As a general rule, there are three main types of motorcycle insurance: third-party insurance, extended third-party insurance, and comprehensive insurance. These three categories differ in the level of coverage offered by each of them, from the most basic in third-party insurance to the most extensive in comprehensive insurance.
Obviously, the premium to be paid will be higher in all-risk policies, given their higher level of coverage. In any case, you can also find insurance companies that offer other types of motorcycle insurance or a combination of the aforementioned modalities.
Third-party motorcycle insurance
Third-party insurance is the most basic and economic modality within motorcycle insurance. Your coverage is limited to civil liability, both mandatory and voluntary. In this sense, it covers the material and personal damage that you may cause to third parties as a result of an accident with your motorcycle for which you are at fault, but not your own.
Depending on each insurer, third-party motorcycle insurance also usually covers the passenger who may accompany the motorcycle driver. Other coverages that this type of motorcycle insurance usually includes are legal defense, driver’s insurance, and roadside assistance. These are, however, optional guarantees that, as such, can be included in the policy, although generally with a higher premium as compensation.
Extended third-party motorcycle insurance
It is a type of motorcycle insurance that goes beyond what is basic compulsory insurance. For this, it includes additional guarantees, such as motorcycle theft and fire damage. In this way, you obtain greater protection than that provided by third-party insurance itself. In exchange for this, the amount of the premium would also be higher.
The most common in cases of theft and fire is that the extended third-party motorcycle insurance offers the new value of the motorcycle during the first year and the market value if the accident occurs after the first year of registration. There are also companies that offer you free legal assistance with this insurance. In any case, the scope of the additional guarantees will ultimately depend on each insurer since the policies may vary from one to another.
All risk motorcycle insurance
Comprehensive motorcycle insurance is the one that includes the largest number of coverages for your motorcycle. Obviously, the price of the premium is also higher, although, in exchange for it, you get full protection. Thus, the insurance covers, in this case, in addition to the benefits covered in the other two modalities, the damages that your motorcycle may suffer, even in the event that you are responsible for the accident. The all-risk insured motorcycle is protected even if there are no third parties involved in the accident, as happens, for example, in the case of own impact damage.
This type of comprehensive insurance is highly recommended when you are new to your motorcycle or if you want to always have it in perfect condition. You can also hire it without a franchise or with a franchise. Insurance without excess is more expensive, but the protection of your motorcycle will fall exclusively on the insurer, so you will have maximum coverage in the event of an accident or mishap. If your insurance is, on the other hand, with an excess, the company will be responsible for the damage caused to your motorcycle in the part that exceeds the amount determined as an excess, while below said amount, you must be the insured person. Bear the cost of the repair.
How to choose the best motorcycle insurance?
When choosing one type of motorcycle insurance or another, you must take into account several factors, such as the use you are going to make of it, the coverage you want to have, and, of course, the price you are willing to pay. for the insurance. If you already have insurance for another vehicle, it is worth checking with your company if it sells motorcycle insurance since, being already a customer, you are likely to get a significant discount.
In any case, we advise you to compare between several companies and carefully analyze the offers of one and the other. To carry out this comparison, a highly recommended option is to use the motorcycle insurance comparator. It is very simple to use, and in just a few seconds, you will be able to obtain the offers of the most outstanding insurance companies, with the prices and coverage of their various types of motorcycle insurance.
