T.P.O. or not T.P.O. - that is the question.

Major_Grooves · The Doctor Joined: 10 May 2002 Karma :

My bike insurance is due for renewal, so I'm wondering about going T.P.O. this time instead of TPFT.

My bike is a 1995 Honda CB500, I bought it a year ago for £1350, but it's probably not worth much more than £1000 now I'm guessing.
It's never going to be stolen for parts.
It's not exactly attractive to young bike thieves.
It's parked in non-secure off street parking out of view of anybody on the street.
I'm kind of broke so need to save money somewhere - the renewal quote is £340. Before you mention it I will be getting the resident womble to quote me happy.

I would also like to get third party all bikes. Can you still get this with TPO?

Cheers! Smile

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Robby · Dirty Old Man Joined: 16 May 2002 Karma :

Look at it this way. If it was stolen, and you had tpft, would you, or could you afford, to make a claim?

Only worth having TPFT if you would claim in the event of it being stolen. Otherwise save your money.

As for other bikes cover, no idea, but all insurers are a bit different so call around and see.

Frost · World Chat Champion Joined: 26 May 2004 Karma :

Your a biker, so naturally your about as lucky as a hetrosexual siamese twin who shares his homosexual twin brothers ass.
The day you insure it TPO is the day it will get stolen.

hugo-a-gogo · Trackday Trickster Joined: 13 Feb 2004 Karma :

ok, so you pay a couple of hundred more for TPFT, if it gets stolen, you claim, get about a thousand, lose all your no-claims AND get your premium loaded for the next few years. you'll end up losing more money if it is stolen and you claim, than if you don't pay that extra and just accept a loss of 1000 worth of the bike

of course, it probably won't get stolen, so you win there too
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"There are some things nobody needs in this world, and a bright-red, hunch-back, warp-speed 900cc cafe racer is one of them - but I want one anyway, and on some days I actually believe I need one. That is why they are dangerous."
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stinkwheel · Bovine Proctologist Joined: 12 Jul 2004 Karma :

I wouldn't insure a bike worth less than a grand TPF&T if it was going to cost a lot more than TPO.

If you claimed you would have the 250 excess, loose your no-claims (so if you are on maximum that is worth up to 200 quid with the size of your premium) and your insurance gets loaded for five years after. If the bike is worth a grand they will 'depreciate' it to about 800 so your payout would be worth no more than 300 quid in real terms. Add to that the fact that they will cancel your policy straight away so you loose any of the insurance still to run.

I would rather take the hit and keep my no-claims.

However...you may find that TPF&T is not a lot more expensive than TPO (sometimes it is less, strange but true) in which case, get the TPF&T, if it is stolen you can decide at the time if you want to claim.
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