Not using a chain when out and about

[sensi5446]

Hi guys

The time has come to renew my insurance and I have put down that I have no security, the reason for this is I got sick of using my big chain when out and about last year so started using a small oxford, this made me think if the bike did get nicked then my insurance company could ask why I wasn't using my almax.

So my bikes insured for £2000 as its in VGC and my excess is £200 so I wont be using a chain anymore when out and about or at work just a disc lock.

At home I'll still use all the security I have but don't see why I should use anything if I pay for insurance.

[Mudshark]

did it make any difference to the insurance cost?

I put down an approved disklock because the option was there, but then realised I was stuck having to use it ALL the time, as it's now a get out of jail free card for the insurance company
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R1250RS
XT660X

[P.]

What bike is it.

I tend to not bother declaring any security regardless.

With the disk lock... it was stolen with the bike when they evidently used a van...

[Rogerborg]

I agree, don't declare it unless it makes a significant difference.

In the right direction, that is. Recall that I had a lowest quote go up by 1/3rd when listing an Almax and squire.
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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

[Ben90]

I ran two quotes on my old 125, one with a chain, disk lock and ground anchor and one without, the latter premium came out 8p more expensive.

Assuming it stays constant, £100 worth of security would take 1250 years to pay for itself

Probably some clause that says if you ever take out insurance with no attempt at security that's an excuse not to pay out straight off the bat. </cynic>

Tl;dr - use security to hinder opportunists and to help avoid coming back to a bike that isn't there, but don't declare it
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Yamaha FZ6 S2

[DrDonnyBrago]

Declare as little security as possible.

[sensi5446]

It made no difference to the price but its a GPZ so not really the most desirable bike out there I'm only using a disc lock to put off the odd scrote from pushing it away.

[P.]

I wanted to know if it was the "£2000" bike that was in your avatar Best of luck claiming £2k back from insurers. Just bag a chain, any chain is better than none to an opportunistic tealeaf.

[andys675]

I don't lock my bike for the insurance company

I lock it cos I love it and don't want to lose it, no amount of insurance payout could replace it
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Some people feel the rain, others just get wet.

[sensi5446]

[sensi5446]

[nowhere.elysium]

[sensi5446]

[Kris]

[.Chris.]

[nowhere.elysium]

[Dcwhite1984]

[sensi5446]

so what would you value a 54 plate GPZ 10k on clock, VGC ? I will speak to my insurance about the value I put in vs what a payout would be

[nowhere.elysium]

About 1200 tops. They're very common bikes, which pushes the replacement cost down significantly.
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'10 SV650SF, '83 GS650GT (it lives!), Questionable DIY dash project, 3D Printer project, Lasercutter project

[P.]

[sensi5446]

https://www.autotrader.co.uk/search/used/bikes/kawasaki/gpz500s/postcode/m201gy/radius/1500/quicksearch/true

Prices on auto trader are well off then

cheers for the valuation, I must of paid over the top then

[P.]

Put into perspective, 2004 Daytona 600 and 2003 CBR600RR, both dwarf your bike and were both bought and sold for under your 2k figure.

You probably did pay over the top, but you bought a 500 twin which was the real downfall here.

[sensi5446]

[c_dug]

My insurer paid out £1200 for my TS50X, I paid £200 for it originally.

You can't second guess what they'll offer you. I dont think £2,000 is beyond the realms of possibility, but it isn't a value I'd want to rely on or assume I was getting .
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I am a bellend, I am a man of constant sorrow, I am a gummy bear, I am a rock.

[sensi5446]