What is multi bike insurance?

Christmas and New Year is a period when some of us are not only starting to think longingly about next year’s summer holidays but also when we traditionally take stock of our financial position for the coming year. If you are lucky enough to own several motorcycles, you may wish to take this opportunity to think about multi bike insurance.

Of course, to do so you may need to know a little bit about the principles behind this form of motorbike cover:

• multi bike insurance, as the name suggests, relates to motorcycle policies that provide insurance for multiple bikes;
• some policies may set the minimum number of bikes to be covered at 2, 3, or 4;
• one of the conceptual advantages of this type or insurance is that it recognises that you are typically only likely to be able to ride one of your machines at a time, therefore, you may find that you will not be paying for multiple, simultaneous, on-the-road risk cover;
• what that may mean is that typically, multi bike insurance may prove to be more cost-effective than paying for several individual motorcycle insurance policies on the basis of one-per-bike:
• if you do own multiple machines (note that if you are a dealer or motorcycle professional you may need a different form of cover) your insurance policy may ask that you behave responsibly and adopt certain commonsense practices relating to things such as security;
• the policies may require that your bikes, when not in use, are stored in a secure and locked location, such as your garage;
• some motorcycle insurance policies may require that those premises are equipped with and protected by, additional security such as burglar alarms, while others may simply offer you incentives through premium discounts for so doing;
• as you may expect, the cost of motorcycle insurance quotes for multiple bikes may be influenced by a number of traditional factors, including how many bikes you own, what type of machines they are, their individual and total values plus attributes of your own background, such as how long you have held your licence, whether or not you have driving convictions and so on;
• if any of your bikes come into the category of being vintage or classic machines, your insurance provider may be able to advise you on a combination of multi bike and classic motorcycle cover;
• so, if you do have a collection of motorcycles and would like to insure them on a cost-effective basis, it may be worth making further inquiries relating to multi bike insurance.