Insurance Help

Jadc · Trackday Trickster Joined: 05 Sep 2006 Karma :

Hi guys

I've done a quote on the Bike insurer and the best i got was £770 fully comp

Im 19 years old and have bought a KTM DUKE 2002 640CC

Im quite suprised how cheap my quote was but there was a few things i didnt understand i know the bike has a alarm fitted but i dont know what its called or anything.

and also im not sure on what secure markings it has? does any body know if the KTM would have default marking from the factory when sold.

thanks guys,

G · The Voice of Reason Joined: 02 Feb 2002 Karma :

Wouldn't have security marking from the factory.

Sounds fairly expensive for the bike to me, but then it's fully comp.
Any reason for going Fully Comp? Even making a claim for theft may not make financial sense; can see it costing you more to claim than to just take the hit if anything bad does happen.

Jadc · Trackday Trickster Joined: 05 Sep 2006 Karma :

i just want to be fully covered for everything really .... if i went third party fire and theft i wouldnt be covered if i went into someone else would i ? and it was my thought?

i think its very cheap bein so i've been offered £1000+ and at my age ( i live in st leonards east sussex) not best of places

chris-red · Have you considered a TDM? Joined: 21 Sep 2005 Karma :

Jadc · Trackday Trickster Joined: 05 Sep 2006 Karma :

third part fire and theft is £500 and full comp is £700 .... i would rather pay the extra £200 to be covered overall than not to be correct?

Delvey · Derestricted Danger Joined: 02 Jul 2008 Karma :

not too bad
wait til you get a years no claims tho
mine nearly halfed on the nc24

G · The Voice of Reason Joined: 02 Feb 2002 Karma :

Lets say you'd have had Fully Comp... can't see them valuing a Speed Four much over £1500 really, then you'll have your insurance cancelled presuming it's a write off (a couple of months in and this could be equivalent to £600+) and have to pay the excess (probably at least £300), and you'd be down a few hundred thanks to paying extra in the first place.
So I'd reckon you probably wouldn't be much better off really.

I think Fully Comp is more use in an at-fault claim; where you've got a claim going against you anyway, so losing the NCB is less of an issue and you might as well get what you can.