Observations on Insurance Trends

[GregD-UK]

Hi all,

Last year when I told them about my half a dozen mod's The reply was, "OK thanks, we will cover your bike, BUT, will not pay-out for the extra parts you have installed on the bike!" So, the moral of the story is, they want your hard-earned dosh, but, wooh be-tide-you if you have too claim! We won't replace any bling bling

Unless the bike is completely marmalizied beyond belief, I suggest:

A: If you crash, start stripping bits.
B: Only be a smidge liberal with what you have done, as they won't replace!
C: Say, "It was on when I bought it, and thought it was standard trim!"

Look forward too my next letter through the letterbox NOT

[D-Rider]

Hi all,

Last year when I told them about my half a dozen mod's The reply was, "OK thanks, we will cover your bike, BUT, will not pay-out for the extra parts you have installed on the bike!" So, the moral of the story is, they want your hard-earned dosh, but, wooh be-tide-you if you have too claim! We won't replace any bling bling

Unless the bike is completely marmalizied beyond belief, I suggest:

A: If you crash, start stripping bits.
B: Only be a smidge liberal with what you have done, as they won't replace!
C: Say, "It was on when I bought it, and thought it was standard trim!"

Look forward too my next letter through the letterbox NOT

Yeah - i think most will only replace with standard parts.

Your suggestion C is a bit more difficult for those of us who bought the bike new (it's the only new bike I've ever bought).

[Kwackerz]

Most of the aforementioned 'extras' ARE standard trim round these parts...

[Moose]

If you think it is bad now wait till this "brilliant" idea is implimented


http://www.righttoride.eu/?p=6967



It wouldn't suprise me if your increased insurance qoutes have links to these proposals (which MAG are fighting, by the way).

If anyone is interested there is a demo ride through Birmingham on the 2nd July more details here
http://west-midlands-region.mag-uk.org/hoe.php.

And don't get me started on compulsory ABS

I'll get off my soap box

[Moose]

And have you heard about this one, Compulsory wearing of hi-viz vests (that will spoil alads image )

http://www.mag-uk.org/en/newsdetail/a6855

[Aladinsaneuk]

words fail me...

[FlyingKiwi]

£246 with £500 excess on my 09 Fireblade for comprehensive with breakdown, I also said I carried a pillion, which I haven't done for 10 years and my pillion pegs are off, but you never know, and that I commute on it although maybe only 10 times a year (when the suns out!)
I always protect my NCB's so my accident 4 yrs ago didn't affect it so 9+ yrs No Claims and a Clean licence.
I was surprised really and was expecting more on a "Superbike". Delclared mods are only cosmetic carbon. I haven't declared my autocom or zumo as I would expect to remove them as I did with the Falco crash. I have noticed the excesses have increased over previous yrs

Oh I'm with MCE

[D-Rider]

And have you heard about this one, Compulsory wearing of hi-viz vests (that will spoil alads image )

http://www.mag-uk.org/en/newsdetail/a6855

The obvious parallel is the rape victim who happened to wear skimpy clothing.
It has rightly been established that the victim's (lack of) clothing can be no defence - so it is incomprehensible how another group can be told to dress in a certain way to stop them becoming victims.

..... though the report is of a proposal in France and they do have recent history of telling people how they can and can't dress ......

[Nooj]

They're using the recession as an excuse to load premiums. They don't make any money on premiums, they make money on investing premiums. Same happened last time there was a recession, they lost a load of money when the stock exchange collapsed so put everybody's premiums up to recover their losses. Funny how the people behind the banks and insurance companies never seem to loose any money though.

[D-Rider]

..... and with excesses rising so dramatically, they seem to have a great scheme to collect your money and seldom pay out .....

Put that alongside the stupid new rule that you have to keep your bike insured whether or not you happen to be riding it on the road and they must all be doing rather well for themselves ....

[Falconihlist]

Not sure how it would work, but it seems that business insurance for garages is quite cheap from what a couple of mates in the trade have been telling me. Should we turn the Falco forum into a business and all get insured on that? Mods won't affect it.

[blinkey501]

I read in mcn last week that france is to bring out a compulsary rule that hi viz vests are to be worn by riders, if you are ride through and are GB and dont abide by this rule then you will have to pay an on the spot fine. with the way th EU dictate what we should do i wonder when we will be told when we should comply,I ride with lights on because its my choice but i would prefer NOT to wear the jackets
,

[blinkey501]

just had insurance quote through 293 quid that is declaring mods but they will not be covered that is protected bonus fully comp with 500 pounds excess. I tried one of our recomended sites and they will not quote because of mods, but other one came in at 334 but with a 300 pounds excess an WILL cover mods and for fifteen quid extra they will cover my leathers helmet etc. But my fazer is due tax at end of month so i am transfering falco to that policy and pay extra. I think that what will be covered for 334 is a good quote so in febuary when renewal will fall due again i will ask them to requote

[D-Rider]

just had insurance quote through 293 quid that is declaring mods but they will not be covered that is protected bonus fully comp with 500 pounds excess. I tried one of our recomended sites and they will not quote because of mods, but other one came in at 334 but with a 300 pounds excess an WILL cover mods and for fifteen quid extra they will cover my leathers helmet etc. But my fazer is due tax at end of month so i am transfering falco to that policy and pay extra. I think that what will be covered for 334 is a good quote so in febuary when renewal will fall due again i will ask them to requote

So which one turned out best for you?

[flatlander]

O currently have no mods that I am aware of ... honest guv ... I told them i jad replaced the exhausts as the old ones were rotten so it was maimtamence mot modification. i did tell yhem thst they were an sfter market road legal exjaust and i was not aware of any significant performance change They wanted to charge extra for pillion so i said why? Do you charge per passenger in a car? The vehicle is registered for use with a passenger so i aint paying it Yold them to cancel and made sure i had 2 clean quotes from a comparison site. Sum total they reduced about 70 off the proposed increase i was tempted tp tell them to shove it as they were obviously taking the mickey but paid up as I was too lazy to go elsewhere after they brought it to a sensible level. I had similar issues recently with the car so did the same and told them to cancel ot mid term as the pay off cost would be less than I would save by switching that got suddenly reduced too

I seem to remember hearing something about an overseas EU insurance scam / loophole recently too