Help & FAQs    Search BCF    Members    Groups    Events Calendar
Resend my activation email : Register : Log in 
BCF: Bike Chat Forums


Insurance questions

 Reply to topic
Bike Chat Forums Index -> General Bike Chat
View previous topic : View next topic  
Author Message

Marcg868
World Chat Champion



Joined: 20 Jan 2005
Karma :
PostPosted: 05:23 - 23 Nov 2007    Post subject: Insurance questions Reply with quote
Basically i have 3 years NCB and live in a high risk area ( Bolton)

Now my cbr is probably worth £1700 nowadays.

However do i go for the cheap as chips option

TPFT £275

or

Comp £398 with breakdown, etc

Now My mum says go fully comp everytime, but im not sure.

Both the above qoutes are with NIG insurance using Lexham and H&R

Any suggestions. Both i can afford but just wanna see peoples thoughts.
____________________
JACK, MISS YOU LOADS YOU LEGEND.
 Back to top
View user's profile Send private message You must be logged in to rate posts

chris-red
Have you considered a TDM?



Joined: 21 Sep 2005
Karma :
PostPosted: 05:54 - 23 Nov 2007    Post subject: Reply with quote
Fully comp, it's worth it purely for the lack of hassle.

i.e. On TPFT you get into a smidsy you will be waiting months for the claim to be sorted and get your bike/a payout.

Fully comp and you you will get everything sorted ASAP.

From personal experiance, £123 is well worth it for that difference alone.
____________________
Well, you know what they say. If you want to save the world, you have to push a few old ladies down the stairs.
Skudd:- Perhaps she just thinks you are a window licker and is being nice just in case she becomes another Jill Dando.
WANTED:- Fujinon (Fuji) M42 (Screw on) lenses, let me know if you have anything.
 Back to top
View user's profile Send private message You must be logged in to rate posts

iooi
Super Spammer



Joined: 14 Jan 2007
Karma :
PostPosted: 06:20 - 23 Nov 2007    Post subject: Reply with quote
If YOU can afford to replace the bike then TPFT if not FC.

Persinally FC as 1700 is a lot of money to risk losing if you bin it.... For the sake of saving 120 ish.
____________________
Just because my bike was A DIVVY, does not mean i am......
 Back to top
View user's profile Send private message You must be logged in to rate posts

Richard_Schmid
Scooby Slapper



Joined: 01 Nov 2007
Karma :
PostPosted: 12:48 - 23 Nov 2007    Post subject: Reply with quote
Fully comp. No doubt. Thumbs Up
 Back to top
View user's profile Send private message You must be logged in to rate posts

G
The Voice of Reason



Joined: 02 Feb 2002
Karma :
PostPosted: 12:59 - 23 Nov 2007    Post subject: Reply with quote
iooi wrote:
If YOU can afford to replace the bike then TPFT if not FC.

If YOU can afford to pay higher premiums for the next five years, then go FC, though similar if you're going to

FC is all well and good in a SMIDSY, until they fight it and you lose your NCB.

What FC /is/ good for is if you have an at-fault claim.
At this point there is already a claim registered against you, so you can claim for your own bike without being any worse off, which you may be after claiming on FC etc.

To many people claim on TPFT and FC, then end up having less money a year down the line that if they hadn't claimed at all.
 Back to top
View user's profile Send private message You must be logged in to rate posts

Marcg868
World Chat Champion



Joined: 20 Jan 2005
Karma :
PostPosted: 17:17 - 23 Nov 2007    Post subject: Reply with quote
Done dusted fully comp it is Thumbs Up
____________________
JACK, MISS YOU LOADS YOU LEGEND.
 Back to top
View user's profile Send private message You must be logged in to rate posts

G
The Voice of Reason



Joined: 02 Feb 2002
Karma :
PostPosted: 17:22 - 23 Nov 2007    Post subject: Reply with quote
bwfc4eva86 wrote:
Done dusted fully comp it is Thumbs Up

Just remember if you do have to claim to work out if you'll actually end up with less in your pocket.
 Back to top
View user's profile Send private message You must be logged in to rate posts

Kickstart
The Oracle



Joined: 04 Feb 2002
Karma :
PostPosted: 17:31 - 23 Nov 2007    Post subject: Reply with quote
G wrote:
FC is all well and good in a SMIDSY, until they fight it and you lose your NCB.


