Does the style of bike you ride alter your insurance premium?

Does the style of bike you ride alter your insurance premium?

Whether you’ve made a few tweaks here and there or overhauled your bike completely, your changes could affect the cost of insurance. But not all alterations will have the same impact on what you pay – here’s what’s good to know about modified motorcycle insurance.

What counts as a modification on a motorbike?

Any change made to your bike after it left the factory counts as a modification. It really doesn’t matter how small those changes are. For instance, even tail tidies and decals will count as modifications.

Do I have to tell my insurer about motorcycle modifications?

The short answer is yes, you should always tell your insurer about any changes you’ve made to your motorcycle. That said, some insurers have a list of ‘standard modifications’ but it’s always best to speak with your insurance company to be sure they comply with the list.

These standard mods vary by insurer but tend to include popular changes, including:

  • Alterations to accommodate disability
  • Tail tidies
  • Decals
  • Braided hoses
  • Seat replacements and seat cowls
  • Tank pads
  • Grips and heated grips

Remember that not all insurers will have a list of accepted modifications and if they do, the list is likely to vary by insurer. So, with that in mind, it’s always a good idea to double check whether there’s an acceptable modifications list in the first place and then review what’s actually on it.

Not telling your insurer about modifications counts as non-disclosure and it can end up with your insurer voiding and cancelling your policy. This will mean you won’t get any compensation if you make a claim.

What’s more, if your policy is cancelled for non-disclosure, it could mean you struggle to find cover in the future as it’s something you’ll usually need to declare.

Do all insurers offer modified motorcycle insurance?

No, not all mainstream insurers will offer modified motorcycle insurance. So, depending on what your bike modifications are, you may need to consider a specialist motorbike insurer, particularly if you’ve got a custom bike. Not only will a specialist have the experience to know exactly what you need, you’ll usually be able to set an agreed value for your bike.

What’s an agreed value?

An agreed value is the amount you and your insurer both agree your motorbike is worth. If your motorbike was declared a write-off, your insurer would indemnify you with the agreed value rather than the market value of your bike (which could be much lower).

These types of policies tend to cost a little more than a standard policy from a mainstream insurer, but it means you’ll be reimbursed with a figure that reflects the time and money you’ve spent customising your bike.

Does a modified moped or motorbike affect insurance costs?

This really depends on the insurer and the modifications you’ve made. Generally speaking, if those modifications increase the value, performance or desirability of your bike, you can expect to pay more compared to an unmodified bike. This is because all of these elements could increase the risk of your motorcycle being stolen or involved in an accident.

How much does modified motorcycle insurance cost?

Premium costs depend on a whole host of factors, including the type of policy you choose and whether you decide to add on any extras. Your personal circumstances also play a part in how your premium is calculated, and insurers will also consider your age, riding experience, and the type of activities you use your bike for.

How can I cut the cost of modified motorcycle insurance?

Modified motorcycle insurance can cost more compared to standard cover but there are ways to keep costs down, for example:

  • Pay for your policy annually – paying in monthly instalments often means you pay interest as well.
  • Keep your bike as secure as possible – ideally in a locked garage or bike shed but a ground anchor could help too.
  • Increase your voluntary excess – this lowers your overall premium, but you’ll need to pay it before a claim can proceed so it should still be an amount you can afford.
  • Take an advanced rider course – some insurers will offer you a discounted premium if you complete advanced rider training, but it’s worth making sure the course you do is recognised by your insurer first.
  • Compare policies – comparing quotes on comparison sites is one of the most effective ways to ensure you get great value for money. Get an online quote with MCN Compare.

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