Third Party Fire and Theft motorcycle insurance cover takes the basic cover of Third Party Only and includes additional cover should your motorcycle or scooter be stolen, damaged while being attempted to be stolen or catches fire.
The other two common forms of insurance cover are…
If your bike or scooter is stolen or damaged beyond repair in a fire, you will receive a payout that will allow you to buy a similar motorcycle of the same age in the same condition. If your stolen motorbike is recovered, your insurer will pay to have any damage put right.
If you have an accident, Third Party Fire and Theft insurance will cover losses and damage to anyone else involved. This could mean fixing their vehicle or repairing their property or it could mean compensation for income lost through their inability to work or fulfil other obligations.
Third Party Fire and Theft motorcycle insurance from Bennetts also includes;
If the accident was your fault, maybe because you misjudged a corner or was caused by something like slipping on ice or wet leaves or diesel, then your Third Party Fire and Theft motorcycle insurance will cover damage to the other party’s vehicle or health, but not to yours.
If you have an accident where there isn’t another party who is clearly responsible, Third Party Fire and Theft insurance doesn’t cover the cost of fixing your bike, repairing your injuries or any loss of earnings.
Insurance premiums are built from a person’s risk profile and so if you are a low risk then you won’t pay that much more for Comprehensive motorcycle insurance than for Third Party Fire and Theft. That’s why it can be cheaper to deal directly with a broker instead of a comparison site because you get a tailored quote based on a broader set of questions and data.