subject: Multiple Motorcycle Policies: Are They Right For You? [print this page] If you have more than one motorcycle, you may be considering purchasing an insurance policy for multiple motorcycles. There are advantages and disadvantages to these types of policies. Before you hand over your hard earned pounds to your insurance agent, though, it is important to be sure it is the right policy for you.
One of the main advantages of multiple vehicle policies is convenience. As long as you do not have a large number of motorcycles, you can usually include them all on a single policy. You generally only have one bill, rather than several to keep up with. If you have difficulty keeping up with bills, this can make bill paying a lot easier and you won't have to worry about one slipping through the cracks.
If you have fire and theft protection on your policy, it can also ease the claim process if you lose your motorcycles due to fire. With each motorcycle on a separate policy, you would have to try to remember which policy goes with each. Then, you would have to file several claims. In a combined policy, it may be possible to file a single claim for all of your damages or losses. This makes it easier on you and can also result in a faster resolution to your claim.
Another advantage of these policies is they can sometimes net you a discount on your motorcycle insurance premiums. As with multiple car policies, insurers often reward customers for giving them more business. This is not true of all insurers, though, so make sure to ask ahead of time.
One of the main disadvantage of multiple motorcycle policies is the limits. Many insurers will only cover one named rider on the policy. If you allow another rider on your bike, the insurance company may refuse to pay the claim in the case of an accident.
There is usually a limit on the number of motorcycles you can cover through the policy as well. If you have more bikes than the policy allows, it will be necessary to purchase another policy to cover all of the motorcycles. There may be limits on cover or it may be required that all bikes on the policy have the same cover.
One disadvantage that sometimes occurs is difficulty making changes to your policy. If you replace one of your motorcycles and the new one is a different type or more powerful than the original, you may not be able to add it to your policy. If you are allowed to add it, the premium may have to be paid separately. The due date for the instalment may falls on a different date than the rest of the policy. In some cases, the renewal date is also different.
The advantages and disadvantages of multiple motorcycle insurance policies are something you should carefully consider. Once you know all the facts, you can make the decision that is best for you and your motorcycles.
