£1600 Insurance for a 125!

[Snorty]

We're just looking for insurance on a Honda NS125F for my friend.

He's 19, got a CBT, he had his previous bike (TZR 125) stolen from his back garden, it must've been stolen by two or more guys as it took two of us to get it out due to the angle it had to come out at.

He (or I) didn't realise at the time that claiming for the theft wasn't worth it in the long run, but he's really paying for it now - he got paid out £500, but he'd only had his policy for a few months so they paid him £500 then asked for the remaining policy amount which was close to that anyway.

So here we are just under a year later, and his cheapest quote for THIRD PARTY ONLY is £1600!

I find it infuriating that some little scrote can help himself to your things, get away with it (never found the bike) then affect your life for the next 5 years. Insurance companies, license to print money.

TL;DR - Does anybody know how he might get his quote down at all? Seems hardly fair to be priced out of your own transport and forced to use buses by this. I dread to think how much car insurance would be!

Cheers guys

[tvchimp]

Get a small metal shed to keep the bike in, have a ground anchor fitted inside that to chain the bike to with a disc lock on. then add multiple locks on the door to the shed (this wont affect the insurance quote, but will make it harder to break into the shed).


That should bring it down by quite a bit. But, you've got to add in that he's had a claim, and it mainly depends on what bike it is, and what area you live in. The above should see a drop in price (The shed could be a cheap-ish argos one, just for insurance purposes putting it in a enclosed, locked building means it's out of sight and less likely to be stolen).


If it helps, I'm 24. Most insurance for 600-900cc bikes for me is around £4-500. Insurance for a 1ltr rustbucket of a car is around the £2000 mark. God knows why. Area isn't that great, but I could be after 1 year of driving I'd be hitting the £1000 mark. Insurance companies are out there to make quick money. Not be your best friends sadly.
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Bike: Currently Bikeless... Gahh

[DrDonnyBrago]

Go for something slower and/or get a full licence. Think 4 stroke 125s or 100cc 2t commuters.


CBT riders on 2t sports 125s will always be expensive to insure.

[Snorty]

[JoeDougieDoug...]

I am with Swinton... been on the phone to them many times to arrange various things, not had a problem with them... I know a few other guys that are with Swinton and they've never had a problem either.
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CBT Passed - 22 / 10 / 11 >> Theory Passed - 16 / 02 / 2012 >> Mod 1 Passed - 07 / 03 / 2012 >> Mod 2 Passed - 18 / 05 / 2012.

[P.]

Just did a quote using LS4 2EW and ME15 7BB as quotes.

Its your post code

LS4 2EW
TPO - £744
TPFT - £973
FC - £1612

ME15 7BB
TPO - £293
TPFT - £499
FC - £870

It would be cheaper, for you to move down here, rent a flat and insure that bike than it would be to go with swinton Messed up times!

[skatefreak]

Damn,
That's pretty rough!
I'm insured on an NSR125, CBT and 2 yreas no claims,
1'st year, 125 4 stroke = £400
2'nd year NSR = £200
3'rd year NSR = £93 *grins*.

Must be my age (now 26) :p

That being said, location plays a big part not that you can change that to easily

Best regards

-Jvr

[Rogerborg]

Don't feel bad, a lot of people get suckered into low value claims. I do keep hammering on the point that a "better than nothing" payout can be a lot worse than nothing over the next 5 years.

[Snorty]

[Snorty]

Insurance companies basically have business handed to them, due to the fact that insurance is compulsory.

If you're going to make something compulsory, it should at least be fairly priced, got to love it.

I'm a printer by trade, I wish it were compulsory to carry around business cards if you want to walk around, that would be great.

I realise the importance of insurance, it should just be more fairly priced. I don't even think the brokers' margins are big enough to bargain them down by much when you're in the thousands.

[G]

Harsh, but an excellent example why I often tell people not to bother with TPFT insurance; will make a note and use it later .

[McFlufferson]

Holy Daylight-Robbery, Batman! That's pretty insane.. I honestly don't know what he could do to get the quote down. I'm sure others have offered advice. But I had to express my surprise at that sort of cost.
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Think that you'll stay loyal to a loving bike? So did I. Only rich men can afford to stay loyal. The poorer of us will whore ourselves out to any two wheeled monstrosity that will take us.

[jpderv]

[EXC-Rider]

i pay £600 for my yamaha xt125x and im only 17 and im with ebike if that helps
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owned bikes: DR50, Thumpsta 110 , Honda CR85, Speedfight 100, Yamaha XT125X, Honda CRF450, Honda Hornet '07
current bikes: KTM EXC525 AKA the wheelie machine
A friend in need is a friend indeed but a friend with weed is better!

[Rogerborg]

Incidentally, the other thing to try is getting quotes for TPFT or even Fully Comp on it with a low listed value and the biggest voluntary excess you can select (with no intention of ever claiming on anything other than third party).

You'll get a bite at some different underwriters who may have radically different prices, and not necessarily higher than TPO.
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Biking is 1/20th as dangerous as horse riding.
GONE: HN125-8, LF-250B, GPz 305, GPZ 500S, Burgman 400 // RIDING: F650GS (800 twin), Royal Enfield Bullet Electra 500 AVL, Ninja 250R because racebike

[anthony_r6]

[Rogerborg]

[Alex_B]

If there is ever one thing that makes me feel good about being 'old'-ish it's insurance.

Other than that, there is nothing
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My Lane Position is always AWESOME!!

[nightshaddow]

to get the cost down you will have to pay out, a shed / outbuilding to keep it in, alarms and/or imobilisers heavy duty locks etc

be aware most insurers dont think all security devises count for example they wont take any off for my m8s oxford disc lock but they do for my oxford titanium disc lock...... go figure.....

do some research first if you follow this route
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"WHAT DO YOU MEAN 100 MPH THATS IMPOSSIBLE Its chinese OFFICER."
Current rides CB 125 TDE(the next project) NS125RK ( now on the road ) CB125TDC (soon to be project 17) melody ( the nephews )

[richie....]

This what i dont get, you need insurance legally. So if you pay a policy of 1k, and your bikes nickeds, say its worth 500, if its old, it will be a write off (if its recovered) then you have to pay an excess, more money, then, in your mate case,pay the rest of the premium! Insurance should be regulated because imo, its a piss take.

Try fitting a cat 1 ground anchor and chain, brought my quote down 300 with a 80 quid cat 1 anchor and chain. I also keep the bike at my gf's 80% of the time, better post code so that helps too.

[rockers]

check it again with third party fire and theft, my zx7r was 300 quid cheaper - i dont know how it works

[Welshd1k]

paid £450 when i was 17 for a ns125rk then when i was 18 £296

akk on cbt with 6 points on liscence ,
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Current >Cb600fx hornet, ns125rk90 21.7bhp@wheel<
Sold >,zxr400 h2 (33bhp kit) rd350 n1 rd350 lc2<