In the UK the minimum age that you can start riding a moped on public roads is 16. For bikes with an engine capacity over 50 cc you have to be over 17 years of age. If you a learning to ride a motorcycle you need to have passed a CBT or Compulsory Basic Training to then validate a provisional licence. Learner motorcyclist's also have to clearly display L plates on the front and rear of the vehicle.
Insurance Cover Levels for motorcycles are similar to those provided for cars, third part only, third party fire & theft and fully comprehensive.
Third part only is the minimum level of cover required to legally ride a motorbike in the UK. As the name suggests this only covers liability for damage to third parties but not for yourself. So if your bike is damaged, stolen, or destroyed by fire you will not have any cover.
Third Party Fire & Theft encompasses everything that third part offers but includes liability for theft and fire damages.
A fully comprehensive policy will cover you for damage caused to third party vehicles, fire, theft and damage to you, your motorbike and property, even if that damage was your fault. This can be the most cost effective level of cover depending on the value of your vehicle.
How is Bike Insurance Calculated?
In general higher powered motorbikes with bigger engines tend to create higher insurance premiums as they are higher risk. Bigger bikes are harder to control and cause more damage if involved in an accident to warrant this higher risk similar to cars. However besides this there are many factors insurance companies will consider when calculating your motorbike insurance premiums.
Motorbike Usage
The more mileage that you cover the more likely that you may be involved in an accident regardless of fault. Similarly if you are planning on using your bike for commuting to and from work and social use this will create a higher premium than just social use not because of the mileage alone but because you are travelling at peak times where more cars are on the road.
Where You Live
Both where you live and how securely you park and store your motorbike have an effect on the cost of insurance. Location is a factor which is statistically calculated from crime rates. Different areas of the UK have higher vehicle crime than others, this will influence insurance premiums.
Where you Park Your Motorcycle
Keeping you motorbike locked up at night will help to keep premiums down, as will other anti-theft measures such as bike locks, an immobiliser and things like motorbike ground anchors. Also keeping your bike in a garage or secured car park will naturally lower your premiums than keeping your bike on the street or drive.
Claims or Convictions
If you have any unspent motoring convictions or have made a claim in the five years prior to applying for new insurance, this will increase the cost of your cover.
How Can I Reduce the Cost of my Insurance
If your bike is kept in a secure garage and not on the road you could reduce your premium.
Bikes that have been modified or bikes with powerful engines will cost more to cover. The smaller the engine (cc) the lower your insurance.
If you are able to reduce your annual mileage you could reduce the cost of your insurance.
An approved riding course such as the one offered by the Institute of Advanced Motorists could help you to obtain reductions with certain insurers.
Fitting additional, approved security devices could lead to cheaper bike insurance.
You can opt to increase your voluntary excess to get a reduction in your annual premium - so you agree to a higher excess level (the amount that you will pay in the event of a claim).
Think about whether a different type of cover would suit your requirements - third party fire & theft could be a suitable (and cheaper) alternative to fully comprehensive cover.
Avoid paying interest on your policy - paying by instalments can attract hefty interest charges that can be avoided by paying the annual cost up-front.
The best way to reduce your insurance costs is to maximise your No Claims Bonus discount. If you upgrade to a larger engine size gradually you could build up a claim free history on a less powerful model before having to insure a more powerful version.
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