Third Party or Third Party w/ Fire & Theft?

[simonjb]

I have seen a couple of threads here and there about this, but haven't come to a conclusion. I just bought a decent second hand Yamaha YBR 125 for my first bike for £1150, as this is my first bike I obviously have no NCD or anything like that.

The question is this, is it worth getting TPFT over TPO (fully comp is just ridiculous). For TPO it's going to be around £380, and for TPFT it's going to be around £630 (with £500 compulsory, and no voluntary excess). I'm getting a bike chain and disc lock, and plan to fit a DIY clutch switch or something of the sort, but obviously am still worried about it being stolen.

Any advice at all is appreciated, thanks in advance!

[Scotsman37]

Remember if it gets stolen the insurer will depreciate the value of the bike according to age and for average wear & tear except you need recent photos of it being in an immaculate condition to help prevent the value of the bike brought downwards to much according to their insurance guide what is the current value of such a vehicle with a certain amount mileage on it.

Like they say a brand new bike/car depreciates in value just as it leaves the lot!

With excess depending what is required you may lose £100-300 straight off, estimated, due to the excess then they look at the current value with the last known mileage or estimated mileage before it was stolen then you're left with the remaining balance that will be paid back to you which could be as much as the insurance costs you for TPFT or fully comp. So, a brand new or nearly new bike is worth insuring or even used if your premiums were low enough except if it is already high going for basic maybe the better option till you build up a history with the insurer to give the next year a hefty discounted insurance quote on the next renewal.

So, like you said secure the bike a chain & padlock but do install an alarm even if it costs £100 it is worth every penny because the more obstacles you put in front of a bike thief the less likely they will steal it, as they prefer an easy steal to allow them to quickly get away with no fuss!

It is up to you what to do next!

[Nexus Icon]

Do the maths, fella.

£250 extra premium plus £500, excess if it is stolen, means you're getting £400 for your bike in real money if it gets nicked.

It's still short term profit but they'll have that back in increased premiums over the next 5 years, because of the claim you'll make.

IMO, save the £250 and get decent security sorted out.
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Greetings from Shitsville!

[simonjb]

Yeah, I figured as much, just wanted the reassurance, will just save the £250 and spend it on a decent alarm and maybe a tracker.

Thanks for the rapid response!

[Rogerborg]

Indeed, you can buy decent security for that extra £250, and that's a one-off investment rather than pouring it down the insurance sewer. Far better to not have the bike stolen in the first place than to claim on it afterwards.
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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