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Motorbike insurance works much the same way as any other, the more benefits there are attached to the policy the more expensive it will be.
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Deciding on whether to take out a third party policy or go for the fully comprehensive option is a personal choice based on finances as well as situation.
If your bike is an expensive model and you have a long history of no claims and you are in your 40's then your quote may not be too prohibitive. Your location will also be a deciding factor on your final quote.
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The cost of your annual policy will vary with;
- Your age - the older you are, the less it will cost
- The make of your motorcycle
- The power and capacity of the engine – riding a less powerful bike to start with
- Your postcode
- The amount you pay on excess – always offer to pay the most you can
- Whether you have any no claims bonuses – don't claim unless necessary
- Make your bike as secure as you can and tell your insurer
- Limit your mileage at least to under 5,000 a year if you can
Paying for the best motorbike insurance possible is not unfortunately, going to stop the thieves in their tracks but it will mean that you should not be too out of pocket if your bike is stolen.The National Crime Intelligence Service has recently undertaken a survey regarding performance motorbike theft. Its shocking results show that there are more motorbikes stolen in the UK than are purchased new.
It takes on average 20 seconds to steal a motorcycle worth £10,000 and although there is a certain criminal element stealing for so called ‘joy riding'. The thefts are mostly carried out by well organised group of a dozen or so criminal gangs who often sell the parts on the black market, in fact over £3 million worth of motorbikes are stolen almost every month of the year and only 16 per cent of stolen bikes are recovered.The criminals will drive a large van up to a motorcycle where accomplices open the van door, thrust scaffolding poles through the wheels, and lift the bike into their vehicle.
The survey resulted in the following findings;
- Thefts are concentrated around Central London , probably linked to patterns of commuting.
- The top five areas for theft include West Yorkshire, West Midlands and Greater Manchester.
- The top four makes of motorcycle that account for over 85 per cent of thefts are Hondas, Yamahas, Kawasakis, and Suzukis.
- 80% of bikes stolen from an owner's home.
- More thefts occur in large urban areas
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