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 bike, having one policy to cover them all reduces the paperwork.

Who benefits from multi bike insurance?

This type of insurance is specifically designed to protect all the bikes one person or family 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.

What is multi bike insurance?

Multi bike insurance takes care of the UK requirement for a motorised 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 are;

Third Party
Third Party Fire and Theft
Comprehensive

What is included in a comprehensive policy?

The standard comprehensive policy will vary from the many insurance companies, but generally, you can expect the following;

Personal accident cover for up to £20,000. This includes payments when you are hospitalised.
European Union cover for up to 90 days annually. Some insurance companies allow up to 183 days of cover in Europe.
UK and European roadside breakdown cover.
Leathers and helmet cover up to £1,500.
Legal cover up to £100,000.
Key cover up to £1,500 to cover the cost of lost, stolen or damaged keys and locks.
A few insurance companies cover a track day when you are at a race or a motorcycle event.

How is the multi bike insurance priced?

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.

Can my No Claims Discount be applied to the multi bike insurance policy?

Yes, a No Claims Discount is applied to the multi bike insurance policy since it is just one policy covering all the bike listed in the policy.

How many bikes can I cover with a multi bike insurance 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.

What are the advantages of having a multi bike insurance policy?

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.

How can I save money with a multi bike insurance policy?

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.

Storing the bikes in a covered locked building or shed when they are not in use.
Placing a security system or anti-theft device on the bikes.
Having a GPS locator on the bikes.
Increasing the excess you will pay when making a claim.
Avoid reckless riding to reduce possible traffic citations.
Pay the premium annually to avoid interest.

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.