Fire & Theft - Is it actually worth it at this cost?

[notbike]

tl;dr Switch to TPO, save ~1k/year until premiums drop, invest in moar security, good idea yay/nay? why/why not?

Been thinking,

I can save roughly £1k on my insurance policy if I switch from Fire & Theft to Third Party Only. This would be the case for the next couple years because until then I don't get any significant drop in insurance premium (carried out a few hypothetical comparisons).

The idea is that I'd switch to TPO, save a bunch of the money, and invest some of that money in additional security (Almax series 5 is coming out, ground anchor and a GPS tracker etc) instead of blowing it every year on theft coverage just in case it gets nicked.

Truth of the matter is, if the bike is stolen and I claim, regardless of the payout I get from insurance, I can't own a decent bike again because I live in London & insurance rates skyrocket if bike is nicked making it impossible to afford purely on the basis of hiked up insurance premiums. I'd have to downgrade to a ten plus year old SV650 or something.

My mates are telling me "No, dumb, theft coverage for a new R6 in London is necessary" but after much thought I'm not seeing the point of theft coverage at this cost?

If they can get through an Almax Series 5(can order these by phone now, 22mm chain like the Pragmasis Titan) as well as a Series 4, or the lamp post, two disc locks, and an alarm that WILL let me know even if I'm asleep because them fiddling with the two covers will trip it, then they will have the bastard thing regardless.

This is what I did on the Ninja 300 anyway, but this bike is worth double that bike & is arguably more desirable to thieves, so I dunno, need some external input.

Thoughts?

[arry]

What's the bike worth?
What's the excess?
How much spare cash do you have for if it goes missing?

[DJP]

It's expensive because there's a high risk of it actually happening.

I've gone TPO in the past when I've had cheap shitters and no intention of ever claiming.

The only time I'd do it now is if I bought something horribly unfashionable for cheap and then gave it a matt black paint job.

Then I'd chance it.

But a decent R6 in London is going to get nicked.
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[Wonko The Sane]

I'm 3rd party only but the bike is only a ZZR600, it's fairly replaceable if it's a dead loss at any time.

I keep at least £1000 tucked away in a separate savings account at any one time incase the fridge / freezer / washing machine etc goes pop, likewise if the bike's ever a dead loss as the rise in insurance (as you're aware) makes it not worth claiming.

I can get the bus and two trams to work for a day or two if needed, if I've been in a crash I'm probably not going into work for a day or two anyway.

Are you reliant on the bike for your job or can you get there without it if the worst happens?
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[notbike]

@DJP the thought that an attempted theft is inevitable is unnerving. That's the ONLY thing keeping me from going TPO atm.

@arry

Bike's worth 8k excluding any mods.

Excess £950

Roughly £5k, so about enough to replace it with a decent 08+ model if the worst happens (But won't be able to insure it )

@Wonko The Sane

"If the bike's ever a dead loss as the rise in insurance (as you're aware) makes it not worth claiming." - This is the bit that makes me think that theft coverage ain't worth it. As you said, I could just pop that extra money in the bank and have enough to replace the fucker without claiming (claiming would effectively end my ability to go biking for a couple years. Regardless if it pays out.)

Nah I don't commute with it. I can walk to work in two minutes (inb4 lucky for some) but I don't have an alternative vehicle. Public transports fine as a temporary measure. I'd just get a scooter if I REALLY needed to get around.

[mkjackary]

By the sound of it you have already made up your mind. You have a brand new R6, that is worth a big chunk of money. So worth around 10k. (correct me if I'm wrong).

If I were you, along with everything you have said, I would invest in one of these, 130 quid a year plus a hundred or so for the unit, but from what I have heard it is one of the best you can get. 98% theft recovery which is pretty good, and they actually send people out. If I had a bike worth more than the unit I might get one

Would you be keeping it out on the pavement or in a shed/out of sight?

[trevoriv]

Sell it.

Tracker isn't actually a bad idea but a decent one will set you back a fair few hundred quid including 12 months subscription.

Out of interest is comprehensive cover much more than tpft?
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[notbike]

[SuperMike]

Comes down to your appetite for risk I guess. I insured my new bike TPF&T because it made about a grand difference, but I wouldn't have gone to TP only. Nobody has had a serious go yet, but I've had numerous times where I have come out the front door to find my indicator snapped off, my bike cover gone (x 3 - wasn't the wind as was strapped under the bike), Mirrors bent, next doors bike pushed over onto mine but thankfully didn't take mine with it. It has been a pretty endless deluge of vandalism the past 18 months. I think they are just out for laughs, but I'm sure they know people who would come whisk it away if there was money in it.

I have the usual data tag type stuff, an Almax which is anchored to a lamppost every night, tracker, immobiliser and alarmed front disc lock to boot all under a cover, so as with you, they're not having it easy, but I've seen enough chavs with portable disc cutters on youtube to know none of this is infallible. The satellite tracker for me is well worth it - £100 a year but I can login anytime and see exactly where my bike is. From having the scooter stolen a couple of years back, they seem to leave them lying around for a day or two before doing anything with them, so that is when the tracker gives me peace of mind that I will likely find it.

For me on a 10k bike, I would go TPF&T as then it's down to me if I lose my money - i.e. being a dick and doing a wheelie into a skip or something, but I certainly wouldn't risk TP only in London at least - bike crime capital of the world!

[ZX-7R]

[M.C]

Maybe if I never parked it on street and had somewhere really secure to keep it. Personally I've always gone for the cheapest policy (whether it be TPO or F&T) but with a bike like that you would want to claim if it got nicked.

[notbike]

Yeah that's true. If I lived on the ground floor I'd bloody wheel it through the front door, but I live on the first floor should develop a winch system to lift it onto the balcony. It'd fit there actually lmao.

I'm not feeling risky enough to TPO it though because I'm at work 40 hours out of the week so I can't really babysit it.

London is a cunt, why are garages like twenty thousand pounds down here?!

[ZX-7R]

Have lived in London in the past and its a cunt mate.If i lived there now i doubt i would own a bike,just not worth the risk unless you have secure parking.Glad i live in a quiet Berkshire cul-d-sac now.
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[M.C]

[notbike]

Yeah ahha I mean I don't plan on sticking around here anyway, as much as London is home I can't wait to fuck off somewhere quiet

[Dave70]

[Rogerborg]

The London pikeys are just having bikes away in broad daylight now, angle grinding through any chains and locks, zero fucks given.

[ScaredyCat]

[notbike]

[Mawsley]

[notbike]

Hmmm.. Alright taking everything on board here, I'll stick with Fire & Theft.

Tpo is too risky when you factor in where I live. Have to stop being a cheapskate.

Cheers for your input lads.

[Dave70]

[notbike]

[arry]

Does the bike ever venture outside of the m25 to anywhere worth riding to?

[notbike]