Stolen motorbike - should I make a claim?

[B0ndy]

My bike was stolen yesterday, 5pm broad daylight, three tracksuits ran off with it from outside my workplace.

I've told the Police about it and now need to tell the insurance company, I want to tread carefully to ensure that future insurers don't screw me with massive premiums for making a claim.

I insured the bike (CB400SF) for the value of £1000 when I first took out the policy, after around 15,000+ miles on it I expect it's worth just over half that. Since it's not worth much and I have another bike, should I tell the insurance company about it and make a claim or write it off?

I've been reading up on it this morning and seen that some insurers can accept a claim as a "no fault accident", I've never had to go this before so I'm not sure how that will stand up with future insurers when I take out insurance.
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CBF 125 -> CB400SF -> GSX600F -> ZX6R (G1) -> GSXR1000 K4 -> ZX6R (B1H Stunt bike) -> VFR800 -> R1 5PW -> Sprint 1050 -> Fireblade 929 -> ZX10R C2H -> GSXR1000 K3

[Ste]

What's the excess on your policy?

[NJD]

Stolen yesterday and you're still thinking about what to do?

My first thought is that insurance is going to ask why it's taken so long to phone up and inform them of the situation and second would be how many speeding tickets are you going to get through the post because tiefs have been doing naughty things.
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The do it all, T̶h̶e̶ ̶b̶r̶o̶k̶e̶n̶ ̶o̶n̶e̶,̶ ̶T̶h̶e̶ ̶b̶i̶g̶ ̶l̶u̶m̶p̶,̶ ̶C̶h̶o̶n̶g̶ ̶N̶o̶o̶d̶l̶e̶

[Ste]

[B0ndy]

[ScaredyCat]

[Rogerborg]

Good news, the prices on the CB400SF seem to be rising.

Bad news, you won't get more than the value that you declared.

Worse news, £500 excess, weeks of dicking around, then a loss of NCB and a loss that needs to be declared on every motor insurance policy for the next 5 years.

I think I'd tell them to cancel the insurance as you no longer have the bike. It's completely true, just not the complete truth.

If you want to let the policy run to collect a year's NCB, you could always tell them by post, by which I mean get a certificate of posting something to their address.

InB4 "I pay monthly".
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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

[Ste]

What Roger says about telling them you no longer have the bike and so wish to cancel the policy sounds a good bet.

How many years NCB have you got on that policy? How many months left on the policy?

Have you been out looking for your bike yet?

[B0ndy]

Thanks

I only paid £179 for a year because I have some NCB from when I had a 125.

I have roughly 8 months left on the policy but maybe like you've said it's worth leaving it as it is for the next eight months for the no claims.

I have added a second bike to the policy so ideally I would like to keep the policy until it ends.
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CBF 125 -> CB400SF -> GSX600F -> ZX6R (G1) -> GSXR1000 K4 -> ZX6R (B1H Stunt bike) -> VFR800 -> R1 5PW -> Sprint 1050 -> Fireblade 929 -> ZX10R C2H -> GSXR1000 K3

[Rogerborg]

You want to get the stolen bike off the policy ASAP because if it's involved in a crash, your insurer still has to pay out to 3rd parties but can then come after you for not telling them.

https://www.dailyrecord.co.uk/news/scottish-news/scots-biker-insurance-hell-after-4141840
____________________
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

[Suntan Sid]

To add to what the Borg said, if you do nothing, you will still be the registered keeper, so if the bike's being ridden around by some scumbag, you'll be receiving all his fixed penalties, no matter what you've told plod, because it's easier to catch you out than it is to catch a criminal, they always take the path of least resistance!

Good luck trying to "deregister" a bike, you could of course sell it to a Mr B.Lobby, Wrinkly bottom, etc. etc.!
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"Everybody needs money, that's why they call it money!"

[Monkeywrenche...]

[B0ndy]

Thanks all.

I will get it sorted out tonight.

Please excuse the dumb questions, head is all over the place at the moment - not a good start to the week..
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CBF 125 -> CB400SF -> GSX600F -> ZX6R (G1) -> GSXR1000 K4 -> ZX6R (B1H Stunt bike) -> VFR800 -> R1 5PW -> Sprint 1050 -> Fireblade 929 -> ZX10R C2H -> GSXR1000 K3

[Ste]

There are a lot of stupider questions that get asked.

What was the CB locked up with?

[Rogerborg]

Hmm, belatedly, I am sorry to hear this, and hope you don't get double-penetrated by your insurers over it. I quite fancy a CB400SF, they look like very plucky bikes.
____________________
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

[DylanMitchell]

You should contact your insurance company and file a claim as soon as possible.
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Texas Used Bikes

[NJD]

[goto10]

If OP phoned his insurer and said "Bike stolen, remove from policy please - however, I do _not_ want to claim" - surely he wouldn't need to declare anything for the next five years - isn't it only _claims_ that need to be declared?
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'12 NC700S & '12 CB600F Hornet [Stolen by some dickless twat] Suzuki GT500 shed

[gorillaonabik...]

A guy I know really well had the same situation years ago. This guy couldn't get insurance on his bike because he was temporarily hospitalised in an accident. Someone then nicked it.

Police were informed ASAP, bike was de-registered and he may have forgotten to mention it to the insurance company. Slipped his mind.

A second sportsbike, less than a year old was nicked from this friend and due to circumstances, he was and wasn't insured (messy situation but he received a decent payout - don't ask). Again, insurance was none the wiser although the police were informed and he de-registered it.

Not declaring to the insurance company worked fine. Pointless given the payout.
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FZR400 (blown engine), ZXR750 (blown engine), ZX6R (accident), CBR600 which had engine issues after which I learned to change gear..., CBR900, CBR924 (stolen), CB600, CB1300 (everything blew up), BMW K1300GT (written off, hit from rear while stationary), Bandit 1250 for a couple of months, Triumph Sprint ST 1050 (nicked) and somewhere in there, I wrote off a Ducati 748 at Cadwell.

[Monkeywrenche...]

[Rogerborg]