Multi Bike Insurance
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The purpose of multi bike insurance is to help simplify coverage for the bike enthusiast and help protect them when they are in the wind. With many people that enjoy riding owning more than one motorcycle, having one policy to cover them all reduces the paperwork and hassle of always being covered following UK law.
This type of insurance is specifically designed to protect all the motorcycles one person might own. This makes it possible for the biker to pick the bike each day that suits their needs or desires for that day. What is understood by the insurance company is that one person can only ride one bike at a time. Because of this, discounts are provided for each bike on the policy after the first one is covered. This is done because of the reduction in the road risk since only one bike is on the road at any given time while the others are parked.
Multi bike insurance takes care of the UK requirement for a motorized vehicle to be legal on the road. The multi portion of the policy allows for the owner of more than one bike to ride the one they want to and be covered. The three options are standard across the UK and they are;
The standard comprehensive policy will vary from the many different insurance companies, but generally, you can expect the following;
To ensure the bikes are covered with the level the owner wants, the most expensive and highest premium bike is the base used for the policy. Each additional bike is then discounted for cover which is effected in price by its value, how old it is and the engine displacement.
Another factor is the driving record of the policyholder. Those with no tickets or accidents will have a lower rate than those that have road incidents and claims.
The base understanding with the multi bike insurance quote is that there will only be one rider. While a second rider can be added to the policy, the cost of the premium will increase due to the higher road risk included with more than one bike on the road at any given time.
Yes, a No Claims Discount is applied to the multi bike insurance policy since it is just one policy covering all of the bike listed in the policy.
For most insurance firms the upper limit is 4 different bikes. There are a few that allow for more than four, but that affects the discount rates of the bikes being added.
By having all of your bikes under one policy there is only one set of insurance paperwork. This simplifies the process when making a claim, knowing what is covered and only having to pay one premium.
Saving money with a multi bike insurance policy does not always have to mean going with the cheapest quote. There are certain things you can do to reduce the cost of the premium.
For motorcycle enthusiasts with more than one bike, multi bike insurance could save time, money and hassles by having all the paperwork and coverage into one neat little package. This is an organizational tool many use to simplify their coverage.