【Motorcycle Insurance 2025】The difference between triple insurance and full insurance｜Premium reference for learner license and P license｜7 factors affecting premium
Author:
Kwiksure Team
Created On:
2025-05-16
Edited On:
2025-05-16
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Hong Kong is often congested. Many people like to ride motorcycles as a means of transportation. With the popularity of the food delivery industry, the number of motorbikes on the road is also increasing. Of course, purchasing motorcycle insurance is indispensable. Like private car insurance, it has third party insurance (three insurances) and comprehensive insurance (full insurance), and the coverage is also similar. But what is the difference between triple insurance and full insurance for motorcycles? Are there any restrictions for learner drivers and P-drivers when buying motorcycle insurance? This time, Kuaierbao will share with you the useful information and precautions for insuring your motorcycle.
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Differences between triple warranty and full warranty for motorcycles
According to Section 4 of the Motor Vehicle Insurance (Third Party Risks) Ordinance (Cap. 272), all motorcycles driving on the road must be covered by valid third party liability insurance (three insurances). The coverage includes "third party injury or death liability" and "third party property damage" to protect the insured from the legal liability for third party injury or death caused by an accident, and the statutory coverage amount is at least HK$100 million.
In addition, car owners can also purchase more protection according to their personal needs, such as third-party insurance including fire insurance and theft, or even comprehensive insurance (full coverage) to protect against losses caused by accidental damage.
|
Guarantee Scope |
Third Party Liability Insurance |
Third Party Insurance (Fire and Theft) |
Comprehensive Insurance (Full Insurance) |
|
Accidents causing death or injury to third parties and damage to their property |
YES |
YES |
YES |
|
Vehicle losses caused by traffic accidents, fire or theft |
NO |
YES |
YES |
|
Losses caused by accidental damage |
NO |
NO |
YES |
No Claim Discount (NCD) for Motorcycle Insurance
No Claim Discount(NCD) refers to a premium discount given to the insured if he/she has not made any claims during the past policy period. The maximum discount is 30% of the premium. The NCD is calculated as 0% in the first year and increases annually to a cap of 30%. However, it is worth pointing out that NCDs from car insurance cannot be transferred to motorcycle insurance. Also, like commercial vehicles, the NCD cap for motorcycles is only 30% while that for private cars is 60%.
|
Comparison of NCD between motorcycles and private cars |
||
|
Insurance Year |
Motorcycle |
Private car |
|
First Year |
0% |
0% |
|
Second Year |
10% |
20% |
|
Third Year |
20% |
30% |
|
Fourth Year |
30% |
40% |
|
Fifth Year |
30% |
50% |
|
Sixth Year |
30% |
60% |
Can I purchase insurance when learning to ride a motorcycle?
Different from learning to drive a private car, a motorcycle driver with a learner's license can practice driving alone on a motorcycle with a learner's license on non-restricted roads. Therefore, some learner motorcyclists will buy a motorcycle for practice. So insurance companies will not only accept holders of full driving licences and provisional driving licences (P licences) to purchase motorcycle insurance, but will also accept holders of learner driving licences (learner’s licences) to purchase motorcycle insurance.
For learner license holders, the premiums for motorcycle insurance are generally higher, and insurance companies will determine the premiums based on factors such as the model and horsepower. Therefore, learner license holders are advised to choose a model with a large cylinder volume for learning purposes to avoid excessively high premiums.
|
Reference on the three insurance premiums for various types of driving license holders (For example, the insured is 25 years old, has a 2023 250c.c. car model, 0% NCD, and is engaged in clerical work) |
||
|
Model |
Motorcycle |
Sheep |
|
Full Driving License |
$1,525 - $1,602 |
$1,525 - $1,842 |
|
Probationary Driving License |
$1,602 - $1,678 |
$1,678 - $1,842 |
|
Learning Driver's License |
$2,803 |
$2,563 |
7 factors that affect insurance premiums
Age of the insured / playing experience
Young or less experienced policyholders will be considered by insurance companies to be more likely to get into accidents, so they will be charged higher premiums than usual.
Types of Driving License
The insurance premiums for motorcycles for holders of a full driving licence, a provisional driving licence (P-licence) and a learner’s driving licence (Learner’s Licence) will also be different, with the premium for a learner’s driving licence being the highest among the three.
Vehicle Type
Although most people think that sports cars and motorcycles are better than sheep, the insurance premiums for sports cars and motorcycles are naturally higher. But apart from that, it still depends on the displacement of the insured motorcycle. If you compare the premiums of a 750 c.c. SUV and a 250 c.c. street bike, the premium for the street bike will be lower than that of the SUV.
Insurance Type
Third Party Liability Insurance (Triple Insurance) only protects the insured against legal liability for third party injury or death caused by an accident, while Comprehensive Insurance (Full Coverage) provides coverage for losses caused by damage due to an accident, and some even include towing costs, so the premium is higher than Triple Insurance.
Deductible
Also known as the "deductible", it is the amount that the insured needs to bear when making a claim. The higher the deductible, the lower the premium. Note that excesses are calculated cumulatively. If there are multiple excess items on the policy, such as "young driver excess", "unnamed driver excess" and "inexperienced driver excess", if the driver meets the above conditions at the same time, the excesses will be calculated cumulatively.
NCD
The full name is No Claim Discount, and some insurance companies may call it NCB (No Claim Bonus). If the insured has not made any claims during the past policy period, he will receive a premium discount, and the discount will increase by 10% each year. The maximum discount for motorcycle insurance premiums is 30%.
Vehicle Purpose
When taking out insurance, the insured must declare whether the vehicle will be used for commercial purposes, such as the takeaway business which has become popular in recent years. As a commercial motorcycle, the insurance premium will be higher than that of a motorcycle for personal use.
FAQ
What is the difference between triple insurance and comprehensive insurance for motorcycles?
Third Party Liability Insurance (three insurances) protects the insured against legal liability for third party injury or death caused by an accident, while comprehensive insurance (full coverage), in addition to the coverage of the three insurances, also protects against losses caused by damage caused by accidents.
Can I buy insurance when I learn to drive a motorcycle?
In addition to accepting holders of full driving licenses and probationary driving licenses (P licenses) to purchase motorcycle insurance, insurance companies will also accept holders of learner driving licenses (learner licenses) to purchase motorcycle insurance.
