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insurance quotes what a joke!!

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RyanTZR125
Scooby Slapper



Joined: 04 Feb 2013
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PostPosted: 12:26 - 04 Mar 2013    Post subject: insurance quotes what a joke!! Reply with quote
Having a look at insurance quotes, cheapest coming in at £102 tpft a few at £200+ But one came in at £9500!! I'm by no means a youngster at 38, held a full UK drivers licence for 18 years, so have p category entiltlement.

Based on passing my cbt 01.01.13 and being a new rider, how the hell can a difference of 9k be right, my bike is 1980 Honda h100a. Obviously I won't be entertaining the 9.5k quote, just got me wondering how such a huge difference is possible Rolling Eyes
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c_dug
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Joined: 04 Sep 2007
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PostPosted: 12:32 - 04 Mar 2013    Post subject: Reply with quote
Quite simple really, they don't wan't your business.
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RyanTZR125
Scooby Slapper



Joined: 04 Feb 2013
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PostPosted: 12:34 - 04 Mar 2013    Post subject: Reply with quote
c_dug wrote:
Quite simple really, they don't wan't your business.


And they certainly won't be getting it at that price Smile They will however be getting Middle Finger
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Rogerborg
nimbA



Joined: 26 Oct 2010
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PostPosted: 14:03 - 04 Mar 2013    Post subject: Reply with quote
Agreed, that's their way of saying that they don't want to cover you, but without actually refusing.

See how they also ask "Have you ever had insurance refused"? They think they're being oh so clever. Wink

It's likely just that your bike is too old, it's nothing personal.
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arry
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Joined: 03 Jan 2009
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PostPosted: 16:08 - 04 Mar 2013    Post subject: Reply with quote
Rogerborg wrote:
See how they also ask "Have you ever had insurance refused"? They think they're being oh so clever. Wink


that's actually nothing to do with it. The question around having insurance refused is down to YOU having insurance refused, ie for you personally, rather than 'doesn't fit underwriting criteria'.

The reason a quote appears rather than a refusal to quote is that all of the price comparison websites kick up a fuss to the insurers that in order to take part they need to be quoting an x percentage of the business that gets run through the site. Much easier to price out the business you don't want to attract - or at least secure it at a price you're more comfortable with should the worst occur and you do end up picking it up - than to have another declinature recorded.
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andym
World Chat Champion



Joined: 16 Nov 2010
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PostPosted: 16:17 - 04 Mar 2013    Post subject: Reply with quote
So, just out of curiosity, say you've got far too much money to burn and went for one of the expensive policies, what would happen if you had paid your premium then had an accident?

Totally unrealistic as the policy would be several times more than the bike was worth... but would they try to get out of it still?

The difference in my policies has been £128 - £10,000
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chris-red
Have you considered a TDM?



Joined: 21 Sep 2005
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PostPosted: 16:20 - 04 Mar 2013    Post subject: Reply with quote
If I was a millionaire I think I would take out one of those ridiculous policies then crash into an Aston Martin Dealership or something just for the lolz.
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arry
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Joined: 03 Jan 2009
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PostPosted: 16:23 - 04 Mar 2013    Post subject: Reply with quote
andym wrote:
So, just out of curiosity, say you've got far too much money to burn and went for one of the expensive policies, what would happen if you had paid your premium then had an accident?

Totally unrealistic as the policy would be several times more than the bike was worth... but would they try to get out of it still?

The difference in my policies has been £128 - £10,000


You pays your money you gets your policy. It's a legally binding document.

Claims can only be repudiated - ie the loss is not covered under the scope of the policy, or avoided by virtue of the policy being voided ab-initio for reasons of non disclosure, or avoided due to the fraud condition ie breach of it (deliberately inflating a claim, for example).

You really need to think outside of the lump of metal you're insuring and look at what drives claims costs - it's not the replacement metal, it's the bodily injury aspects. Bike may be worth £500 - doesn't stop you from sticking it in the back of a £200k limo and quadraspazzing the 6 teenage girls in the back, who were on their way to a Mensa training camp and were expected to become neurosurgeons.

To give you an idea of quantum - if you quadraspaz a 20 year old bloke on an average wage in an average job and cause him to require treatment / assisted living for life, you're looking at the wrong end of a £5m bill. And it's not as uncommon as one would think...
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_mjs_
Could Be A Chat Bot



Joined: 23 Feb 2012
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PostPosted: 16:38 - 04 Mar 2013    Post subject: Reply with quote
Lol'd at 'quadraspazzed' Karma
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Rogerborg
nimbA



Joined: 26 Oct 2010
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PostPosted: 17:13 - 04 Mar 2013    Post subject: Reply with quote
arry wrote:
Rogerborg wrote:
See how they also ask "Have you ever had insurance refused"? They think they're being oh so clever. Wink

that's actually nothing to do with it. The question around having insurance refused is down to YOU having insurance refused, ie for you personally, rather than 'doesn't fit underwriting criteria'.

With respect, we, the little people, have to go by the plain language of the words used, we don't know your Harry Potter "ab-initio" spells. We're not privvy to the esoterica behind insurance, are not qualified to distinguish what's material and what's not, and have that pesky duty to disclose absolutely anything that may be material, at peril of being voided out the wazoo at the point when we actually need the indemnity.

So I for one am happy to see silly prices rather than a GTFO, regardless of the reason behind it.

I do wonder what Rowan Atkinson pays for his insurance, since he's determined to keep getting behind the wheel of his £3.5 million McLaren and stack it into trees.
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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
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andym
World Chat Champion



Joined: 16 Nov 2010
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PostPosted: 20:04 - 04 Mar 2013    Post subject: Reply with quote
Rogerborg wrote:
I do wonder what Rowan Atkinson pays for his insurance, since he's determined to keep getting behind the wheel of his £3.5 million McLaren and stack it into trees.


Depends if the trees sue or not
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Old Thread Alert!

The last post was made 13 years, 24 days ago. Instead of replying here, would creating a new thread be more useful?
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