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£1300 excess?!?!

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j.silvs
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Joined: 01 Dec 2012
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PostPosted: 21:27 - 14 Dec 2013    Post subject: £1300 excess?!?! Reply with quote
Getting renewal prices.

MCE comes out the best at £364 TPFT with the 2nd cheapest coming in at £600

However, the excess is £1300!! It comes with excess protection as stated here:

https://www.mceinsurance.com/PolicyDocs/BD_NilXS_Keyfacts_001.pdf

But I don't get it. Does this mean I won't pay an excess if someone were to make a claim against me or if it got robbed?!

Help!!
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bezzabsa
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PostPosted: 21:29 - 14 Dec 2013    Post subject: Reply with quote
£1300 excess??? you a serial bike crasher or summat???
FFS I moan about £150 on mine
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Ste
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PostPosted: 21:30 - 14 Dec 2013    Post subject: Reply with quote
Can't be arsed to look at the t&c pdf.

You don't pay an excess if someone claims against you, you only pay the excess if you claim from your own policy.
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wots
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PostPosted: 21:37 - 14 Dec 2013    Post subject: Reply with quote
My fire blade policy was the same. £1100 excess with excess protect. TPFT £320 TPO (obviously no excess) was £376.

Read the T&C's and it seems to stack up. Not that I would claim, but there you go.

Also got ride other bikes on the TPFT, was not on the quote but is on the docs.
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stuartt
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PostPosted: 21:57 - 14 Dec 2013    Post subject: Reply with quote
my boys doing his cbt tomorrow as he's now 17 .

he's got a 08 cg 125

mce are the cheapest tpft £380 £1250 excess & £384 £750 excess .

using a almax chain & lock makes now difference to the price .
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anthony_r6
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PostPosted: 22:23 - 14 Dec 2013    Post subject: Reply with quote
3rd Party only seems the best for me and any bike I run a quote on. Given that I wouldn't claim on a low-priced (£1,000-£1,500) bike anyway, it seems pointless going for fire and theft, you'll only end up paying it back over the next few years.
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Ste
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PostPosted: 22:34 - 14 Dec 2013    Post subject: Reply with quote
stuartt wrote:
using a almax chain & lock makes now difference to the price .

And everywhere he goes, he's going to lock it up with the Almax chain?
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wots
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PostPosted: 22:36 - 14 Dec 2013    Post subject: Reply with quote
Ste wrote:
And everywhere he goes, he's going to lock it up with the Almax chain?
Which is precisely why I never quote security devices, though I may have alphadot, datatag or a big bastard with a shotgun guarding it I'd never tell the insurance as they would always expect it. But as above, bike is worth a tad over a grand. Sadly, not worth claiming on TPFT, only went TPFT because it was cheaper.
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stuartt
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PostPosted: 22:38 - 14 Dec 2013    Post subject: Reply with quote
if a bike gets stolen & you only have third party will your premium go up the next year even if the insurance company didn't have to pay out ?
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stuartt
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PostPosted: 22:41 - 14 Dec 2013    Post subject: Reply with quote
Ste wrote:
stuartt wrote:
using a almax chain & lock makes now difference to the price .

And everywhere he goes, he's going to lock it up with the Almax chain?


true , thats prob why it wouldn't make a difference to the price he got quoted Very Happy
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Ste
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PostPosted: 23:04 - 14 Dec 2013    Post subject: Reply with quote
stuartt wrote:
if a bike gets stolen & you only have third party will your premium go up the next year even if the insurance company didn't have to pay out ?

Maybe, but only if you told them.
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stuartt
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PostPosted: 23:34 - 14 Dec 2013    Post subject: Reply with quote
Ste wrote:
stuartt wrote:
if a bike gets stolen & you only have third party will your premium go up the next year even if the insurance company didn't have to pay out ?

Maybe, but only if you told them.


the prob these days is eveything is linked from 1 computer to another so if the police know you had a bike stolen .....

