MiWay Insurance Warns About High Cost of Motorbikes

July 15 - There is something to be said for owning a motorbike these days.  It saves a lot on fuel costs, especially if you work far, and it saves time by allowing you to avoid heavily congested areas when commuting.

However, before you rush out and sell your family sedan in order to buy a motorbike, consider the advice given by MiWay Insurance regarding the hidden costs of owning a motorbike.

The Head of Miway's Bike Insurance division, Terry Terblanche said that there are a number of costs that drivers may not have considered, and which should be added to the monthly bill.

For example, the cost of servicing a bike is significantly higher than servicing a car and this needs to be factored into the budget.

In addition, bike tyres get worn away quicker than car tyres, which means that they need to be replaced on a more regular basis.

Many drivers don't realise that riding gear doesn't come cheap, and will need to factor costs such as leather riding gear and helmets into their budgets as well.

"If you want good quality riding gear - and it's strongly recommended - you need to budget for that expense as well," said Terblanche.

Motorbike Insurance Costs

Insurance a motorbike, on the one hand, may be cheaper than insuring a car, in the sense that monthly premiums cost less.

However, warns MiWay, drivers will land up paying a higher access if they claim.

"When you are planning your purchase, make sure you will be able to afford your monthly insurance premiums as well as the repayments on your bike," said Terblanche.

Terblanche said that a bike has the potential to be more affordable than a car, as long as the right one is bought to suit the driver's pleasure and lifestyle.

"If you make the right choice, you should be able to enjoy years of pleasure from your bike," he said.