Direct insurer MiWay has launched a new motorcycle insurance product specifically aimed at motorbike owners, covering not only the bikes themselves but also non-standard accessories and riding gear.
“As bike enthusiasts ourselves we understand that not all bikes, or bike owners, are the same,” says MiWay’s Head of Motorcycle Distribution Terry Terblanche. “Our rating specialists will tailor different premiums for clients depending on what kind of bike they own – whether it’s a superbike, cruiser, off-road bike, quadbike and so on – and how they use their bikes. If you’re a low insurance risk, you’ll pay a lower premium.”
“We also know what it actually costs to repair a motorbike, from manufacturer down to the actual model,” adds Terblanche. “Bike owners won’t be misjudged and risk assessed according to outdated stereotypes. We also know that a bike is nothing like a car: We have relationships with bike dealers, and the specialist knowledge we need to assess claims properly. We won’t try and convince our clients to repair cosmetic panels when it would be more appropriate to just replace them.”
MiWay separately insures riding gear and accessories. “We understand the true value of items like exhausts, carbon fibre parts, custom spray jobs and race suspensions,” says Terblanche. “These are a big investment for many bike owners, but some insurers don’t make it clear to their customers that non-standard accessories aren’t covered by their policies. We’ll always remind the bike owner to specify accessories separately, and we make sure they understand what the excess on their policy is. By insuring accurately and according to the client’s specific needs, we make sure the client gets all the cover they need and nothing they don’t”.
René Otto, CEO of MiWay, adds that this specialist product is more proof of MiWay’s commitment to responding to the needs of its clients. “We will continue to develop solutions that bring us closer to the goal of establishing a one-stop direct financial services business,” he says.


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