Security, of own self and of others, is of utmost importance today. Having motorcycle insurance for your bike is an absolute must in Australia, unarguably. However, one needs to beware of some common mistakes that might prove non-beneficial in spite of having insurance.

Below are mentioned, few mistakes that we usually commit due to negligence or ignorance:

• While purchasing a second-hand vehicle, we usually overlook the importance of transferring the bike insurance to the new owner too. This leaves the vehicle and its owner uncovered, despite initial investment being made for its cover.
• Unmindful of the expiry date of the motorcycle insurance, we let the policy lapse. If an accident occurs in the period when the insurance policy has lapsed, no expenses would be covered for, rendering the previous investment almost useless.
• No Claim Bonus, is often neglected, at the time of policy renewal. This might hamper your low-risk status, and devoids you of its resultant benefits.
• Many a times, owners of two-wheelers believe in claiming a low Insured Declared Value (IDV) in order to attract lower premium. However, in case of theft, the reimbursed amount would be less, and hence the owner would get a lesser amount which might not be sufficient to fund a replacement vehicle against the lost bike.
• Time is of essence in case of an accident, and timely claim is of utmost importance. Many insurance providers will have a window of 24 to 48 hours from the time of accident to its claim. As soon as a need of claim arises, it has to be reported to the insurance company without any delay.
• Not being careful of entering correct personal details, might make you guilty of bike insurance fraud. Moreover, the cover for which a purchase has been made, would no longer be applicable, and no reimbursements would be made against the claims made by the insured.