Ultimate Guide to Selecting Sport Bike Insurance for UK Track Days: Key Factors to Consider
Understanding the Need for Sport Bike Insurance
When it comes to owning and riding a sport bike, especially for UK track days, having the right insurance is not just a necessity but a critical component of your riding experience. Sport bikes, with their high-performance engines and sleek designs, are not only a joy to ride but also come with a higher risk profile compared to standard motorcycles.
“As a sport bike owner, you need insurance you can rely on,” emphasizes Devitt Insurance, a specialist in motorcycle insurance. “Sports bike insurance can often be more expensive than standard motorcycle cover due to the powerful speeds, expensive repairs, and the fact that these bikes are attractive to thieves”.
Types of Insurance Cover Available
When selecting a sport bike insurance policy, it’s crucial to understand the various types of cover available. Here are the main types:
Comprehensive Cover
This is the most extensive type of cover and includes protection against damage to your bike, as well as third-party claims. It is the most expensive option but offers the broadest range of protection.
Third Party Fire and Theft
This policy covers damage to third-party property and injuries, as well as fire and theft of your bike. It is less expensive than comprehensive cover but still provides significant protection.
Third Party Only
This is the most basic and least expensive type of cover. It only covers damage to third-party property and injuries, but not any damage to your own bike.
“Whatever cover you’re looking for, we can help,” notes Devitt Insurance. “We offer comprehensive cover, third party fire and theft or third party only, depending on the level of protection you need”.
Factors Affecting Your Insurance Premium
Several factors can influence the cost of your sport bike insurance premium. Here are some key considerations:
Bike Specifications
The make, model, and year of your bike can significantly impact your premium. High-performance bikes and those with expensive parts will generally cost more to insure.
Security Measures
Using approved security systems such as chains, locks, anchors, tracking devices, alarms, and immobilizers can help reduce your premium. “Keeping your bike locked securely overnight in a garage at your home address is also well regarded by insurers,” advises Devitt Insurance.
Riding Experience and Training
Completing advanced riding courses, such as those offered by BikeSafe, RoSPA, IAM, or the Enhanced Rider Scheme (ERS), can demonstrate to insurers that you are a safe rider, thereby reducing your premium.
Mileage and Usage
Lower mileage and restricted usage can also help in reducing your insurance costs. For example, if you only use your bike for track days and not for daily commuting, this could be reflected in a lower premium.
Additional Modifications
Adding performance-enhancing modifications to your bike can increase your premium. It’s advisable to keep such modifications to a minimum if you’re looking to save on insurance costs.
Additional Extras and Protections
In addition to the basic cover, there are several extra protections you can consider to enhance your insurance policy:
Personal Accident Cover
This provides financial protection in the event of an accident, including coverage for injuries and medical expenses.
Excess Protect
This can help lower your premiums by protecting you against excess payments in the event of a claim.
RAC Breakdown Cover
This ensures you have assistance if your bike breaks down, which can be particularly useful during track days.
Legal Expenses Cover
This covers legal costs associated with making a claim or defending against one.
Here is a detailed list of additional extras you might consider:
- Personal Accident Cover: Provides financial protection for injuries and medical expenses.
- Excess Protect: Helps lower premiums by protecting against excess payments.
- RAC Breakdown Cover: Offers assistance if your bike breaks down.
- Legal Expenses Cover: Covers legal costs associated with making or defending a claim.
- Helmet and Leathers Protection: Covers damage to your riding gear in the event of an accident.
- Approved Locks and Security Devices: Discounts for using approved security measures.
“Being a new rider, you may want to take extra protection on top of your basic cover. Devitt has a wide range of additional policies and products for further protection and peace of mind,” suggests Devitt Insurance.
How to Get the Best Insurance Quote
To get the best insurance quote for your sport bike, follow these steps:
Compare Quotes
Use insurance comparison services to get quotes from multiple insurers. Companies like Devitt Insurance compare prices from leading UK motorbike insurers to find the best policy for you.
Provide Accurate Information
Ensure you provide all necessary information accurately, including the make and model of your bike, your location, occupation, mileage, and security details.
Use Online Tools
Many insurance companies offer online quote tools that can give you an instant quote. “You can get an instant quote online or call one of our friendly insurance advisors who can help you find the perfect policy and give you a quote over the phone,” advises Devitt Insurance.
Consult with Insurance Advisors
If you’re unsure about the best policy for your needs, consulting with insurance advisors can provide valuable insights and help you make an informed decision.
Here is an example of the information you might need to provide:
- Bike Details: Make, model, year, and any modifications.
- Personal Details: Your location, occupation, and riding experience.
- Usage Details: Mileage, usage type (e.g., track days only), and storage conditions.
- Security Details: Types of locks, alarms, and other security measures used.
Table: Comparing Key Insurance Policies
Here is a comparative table to help you understand the different aspects of various insurance policies:
| Insurance Type | Comprehensive | Third Party Fire and Theft | Third Party Only |
|---|---|---|---|
| Coverage | Full coverage for your bike, third-party claims, fire, and theft | Third-party claims, fire, and theft | Third-party claims only |
| Cost | Most expensive | Less expensive than comprehensive | Least expensive |
| Security Discounts | Available | Available | Available |
| Riding Course Discounts | Available | Available | Available |
| Breakdown Cover | Optional | Optional | Optional |
| Legal Expenses Cover | Optional | Optional | Optional |
| Personal Accident Cover | Optional | Optional | Optional |
Real-Life Scenarios and Practical Advice
Scenario: New Rider on a High-Performance Bike
If you’re a new rider considering a high-performance sport bike for track days, here’s some practical advice:
- Start with Lower CC Machines: It’s advisable to start with less powerful bikes to build your experience before moving to high-performance models.
- Take Advanced Riding Courses: Completing courses like BikeSafe or RoSPA can significantly reduce your premium and make you a safer rider.
- Use Approved Security Measures: Always use approved locks, alarms, and immobilizers to secure your bike.
“Being a new rider doesn’t mean you’re an unsafe rider, but there are plenty of ways to keep your first year’s premium down,” advises Devitt Insurance. “Take a look at advanced riding courses and use additional security measures to reduce your costs”.
Scenario: Customizing Your Bike
If you plan to customize your sport bike with performance-enhancing modifications, here’s what you need to know:
- Inform Your Insurer: Always inform your insurer about any modifications to ensure you remain covered.
- Avoid Excessive Modifications: Keep modifications to a minimum to avoid significant increases in your premium.
“Adding performance-enhancing modifications can increase costs even further, so try and keep these to a minimum if possible,” suggests Devitt Insurance.
Selecting the right sport bike insurance for UK track days involves careful consideration of several key factors. From understanding the types of cover available to considering additional extras and protections, it’s crucial to make an informed decision that meets your specific needs.
“Owning a sports motorbike can be an expensive hobby, but there are certain things you can do to help lower your premium,” notes Devitt Insurance. By following the tips and advice outlined in this guide, you can ensure you have the right insurance policy to enjoy your track days with peace of mind.
Remember, the right insurance policy is not just about protecting your bike; it’s also about protecting yourself and your financial well-being in the event of an accident or other unforeseen circumstances. Always make sure to compare quotes, provide accurate information, and consult with insurance advisors to get the best possible policy for your sport bike.
