need some insurance advice for my lad and his new scooter

charlie74 · Trackday Trickster Joined: 03 Mar 2013 Karma :

im having a hard time getting my head round which insurance level to get for my lads new scooter, the policy will be in his name along with the bike

its a new sinnis ( I know) value is £1000, and the quotes he has been getting are around the £650 mark TPFT, but with usually a £500 compulsory excess.

am I correct in assuming in the event of a theft/full claim and the bike being written off, he would have to pay the remainder of the term of the policy+ the excess?
ie if it happened in the first month.. £650 policy+500=£1150.. or basically they payout nothing and take the £150 hit on the excess? and take ownership of the wreckage

if so, would you say a third party only policy for £350 would be better overall value? for effectively the same result?

also going to see who offers excess insurance but the budget guys don't seem too

or am I just massively over thinking it all

ninja_butler · World Chat Champion Joined: 19 Oct 2011 Karma :

Yes I think you're right; if he makes a claim (or someone makes a claim against him) he is committed to paying the whole 12 months insurance. And whether it is his fault or not, he has to pay the £500 excess in the event of a claim, so if the bike is written-off or stolen, the maximum payout he could get is £1000 - £500 = £500.

He's never going to get the value of his bike back that way. Third-party makes more sense to me; if there is no excess on third-party he saves £300 + £500.

.. I think. Not very good at math me.

pinkyfloyd · Super Spammer Joined: 20 Jul 2010 Karma :

Find a policy without such a hefty excess. There are loads around. I would never go just third party on a ped or motorcycle. The bike would not be covered should it be stolen and I can lift a ped up on my own and I'm not the biggest of people in the world.
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DJP · Crazy Courier Joined: 11 Dec 2011 Karma :

A £500 excess on a £1000 bike means that you've only really got 3rd Party cover anyway because by the time the insurers have quibbled over the value, you'll be lucky to get anything back.

And yes, you will have to pay the full year's premium.
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Rogerborg · nimbA Joined: 26 Oct 2010 Karma :

charlie74 · Trackday Trickster Joined: 03 Mar 2013 Karma :

thanks for the reply's

TPO seems unfortunately the way to go then, and yeah been getting TPO quotes for £320 ish from a few

I think because he's 19 with no no claims he gets a bit screwed over. the excess's vary from £400 -600 depending on the "quality" of the insurer, ie MCE are £400, Swinton £500, hastings £600
joys of being a young un I guess

hopefully he passes and get his A2 done soon and can move onto something better

Rogerborg · nimbA Joined: 26 Oct 2010 Karma :

If he's doing A2 imminently, I'd want to be sure that the 125 policy can be switched to a bigger bike. You don't want to pour that amount of money away.

I wouldn't trust a broker phone monkey about it, I'd want to check with the actual underwriter.
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charlie74 · Trackday Trickster Joined: 03 Mar 2013 Karma :

nah, wont be anytime this year, so probably more feb/march time next year, he's in no rush as its just a commuter tool for him tbh.

typical loner teen, would rather spend his time in his room on his xbox than out

but yeah I will check that out just incase, thanks

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Robby · Dirty Old Man Joined: 16 May 2002 Karma :

Theft can be avoided with decent security. I highly recommend fitting one of the £30 phone-based trackers on ebay like the TK102 nano. Don't bother with the really advanced tracking settings where it logs its location with the server every 5 minutes - just drains the battery on the tracker and the bike quickly. Leave it on the basic setup where you can send it a text message to get the location, and make sure it is wired into the bike battery for charging.

Then buy a decent lock and chain. Do not buy an oxford lock and chain, cheap bolt croppers will go through them. Expect to spend about £200 on something genuinely theft-proof. A lot of money, but it will last for a couple of decades.

Don't bother with comp insurance. If he drops it, parts are cheap.