Motorcycle insurance policy terms and conditions.

What is the excess in the motor insurance?

The excess is a part of the damage that you have to pay for yourself. Not all insurance companies use an excess. If they do, it is often an amount up to €150. In case of a damage of €1.000 you will receive €850 based on a deductible of €150. Insurers apply an excess to discourage policyholders from claiming damages.

A higher excess for young drivers

Young drivers often pay a higher premium until they are 24 years old. Insurers do this because they cause more damage compared to older drivers. For some insurers, this is not enough. They also impose an additional excess in the policy conditions in case of damage caused by young drivers. Not all insurers do this.

The new-age insurance

For new or young motorbikes, the new-for-old rule is interesting. In case of a total loss of the motorbike, the damage is settled on the basis of the new value of the motorbike. The new-for-old value arrangement can apply for one to three years. After this period, the current value of the motorbike will be used as the basis for the claim.

 

Purchase price regulation

This is similar to the new-for-old scheme, but is aimed at second-hand motorbikes. If this scheme is included in the motorbike insurance policy according to the policy conditions, the purchase value of the motorbike will be assumed for a certain period of time. Did you buy the motorbike for €8,000? Then this value will temporarily be used instead of the current market value for the claim settlement.

Daily value of the motor

The current value is the value of the motorbike immediately before the damage. This value takes into account the age of the motorbike, but also its state of repair and, for example, its mileage. It also takes into account how well the motorbike has been maintained.

Cancellation of motor insurance

The motorbike insurance has a standard term of one year. After the first year of insurance, the policy is renewed for another year. After the first year of insurance, the insurance can be cancelled daily. Some insurers use a notice period of one month. This is allowed. When cancelling the motor insurance on the 5th of April, the insurer is allowed to terminate the insurance on the 5th of May. When selling the motorbike, the motorbike insurance can be cancelled immediately. This is logical, because there is nothing more to be insured. Also during the first year the insurance can be cancelled when selling the motorbike.

Damage control by the insurer

For damage repair, insurers use damage control. This means that you should preferably have the motorbike repaired at a repair shop designated by the insurer. They steer damage by, for example, lowering the excess if you go to the affiliated bodyshop. This phenomenon is also seen in glass repair.

Driving with alcohol at the wheel

Insurers are strict in the case of damage where the driver was under the influence of alcohol. The insurer has the right to recover the amount of the damage from the person who caused it. In a liability case, the damage to the other party is compensated. The insurer can then send the drunk driver an invoice for the damage. This type of damage recovery can involve large sums of money.

Other exclusions

In the policy conditions, there are even more situations in which there is no cover. For example, participating in speed competitions or renting out the motorbike. Also when driving the motorbike without a valid driving licence, the motorbike insurance does not provide cover.

Guarantee

In the event of a collision abroad, you may have to pay bail. In an extreme case, the motorbike may be confiscated. It is even possible that you end up in jail yourself. The motorbike will be returned to you upon payment of a deposit. The insurer will take care of this. Also if a deposit is needed to get you out of jail again.