Bike Insurance Policy Excess

Apart from Third Party Only bike insurance policies, all other types of cover have a compulsory policy excess which must be paid in an event of a bike insurance claim.

Quote Bike explains how a bike insurance policy excess works, read on.....

When you buy a bike insurance policy, always ask how much is the policy excess. Although it's the company's job to tell you the excess but be on the safe side.

Here's an example of how bike insurance policy excesses work.

Price Of Bike Insurance: £600

Excess: £500.00

Insurance Cover: Full Comprehensive

Value Of Your Motorbike: £2500

If your motorcycle got stolen, (depending on the market value price) you would be paid out £2500 minus £500 (the excess) = £2000.00

If the claim is settled as a non-fault, you can claim the excess back from the third party's insurance company.

Is A Theft Claim A Non-Fault Claim?

NO. All theft claims are settled as FAULT claims. This is because the insurance company have no one to claim the money back from. UNLESS, They find the person who stole it and recover the money through court. This is very rare, but not impossible.

Would I Get Paid Whatever I Value My Bike At?

NO. Insurers will only pay whatever the market value of the vehicle is. If you only had low mileage and full service history, you'll probably get more money.

We hope this policy excess information was useful, please free to contact us for any question you may have.

Last edited: 28/12/2005