TPFT Versus TPO (Predicament)

[McfcChris94]

Trying to sort things out, i need to explain my scenario first though so people can understand...

Im 17 years old, and first and foremost i cant ask my parents for money (not in that position).
Im looking at getting a Kymco bike, as they are quite nice and cheaper than Honda's, and seem to be just as good as they are taiwanese...

I ran a quote through and got £600+ for TPFT, now i decided to look at TPO, and that is a massive difference of just £363 with motorcycle direct?

Now i know that the risk without TPFT is great, but for that huge saving and cash being quite restricted, would you recommend going for TPO and spending the spare £200 on locks/chains and making it really secure, or is it still a big risk?

Im not a stupid idiot who would leave it running whilst i spend 3 hours in tesco or something... it would be locked up against something cemented into the ground atleast....

I cant decide whether its a good idea,

Also at night the bike will be stored in a locked garage in a very peaceful estate, never ever been trouble around here

If anyone can help me out it'd be a great help, im thinking i could be safe enough on TPO, and of course next year when iv left college, then get TPFT with my 1years no claims??

Rambled, but needed saying

[Alex_B]

We wont get into the cheap Chinese/Taiwan discussion.

Is the bike new?? How much is it costing?

You may not even claim if it was nicked (Much higher Premiums) so in this case it might be better on just the TPO.

Really need more info tbh.
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My Lane Position is always AWESOME!!

[nick_houghton]

Any claim against theft or pay out to a third party you make will affect your premiums for the next few years anyway.

So, if your bike is say worth £700 and the protection against theft is an extra £250, plus say an excess of £250. Taking all that into account plus the insurers trying to pay as little as possible in the event of theft, you can nearly buy another bike.
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Cheers
Nick Houghton

[Rogerborg]

That, essentially. The extra premium for TPFT is guaranteed money out of your pocket, the excess will stuff you anyway, and then you'll get pounded for the next 3 to 5 years on any insurance you have - making a claim might make you effectively uninsurable in a car.

So if your bike is worth less than £1000 or so, I'd say go TPO, and take your security seriously.

If your bike is stolen and you don't recover it very quickly, call your insurer and tell them to cancel the policy. Don't tell them why, or just say "No longer have the bike" (which is true enough). You should do this so that it's not still insured in your name when Pikey McJoyride stacks it into a convent full of kittens.

Feel free to under-estimate the value and consider being optimistic about the amount of security that you'll use on it. This will reduce your premiums even for TPO insurance, it's one of the few ways to get one over on an insurer.

If you take out a "pay monthly" policy, understand this clearly: what you will be doing is borrowing the premium and agreeing to pay it all back with interest even if you cancel the policy. If you cancel, you cancel, but don't expect to get anything back or to be able to stop paying for it.

By the way, get some comparative quotes for a CG/YBR 125 versus the Kymco or Hyosung, you may find they're cheaper - and that's money in your pocket or tank.
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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

[HJM]

[Quornholio]

[MG]

Don't quote me on this, but it's something like:

11 months remaining - 70% refund
10 months remaining - 60% refund
9 months remaining - 50% refund
8 months remaining - 40% refund
7 months remaining - 30% refund
6 months remaining - 20% refund
5 months remaining - 10% refund
4 months or less remaining - no refund

or at least that's what I can recall from when I cancelled my policy with Swinton.

It does depend on insurer obviously, and remember there is a cancellation fee on top of that PLUS you lose a possible year's no claims.
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'03 Honda Cityfly 125 > '02 Honda CB500S > '98 Honda CBR600F

[P.addy]

All the bikes I've had TPO have been nicked

I still go TPO on specific things like cheap shit 125s. But if I get loaned a bike and need to insure its usually FC.

TPFT is what I have currently but it also covers me TPO on other bikes

[arry]

[Rogerborg]

Yup, you have to actually read the individual policy. You can get stitched up like a kipper on this if you don't.

For example, I went with eBike this year because they don't generally charge admin fees when chopping and changing bikes around. I paid a few more £££ up front, but have already made that back on a bike change and will make more back over the year as I make some more planned changes.
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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

[HJM]

cheers, cleared it up for me

[_Iain_]

Get the honda. The kymco or whatever the fuck it is will get mechanical aids and die if it even gets a hint of an MOT station, the honda would probbably survive a nuclear war.

TPO, huge fuck off chain, alarm it, and stuff it in the garden or somewhere awkward to get it back out.


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Please be aware that the above post may be full of complete nonsense.
Riding: '07 KTM Duke II, Baotian BT49QT-20 Driving: '88 Volvo 340