Car Insurance vs Motorcycle Insurance
You’ve been dreaming about it since you were a kid. The feeling of wind in your hair and the sense of freedom that only cruising along the winding mountain roads on a bike can bring. You’ve decided that you’re going to get yourself a motorcycle. Now is the time to live out your ‘easy rider’ lifestyle fantasy.
After countless hours of research, you’ve finally picked the perfect model and are reader to head to the dealer and become the proud owner of your new (two) wheels. But this is only the beginning.
There are a few more things to think about before hopping onto your new bike. Insurance is one of them. When you’re getting on the South African roads, whether it’s in a car or on a motorcycle, you’re going to need insurance. It’s just one of those things in life that you don’t want to risk getting caught without.
You’re probably already pretty clued up about what car insurance entails and while there are a few similarities between car and motorcycle insurance, there are also a few differences. The nature of motorcycles makes certain types of coverage more essential than others.
Similarities between car insurance and motorcycle insurance
The basic cover remains the same. Both car and motorcycle insurance will cover you for theft as well as accidental damage to your vehicle/motorcycle as well as third-party cover. You’re also insured if your bike or car is damaged in a fire or flood, or if any accessories are stolen along with the car/bike.
How your premiums are calculated
When calculating your insurance premium, the same factors are looked at for both insurance options.
Type of bike/car you are driving – the bigger, shinier and faster, the higher the premium.
Cost of the bike/car - the more expensive, the higher the premium.
Where you live – the cost of cover for your bike/car will increase if you reside and travel in an area with a greater possibility of accidents and theft.
Your security measures – whether you’re parking your vehicle in a locked garage and have any other security measures in place.
The drivers of the bike/car – including the number of drivers, the age and genders of the drivers and the number of years the drivers have had their licence.
The amount of time you plan on riding your bike/driving your car – is the car/bike just your Sunday-drive wheels or will it be used on a daily basis as your main source of transport.
The type of coverage you are looking to purchase – comprehensive vs basic cover.
As with any type of vehicle, the type of insurance that you get will change the rates. You, of course, need to figure out what coverage gives you peace of mind as well as fits into your budget.
Like most insurance packages, there will always be added extras that you can add onto your policy, like Hail Cover or Scratch & Dent Cover. And with Dialdirect, both policies include access to our Assist Benefits which includes roadside and towing assistance. All handy benefits to have when you’re out on the road.
Differences between car insurance and motorcycle insurance
Apart from their number of wheels, there are a few differences between cars and motorcycles. While both come with their own set of risks, motorcycles tend to carry a higher risk.
Skipping the morning rush hour, finding good parking spots and enjoying the open road on your Sunday morning ride are some of the benefits of riding a motorcycle. But you also can’t ignore the higher risk that comes with riding a bike, especially on the busy South African roads. If the unfortunate happens and you get into an accident, your chances of injury are much higher if you were on a bike than in a car. The damage and chance of a ‘write-off’ is also much higher on a bike.
These all impact your insurance premiums.
While a motorcycle will generally cost less than a car to buy, when you start looking at insurance it’s usually the opposite. Motorcycle insurance is often more expensive than car insurance, mostly because motorcyclists are at a higher risk of having an accident. Meaning, a higher risk of making a claim.
It’s not all bad news though, your motorbike insurance premium will likely go down if you have an inexpensive motorcycle and if you have a good riding record. Sports bikes on the other hand…will come with a higher premium.
Remember, motorcycles have many different types of engines. The more powerful the engine you are riding on, the higher your insurance premiums are going to be.
There’s also a few different add-on’s that come with motorcycle insurance. Motorcyclists usually also have options like transport trailer coverage and coverage for custom accessories, parts, and equipment like chrome and saddlebags.
Finding insurance partners
It’s pretty easy to find car insurance quotes. A simple Google search will bring up loads of options for insurance partners to get cover with. Motorcycle cover on the other hand isn’t as common. Not all insurance providers offer both car and motorcycle insurance – which could mean more admin for you if you already have car insurance with a provider that doesn’t also offer motorcycle insurance.
At Dialdirect, we offer both Car Insurance and Motorcycle Insurance – removing the admin of having to sign up with another insurer. One monthly debit order. And one contact to answer all your insurance questions and queries. It can’t really get any simpler.
As you can see, not all vehicle insurance is the same. While car and motorcycle coverage share many similarities, don’t make the mistake of assuming that they’re the same. And don’t make the mistake of thinking that you don’t need both. Anyone owning and riding a motorcycle, whether it’s for getting around town or for taking long country drives, should have insurance cover.
Before buying your new bike, make sure to look into Motorcycle Insurance and get a few quotes for different types of bikes – just to know what is in your price range. You don’t want to get caught with unexpected costs after you’ve readily left the dealers floor.