In addition to comprehensive insurance (click here), the “next type down” of insurance that is available is third party , fire and theft insurance. This type of insurance covers your motorcycle if something happens to it due to a person or thing other than yourself. For example, companies generally cover your motorcycle if it is lost or damaged due to fire, lightening, an explosion or attempted theft As with comprehensive motorcycle insurance, a company will usually either pay for repairs, replace the bike or pay you a cash amount that is equal to the assessed loss or damage. They may even replace your exact motorcycle if it is brand new. The same basic benefits and coverage regarding other people involved in an accident with you (i.e. the third party) that come with comprehensive insurance tend to be included under third party fire and theft insurance .

This type of insurance is not as good as comprehensive, as if you are to blame for the accident then you generally will not receive any money towards fixing your bike etc. However, if you feel you are a very good driver and are counting the pennies, then it is normally (depending on where you live) a viable budget option for getting road legal.