Here are five common myths about motorcycle insurance debunked:
Myth 1: You are automatically insured on other motorcycles if you have a fully comprehensive policy.
Debunked: While some comprehensive policies may include coverage for riding other motorcycles (usually with Third Party Only cover), this isn’t automatic across all comprehensive policies. It depends on the insurer and specific policy terms.
Myth 2: Insurance premiums always go down after each year of cover.
Debunked: While no claims bonuses (NCD) can lower premiums, it’s not guaranteed. Other factors like motorcycle condition and overall market conditions can influence renewal prices.
Myth 3: Your job doesn’t affect the cost of motorbike insurance.
Debunked: Certain professions, especially those involving frequent travel or use of motorcycles, can be considered higher risk by insurers, potentially leading to higher premiums.
Myth 4: Not making a claim will prevent premiums from going up.
Debunked:Even without making a claim, premiums can increase due to broader market trends or adjustments in risk calculations by insurers.
Myth 5: It’s cheaper to cancel your motorcycle insurance during periods when you’re not riding it, like winter.
Debunked:Cancelling and reapplying for insurance can lead to higher premiums due to lapses in coverage and potential loss of no claims bonus.
Understanding these myths can help you make informed decisions when setting up or renewing your motorcycle insurance policy. Always review policy details carefully and consider consulting with your insurer to clarify specific coverage terms.