Bike Insurance - ABI launches new principles for insurance policy

The Association of British Insurers, (ABI) have launched new principles which will enable policy holders adequate protection and enhanced risk based supervision, it has been revealed.

Motorbike insurance customers would like to know that ABI are more determined to provide enhanced protection for motorbike insurance holders as the insurance industry remains stable despite the instability of the current economic climate.

ABI had reported the key principles following the International Association of Insurance Supervisors’ annual meeting, last week.

General Director, Stephen Haddrill of ABI insisted that the scheme will consider several key principles to deal with current economic situation as fears that the financial crisis affecting the motorbike insurance industry grows.

The director said “These are difficult market conditions, but the insurance industry stands ready to work with the supervisory authorities around these principles as we believe that the maintenance and strengthening of them is the best basis for protecting policyholders on an ongoing basis.”

Haddrill also confirmed that the insurance industry is in a strong position regardless of the current financial downturn of the UK economy, after the Motor Cycle Industry Association (MCI) announced that bike sales had also been trying to beat the crisis.

Meanwhile, motorists are being urged to keep a look out for pedestrians as more people walk along Britain’s roads wearing earphones. A recent report by car insurance retailer, Swinton Insurance revealed that it has seen a significant increase in the number of accidents on insurance forms regarding ‘podestrians’ walking into the road wearing earphones.

Insurer Development Manager, Steve Chelton of Swinton Insurance said: “When an absence of vehicle noise is combined with the visual distraction of texting you end up with a podestrian that’s even more ignorant to oncoming traffic. This greatly increases the likelihood of them causing an accident.”

Source:http://www.onlyfinance.com/Bike-Insurance-News

Bike Insurance - British cycling has new partner -

British cycling has found a new partner in insurance, which means for those who are members of the organisation, exclusive bike insurance. The new form of cover is called BC Bike insurance, if you are wondering where you can locate this cover to purchase it you will find the cover at www.bcbikeinsurance.co.uk , additionally you will also be able to find out much more information about the product. You will also be happy to know that it is £10 cheaper if the policy is acquired online.

Claire Rollinson: membership services manager said “We have negotiated what we believe is a great deal for members, with flexible cover options. This means that you can tailor your cover to your exact needs and therefore don’t pay for unnecessary extras.”

Areas that are covered include protection against theft, loss as well as accidental damage to the figure of £5,000. There is also a Multibike discount of about 15%. Also includes bicycle hire until your bike is either repaired or replaced.


Source: http://www.onlyfinance.com/Bike-Insurance-News

Bike Insurance - Bike prices set to increase in 2009

Motorbike prices, are expected to increase in 2009, according to manufacturers. With the cost of materials such as aluminium and steel, along with shipping fees all on the increase, the price of a bike will be set to rise drastically. The increased prices is also expected to remain at a higher level in 2010, according to a spokesperson from the Retail Motor Industry Federation. This is due to the fact that, the materials, used for the production of motorbikes, will be those that have increased in price.

Moreover, the weakening pound against the euro and the present credit crunch, have also played a part towards the increase in the price of motorbikes. A spokesman from Ducati, the Italian motorbike manufacturer, said: "The main selling season has been and gone and obviously the credit crunch is going to now have an impact. Just look at the retail shops announcing drops in sales." Motorists, who are considering whether to buy a bike, have been advised to do so sooner, rather than later, before the price increase sets in. Also they should ensure that they have adequate motorcycle insurance to cover their bikes.

news source : http://www.onlyfinance.com/

Bike Insurance - More calls for secure parking

Motorcycle insurance specialist, Carole Nash, has called on employers to provide secure parking for mopeds and motorcycles. The insurer was echoing sentiments by the Motorcycle Industries Association who urged British employers to avail secure parking for mopeds and motorcycles. Earlier in the year, the insurance company called for local authorities to provide more public secure bike parks. Carol Nash supported the call by MCIA saying as a project, it would be environmentally friendly and economically viable.

Carole Nash’s managing director, David Newman said: “The MCIA reports moped sales are soaring and biking is generally becoming more popular, no doubt as a result of fast escalating fuel costs, ever increasing congestion and lacklustre public transport provision.” He added: “Despite this little is being done by employers and local authorities to satisfy the increased demand for secure parking. Given the huge cost to the economy of congestion and the growing personal cost of car use this seems ridiculous.” According to Mr. Newman, bikes needed specific security measures because of their portability and the high spares value of top end models.

