Bike Marque Insurance

In summary under these criteria the product caters for the more experienced rider. It also offers terms for Comprehensive and Third, Party Fire and Theft (TPFT) cover. It caters for riders aged from 23 to 74 years old and can provide cover for motorcycles from Mopeds, Sports, SuperSport, Naked, Enduro, Street, Tourer and Cruiser Bikes.

Characteristics of target market:

• Customers who are residents of the UK and where the vehicle is registered in the UK.

• Customers who are aged between 23 and 74 years old.

• Customers who want annual (12 months) insurance cover.

• Customers who require Third party Fire, Theft and Accidental Damage Cover (Comprehensive) or Third-Party Fire and Theft (TPFT) cover only.

• Customers who do not have a non-motoring conviction.

• Customers who hold a full UK motorcycle licence.

• Customers who have less than 3 minor motoring conviction and no more than 1 CD or IN conviction within the last 5 years.

Objectives, needs and interests of the target market. This Product:

• Provides cover for bikes valued up to £15,000 for Comprehensive cover and £6,000 for TPFT.

• Provides cover for up to market value of the bike at time of accident, loss or theft and Liability to others.

• Provides cover for social domestic and pleasure use, SD&P + commuting only, Class 1 (only where vehicle is ridden for less than 4,000 miles).

• Provides cover against third party claims that arise from the use of their bike, for accidental damage and damage caused by fire and theft.

• Provides cover when the bike is being ridden in the UK and abroad for 30 days per trip and a maximum of 90 days in any one period of insurance.

• Provides cover for riding the bike up to 7,000 miles annually.

• Does not automatically provide cover for riding any other person’s bike. Customers will need to check their certificates to see if they are covered in these circumstances. In any case cover will be provided on a third party only basis.

Customers for whom the product would not provide the intended value:

• Individuals who do not require insurance for a motorcycle.

• Any customer aged under 23 years old.

• Any customer who only holds a provisional licence.

• Any customer who wished to have “laid up cover” for their bike.

• Any customer who wants to insure a trike or quad bike.

• Any customer who wants short term cover (i.e. less than 12 months).

• Any customer who wants to use bike for any form of business use (other than Class 1 where bike is ridden for less than 4000 miles), hire and reward or motor trade purposes.

• Any customer who wants to ride their motorcycle in order to act as a Courier and/or as fast-food delivery riders.

• Any customer who stores/garages their bike away from their home address.

• Any customer who wants to insure an electric bike.

• Any customer who requires Third Party Only (TPO) cover.

• Any customer who has had a previous policy cancelled by an insurer or declared void.

• Any customer with 4 or more claims regardless of fault in the past three years (excluding Windscreen claims only).