengers or for other riders who may use your motorcycle. Many policies offer the option to add or remove riders as needed and can sometimes include medical assistance or liability for passengers.
- Replacement cost. It is important to insure you have enough coverage for the replacement cost of your motorcycle in the event of theft or total loss in vehicle accidents.
- Common exclusions. It’s essential to understand the common exclusions in motorcycle insurance policies, such as acts of nature in some cases, custom spray jobs, and custom bikes, to name a few.
Motorcycle Insurance for Different Types of Bikes
Motorcycle insurance can be tailored to different types of bikes, including sport bikes, touring bikes, cruiser bikes, and scooters. Coverage options and rates may vary based on the type of bike you own and your riding habits.
- Sport bikes, which are designed for speed and manoeuvrability, often come with higher insurance rates due to their increased risk of accidents.
- Touring bikes are designed for long-distance rides. They may require higher liability coverage due to their larger size and the potential for damage in an accident.
- Cruiser bikes have a more relaxed and comfortable riding style. These types of bikes may have lower insurance rates, but they often still require comprehensive coverage for theft and weather damage.
- Scooters are smaller and typically have lower speeds. This means they may also have lower insurance rates, but riders should still consider purchasing liability coverage to protect themselves in the event of an accident.
What is the Cost of Motorcycle Insurance in South Africa?
The cost of motorcycle insurance varies depending on several factors, including the type of insurance you choose, your demographics, and your riding history. For example, younger or inexperienced riders are more likely to pay more for insurance, as are riders with a history of accidents or multiple insurance claims.
The cost of your motorcycle insurance cover can also depend on the policy, since only some have affordable premiums. Different insurers offer different costs, perks, and value-added services. To find the right fit, it’s best to compare your options.
How to Lower the Cost of Your Motorcycle Insurance Premium
There are several ways you can keep your monthly motorcycle insurance premium costs low, such as:
- Increasing your excess. By agreeing to pay a higher co-payment in the event of a claim, you can reduce your monthly insurance payments.
- Respecting your limits. Half of all road accidents in South Africa involve alcohol, so it’s essential to avoid driving under the influence of alcohol and then making insurance claims.
- Learning defensive driving. Investing in defensive driving techniques can help you prevent accidents and reduce your risk, often leading to lower insurance premiums.
- Wearing the right gear. It is a good idea to always wear a safety helmet and protective clothing to reduce the risk of injury in the event of an accident.
What Can Make Your Motorbike Insurance More Expensive?
1. Customisations
While it’s true that adding custom spray jobs, carbon fibre, and other enhancements to your motorcycle may increase its value and make it look cooler, these modifications can also drive up the cost of your insurance policy. This is because specialized insurance for custom bikes is typically more expensive than for standard models. In addition, your insurance company may also exclude custom modifications from your policy coverage, so it’s always best to check the policy wording before making any upgrades to your motorcycle.
2. Bike Type & Engine Size
The type of bike you own is also an important consideration when getting motorbike insurance. For example, touring bikes and road bikes typically require a different type of insurance coverage than quad bikes or muscle bikes. The engine size of your motorcycle is also an important factor, as larger engines may result in higher insurance premiums.
How to Get the Best Insurance for Bikes for the Lowest Price?
When selecting a motorcycle insurance policy, it’s important to consider a variety of factors, including the type of bike you own, your age and experience as a rider, your riding history, and the frequency of your motorcycle use.
In addition to considering the different types of motorcycle insurance policies available, you can also compare insurance quotes from several different insurance companies. This will give you a better idea of the different coverage options available, as well as the cost of insurance for your specific type of motorcycle.
If you’re looking for affordable motorcycle insurance, you can find it by filling in the form on this page. Our advanced system will then match you with the ideal insurer for your needs, and they will call you with a free quote. You can ask them about common motorcycle insurance exclusions and the motorcycle coverage they offer. You can discuss their motorcycle insurance rates and compare their offer to other insurance offerings.
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