Motorcycle insurance policy terms and conditions.

What is the deductible in motorcycle insurance?

The deductible is a portion of the damage you keep at your own expense. Not all insurers use a deductible. If they do, it is often an amount up to €150. For a damage of €1,000, you will be paid €850 assuming a deductible of €150. Insurers use deductibles to discourage policyholders from claiming.

A higher deductible for young drivers

Young drivers often pay a higher premium until they are 24 years old. Insurers do this because they do more damage compared to older drivers. For some insurers, this does not go far enough. They also set an additional deductible in the policy terms in case damage is caused by young drivers. Not all insurers do this.

The new-for-old scheme

For new or young motorcycles, the new-for-old scheme is interesting. If the motorcycle is totaled, the claim is settled based on the new-for-old value of the motorcycle. The new-for-old value rule can apply for one to three years. After this period, the current market value of the motorcycle is used as the basis for the claim.

Acquisition Value Scheme

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

Daily value of the motorcycle

The daily value is the value of the motorcycle just before the damage. This value takes into account the age of the motorcycle, as well as its state of repair and mileage, for example. It also takes into account how well the motorcycle has been maintained.

Canceling motorcycle insurance

Motorcycle insurance has a standard term of one year. After the first year of insurance, the insurance is renewed again for one 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 canceling the motorcycle insurance on April 5, the insurer may terminate the insurance as of May 5. When selling the motorcycle, the motorcycle insurance can be cancelled immediately. Also logical, since there is nothing left to insure. Also during the first year the insurance can be cancelled when selling the motorcycle.

Claims management by the insurer

For damage repairs, insurers use claims steering. This means that you prefer to have the engine repaired at a repair shop designated by the insurer. They do damage control by, for example, lowering the deductible if you go to an affiliated bodyshop. This phenomenon is also seen in glass repair.

Getting behind the wheel with alcohol

Insurers are strict about damages where the driver was under the influence of alcohol. The insurer has the right to recover the damage amount from the party causing the damage. In a liability case, however, the other party is compensated for the damage. The insurer may then send the inebriated party responsible for the loss a bill for the damages. These types of recovery claims can involve large sums of money.

Other exclusions

There are other situations named in the policy conditions where there is no coverage. These include, for example, participating in speed contests or renting out the motorcycle. Motorcycle insurance also does not provide coverage when riding the motorcycle without a valid driver's license.

Deposit

In a collision abroad, you may face bail. In an extreme case, the motorcycle may be confiscated. You may even end up in jail yourself. You get the motorcycle back on payment of bail. This is taken care of by the insurer. Even if bail is needed to get you out of jail again.