The Types and Coverage of Motorcycle Insurance

If you own a motorcycle, securing good insurance for you and your bike shouldn’t be taken for granted. And take note, these are only a few of the many insurances that you can choose from. But let’s start with the basics: there is third-party insurance, classic and old vehicle insurance, and comprehensive motorcycle insurance.

The Types and Coverage of Motorcycle Insurance

Third-Party Insurance (property insurance) – This type of motorcycle insurance only covers the person or persons you have caused damage to and their property or vehicle. It does not cover your insurance as well as your motorcycle.

If you are ACT registered, it is mandatory to provide third-party insurance for people and property that you might damage while driving your bike.

Classic Insurance

Avail of this type of insurance if you have a motorbike that is not less than a decade old. This is ideal for bike owners who only use their motorcycle occasionally like a hobby or club.

Comprehensive Insurance

Comprehensive insurance offers overall coverage for you. That includes covering the damage you might cause to other people’s property or vehicle, and covering your bike insurance as well. You can also avail any of this insurance if you own a scooter.

Most of the time riders tend to have the comprehensive type of insurance. You can choose any amount of coverage you like. It all depends on your preferences and the money you can shell out for your protection.

Comprehensive insurance coverage

Most probably, the company where you got registered will pay the cost of the accident. This includes but is not limited to; repairing properties and your bike, offering you a payout based on the market value and the price you have agreed on for your motorcycle. It offers a protective policy for other costs, it will also cover the expenses of replacing or repairing locks.

The liability that the comprehensive motorcycle insurance package offers will include wide coverage for both you and the people involved in the accident. Included are the following:

Cost of damages and payouts
Legal costs
Cost to your employer
Wage lost
Medical cost

Coverage of Motorcycle Insurance


Not only accidents, but comprehensive plans also cover other forms of property damage such as thefts, limited replacement of parts when it needs one, towing, and even natural disasters.

The only drawback is that most insurance companies will not honor your insurance if the accident or the damage happened outside of the country. They will not cover mechanical failure as well.

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