How the f*** does that work. Insurance question.

woodyeee · Nova Slayer Joined: 22 Aug 2010 Karma :

Just bought a gsxr 1000 k2 off good old ebay and thought I would get some online insurance quotes.
Been quoted £81odd (yes i'am an old git) for the year if I pay in full in full or £81 if I pay by instalments....well it is a lot of money Mr. Green

I know theres nothing in it but I usually pay for the full year up front, if I pay by instalments and say have the bike 2 or 3 months will I get stung for the rest of the year and an admin charge? how does paying monthly work if I want to cancel, Its with Swinton bikes.

instigator · Super Spammer Joined: 19 Oct 2004 Karma :

Tried reading the paperwork?

Ebike don't charge you admin fees for changing bikes, only the difference in premium (it can cost you more or you can also get a refund)

lihp · World Chat Champion Joined: 22 Sep 2010 Karma :

Monthly is financed usually, if you pay monthly and anything happens to the bike or you want to cancel, you will have to pay the full premium still first.
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Vincent · Banned Joined: 16 Oct 2006 Karma :

They screw you if you cancel after a certain time no matter how you're paying. Does seem unusual that the monthly payments are cheaper tho.
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woodyeee · Nova Slayer Joined: 22 Aug 2010 Karma :

I didnt want to pay monthly as its cheap enough for the full year, but knowing me i will probably change it at some point so will bite the bullet on the admin fees.
I did check my details and altered my no claims to one year less and the premium came down to £77...........less no claims and its less premium so it seems Laughing