pay as you go insurance vs standard cover

iamspim · L Plate Warrior Joined: 15 Nov 2010 Karma :

I have a suzuki ay 50 wr and due to driving convictions I aquired 2 years ago the cost of the insurance is quite high and ive chosen to go third party only, due to that and the fact its a shitty ped that cost me a couple hundred quid.

A standard quote third party only comes to 550 which works out at 100 deposit then 60 odd quid a month for the rest of the year.

Pay as you go cover from the same company costs me 60 quid a month, i get 1 years NCB in 8 months, no deposit and there is no mileage restriction in the policy.

The company is eBike Insurance, the only company that will give me a sensible quote with my convictions.

Is this as good as it seems or am i missing something?
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Paxovasa · World Chat Champion Joined: 25 Apr 2010 Karma :

I have used the PAYG cover and never had a problem with it.

I bought a second bike and rather than add it onto my existing policy, I got a PAYG cover until my first bikes insurance ran out. then I just got a multi bike policy.

Go for the the cheapest. Thumbs Up

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schooleydoo · Trackday Trickster Joined: 31 Mar 2009 Karma :

My insurance for the past two summers have been with eBike PAYG.
Its great for fairweather bikers like me Very Happy

On a SR125 I was only paying £23 a month though....

elky · Renault 5 Driver Joined: 05 Aug 2010 Karma :

Will they port the NCB to another insurer though?
I've heard of people having problems in the past with these accelerated ones.

So you get 1 years NCB after 8 months, but only if you re-insure with them. If you go to another insurer you still have 0 NCB.

iamspim · L Plate Warrior Joined: 15 Nov 2010 Karma :

Having done more research the basically non-transferable NCB makes it barely worthwhile as after the 8 months the quote is much more expensive the second time around, when I could wait four months more and save a few hundred quid using a different provider.

Cheers for pointing that out.
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