What is a motorcycle insurance?
Whether you use your motorcycle for daily commuting or just for recreational rides, you are required to insure it with a motorcycle insurance. This insurance will cover the damages you cause with your motorcycle.
The coverage of the insurance
You can insure your motorcycle with a liability-only policy (WA), a limited coverage policy (WA+), or a comprehensive policy (volledig casco). Liability-only coverage is mandatory and covers damages you cause to others (bodily injury) and to their vehicles. However, it does not cover damage to your own motorcycle. Limited coverage includes theft, burglary, storm, and fire damages, while comprehensive coverage also covers vandalism and damage caused by you.
No claim bonus
People who have not caused any damage to their motorcycles or others’ vehicles are rewarded with a premium discount called a no-claim bonus. The amount of the discount depends on the number of claim-free years and is referred to as the no-claim discount. The discount level depends on the bonus-malus system used by the insurer. If you have no claims, you climb the bonus ladder and receive more discount, while if you have claims, you move down one or more steps (malus). When you make a claim, you also lose a number of claim-free years.
Depending on the amount of damage, it is wise to calculate with an insurance advisor whether it is better to claim the damage on your insurance or pay for it yourself. In that case, you compare the damage amount with the premium increase of your motorcycle insurance.
Additional coverage for motor insurance
In addition to the basic coverage, you can choose from several additional coverages depending on the insurer where you purchase your motorcycle insurance. Some common additional coverages are:
- Personal Accident Insurance for riders (OVI): This provides a one-time payment to you and your passenger in the event of disability or death resulting from an accident.
- Passenger Liability Insurance (SVI): This covers injuries and damages to clothing and luggage of you and your passenger(s) in the event of an accident.
- No Claim Protector: This allows you to make one claim per year without raising your insurance premium, but it will reduce the number of claim-free years you have accumulated. If you switch to another insurer after making a claim, you can expect a lower no-claim bonus.
- Legal Expenses Insurance (Verhaalsrechtsbijstand): This provides legal assistance to help you recover damages or losses from a third party after an accident.
- Legal Assistance Motor Vehicles (Rechtsbijstand motorrijtuigen): This is a more extensive coverage than Legal Expenses Insurance and provides legal assistance for multiple types of legal conflicts related to your motorcycle. For example, if you are facing prosecution after a traffic violation or have a dispute with a garage where you maintain your motorcycle.
Factors that determine the premium.
The premium of a motorcycle insurance policy depends on various factors, including your age, how long you have had your driver’s license, the type of motorcycle (catalog value, power, brand, etc.), your postal code area (the four major cities where theft is more prevalent and traffic is generally busier, which increases the risk of accidents), the number of claim-free years you have accumulated, and the coverage you have chosen.
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