He further added that the company’s annual motorcycle theft survey, which looks at all bike insurance claims received from among the company’s 230,000 motorbike insurance policyholders, constantly demonstrated that the bikers most at risk were in urbanised areas.

news source : http://www.onlyfinance.com/

Bike Insurance - Bikers in Peterborough without insurance coverage

According to research uncovered by the website motorcycles direct, Bike riders in the area of Peterborough are riding on the road in that particular region without having adequate bike insurance. The figures that were extracted by the Motor Insurers Bureau, illustrates that for every 20 riders in the area, one does not possess a rider insurance policy.

All in all it is believed that this rounds off to the equivalent of 5% of the 123,134 bikes on the road, not having any cover whatsoever. As if that was not worrying enough, about 1,125 accidents on highways in Cambridgeshire, were involving riders who did not have any bike coverage.

This will potentially affect those riders searching for insurance coverage in the near future, as insurers will automatically identify them as high risk and increase premiums as a result. A police spokesperson had this to say on the subject matter “We will continue our robust enforcement of the law, seizing any vehicles we find being driven illegally.”

news source : http://www.onlyfinance.com/

Bike Insurance - Mini bike riders urged to drive carefully

Police are increasingly cracking down on nuisance bike riders and have called on both riders and parents to help in preventing the escalation of reckless and illegal biking. Many riders of mini bikes were recently caught at the wrong side of the law and had their bikes confiscated and even crushed.

They are being reminded to ensure they drive safely and within the bounds of the law. In Warwickshire, for example, police are getting more concerned about the dangers posed by irresponsible bikers to both themselves and the general public. They have, against this backdrop, confiscated at least 135 motorcycles that were either driven illegally or abandoned.

Commenting on the situation, police sergeant Charles Harrison said some parents were aware that their children were inappropriately riding bikes on the roads and public places. “They are happy for the bikes to be kept at home and ridden by their children without crash helmets, protective equipments or the appropriate documentation,” he added. But he advised parents to ponder the risks involved in riding bikes illegally, warning that they could face the wrath of law for riding without bike insurance, a licence and crash helmets in public places.

news source : http://www.onlyfinance.com/

On The Right Track To Cheaper Quad Bike Insurance

Quad biking is growing in popularity. It combines the exhilarating, high-adrenalin rush of extreme sports with a fantastic way to experience the countryside both on- and off-road. Prices of quad bikes and coming down putting them within reach of more and more people, butinsurance on these machines does tend to be expensive and riders can end up paying over the top unless they consult a specialist insurance broker.

Bikesure, is an established expert in the field of motorbike insurance and has launched a dedicated section – Quadsure to look after quad insurance. Bikesure has access to a wide variety of quad bike insurance schemes that can be tailored to suit each individual quad biker and each individual quad bike.

Quadsure covers leisure quads, sports quads, utility quads, ATV and buggy models. As a specialist broker Quadsure can offer cheap quadinsurance whether the quad is used for off-road adventuring, farm working or trail riding. Even bikers with zero no-claims bonus, motoring convictions or criminal convictions can be offered competitive quotes.

All policies offer £50,000 of legal cover free of charge, but there are also low-cost options of personal injury cover, comprehensive breakdown cover with home-start and protective clothing and helmetinsurance. Quads that are used solely for off-road riding can be covered against fire and theft. As with other Bikesure insurance policies, Quadsure can offer extra discounts for security precautions and riding experience. Female quad bikers also qualify for extra discount.

Quadsure has an online quote and buy system that displays several available quotes for customers to choose from, however, most people will get the best deal if they ring Quadsure and speak to one of their highly trained underwriters. As specialists within the quad bikeinsurance industry they can apply a whole range of extra discounts that may not show up on the computer system.

Bikesure is 100% British owned and based. It has a huge range of specialist policies for the motorcycle enthusiast, including cheap bike insurance schemes for performance and custom bikes, scooters, trikes, quads and bug riders. For details freephone the Bikesure quote line on 0800 089 2000, email the company at bikesure @ adrianflux.co.uk or visit www.bikesure.co.uk

news source : http://news.yahoo.com/