subject: Your Legal Obligations As A Bike Rider [print this page] Within the United Kingdom, that is England, Scotland, Wales and Northern Ireland, it is a legal requirement to have in place a bike insurance policy that as an absolute bare minimum covers the policy holder in the event of any third parties making a claim against them, in regards to them and their bike. Although there are various insurance options available to choose from, UK law states that the bike rider must at least hold a current third party bike insurance policy before a bike is used on a public road.
Third Party bike insurance, the most basic of all insurance policies, offers protection to the policy holder in the event of any claims being made against them. Whilst it encompasses several different aspects and scenarios, the most common occurrence of Third Party insurance coming into practice is when the policy holder is involved in an accident with another bike rider and the other rider makes a claim on their insurance policy for costs incurred through bike repairs, medical provision, legal costs and any compensation where applicable. In no shape or form does Third Party insurance offer assistance should the policy holder damage themselves or their bike, whether involved in an accident on the road or incident not involving any other parties.
Further to Third Party bike insurance, there are two other levels of cover that are available to suit the needs of bike riders.
Firstly, Third Party, Fire and Theft cover provides protection to the policy holder for exactly the same scenarios that are covered under Third Party insurance, as well as providing assistance should the bike that is insured be damaged because of fire or is stolen. In both instances, payouts will either be to repair the bike where possible, assuming that it has been recovered after being stolen, or will cover the complete cost of the market value of the bike if it is not financially viable to repair the bike.
Further to this, the most popular bike insurance option is Fully Comprehensive and is the most extensive level of standard cover that can be purchased. In essence, this option insures the policy holder against the majority of incidents that they may encounter. Regardless of whether the policy holder and their bike are damaged further to involvement in an accident or the bike is stolen and not recovered, a Fully Comprehensive insurance policy will ensure that the insurance company provides financial assistance as and when required.
Due to the amount of cover that Fully Comprehensive insurance offers, it is generally the most expensive option of insurance that can be chosen, in terms of the initial cost of the premium. However, should a cheaper policy be taken out in which the policy holder is not covered themselves, such as Third Party and accident occurs where the bike of the policy holder is damaged beyond repair, the overall cost of a new bike can be considerable and this is where the benefits of a Fully Comprehensive bike insurance policy are particularly apparent.
