The insurance thread.

[paulx19car]

As bad as bennets.


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[Gyser]

I'm a bit confused as to why when I got a quote for my bike around January time I was quoted 619 quid FC with my mods declared and just me on my policy.

Now nothing has changed since I got that quote so why is it, when I've gone to get a quote today, I'm getting quoted 1200 quid FC and that's with my dad on the policy?!

It baffles me sometimes!

[Delboy777]

Insurance rates change almost on a daily basis, and a lot depends on when you get your quote. Thats why they put a time limit on any quote they hand out. My broker, Adelaide IAM surity quoted me £205 to renew, so i did a check on the meerkat site and found a quote from bennets for £158 for nearly the same cover. I sent my broker the details and lo and behold they can match the bennets price ! Why didnt they quote the lower price in the first place ? because they though they could get away with charging me more thats why  I do this every year get fresh quotes and then i tell my broker and because they have a price match promise they have no option but accept the lower price or otherwise i would leave them ........................simples.

[ShagDoubt]

Went through the usual yearly rigmarole and ended up with TPF & T insurance for £74.
This is with aQuote via Bikeinsurer and is pretty bare-bones, ie no breakdown etc.
This seemed to be a "base" level quote (cheapest possible) and in conversation with the agent i was able to add-in; protected NCB, no voluntary excess, pillion and commuting cover.
I was looking for cheap this year and my previous insurer (MCE) had quoted me £120 for similar cover and a staggering £240 for the same cover i had last year....that had cost me just £102!
Not bad for central Oxford methinks.

Touching wood as i say this but i've always previously gone fully-comp but never had a claim.
I know i'm playing-the-odds here but came to the conclusion that i've been paying for unnecessary cover for far too long. 

[Red]

Sometimes there is little difference by going fully comp, as the premium is mainly value of bike. Some actually charge more for 3rd party as they think its a young gun trying to insure only for this and a higher risk!!

[Gyser]

Just a quick question. What should I be putting down for the value of my bike? I bought it brand new in October 2010 and it's on a 60 plate. It's done just over 4000 miles and has Ixil Slip ons, the full body kit and a few other minor tweaks such as mirrors and tail tidy.

Any ideas?

[CharlieR]

Originally Posted by Gyser

Just a quick question. What should I be putting down for the value of my bike? I bought it brand new in October 2010 and it's on a 60 plate. It's done just over 4000 miles and has Ixil Slip ons, the full body kit and a few other minor tweaks such as mirrors and tail tidy.

Any ideas?

If it were me - I would still put around 6.5K with the extra's. The insurers take little notice of it anyway except that they will never pay MORE than your declared value. They will always try to chip your value even if you put 5K ....

[Gyser]

I've been putting £8k! 

Maybe I should be lowering my expectations! I think I'll whack it down to £7k and try again. Cheers

[Defender]

There was something on the TV the other day from one of those money gurus, about TPFT insurance sometimes being more than FC.
Don't put a silly high value on your bike as you do pay for the value.

[ShagDoubt]

Originally Posted by Gyser

Just a quick question. What should I be putting down for the value of my bike? I bought it brand new in October 2010 and it's on a 60 plate. It's done just over 4000 miles and has Ixil Slip ons, the full body kit and a few other minor tweaks such as mirrors and tail tidy.

Any ideas?

In discussion with an agent t'other day i was advised that any pay-out in the event of claim is pretty unrelated to the value you enter.
They will pay (most) of the book value for your year/mileage and then a percentage of any extras you've registered.
I.e, if you put 10k you won't get 10k back.

Just make sure you don't put too little.

[Red]

Just renewed my stand alone Street policy.
 
Got £10 off. I even up'd the aanual mileage
 
Kept the legal bits with it though but ignored the recovery as already RAC
 
I saw the list of modifications was  none, so went through a few, and basically if its a Triumph accessory/dealer fit and not increase performance its not necessary to list.
 
I did say about myself as the performance modification, and he said I was already down as IAM so discount taken and not added