Financial Advisor

Insurers Encourage Brits to Opt for the Motorcycle

As the weather is forecasted to worsen within the next few days, so is the UK economy.

According to experts, it is predicted that the UK economy is set to deepen throughout 2009.

As more people struggle for cash with Woolworths officially seeing its final day and Marks and Spencer’s announcing its recent 1000 job cuts, unemployment figures is set to soar as more businesses announce losses.

And what’s more, the weather seems to be making things a hundred times worse as more homes are damaged, more people are injured, more road-traffic accidents occur, and insurance premiums become an issue.

The best way to deal with the credit crunch is to try and save as much as you can without causing extra harm to your finances in the long-run.

“Honesty is the only policy”
Recent news by the Association of British Insurers (ABI) had revealed that more people are providing false information or not providing relevant information on their insurance applications as a means to save.

However, it was revealed that claims are most likely to be rejected if found lying on your insurance applications resulting in forking out additional costs.

Nick Starling of the ABI said: “Cheating to get cheaper insurance puts your cover in jeopardy, with potentially disastrous consequences.”

He warned that “honesty is the only policy.”

Chose a motorcycle to reduce your costs
As petrol prices, road tax, insurance, congestion charging, servicing and maintenance costs add up, more motorists are predicted to ditch their four wheels and take to two wheels as a bid to bite through the crunch.

Motorcycles and scooters are a great option when suffering from the current economical climate. They’re cheap on tax, insurance, petrol and maintenance as well as being easy to park.

Bus lanes for motorcyclists
And furthermore, a new scheme to fight congestion allows motorcycle, moped and scooter riders the ability benefit from shorter and cheaper journeys by the use of red-route bus lanes along with buses, cyclists and taxis.

The scheme is an 18-month trial which had previously taken into action for three years and had decreased the number of reported collisions by 42 per cent.

Steve Martindale, General Manager of Honda (UK) Motorcycles said: “The opening of red route bus lanes for motorcyclists in London is a welcomed decision by Transport for London, both for easing congestion in the Capital but also importantly, for improving road safety for motorcyclists and other road users.”

Motorcycle insurance and safety precautions
Motorists have previously been advised to search for adequate motorcycle insurance which is the most suitable for your needs and not just opt for the cheapest one.

However, despite the great advantages of owning a motorcycle, insurers have strongly advised that riders should take appropriate safety precautions instead of relying primarily on insurance.

In the case of an accident, insurance is necessary along with other safety precautions such as wearing a helmet and ensuring the vehicle is well maintained and checked before setting off on long journeys.

Recent news had warned motorists that some claims may be rejected if the rider is found to have not taken the required safety measures so it is advised that motorists read their policy carefully.

Arti has more articles pertaining to bike insurance and other insurance related articles.

Insurers Encourage Brits to Opt for the Motorcycle / Author: Arti Manani