Stuck on a 125, insurance moan.

[Cyclingbiker]

I had my hopes of purchasing a larger bike after passing my Mod 2 dashed today. It's not like I am in any position to buy anything right now but I was hoping to have something with more cc's by mid-summer sometime.

I took my policy out with CIA insurance in late September for my CG125. I passed my Mod 2 in late November and proceeded to tell CIA of my licence change and to add pillion cover to my policy, no extra charges we added. I did enquire about upgrading to a larger cc bike, I said I was only asking to see if it was possible to upgrade and I was told that it was by the lady on the other end.

Fast forward to today, I had seen a lovely Suzuki SV650 for £1850 in the local dealership which I absolutely adore and want but was unsure about insurance. I rang CIA today to check what the cost would be to change the bike on my policy to the SV (I haven't bought it yet so don't worry). I filled in all of the details of the bike over the phone and was told by the lady, after speaking to her manager, that it was impossible for me to add a larger bike to my current policy. This is because Aviva, who my policy is with, is on a scheme which only allows UPTO a 125!

They said I could cancel and take out another policy with them to avoid cancellation charges and keep my 1st year of NCB but the quote was something stupid in the region of £900 for TPO!

I really can't afford to cancel and incur cancellation charges and losing my NCB, I really could do with something to bring future policies down with me just about to turn 21 and having only recently passed. For these reasons it out of the question until my policy expires in September. I guess until then I will be limited to my CG, unless I can afford another 125 with perhaps some more POWAH!!!!

A Honda Varadero or an unrestricted NSR 125 or Aprilia RS 125
____________________
Honda CB500s (1999) - Honda CG 125 BR-J (1991)

Mod 1 - Passed - 12/11/12 --- Mod 2 - Passed - 26/11/12

[LockyUK]

i had the same issue in october last year with mce, i wanted to change to a brand spanking er6f abs, and they would not let me !! so i couldn't get the bike

[Rogerborg]

Telt ye so. The fucktards at the broker will tell you any old bollocks, you don't know the real story until it gets to the underwriter. It's a sadly common tale, and illustrates why going for the lowest quote can end up costing you a packet later.

eBike is my preferred insurer because I don't mind spending £20 up front to save multiples of £40 later, with the added bonus of being able to do everything online right through to the "click to confirm", so that I can cut out the middle tard.

Anyway, that's hindsight. Looking ahead, have you comparison shopped on the SV with 0 NCD? Do yourself a favour and don't list it as restricted, that's a "modification" which will put the price through the roof (unless you try eBike...).

You've got at least £1850 to spend, I'm pretty sure you can get a nice bike and insurance for that.

As to the insurance on the CG, walk away from it. Ask them which way they'd want money to go if you cancel. If it's your direction, fine. If it's their direction and more than 50p, then send them a postcard with a dirty limerick on it, get a free certificate of posting, and forget about it. You informed them in writing to cancel, and you can prove it.

Boils your piss, doesn't it?
____________________
Biking is 1/20th as dangerous as horse riding.
GONE: HN125-8, LF-250B, GPz 305, GPZ 500S, Burgman 400 // RIDING: F650GS (800 twin), Royal Enfield Bullet Electra 500 AVL, Ninja 250R because racebike

[Squircle]

I genuinely do feel sorry for people in their early 20s nowadays, insurance is just ridiculous.

I'm 32. Fair enough I have 11 years no claims on my car insurance but only 1 year on my bike insurance. I did my CBT in July 2011 then DAS in July 2012. Yet I can insure a Street Triple and a CBF 500 for £600 on the same policy, £300 less than your TPO quote.

Now I understand that statistically you are a much greater risk because of your age, but for all anybody knows you could be a better biker than me; we've both been trained and passed at the same level after all. And there are plenty of older guys who have a mid life crisis, do their DAS then go out and buy the fastest sportsbike they can afford that's way beyond their ability.

You know what I'm not even sure what point I'm trying to make, I just think the prices that young folk are getting charged for insurance is getting way out of hand.
____________________
Current: Triumph Street Triple ABS (2016)
Honda NX700x (2013)

[mr-jermy]

why have you gone for your insurance via an aviva tp company, they charge an arm and a leg, i would never go with aviva and i work for them lol they wanted to charge me £1000 roughly for my ns125rl and that was just tpft adn was with 35% staff discount!

[physical]

know they are not quite as nice and shiny as newer stuff but there are quite a few RF600s on biketrader going quite cheap
____________________
GSF 1250S GT

[Cyclingbiker]

Quoted with eBike to see the difference in price, TPFT is £836 and TPO is £624 so much less than CIA are quoting but still a little excessive.

I am just not going to bother until my policy ends. I need the NCB to get any sort of decent quote and the fact that I pay monthly for my policy means that I will be likely stung for fees if I cancel. It's not like I have any sort of money at the moment any way to buy a bike but was hoping to have something bigger sooner rather than later
____________________
Honda CB500s (1999) - Honda CG 125 BR-J (1991)

Mod 1 - Passed - 12/11/12 --- Mod 2 - Passed - 26/11/12

[Rogerborg]

https://www.thebikeinsurer.co.uk/ usually comes out pretty cheap.

[Cyclingbiker]

[Derivative]

[G]

[Richy CB1000]

I understand the issues both ways but with the competition in insurance they really aren't welcoming your custom.

Probably best in the long run, sit tight pay up, learn about companies for your next policy where you'll at least have NCB.

Mine's going up from £62 to £74 fully comp, CB1000, I will be complaining!

[Cyclingbiker]

Wow surprisingly the cancellation charges on my policy do not stack up to be anywhere near what I was expecting

I called up CIA to find the exact reason why I was placed on a policy for a maximum of a 125 and got told that they automatically pick the cheapest scheme from the underwriter and it happened to be that my scheme was cheapest. So there we go.

Did call Aviva directly beforehand to see if they could do anything but was told it was not their problem and it was all to do with the broker (CIA).

Anyway the cost of cancellation with CIA currently stands at approximately £185 (6 months of repayments and cancellation fee) but I would stand to get £165 back as a refund from the insurance so I would end up having £20 or so left to pay. Not bad at all financially and as I said miles better than what I was expecting from a pay-monthly policy after all I have heard about insurers

Still I stand to lose my 1st year of NCD which I'd receive in September and would mean that I would continue getting stupid quotes from insurers to cover something like the SV650. Quotes are currently in the region of £800 for TPFT and £600 for TPO for me with o years NCD, which IS still waaaaayyyy more than I have to hand currently. Finances aren't looking too rosy in medium term as I am not full-time at my current workplace and will have to wait out my probation out until I get taken on.

I guess it will be a case of keeping the cancellation charges in mind for now, also written down for future reference, and seeing what it is like in a few months time when (hopefully) I will be in a better position to buy a new bike
____________________
Honda CB500s (1999) - Honda CG 125 BR-J (1991)

Mod 1 - Passed - 12/11/12 --- Mod 2 - Passed - 26/11/12