TPF+T - LolWut

[HJM]

Alright so getting some quotes up for the bike ill be buying soon (XR125)
Third party only insurance is £400 and TPFT is £1100, the bike costs £850ish second hand, is it worth the extra £500 to insure?

This makes no sense, well firstly it sucks that my insurance costs more then the bike, and secondly i have to pay £500 to insure a £850 bike.

Any suggestions guys? Risk it? Play it safe? - Live in a fairly safe area, will be left in back garden overnight, through two sets of locked doors to get too, with a Disc lock and chain/padlock. Supermoto's are pretty attractive to theives which is why my im struggling to not see myself get TPFT.

THANKS FOR READING!!!!



Edit to save questions, im 18, student, no job, 0 NCB.
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"90% of all statistics are made up"

CBT-18/04/2013

[MG]

What's the excess? If you're paying £500 extra for F+T (looks like £600 from your figures tho. 1100-500), and then excess is £300+, you may as well save the money for when if it gets stolen.

Honestly I wouldn't, especially as it's stored in your garden, just a get a big fucking lock and don't let it get nicked. Increase in premium after claiming would be enough to put me off tbh.
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'03 Honda Cityfly 125 > '02 Honda CB500S > '98 Honda CBR600F

[GREENI3]

Anything under a grand isn't worth TPFT/FC, as by the time you've paid excess and the difference between TPO and TPFT you're not much better off than if you did nothing.

And then there's the future shafting by insurers when you come to renew or take out another policy.

Tbh I don't know why anyone would consider insuring a bike (FC/TPFT) for £250 more than it's worth.

[P.]

Its a fairly common bike to steal.

Keep indoors or back garden with limited access, lock on gate and bike...also alarmed under a cover. Then go TPO.

[bikertomm]

Was in exact same situation as you mate, 18, XR125, and the insurance was around the grand mark for Third party fire and theft, fair enough, but the Compulsory excess was £500!

Exactly like yours, in my opinion not worth it. Buy some locks, I have 4, a disc lock, a cover and I keep it hidden away inside


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07' Honda Hornet now full powaah! My guide on performing an oil change!

[HJM]

[HJM]

Im not too worried about it getting nicked when im home, its more when im out and about. Its a very light bike and ofc ill have security devices with me when im away from home but it wont be as secure
____________________
"90% of all statistics are made up"

CBT-18/04/2013

[Derivative]

All depends on how much you can actually get TPFT cover for.

Quotes I have been putting through to try and figure out what bike to get, 21 year old 1 year NCB, parking 'off the road', newly licensed.

CB500: value ~£1000

TPO £200
TPFT £260 with £250 excess

GPZ500: value ~£1000

TPO £200
TPFT £280 with £250 excess

CBR600F: value ~£1000-1500

TPO £450
TPFT £777 with £400 excess

So I'd say the CB and GPZ are almost definitely worth insuring, you're paying £60-80 extra for a payout of at least £500 (bike value minus excess) - basically the insurers assume your bike will get nicked once every eight years or so.

But the CBR? £327 for a payout of £500-1000. There it's more like your bike getting nicked once in three years. Not so sure.

[HJM]

guys im gonna sound like a right twat but can someone explain to me the whole deal with excess?

Cheers for the replies guys.

Ahh the day i get quoted £250 for TPFT will be a happy one!
____________________
"90% of all statistics are made up"

CBT-18/04/2013

[Derivative]

[HJM]

Wow, so when i put a voluntary excess of £500, if under TPFT my bike was to get stolen i would basically be paid jack. Cheers mate!
____________________
"90% of all statistics are made up"

CBT-18/04/2013

[Derivative]

[bikertomm]

lol no worries mate, yes, what he said.

You'll get compulsory excess and voluntary excess. So in the event of an accident / gets stolen the insurance company will have the compulsory excess you agreed to, and then also any voluntary on top. So make sure you get quotes with 'voluntary excess' selected to £0. And always check the small print for the compulsory excess!

So basically lets say the average XR is worth a grand.

If you pay £1100 on insurance, you've paid £600 more than third party only.

And if your bike does get nicked, you have to pay ANOTHER £500.

So yeah, you do the maths

Not worth doing!

Get the cheapest cover you can with TPO, invest in a couple of locks.

I'm with bikesure a.k.a Adrian Flux I believe. I got a quote of like £339 on thebikeinsurer with MCE so I rang up bikesure and asked them to beat my quote, they did it for £338 But threw in free legal cover.

Jobs a good'un,

Enjoy the XR
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07' Honda Hornet now full powaah! My guide on performing an oil change!

[Quornholio]

The amount of people in this thread with the inability to do simple sums, amazes me.

[Derivative]

[MG]

[Derivative]

Not fixed.

[HJM]

Offft harsh words!
____________________
"90% of all statistics are made up"

CBT-18/04/2013

[arry]