& if your bike gets stolen & you don't report it then .... anything could happen , speeding , robbery ....
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Shaft
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PostPosted: 01:52 - 15 Dec 2013    Post subject: Reply with quote
stuartt wrote:

the prob these days is eveything is linked from 1 computer to another so if the police know you had a bike stolen .....

& if your bike gets stolen & you don't report it then .... anything could happen , speeding , robbery ....


If you're TPO and report a stolen bike to the cops, but not to your insurance, I can't see you're doing anything wrong.

Why do they need to know, you can't claim from them, so don't tell them.
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Ste
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PostPosted: 01:59 - 15 Dec 2013    Post subject: Reply with quote
British Insurance Brokers' Association - "It's important that you inform your broker of all incidents of damage or loss, however small, and even if you do not make a claim for them. There have been cases where insurance companies have refused to meet claims because the driver failed to disclose previous incidents."

So you're meant to tell them, but of course whether you do or not is up to you.
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sabian92
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PostPosted: 14:01 - 15 Dec 2013    Post subject: Reply with quote
Ste wrote:
British Insurance Brokers' Association - "It's important that you inform your broker of all incidents of damage or loss, however small, and even if you do not make a claim for them. There have been cases where insurance companies have refused to meet claims because the driver failed to disclose previous incidents."

So you're meant to tell them, but of course whether you do or not is up to you.


Then they whack up your premiums anyway even if you don't claim so fuck that Thumbs Down
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Polarbear
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PostPosted: 14:04 - 15 Dec 2013    Post subject: Reply with quote
stuartt wrote:
my boys doing his cbt tomorrow as he's now 17 .

he's got a 08 cg 125

mce are the cheapest tpft £380 £1250 excess & £384 £750 excess .

using Doesa almax chain & lock makes now difference to the price .


Does it fuck
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ninja_butler
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PostPosted: 14:57 - 15 Dec 2013    Post subject: Reply with quote
I read this this morning. Kind of interesting: https://www.telegraph.co.uk/motoring/news/10478496/Car-insurance-myths-busted.html
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Al
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PostPosted: 15:04 - 15 Dec 2013    Post subject: Reply with quote
Ste wrote:
stuartt wrote:
using a almax chain & lock makes now difference to the price .

And everywhere he goes, he's going to lock it up with the Almax chain?


I think with some security items you can state that they will only be used when the bike is at your home address.
My bike is insured as garaged, with a ground anchor and chain but obviously only when at the home address.
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0l0dom0l0
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PostPosted: 12:56 - 16 Dec 2013    Post subject: Reply with quote
It's never particularly bothered me having a high excess on any of my policies for the bike or the car.

I wouldn't claim on the insurance if my bike got stolen, wouldn't claim if I crashed it, the only time someone would claim would be if I hit them, and well that's tough shit really.

Having a high excess really doesn't matter unless you crash which I don't plan to do so.
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dydey90
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PostPosted: 13:20 - 16 Dec 2013    Post subject: Reply with quote
I think the point of having a huge excess is to stop people from claiming. £1000 bike and £1300 excess? You'd be down by £300 before you started, so you wouldn't tell them and they wouldn't ever have to pay out.

Basically, you've insured yourself against people hitting you.
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sabian92
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PostPosted: 13:21 - 16 Dec 2013    Post subject: Reply with quote
dydey90 wrote:
I think the point of having a huge excess is to stop people from claiming. £1000 bike and £1300 excess? You'd be down by £300 before you started, so you wouldn't tell them and they wouldn't ever have to pay out.

Basically, you've insured yourself against people hitting you.


In which case you may as well save yourself a shedload of money and buy 3rd party insurance anyway.
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Walloper
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PostPosted: 13:47 - 16 Dec 2013    Post subject: Reply with quote
Ste wrote:
Can't be arsed to look at the t&c pdf.

You don't pay an excess if someone claims against you, you only pay the excess if you claim from your own policy.


this ^^^... and if you do not recover your 'Uninsured Loss'.

You can still claim on your own policy and to pay for your repairs but counter claim the third party for damages.

