Why Should You Have Gap Insurance for Your Motorbike?

Purchasing Gap Insurance for your motorcycle could be one of the cleverest things that you ever buy. Not many people realise that motor insurance is not the be all and end all and if you love embracing the open roads on your motorcycle, you are exposed to accidents. Motorcycles are also unfortunately a lot easier than cars to steal and so they are constantly at risk from thieves. If you were ever in the unfortunate event of having your motorcycle written off or stolen, then your motor insurance would only ever grant you with the amount your motorcycle is worth on this day. Due to depreciation, which starts as soon as you drive your bike away from the showroom, this motor insurance valuation is likely to be a significant amount less than the amount you originally paid.

This is exactly where shortfall Insurance comes in for you and your motorcycle.

Depending on which type of Gap Insurance you opt for, you can either, along with your motor insurance valuation, clear any outstanding finance you may have on an agreement, protect the invoice price that you paid for your motorcycle, or gain the amount necessary to be able to purchase another motorcycle, the same standard, specification, mileage etc as yours originally was.

Finance Shortfall Insurance for your motorcycle?

This type of protection will quite simply pay the difference between your motor insurance valuation on the day your bike is written off or stolen and clear any outstanding finance you may have on an agreement. This leaves you in the same position as you were before you acquired your motorcycle. It would certainly not be ideal, after going through the ordeal of an accident or being the subject of vehicle theft, to then have to find money to repay a finance company, who legally are able to demand any outstanding payments within 28 days. This will leave you to walk away with no financial liability.

Return to Invoice Gap Insurance for your motorcycle?

Return to Invoice Gap cover, along with your motor insurance valuation, will return you back to the original invoice price that you paid for your bike. For example, if you paid £8,000, three years later your bike was stolen and was now worth £4,000, then Return to Invoice Gap Insurance would top up this valuation with the £4,000 necessary to take you back to the original invoice price. This leaves you able to clear any outstanding finance if necessary and able to look around for a new bike and focus on the more important things like gaining your confidence back.

Vehicle Replacement Gap Insurance for your motorcycle?

As you are more than likely aware, motorcycles are constantly changing and with your favourite manufacturer’s constantly improving specifications to rival their competitors, it is almost a certainty that costs are going to increase. Therefore if your bike is stolen or is written off, just gaining your original invoice price back may not be enough for you to be able to purchase the same standard of motorcycle again. Vehicle Replacement Gap Insurance will top up your motor insurance valuation with the amount necessary to be able to purchase the same standard of vehicle again, same age, mileage etc, as yours originally was. You are now able to clear any outstanding finance if necessary and do with your funds what you see fit, whether that is to purchase the same motorcycle again, or something completely different altogether.

With some online providers offering prices up to 90 % less than main dealerships is worth taking the risk of not having Gap Insurance. Shortfall cover could literally save you thousands of pounds if the worst was to happen and can take the financial strain off your shoulders, so instead you are left with choices and not worrying about how you are going to repay your finance company, or purchase a new bike. Call today and speak to a professional and efficient adviser who can offer advise on the smallest query or help you with which Gap Insurance is right for you and your situation.

Must Know Garage Liability Insurance Information

Are you familiar with garage liability insurance? Depending on the type of business that you’re involved with, than you already may have come across it before. If not, then you may be surprised to learn that there’s more to it than meets the eye. In this guide, we’ll take a look at this form of commercial insurance, who needs it, and how and why it’s a necessity.

One of the first points to consider is that this is a more widespread or common form of insurance than you may imagine. There are many different types of businesses and industries where this is either required or recommended.

This begins with automobile dealerships. Auto dealers are required to carry numerous forms of commercial insurance, such as dealer bonds, as well as garage liability. With the latter, business owners are essentially covered in the combined areas of general liability and automotive insurance. In other words, they’re protected against bodily injury and property damage as a result of a vehicle accident.

Beyond the world of automobile dealerships, as we mentioned, there are also many other businesses which are served by garage liability coverage. This list includes essentially any type of business where a customer’s or client’s car may be left on-site, and either moved or serviced by the business. In practice, this list includes everything from valet services and parking garages to quick lube and tire change facilities, auto repair and body shops, car washes, and so forth.

What this does not cover is what’s separately known as “garagekeepers” insurance. This portion of the puzzle is what protects your business against any actual damage to the vehicle itself. You don’t want to fall into the trap of believing that you are already protected against this only to find out at the worst time that you’re actually not covered. It’s any business owner’s nightmare.

Another important note to remember is that the specific requirements for garage liability will vary from state to state. In a state such as Florida, different automobile dealer licenses have different minimum coverage levels, for instance. In depends on the type of license you’re carrying, and this type of stipulation is common in other states across the country as well.

Of course, it’s always essential to work with an experienced, licensed insurance professional in your state or local area. He or she will be familiar with the local regulations and requirements, and should be able to help you smoothly navigate the matter while finding the right deal and the right policy.

Excuses to Not Have Insurance

Have you ever wondered what goes through the minds of individuals who have a car but no car insurance? Do you ever let someone else drive your car? Have you ever wondered while driving if the person next to you has car Insurance? I think about it all the time. The truth is that there’s no real way to ever know who has insurance and who doesn’t have insurance until something drastic happens. I want to talk about some of the myths that I have heard either in person, on the radio driving or in court. Yes, I said court. You would be surprised of the responses someone gives a judge regarding not having car insurance.

One of the top excuses to not have car insurance is the mindset of not getting caught. If you have been in the car with someone without insurance you can normally tell by the way they’re driving. They are constantly looking in the mirrors, slowing down to avoid attention when they see a police car. As a car owner you should know that most states require drivers to have the states minimums for bodily injury and liability coverage to drive legally.

Another excuse is that their car is a piece of junk so no insurance is needed. Well, rather you think your car is junk or not they realize it or not the car gets you from one place to another. So, protecting your car is worth it. After all, working hard to purchase the car should give you the desire to preserve it? Just imagine your life without it. At the same time all vehicles require insurance no matter the condition.

You might hear someone say I have my own medical insurance and that should be enough to protect me if I get hurt. Personal insurance and car insurance are separate entities. If you think about it most people take out the bare amount of coverage on their jobs due to price. Do you realize when you’re in a car accident there are other cost involved? Will your work insurance pay for the ambulance expenses? These expenses can add up if there’s more than one car involved in the collision and it’s your fault. If you know you have the bare amount of coverage go ahead and get a quote for insurance that offers medical. That will give you one less thing to worry about.

I will never get sued is another saying people think is a reason to not have coverage for their cars. We live in a lawsuit happy society. People will sue you over the smallest of things and win because the either know the law or have a great lawyer. I learned from a popular movie that with the legal system that it’s not about what the crime is but rather what you can prove.

I got luck on my side. I can tell you right now that luck has nothing to do with someone wanting to steal, vandalized, or damaged your car. What happens if a storm comes and damages the car? Who pays for it? Can you afford to pay out-of-pocket expenses? Don’t risk the losses.

At the end of the day having a piece of mind is what comes when you’re covered. Great auto car insurance with a quality policy protects you against whatever may happen to you on the road.