Trying to decide whether to go from fully comp to TPF+T

[GhostRider]

Afternoon all,

My insurance is up for renewal in two days. Last year I paid £400 in a single payment for fully comprehensive insurance with free breakdown recovery on a CBT/provisional licence, with me being 23 at the time and 0 years NCD on a 2001 NSR 125 RR from Ebike insurance.

They have given me a renewal quote of £261, which isn't bad at all, but just as I was about to click "renew" I wondered to myself whether fully comp is really necessary, as it would save me £100 going third party fire and theft, and also when reading the policy wording it seems that despite stating you as being fully comp, they dont really want to pay up cash for anything unless the engine itself blows up via their long list of exclusions. Not to mention that I also include a voluntary excess of £200 in that, and if the bike isnt garaged between certain hours at night then its a £350 excess.

Also, I can't help but think I might be missing a trick here, as I turn 25 on March 1st, and if I remember correctly insurance premiums tend to drop once you hit 25.

So firstly, do you think it's worthwhile dropping to 3rd party fire and theft, and secondly, since the insurance is up before I turn 25, how could I go about taking advantage of the premium drop whilst still being road legal?

Cheers,

GhostRider
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I have all the characteristics of a human being: blood, flesh, skin, hair; but not a single, clear, identifiable emotion, except for greed and disgust. Something horrible is happening inside of me and I don't know why. My nightly bloodlust has overflown into my days. I feel lethal, on the verge of frenzy. I think my mask of sanity is about to slip.

[Kal]

I personally ended up reducing my cover because it wasn't worth it on a Q plate bike. I have 'saved' more than the bike is worth.

If it goes tits up then I am out a bike and will have to find the money myself, but it's a risk that curently makes economical sense. So you aren't alone in thinking like this.

Secondly: You are right, one of my friends waited until his 25th Birthday to buy his FireBlade because the insurance because reasonble.

Of course waiting gives you a gap of a month. I'd suggest: eBike pay as you go.
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Kal...
I Like To Hoon It Hoon It I Like To Hoon It Hoon It I Like To Hoon It Hoon It Ya Like To (HOON IT!).
1984 GB250 Clubman,1983 CB250N Superdream, 1999 GPZ500S

[Kwaks]

You need to recheck your exesses.

If the bike is stolen ungaraged between certain hours and you are hit with an increased theft xs, then chances will be that will also apply to a TPFT quote. This must be disclosed by the insurance broker/intermediary.

The real question is can you afford for them not to pay out in a claim? ie can you go out and buy another bike?

As for the premium drop at 25, simply do some online quotes to compare the differance. It often makes little or no differance. When differences are noted it is usually because a different underwriting company is willing to quote, if you are already being quoted them then the difference might be negligible.(YD xs keeps this in check).

You mention a voluntary xs of £200. What is the compulsary xs on the policy as it also applies and is added to the vouluntary. At 24 you also (until turning 25) have the privaledge of being hit with a young rider/drivers xs, also to be added to the voluntary & compulsary.

The exclusions on the policy may seem like they are not willing to pay out for much, but remember insurance companies repair with new, most bikes are written off with what is usually fairly minor cosmetic damage in the scale of things.

End of the day though, its all a gamble
____________________
Fallen Angel "Nae sniffing my seat now!!!!! "
www.cliqueycuntsmcc.co.uk
I AM NOT A FAST RIDER!!!!!!!!!

[Kwaks]

You need to recheck your exesses.

If the bike is stolen ungaraged between certain hours and you are hit with an increased theft xs, then chances will be that will also apply to a TPFT quote. This must be disclosed by the insurance broker/intermediary.

The real question is can you afford for them not to pay out in a claim? ie can you go out and buy another bike?

As for the premium drop at 25, simply do some online quotes to compare the differance. It often makes little or no differance. When differences are noted it is usually because a different underwriting company is willing to quote, if you are already being quoted them then the difference might be negligible.(YD xs keeps this in check).

You mention a voluntary xs of £200. What is the compulsary xs on the policy as it also applies and is added to the vouluntary. At 24 you also (until turning 25) have the privaledge of being hit with a young rider/drivers xs, also to be added to the voluntary & compulsary.

The exclusions on the policy may seem like they are not willing to pay out for much, but remember insurance companies repair with new, most bikes are written off with what is usually fairly minor cosmetic damage in the scale of things.

End of the day though, its all a gamble
____________________
Fallen Angel "Nae sniffing my seat now!!!!! "
www.cliqueycuntsmcc.co.uk
I AM NOT A FAST RIDER!!!!!!!!!

[Kal]

kwaker6r's advise - so good it is posted twice!
____________________
Kal...
I Like To Hoon It Hoon It I Like To Hoon It Hoon It I Like To Hoon It Hoon It Ya Like To (HOON IT!).
1984 GB250 Clubman,1983 CB250N Superdream, 1999 GPZ500S

[Bat]

I went to TPFT at renewal time this month. Fully comp was £360ish compared to £170ish for TPFT on my Hornet 900.

I don't ride in bad weather anymore and don't rely on the bike as my only form of transport. It's not worth a fortune so as far as I'm concerned the likelihood of me coming out better off after a claim with fully comp is slim.

[GhostRider]

Cheers guys,

After a bit of research it appears thats as cheap as its going to get without dropping to TPFT - I'd like to save the £100 but no, I couldn't afford a new bike should I write mine off.

Theres about a £40 price difference between stating im 24 or 25, however the PAYG tariff works out to about £36 for the time in between, so difference is neglible.

Ah well, spose this should prompt me to get my finger out and get my DAS on the go since a full licence should help my premium more so.

Thanks again,

GhostRider
____________________
I have all the characteristics of a human being: blood, flesh, skin, hair; but not a single, clear, identifiable emotion, except for greed and disgust. Something horrible is happening inside of me and I don't know why. My nightly bloodlust has overflown into my days. I feel lethal, on the verge of frenzy. I think my mask of sanity is about to slip.

[BenR]

I'm surprised by the differences some have been quoted. Everytime I get a quote for motorcycle insurance there's very little in it between FC or TPFT. My recent quote was £92 FC or £73 TPFT.
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Current bikes: suzuki RG125UN wolf. Yamaha MT-07

[Bat]

[multijoy]

Biggest variable is going to be the postcode, I would have thought. Not so much crime rate as claim rate for the area.
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'11 CBF1000A, '99 C90, '98 CB500
silky666: He rode amazingly well considering his bike is the weight of a small van and had slicks on.

[Polarbear]

Of course age is a big thing, but also a huge amount is down to the type of bike - I put an old ZZR1100 on the same policy as my wing, cost me £25 admin fee. Put my Hayabusa on, cost me an extra £200. When I asked why they said its a Hayabusa, drop it and its written off.

I firmly believe there are only 2 reasons not to be fully comp. The fees are more than the bikes worth or you can afford to replace it if you totally wreck it. Other than that - fully comp or sod#s law says you will at some time be sitting with a pile of scrap and no hope of a new bike.
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Victory Cross Country American tractor.

[G]