If your bike is a total loss through accident or theft, you may be left with a sizeable sum to pay. Many finance and lease customers assume that if their bike is stolen or damaged beyond repair, their comprehensive motor insurance will pay the remaining balance owed to the financier.

However, in the  event of a total loss, the settlement amount received from your insurance company is the actual market value or the agreed value of your bike.
Your loan contract is likely to include additional amounts for such things as stamp  duty, dealer delivery charges, registration, transfer fees and compulsory third party insurance. So, in many cases the amount you receive from your insurer may be significantly less than what you owe your financier.

Gap insurance will cover any shortfall to finalise the loan. You will then be able to finance and purchase another bike and get back onto the road quickly.