The top ten bike insurers in the UK
In the UK, when it comes to motorbike insurance, you’ll find a bunch of brokers ruling the market. Some key players are Devitt (that’s us!), Carole Nash, Bennetts, and BikeSure, just to give you a taste.
What’s interesting is that these companies partner up with various top UK underwriters. These underwriters each have their own unique policies and price deals.
Remember, even if you buy your bike insurance through a broker, the crucial decisions like validating your claim and determining the payout amount are made by the insurance company that backs your policy.
The top ten bike insurers in the UK (in no particular order) are:
- AXA
- Aviva
- Ageas
- Highway LV
- KGM
- Markerstudy
- Novitas
- Zenith
- Europa
- ERS
Which bike insurance do you need – the cheapest or the most wide-ranging cover?
Certain bike insurance providers offer two types of policies: one basic, and another with extra features included.It all boils down to what you specifically require from your insurance policy – what are your preferences and necessities…
Claim Excesses = Be cautious of high excesses, which are the amount you contribute towards damage claims for your vehicle. While you could snag a low-cost premium, if you ever have to file a claim, the excess might be too much for you to handle financially, leaving you without your ride (which is definitely not ideal).
If you buy ‘Excess Protect’ items, they will only pay for part of your excess, not the full amount. For instance, if your excess is £2,000 and the Excess Protect product only covers £1,000, you’ll still have to pay the remaining £1,000.
Optional extras = When choosing an insurance provider, be cautious about “free” add-ons that seem attractive. It’s crucial to carefully review the terms and conditions. If these conditions could make or break your decision, ensure they hold genuine value and are reliable.
Legal expenses – you may feel that legal expenses are unnecessary “if I need legal help I can just use no win no fee providers” yes you can, but how much of your pay-out will they take, 15%? 20%, more?
With legal expenses you have legal assistance in the bank and they won’t take any of your pay out (this might not always be the case when legal expenses is included for free – they might take less of percentage of your final settlement but they may still take some!)
Who has the best motorcycle insurance rates in the UK?
It’s important to know that there isn’t a single motorcycle insurance provider that offers the lowest rate for everyone.When you come across ads claiming to have the ‘cheapest rate guaranteed’ or ‘guaranteed to beat your renewal quote,’ it’s usually from a comparison site. They can access rates from various bike insurance providers to help you find the best deal.
Each insurance company or underwriting agent has its own pricing strategy and risk assessment methods. This means that none of them offer the best price for everyone. They each have unique preferences and ways of evaluating risk profiles.
Each insurance company or underwriting agent has its own pricing strategy and risk assessment methods. This means that none of them offer the best price for everyone. They each have unique preferences and ways of evaluating risk profiles.
Take a look at their reviews. Are they taking care of their customers well? Do they answer the phone and respond to emails? Are they paying out claims? Are they putting high excess fees on their low-cost premiums, making it hard for you to claim if you have to?
How do you know if you’re selecting the best motorbike insurance provider?
- Do they respond to their negative reviews?
- Do they reply to complaints on their review site quickly?
- How many reviews have they got?