Similarities & Differences Between Car & Motorcycle Insurance

You’ve been dreaming about it since you were a kid. The feeling of wind in your hair and the sense of freedom that only cruising along the winding mountain roads on a bike can bring. You’ve decided that you’re going to get yourself a motorcycle. Now is the time to live out your ‘easy rider’ lifestyle fantasy.

After countless hours of research, you’ve finally picked the perfect model and are ready to head to the dealer and become the proud owner of your new motorcycle. Dialdirect would like to remind you that there are a few more things to consider before hopping onto your new bike. Motorcycle insurance is one of them. You will definitely need insurance when you’re driving on South African roads, whether in a car or on a motorcycle. 

You’re probably already pretty clued up about what car insurance entails, and while there are similarities between car and motorcycle insurance, there are also some differences. Discover these similarities and differences as Dialdirect discusses motorcycle insurance vs car insurance. 

Similarities between car & motorcycle insurance

The primary cover remains the same. Both car and motorcycle insurance will cover you for theft, accidental damage to your vehicle or motorcycle, and third-party cover. You’re also insured if your bike or car is damaged in a fire or flood or if any accessories are stolen along with the car or bike.

1. Premiums 

When calculating your motorbike insurance premium, the same factors are considered for car and motorcycle insurance options.  These include:

• Type of bike/car you drive – the bigger, shinier and faster, the higher the premium.

• Cost of the bike/car - the more expensive, the higher the premium.

• Where you live – the cost of cover for your bike/car will increase if you reside and travel in an area with a greater possibility of accidents or theft.

• Your security measures – whether parking your vehicle in a locked garage or having other security measures in place.

• The drivers of the bike/car – including the number of drivers, the age and genders of the drivers and the number of years the drivers have had their licence. 

• The amount of time you plan on riding your bike/driving your car – is the car/bike just your Sunday-drive wheels, or will it be used daily as your primary source of transport?

• The type of bike insurance you want to purchase – comprehensive vs basic cover.

As with any vehicle, the type of car or motorbike insurance you choose will change the rates. You, of course, need to figure out what coverage gives you peace of mind and fits into your budget.

2. Add-ons

Like most insurance packages, extras can be added to your car or bike insurance policy, like Hail Cover or Scratch & Dent Cover. Dialdirect car and motorcycle insurance includes Emergency Assist for roadside and towing assistance. All handy benefits to have when you’re out on the road.

The differences between car & motorcycle insurance

Apart from their wheel numbers, there are a few differences between cars and motorcycles when it comes to insurance. While both come with their own set of risks, motorcycles tend to carry a higher risk. 

1. Risk factors for motorcycles

Skipping the morning rush hour, finding good parking spots and enjoying the open road on your Sunday morning ride are some of the benefits of riding a motorcycle. But you can’t ignore the high risk of riding a bike[1], especially on busy South African roads. If the unfortunate happens and you get into an accident, your chances of injury are much higher if you are on a bike than in a car. The damage and chance of a ‘write-off’ are also much higher on a bike. These all impact your insurance premiums.

2. Motorbike insurance costs

While a motorcycle will generally cost less than a car to buy, the opposite is true when you start looking at insurance. Motorcycle insurance in South Africa is often more expensive than car insurance because motorcyclists are at a higher risk of having an accident. Meaning a higher risk of making a claim.

It’s not all bad news; your motorbike insurance premium will likely decrease if you have an inexpensive motorcycle and have a good riding record. Sports bikes, however, will come with a higher premium. Remember, motorcycles have many different types of engines. The more powerful the engine, the higher the insurance premiums. 

3. Different types of add-ons

There are also a few different add-ons that come with motorcycle insurance. Motorcyclists usually also have options like transport trailer coverage and coverage for custom accessories, parts, and equipment like chrome and saddlebags.

4. Finding insurance partners

It’s pretty easy to get car insurance. There are plenty of car insurance companies in South Africa. Bike insurance companies, on the other hand, aren't as common. Not all vehicle insurance providers offer both car and motorcycle insurance – which could mean more admin for you if you already have car insurance with a provider that doesn’t also offer motorcycle insurance.

Get a motorcycle insurance quote with Dialdirect

At Dialdirect, we offer both car and motorcycle insurance – removing the admin of having to sign up with another insurer. One monthly debit order. And one contact to answer all your insurance questions and queries. It can’t get any simpler.

As you can see, not all vehicle insurance is the same. While car and motorcycle coverage share many similarities, don’t make the mistake of assuming that they’re precisely the same. Anyone owning and riding a motorcycle, whether it’s for getting around town or for taking long country drives, should have motorcycle insurance coverage. Get a motorcycle insurance quote online from Dialdirect to keep your asset safe. 

Sources:

[1] Citizen.co.za Biker remain more vulnerable 

Disclaimer: Dialdirect Insurance is an authorised FSP insurer. Terms and Conditions online.