Motorbike Gap Insurance has always been a contentious issue for insurance underwriters. Gap Insurance only comes into play when a vehicle is written off, so motorbikes can offer a higher risk in the underwriters eyes.
Why is Motorbike Gap Insurance a higher risk?
If a motorbike is envolved in an accident, it tends to sustain more damage, and this coupled with a generally lower value than a car, means that the ‘write off’ chances are relatively high.
Also, motorbikes are physically smaller than a car, and therefore can be easier to steal, another occassion that can provide a ‘write off’ scenario.
However, this can be balance with the fact that motorbikes tend to cover less miles, many are only ‘second’ vehicles, so with less time spent on the road, there may be less chance of an accident.
All things considered, motorbike Gap Insurance is something many gap underwriters have avoided, and will not provide policies. Some do provide cover, but with an increased premium for a ‘specialist’ motorbike cover.
So is Motorbike Gap Insurance really expensive?
However, there are insurers who provide cover for motorbikes under the same standard policies they offer for cars and other vehicles. No point paying more if they would cover you for the same, right?
The best bet for motorbike gap insurance is to look for a policy from one of the larger insurers in the field. They may take the view that with the volume of policies they sell, that motorbike gap insurance, and the higher risk it presents, can simply be ‘absorbed’ by all the other policies they underwrite.
AM Trust Europe are one of these companies, who provide RTI, Combination RTI, VRI, and other standard policies that cover motorcycles. Motorbike Gap Insurance can be purchased via your motorbike dealer, or leading online providers such as EasyGap.co.uk .
Motorbike Gap Insurance does not mean you have to pay a ‘premium’ for your cover.