Motorbike insurance is an essential condition for riding a motorbike or scooter as by law you must have at least third party bike insurance. This financially protects others from injury or damage to their bike caused by you, but does not cover damage to your own vehicle.

There are two other types of bike insurance: third party fire and theft and fully comprehensive. These are more expensive because they give you more coverage; however it is important to consider all the factors that are important to you rather than simply cost. Other factors may include coverage for foreign travel or the level of excess you want to pay.

Motorbike insurance companies must weigh up the risk with the cost of the insurance premium charged; therefore motorbike insurance for young riders can be more expensive due to the increased risk of accidents. Motorbike insurance and running costs are still generally much cheaper though for young people in comparison to a car.

To get the cheapest bike insurance premiums, young bikers are advised to do extra training courses to prove that they are safer riders and have a reduced risk of accidents. Advanced riding qualifications do cost money, but are a sound investment as they can reduce your insurance costs by more as well as making you a better rider.

Other tips to help young riders reduce the cost of their motorbike insurance include keeping your bike as safe as possible. If you have a garage, leave your bike in it overnight to help reduce the risk of theft. Fitting approved security systems and locks is also a great way to improve the security of your bike whilst you are out and about.

Despite bike insurance being required by law for financial protection, it can be beneficial in other ways too. Knowing that you are protected should something unfortunate happen will give you the peace of mind you need in order to fully enjoy your bike.

Philip Youngwood writes about a number of topics including motorbike insurance.