Can a motorcyclist secure affordable life insurance?
Whether you're into the Isle of Man race, are a member of a biking club or a casual recreational rider - motorbike riding is enormously popular in the UK.
However, unfortunately, you’re 50 times more likely to be involved in an accident when on a motorcycle, compared to in a car[1].
This emphasises the need to secure adequate life insurance in order to protect your family members should anything ever happen to you.
But do motorcyclists have to pay more for their life insurance?
In this article, we’ll answer this question plus many more. Keep reading to discover everything you must know about motorcycle life insurance…
LifePro could assist you find suitable cover
If you’re worried about the affect your motorcycling will have on your life insurance options, talk to a member of our award-winning team.
We can compare life insurance policies from some of the UK’s leading providers to assist you find cover.
What's more, we’re FCA-regulated and don’t charge a fee for our quotes.
Simply contact us to begin.
Can you get life insurance if you ride a motorcycle?
Yes, it could be possible to secure life insurance as a motorcycle rider.
Life insurance is assessed on the level of risk you pose to insurers.
Other aspects of your life will also be taken into consideration at the point of application. Such as:
How much life insurance do you need?
Enter your financial commitments to understand the level of cover you require.
The amount of life insurance you need depends on your financial obligations and what you want to provide for your loved ones. A common rule of thumb is to have cover worth 10 times your annual salary, though your individual circumstances may require more or less.
Consider the following when calculating your life insurance needs:
- Outstanding mortgage balance
- Other debts and loans
- Income replacement for your family (typically 5-10 years of salary)
- Children's education costs
- Funeral expenses (typically £4,000-£10,000)
- Any specific financial goals for your dependents
For example, if you have a £200,000 mortgage, earn £40,000 per year, and want to provide 10 years of income replacement, you might need around £600,000 of cover (£200,000 + (£40,000 × 10)).
Use our free comparison tool to get personalised quotes from 50+ UK insurers, including Motorcycle Life Insurance, and find the right level of cover for your needs at the best available price.
Compare Life Insurance Quotes »
