Insurance Problem

distortion · Nearly there... Joined: 08 Mar 2005 Karma :

Ive got insurance on my old nsr which i want to transfer the bike to the mrs's zxr, now the insurance broker have said that they wont do it.

Apparently this is because the zxr is legally owned by my other half and she has her own policy.

Is this right ? The guy on the phone said something about negative equity on the bike as any claim made, the insurers wouldn't know who to pay out to.

He said to put my name as a named rider on her policy, but i loose my no-claims bonus that way, and i ride it more often than the mrs does.

Dont want to have it in my name and her as the named rider because then she will loose her no-claims

So does anyone insure a bike but not own the bike - have the V5 document in there name ?

The broker is Biketeam & my insurer is Equity Redstar

All help grateful as i dont want to loose my no claims

feef · Energiser Bunny Joined: 11 Feb 2002 Karma :

this is true... a vehicle can only have one policy on it. Saves on people delivberatly double insuring and then deliberatley accidentally crashing and claimung twice.

a
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dave1rs · Trackday Trickster Joined: 03 Dec 2004 Karma :

can you not just buy a ratbike,cheap moped for say 50 quid..cheaper if you can and insure that.....just remember to declare it sorn so you dont have to pay road tax,least then you will build up more no claims.

ash t · World Chat Champion Joined: 15 Dec 2004 Karma :

You need to have your own policy to use your NCB.

Its something which i came across when getting insured on my dads car. if i had my own policy, i cant have him and his NCB on the policy.
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Kickstart · The Oracle Joined: 04 Feb 2002 Karma :

Hi

Yes you cannot use you NCB on it.

What you can do is insure a cheap rat to keep your no claims.

Also most companies will allow you to keep you no claims for a year or so even if you have not had a policy.

All the best

Keith
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Ste · Not Work Safe Joined: 01 Sep 2002 Karma :

Get them to change it to TPO as well, I can't see how there could ever be a problem as long as the policy is TPO, whoever was riding it and crashes would have a claim against them, if you crashed the bike then where would your mrs's insurance even come into it as yours would be an entirely seperate policy. Confused

mrchips · World Chat Champion Joined: 05 Mar 2004 Karma :

When I get my 400/500/600 in July the plan is to insure it monthly, then in October, insure the likes of a CG125 so I am still getting my no claims but I'm snug in a car Smile

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Kickstart · The Oracle Joined: 04 Feb 2002 Karma :

Mrs Kickstart · Brolly Dolly Joined: 06 Apr 2004 Karma :

Hi,

You can't insure the the same bike twice but you do not have to be the register keeper/ owner if it really you mrs as opposed a girlfriend at another address. However the proposer should be main user but its a bit hard to prove.

You do not need have a continuous insurance, you have between 1 and 3 years to use the NCB on another policy but this is complete years so if you have 3 years and 6 months now its only the 3 years that move forward.
You make your policy laid up ?, is it because you want to ride the ZXR, in which go for a named rider.
Or as suggested insure any old junk, it does not have to MOT, taxed or roadworthy to insure it. However if you do this and use the cover to rise bike you dont own they might (will) get a bit funny with you if you need to make a big claim. but is just to park the NCB all will be well

HTH

C

rizo9 · Nova Slayer Joined: 04 Jun 2004 Karma :

technicaly you can only insure something you own,

saying this some insurers do not mind if its husband and wife.

Ste · Not Work Safe Joined: 01 Sep 2002 Karma :

Kickstart · The Oracle Joined: 04 Feb 2002 Karma :

Hi

But the bike is insured twice, and both are covering the risk.

OK, better example. Bike is parked in town and falls over. Domino effect it knocks over 20 other bikes. Nobody riding it at that moment, and 2 companies insuring the bike.

All the best

Keith
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