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A question about insurance for a Keeway TX 125 Super Moto

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Poita
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PostPosted: 18:37 - 05 Jul 2021    Post subject: A question about insurance for a Keeway TX 125 Super Moto Reply with quote

I just bought a new Keeway TX 125 Super Moto.

I tried to do an insurance check on Hastings Direct insurance website.
It couldn't give me a quote when I went through their checklist twice so I called them.

On the phone I went through all the details and the system came back saying the underwriter declined to insure me (or couldn’t offer insurance).

I asked him why and he said they don't say and there is no way to check. It could be anything about the details input.

The form could not find my bike even though the registration number was done two days ago and I already have an email from the gove.uk vehicle of registration confirming it so it’s in the system.

So considering I have a near perfect credit rating and have never had any driving offences or penalties etc but am on a provisional licence and in my 50’s, is there any reason this particular underwriter would decline to insure me?

Based on the comparison sites I do have an offer from others with Carol Nash being the best offer at £246 + £350 excess. That seems a bit high but although I’ve driven for ten years in the USA, I haven’t had a licence here in the UK but did use my UK licence for a year about twenty years ago.

It would be interesting to know why they declined to insure me.
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Fat Angry Scotsman
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PostPosted: 18:56 - 05 Jul 2021    Post subject: Reply with quote

Poita wrote:
Based on the comparison sites I do have an offer from others with Carol Nash being the best offer at £246 + £350 excess. That seems a bit high but although I’ve driven for ten years in the USA, I haven’t had a licence here in the UK but did use my UK licence for a year about twenty years ago.

It would be interesting to know why they declined to insure me.


It's probably because you have an American license. No offence but the bar to entry in obtaining a license in the United States is a lot lower than here in the United Kingdom/ European Union.

Your comment confuses me though, one second you've never had a UK license but then you say you used your UK license for a year about 20 years ago? Wut?

The quote sounds about right for a new rider and is slightly below what I paid for fully comprehensive insurance on my 125cc.
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Prawny
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PostPosted: 21:52 - 05 Jul 2021    Post subject: Reply with quote

It does sound about right, new bikes even affordable ones are much more expensive to insure than older ones because you’re more likely to make a claim if you scuff it badly enough. Also you’ve more than likely got no ncd which helps a fair bit.

My ER6 cost me £148 comp with a £250 excess. The bike is 12 years old, I’m considerably older than that I’ve I've got 2 years ncd from pootling round on my scooter for the last couple of years.

I’m also guessing your US licence will be causing the issue, insurers have all sorts of things that some choose they don’t like, someone else won’t be bothered though, and no doubt if you have no issues in the first year the cost will plummet come renewal time, my first renewal was just over half the price of my first years cover.
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Poita
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PostPosted: 23:56 - 05 Jul 2021    Post subject: Reply with quote

Thanks.

What I meant was, 20 years ago I used my US licence to drive a car in the UK for a year. Then I got a UK provisional licence but the moved abroad so didn't use it.

I'm not sure they will know I had a US licence and drove in the UK but I don't see how it can be more detrimental than having no licence at all.

I guess I just find it annoying that I would pay £2,149 for a new bike then if it got stolen I would essentially be paying £250 insurance for that year plus £350 excess so I would be paying £600 before I get anything in return. You can deduct about £100 as that is for 3d party. So I'll be paying the first £500 on any claim and the insurance company would classify my bike as 'used' so perhaps only value it as £1,500.
So essentially it means I would be paying a third of what they see as the value of the bike.
It seems to me that the principle of insurance is that we all pay a small amount into a common fund then the small percentage of us that need to make a claim for losing property get that property replaced.
I doubt a third of bike insurers need to make a claim every year so even allowing for insurance companies making a profit, it seems extortionate for them to charge every new rider a third of the value of their property.
Even if you ring fence just new riders who are more of a risk, its seems crazy.
I would be fine with the £250 a year insurance but the £350 excess just seems like some made up thing :)

Thanks for the input though. If you think £250 is a reasonable rate then at least I can know I'm not getting gouged any more than the average Joe.
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wr6133
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PostPosted: 07:25 - 06 Jul 2021    Post subject: Reply with quote

Quotes are based on risk. Where do you live? If London that's jacking up your price, somewhere rural with shit all crime can make a huge impact. Supermoto style bikes draw thieves so that probably don't help either.

Also licence, your yankeedoodle ticket cut from the back of a cornflake box probably effects that price. a UK provisional and a CBT may well make the price cheaper. If you are here for more than 12 months you'll need to do that anyway as I'm fairly sure your Licence is held in such low regard you can't exchange it for a UK one.

But welcome to ripoff Britain as you can see the name is well earned.

For reference/a mild wound salting. Me out here in the sticks with a full licence your Keeway would cost me £85 a year TPFT,(that's actually quite pricey my GSXR 1000 is similar price).
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davebike
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PostPosted: 07:34 - 06 Jul 2021    Post subject: Reply with quote

It may be your location but most lightly the US licence We in Britain have had issues with US licence holders and the Ann Scobles event may well have caused Insurence co to look carefully at insuring US licence holders
You may find getting a UK licence makes UK insurance easer and cheaper but the statistics say new rider new bike = claim !
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davebike
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PostPosted: 07:34 - 06 Jul 2021    Post subject: Reply with quote

It may be your location but most lightly the US licence We in Britain have had issues with US licence holders and the Ann Scobles event may well have caused Insurence co to look carefully at insuring US licence holders
You may find getting a UK licence makes UK insurance easer and cheaper but the statistics say new rider new bike = claim !
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Evil Hans
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PostPosted: 07:45 - 06 Jul 2021    Post subject: Reply with quote

davebike wrote:
Ann Scobles


Anne Sacoolas?

OP, you haven't said where you are, but in any city, any off-road style bike is going to be an absolute thief-magnet and insurance will be loaded accordingly.
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davebike
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PostPosted: 07:47 - 06 Jul 2021    Post subject: Reply with quote

Quote:
Anne Sacoolas


yes that is the one Her UK insurers will get one judge claim assuming she was insured And driver fleeing a death by dangerous charge leave little defence !
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Evil Hans
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PostPosted: 07:57 - 06 Jul 2021    Post subject: Reply with quote

She was driving under a diplomatic permit and was insured by an American company, USAA. So shouldn't affect us that much.
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Poita
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PostPosted: 13:10 - 06 Jul 2021    Post subject: Reply with quote

Let me clarify.
I'm a Brit who happens to have lived in the USA for ten year in the 90's.
As they say, 'Yorkshire born, Yorkshire bred, strong in't arm and thick in't head'.

I don't think insurers will know that I had a US licence twenty year ago. They will only see that I had a UK provisional licence since 1999. I just worked abroad again then live in London so had no need of a car so didn't progress.

I now live in a quiet, leafy suburb of Ripon, North Yorkshire so I doubt my location will hit my insurance cost. Maybe if I lived in West Yorks but it's pretty quiet around here.
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