50cc motorbike insurance premiums tend to be a lot lower than motorbikes with bigger engines. Insurance companies believe that if you drive slowly you are less likely to crash and if you do it is far less likely to be fatal. This is one of the main attractions of 50cc motorbikes, particularly for young bike riders who are often victimised by insurance companies and made to pay large premiums based on nothing other than their ages.
When purchasing insurance of any type it’s important to make sure your comparing like with like, so you’ll have to read the small print! Insurance policies can change quite dramatically between different insurers and motorbike insurers are no different. Below are the main variables in your average motorbike insurance policy and a brief explanation of how it may affect you:
- Mileage – Some insurance policies will put a limit on the number of miles you are able to do in a year. This can range between 1,000 – 20,000. If you think your not going to ride your bike very much then mention this to your insurance company and you might be able to et a discount on your premium.
- Excess – The excess is a figure that you will have to contribute towards any insurance claim before your insurance company payout. For example, if you had an excess of £300 and you made an insurance claim of £500, your insurance company would only pay the difference between the two figures i.e. £200 in this case. The lower the excess the better, but you will have to pay extra for this privilege.
These are just two of the many ways that two insurance policies could differ, so bare this in mind if you receive two quotes that are vastly different. It’s not always best to go for the cheapest as it may end up costing you a lot more in the long run
