Life Insurance is available to most people who ride motorcycles, whether as a mode of transport, occupation or as a sport. The question is who will be best to place cover with and what price will the cover be.
Most UK insurance providers will pay out for motorcycle accidents as long as your cover did not specifically exclude it when you took it out.
Motorcycle Riding for General Transport
If you use a motorbike on the roads to simply get from point A to point B, then Life Insurance for motorcycle riders is generally acceptable at normal terms with no exclusions for bike riding. You do need to be careful however as one major provider (at the time of writing this), Ageas Protect, will ask additional details about your motorcycle riding. If you ride a high CC motorcycle, i.e. over 500cc and are under the age of 50, then Ageas will increase your premiums.
Ageas have taken this view as they claim that a motorcyclist is 46 times more likely to be killed in a road accident than the driver of a car. Of these 4 out of 5 will be riding a bike over 500cc.
At present, this is not common practice and you are likely to see standard terms with the other providers on the market.
Motorcycle Riding for your Job
If you are required to ride a motorbike for your occupation, for example police motorcyclists, motorbike trainers and motorcycle ambulance, then Life Insurance is likely to be acceptable at standard terms with most UK providers.
If you are a professional motorcycle racer then Life Insurance may be more troublesome, however it should still be available. This is usually viewed in a similar fashion to motorcycle racing, please see below.
If you are a motorcycle racer then Life Insurance may be a little more involved to place and you will need to choose the right company depending on what size bike you ride, how often and what events you take part in.
Some events such as enduro racing and moto-cross can be acceptable at standard terms. Events like ice racing and circuit racing will be largely dependant upon the frequency, location and speed of the races.
In some circumstances cover can be offered with a higher premium, however on special request some insurance providers may offer an exclusion instead of a price increase.
- If you would like more information on obtaining insurance when you take part in motor sports click here.