Introduction
Quad bike insurance is a big part of owning a quad bike. With so many different types of insurance, it can be difficult to understand what you need and how much it costs. The following 5 types of quad bike insurance will give you an overview of the main parts and what they cover as well as some tips on how to find and choose the right insurance for you.
Quad bike insurance is a topic that many new quad bike owners need to know. It's important to be sure you have the right insurance. But up until now, it has been a bit of a minefield when it comes to finding the right form of cover.
1. Third Party Insurance
2. Third Party Fire and Theft Insurance
3. Comprehensive Insurance
4. Public Liability Insurance
5. Legal Cover
Third Party Insurance
Third party insurance is insurance that covers you and your bike if the other driver is at fault. The type of coverage that's important here depends on whether you're going to be in an accident with a car or truck, or with another biker. If you're riding as part of a group ride, then your own third party policy will cover any injuries to other riders. But if you're going solo, then it's very important that you also have coverage from your own policy.
The best way to get third party insurance is through your home insurer — even if you don't have a car. Your home insurer usually has bespoke policies for motorcycles and can add them onto your existing policy without too much hassle.
Third Party Fire and Theft Insurance
Third Party Fire and Theft Insurance
This insurance covers the cost of replacing damaged or stolen property that's not covered by your bike insurance policy. It also pays for medical expenses, funeral costs and legal fees associated with a claim. Some companies offer this optional level of coverage at an additional cost; others require it to be purchased as part of your policy.
Third
Party Property Damage Liability
This is similar to third-party fire insurance in that it provides protection against damage to other people's property in the event of an accident. However, this policy does not pay for damage caused by you or your passengers on the vehicle, so it can be useful when you travel with friends or family members who aren't covered under your own personal cover.
Comprehensive Insurance
Most quad bikes are used for short distances and not for long periods of time. With this in mind, it becomes essential to purchase comprehensive insurance for your quad bike.
Comprehensive Insurance will provide you with coverage for any damage caused by accidents or theft, regardless of where you live or where the incident took place. You will also be covered if your quad bike is stolen.
The premium charged for Comprehensive Insurance will be based on the value of your quad bike, the type of cover that you choose and the number of kilometres travelled per year in a specific area.
Public Liability Insurance
Public liability insurance is a type of insurance that covers you and your passengers if you or they are injured or killed while riding your quad bike. This kind of coverage offers peace of mind when you're out on the road, as well as protection if you're sued for compensation.
Public
liability can come in two forms:
Professional Indemnity (PI) – This form of coverage works like professional indemnity (PI) policies, which cover professionals or contractors who cause an accident while working on behalf of another party. Professional indemnity policies typically cost more than public liability policies, but they offer more comprehensive coverage than other types of public liability insurers.
General Public Liability (GPL) – This type of policy covers non-professional parties for their own injuries or those caused by their negligence during an accident involving a vehicle registered with the government's Department of Motor Vehicles.
Legal Cover by Quad Bike Insurance
Legal Cover by Quad Bike Insurance
Legal cover is mandatory for every quad bike rider, as it can protect you from any legal action that may arise from an accident. Legal liabilities are not just limited to the rider, but also to third parties involved in an accident.
At Martins Insurance Brokers, we offer a range of legal cover options that include:
Personal Injury Protection (PIP) – this covers medical expenses, lost wages and loss of earnings incurred by you and your family members.
Uninsured Motorist Coverage – this protects you against bodily injury caused by an uninsured driver who causes an accident while driving without insurance coverage.
Collision Damage Waiver (CDW) – this insures the vehicle for damage that occurs during an accident. The CDW will cover up to $100,000 per person in bodily injury and up to $300,000 per accident in property damage.
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