What Types Of Bike Insurances Are There

As with all vehicles that are to be used on public roads, some form of bike insurance is required before a bike can be taken out off private land. Also similar to other vehicles, there are three types of bike insurances available to suit everyones needs, budgets and personal and individual requirements.

Whilst it is often the most expensive form of bike insurance, fully comprehensive bike insurance is the option that provides the most cover. In essence, fully comprehensive bike insurance covers the policy holder for all aspects of accidents or incidents. Whether the policy holders bike is stolen, generally including from both home or away, or is involved in an accident and is beyond repair, fully comprehensive bike insurance will ensure the policy holder is provided with the appropriate monetary amount. In addition, if the bike is involved in an accident and is repairable, fully comprehensive bike insurance will pay for any repairs needed to bring the bike to full and proper working order, whilst also, in most cases, providing a temporary replacement bike to be used until all repairs have been complete.

Furthermore, fully comprehensive bike insurance not only pays for any involvement in an accident, regardless of who is accounted as being liable, but also covers everything covered under third party, fire and theft and third party only insurances.

Seen as a popular form of bike insurance, third party, fire and yheft bike insurance policies are often the considered the middle ground in terms of both cover and price. Third party, fire and theft bike insurance provides the policy holder with bike insurance that covers them should any third party claim against them in the event of an accident. Furthermore, this type of bike insurance will cover the holder should their bike be stolen and not recovered, or set on fire. In the case of fire, the bike insurance companies will either pay for any repairs that need to be carried out or should the bike be beyond repair, or not be financially viable to repair, will pay the market value for the bike.

The final option of bike insurance is third party. Of the three bike insurance policies that are available, third party is the most basic insurance available and provides the policy holder with the legal minimum level of cover required. Almost always the cheapest bike insurance option, third party only covers the policy holder for any claims against them in the event of an accident. Any other claims to the insurance company, for example theft of a bike or personal injury claims, are not covered and no monies will be paid out.

Bike insurance is a legal requirement for anyone looking to ride a bike of any shape, size or form on a public road. Whether choosing a fully comprehensive, third party,fire and theft or third party only policy, bike insurance is a necessary requirement for any bike owner, with prices and types of cover to suit all needs and budgets.