You only need to satisfy your own insurers that they do not pay for the claim on your policy.

Not really complex but made so by cheating robbing bastarts.
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fatjames
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PostPosted: 14:03 - 16 Dec 2013    Post subject: Reply with quote
stuartt wrote:
if a bike gets stolen & you only have third party will your premium go up the next year even if the insurance company didn't have to pay out ?


I remember this from doing pet insurance, a long time ago. Premiums are made up of - Risk of claiming + claim value + profit.

So even if you're not insured or even not making a claim, something like a theft will put your premiums up. Your risk has changed.

Obviously, this is not the exact science used, the algorithms are probably much more complex, but this gives you an idea.

HTH
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Walloper
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PostPosted: 14:07 - 16 Dec 2013    Post subject: Reply with quote
fatjames wrote:
stuartt wrote:
if a bike gets stolen & you only have third party will your premium go up the next year even if the insurance company didn't have to pay out ?


I remember this from doing pet insurance, a long time ago. Premiums are made up of - Risk of claiming + claim value + profit.

So even if you're not insured or even not making a claim, something like a theft will put your premiums up. Your risk has changed.

Obviously, this is not the exact science used, the algorithms are probably much more complex, but this gives you an idea.

HTH


More precisely it is put:

'If you fly with the crows you will be shot with the crows.'

Very Happy
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arry
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PostPosted: 16:30 - 16 Dec 2013    Post subject: Reply with quote
Ste wrote:
British Insurance Brokers' Association - "It's important that you inform your broker of all incidents of damage or loss, however small, and even if you do not make a claim for them. There have been cases where insurance companies have refused to meet claims because the driver failed to disclose previous incidents."

So you're meant to tell them, but of course whether you do or not is up to you.


Not necessarily. You need to read the question that's asked and act accordingly. Nowadays the insurer cannot rely on duty of disclosure in the way they could in the past - years ago the insurer would say 'but it should have been obvious that we wanted to know that' but that doesn't wash any more; now it's 'if you've asked the direct question, and got a direct truthful answer, anything either side of the line is fair game'.

For example, my proposal is worded 'have you any accidents or losses which may give rise to a claim under any of the covers proposed?' If I'm not insuring for theft, then I'm not proposing theft covers, ergo it's not a non-disclosure issue.

An example of this is the FOS direction case study here:
Quote:
insurer refuses to pay claim for theft of car because consumer had not disclosed the modifications made to his vehicle

Mr T’s car was stolen from the street where he parked it while he was visiting his local gym. He put in a claim under his motor policy and later told us he was ‘totally shocked’ when his insurer
refused to pay out.

The insurer said it was clear from the information Mr T provided in his claim that the car had been modified. However, he had never notified the insurer of any modifications and he
had answered ‘no’, when asked on the proposal form if he had modified or altered the car.

The insurer had therefore ‘voided’ his policy (in effect treating it as though it had never existed) and it told Mr T he was not covered for the theft. Mr T complained that he was being treated unfairly, but the insurer would not alter its view, so he came to us.

complaint upheld
Mr T confirmed that he had added ‘a satnav unit, Bluetooth kit, Playstation and CD changer’. However, he said he regarded these as ‘simple additions, not modifications’. We looked at the proposal form that Mr T had completed when applying for his policy. This included a question headed ‘Modifications’, asking if there had been ‘any changes to the engine, plus any cosmetic changes to the bodywork, suspension, wheels or brakes’. Mr T had answered ‘no’.

We accepted the insurer’s point that the changes Mr T had made could well have made his car more attractive to thieves. However, there was nothing on the proposal form to indicate that it considered changes of this type to be ‘modifications’. We did not see that Mr T could reasonably have been expected to know, from the examples given by the insurer, that he should have answered ‘yes’ to the question about modifications.

We upheld the complaint and said the insurer should settle the claim in line with the usual terms and conditions of the policy. We said it should also add interest, from the date when the car was stolen to the date when the claim was settled.
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