When it comes to motorcycle insurance, there are three different types of coverage to choose from including - comprehensive, third party only, as well as third party, fire and theft.

Insurance is there to keep not only your bike safe on the roads, but you as well, which is why it is so important to get a suitable level of coverage to protect you and your motorcycle.

In this article we are going to be running down everything regarding third party, fire, and theft motorcycle insurance, including what it is, why people choose it, as well as what it covers.

So without further ado, let’s get into it, shall we?

Third Party, Fire, and Theft is one of the three levels of coverage you can get for your motorcycle.

TPFT insurance is also one of the most popular levels of coverage that people go for as it tends to be the affordable alternative to comprehensive insurance.

Third Party, Fire and Theft insurance provides coverage for any injury to a third party, third party vehicle damage, and their property if the incident is deemed to be your fault. TPFT will also pay out in the event that your motorcycle or scooter is stolen or damaged in a fire.

If you are involved in a collision, any damage to your person or your bike in the event of an accident regardless of non-fault/fault, will not be covered and you will have to pay out of pocket for any repairs or medical aids.

You cannot claim off your own policy for accident damage, however, a Third Party can claim off your policy for an accident you have caused.

On the other hand, although your own damage & /or injury is not covered under your own TPFT policy, if an accident was not your fault you can claim off the third party who caused the accident. 

Whether TPFT is enough to cover for you will depend on your personal and lifestyle choices. There is no right or wrong answer as to which level of coverage you should get, however, there are a few factors you should consider such as:

• How often do you intend to ride
• Where you live and where you plan to store your motorcycle
• The value and age of your motorcycle

Generally, (third party only) TPO will be cheaper than TPFT. However, the price of your quotation will be dependent on a variety of factors such as age, location, and occupation (to name a few).

When it comes to the cost of insurance, it is not the case of a one size fits all - it is always worth shopping around and seeing what you can find for the most reasonable price.

There are several risk elements involved that will determine the price of your motorcycle insurance quotation including, but not limited to;

• Garaging arrangements
• How and when you intend to ride
• Additional security
• Age
• Pillion Cover
• Any no claims bonus you’ve built (NCB)

*For more on ways to make your motorcycle insurance cheaper, check out our full comprehensive guide!

No claims bonuses (NCB) work exactly the same on TPFT policies as it does with all other levels of cover. A discount is provided for the NCB entitlement you hold and the discount typically increases with every additional year you earn.

As we mentioned previously, the suitable level of cover for you and your motorcycle will depend on your personal preference and situation. It is worth considering the factors above and trying to assess what would work best for you lifestyle wise and financially.

However, if you are looking for motorcycle insurance, make sure to get a quotation direct with Lexham by filling out an online quotation form or giving us a call on 01379 646 529!