Getting A Separate Bike Insurance Policy Is Important

Do you own both a motorcycle and a car? If your answer to this question is a yes, the next question might have crossed your mind before: Does my car insurance also cover my bike? Whether you are considering getting a motorcycle or already own both motor vehicles, your car insurance does not cover your bike. In this article, we will highlight the importance and necessity of having bike insurance.

Does my car insurance also cover my bike?

The straightforward answer to this question is no. It would be best if you had a separate insurance policy for your bike, and that includes anyone who has access to that bike. Like car insurance, you cannot ride a motorcycle in Singapore without proper coverage. Hence, if you were to ride your bike and get into an accident, you could be charged responsible for every damage without adequate coverage.

Types of bike insurance

It is vital to know that studies have shown that when caught in an accident, it is always the bike rider that receives the most damage as compared to other vehicle owners. Hence besides getting a policy that covers liability, you will also want to seriously consider purchasing one that covers medical expenses, bike repairs, as well as a No Claim Discount (NCD). However, do note that NCD is not applicable to new riders.

Hence, here are some types of bike insurance you can consider:

• Third-Party Only (TPO) Coverage: This is the most basic form of coverage. Liability should be your key priority when purchasing bike insurance. There are two types of TPO insurance: coverage for third-party damaged property and bodily injuries. These two coverages apply only when you cause damage or injury to another person. The liability limits of motorcycle insurance are lower when compared to car insurance. This is because bikes generally do not cause as much damage as cars.

• Third-party theft and fire coverage: This form of coverage extends beyond the TPO coverage. It ensures that you are adequately insured should your bike get stolen or damaged by fire in Singapore.

• Comprehensive or first-party coverage: This form of coverage combines theft and fire, liability, and protection from any accidents in one policy. It also covers losses from theft, water and fire damage, or if your bike crashes into anything besides another vehicle.

• Personal accident coverage: As mentioned earlier, motorcyclists are often the one that receives the most damage as compared to other vehicle owners. Unless you have already owned adequate health insurance to cover your medical bills, you will need to purchase additional personal accident coverage. You may add on this other option as part of your bike insurance policy.

Factors that affect your bike insurance premium

• General information such as how old you are and where you live

• Your past riding record, such as the inclusion of any past accidents

• The model, make, and year of registration of the motorcycle

• What do you use your bike for

It is crucial to be aware of these factors as they affect not only your overall premium but also the extent of policy coverage. Hence, it is highly encouraged to be as truthful as possible when answering the relevant questions.

Conclusion

Now that we have shown you the importance and type of bike insurance, it is up to you to make sure that you have adequate policy coverage for your bike. Regardless of the distance travelled or time of ride, you need to have at least TPO coverage to ensure a legal ride on Singapore roads. Other than that, it is best to protect not only yourself but also your loved ones by getting comprehensive bike insurance.

For more information on purchasing a motor insurance plan, be it for your motorcycle or car, you may contact us at https://www.iii.com.sg/motor-insurance/ or at +65 6347 6100.