In which case they would almost certainly be claiming from you so you would loose you ncb anyway.

All the best

Keith
____________________
Traxpics, track day and racing photographs - Bimota Forum - Bike performance / thrust graphs for choosing gearing
 Back to top
View user's profile Send private message Send e-mail You must be logged in to rate posts

iooi
Super Spammer



Joined: 14 Jan 2007
Karma :
PostPosted: 21:41 - 23 Nov 2007    Post subject: Reply with quote
G wrote:
bwfc4eva86 wrote:
Done dusted fully comp it is Thumbs Up

Just remember if you do have to claim to work out if you'll actually end up with less in your pocket.


So he bins it in the next couple of months over the winter....

Which would you rather lose
£1700 or £120 ish.....

Not a hard choice.

Same on the SMIDSY.......
So you might lose a bit of your ncb, but that is less than the £1700.

5 years of paying a bit extra is preferable to losing £1700......

You seem to have a big downer on FC.
____________________
Just because my bike was A DIVVY, does not mean i am......
 Back to top
View user's profile Send private message You must be logged in to rate posts

Kickstart
The Oracle



Joined: 04 Feb 2002
Karma :
PostPosted: 22:06 - 23 Nov 2007    Post subject: Reply with quote
iooi wrote:
5 years of paying a bit extra is preferable to losing £1700......


Quote possibly more expensive.

For example insurance companies often cancel the policy when you claim. So that is £400 of policy potentially gone. Renewal will no doubt land up with a loading as well as the loss of no claims.

Say loss of 50% reduction the first eyar, 40% the second, etc.

Over 5 years based on a £400 policy that could be £400 (policy cancelled), £100 (loading), £400 extra the first year (loss of no claims), £260 the 2nd year, £170 the third, £100 the 4th & £45 the 5th. That is £1475 potentially in extra payments.

All the best

Keith
____________________
Traxpics, track day and racing photographs - Bimota Forum - Bike performance / thrust graphs for choosing gearing
 Back to top
View user's profile Send private message Send e-mail You must be logged in to rate posts

Itchy
Super Spammer



Joined: 07 Apr 2005
Karma :
PostPosted: 22:14 - 23 Nov 2007    Post subject: Reply with quote
iooi wrote:
[..

Which would you rather lose
£1700 or £120 ish.....

Not a hard choice.
.


the question isn't that its what do you want to lose £1700 or £1700,
you crash the bike you lose £1700ish

you crash the bike you claim on insurance you get £1700 compo (if you are lucky since they will try to get you to settle for less), and for the next 5 years they will load your premium super heavily to get the £1700 back.

There is a gentlemans agreement that means that insurance companies recipricate this so that changing insurance companies won't work.

This silly silly girlie who sold me a CBR fairing claimed on her full comp ins to replace her broken bits , (£299 per fairing panel! new from the big H) , she'll be shocked come renewal time.
____________________
Spain 2008France 2007Big one 2009 We all die. The goal isn't to live forever, the goal is to create something that will. In the end, your life will flash before your eyes. Make sure it is worth watching.
 Back to top
View user's profile Send private message Send e-mail You must be logged in to rate posts
Old Thread Alert!

The last post was made 18 years, 119 days ago. Instead of replying here, would creating a new thread be more useful?
  Display posts from previous:   
This page may contain affiliate links, which means we may earn a small commission if a visitor clicks through and makes a purchase. By clicking on an affiliate link, you accept that third-party cookies will be set.

Post new topic   Reply to topic    Bike Chat Forums Index -> General Bike Chat All times are GMT
Page 1 of 1

 
 You cannot post new topics in this forum
You cannot reply to topics in this forum
You cannot edit your posts in this forum
You cannot delete your posts in this forum
You cannot vote in polls in this forum
You cannot attach files in this forum
You cannot download files in this forum

Read the Terms of Use! - Powered by phpBB © phpBB Group
 
Debug Mode: ON - Server: birks (www) - Page Generation Time: 0.06 Sec - Server Load: 1.67 - MySQL Queries: 13 - Page Size: 73.44 Kb