Motorbike insurance works in exactly the same way as car insurance and it is even an offence to own a motorbike that isn't insured unless it is declared as SORN to the DVLA. If you are caught riding a motorbike without insurance you could find yourself facing a fixed penalty notice of £100, your motorbike could be clamped, seized and crushed, and then on top of this you could then face further court prosecution with a maximum fine of £1,000.
Motorbike insurance is broken down into the same three categories of cover - third party, third party fire and theft and finally comprehensive cover. Third party insurance is the mimiumum cover required by law. This will only cover damage to another persons vehicle, property or the person themselves as well as any passengers that they may be acrrying. This type of policy does not cover you for any damage to your own motorbike, and would not pay out in the evnt of your motorbike being stolen and should only be considered if your motorbike is low in value.
Third party firte and theft insurance is almost the same as third party, but also covers you if your motorbike is stolen or if it catches fire and is damaged or destroyed. Comprehensive insurance covers you for almost any eventuality including accidents which are your fault. It used to be the case that comprehensive insurance was automatically the most expensive for obvious reasons, however that isn;t the case now and so it is always worth checking whether this type of policy is now cheaper than one of the other policy types.
A common use for motorbikes is racing. Although this can be done legally around one of the many circuits in the UK, your insurance provider may not actually cover you for this. If you think you will be using your bike for track days, then you should check with the insurance company that you will be covered for this before you take out the policy. If you are caught racing without the proper insurance, you may end up being fined and receive points on your license. On to of this if you crash during a race, you would not be covered for any damage to your bike and if you damage another persons property you would end up having to pay for this out of your own pocket!
Providing that you have a full motorbike license and a bike capable of carrying passengers, you may want to add pillion cover onto your policy. Without this you will not be insured to carry a passenger on the back of your motorbike. This used to be standard on most policies but is now more commonly found as an optional extra to help reduce premiums for those who do not require pillion cover.