Would this work . . . ?

[Gracie Jones]

OK, so lots of insurance policies cover you for 3rd party damage only in the event that you use somebody else's bike with their permission.

Scenario (not me btw): Take, say R1-lad, who is young and owns a monster of a bike. What is to stop his friend actually holding the V5 and owning it, whilst R1-lad owns and insures a cg125 (that may not even run at all) and then riding his R1 with his mate's permission on the basis that the insurance policy for the cg 125 which he never rides, covers him 3rd party.

That way he pays for cg 125 insurance but rides his R1. He only has 3rd party anyway, so this is basically a way of getting cheaper insurance with no loss in cover right?

Also, his mate does not need to insure the R1 because he doesn't ride it.

How does that sound.

[TheShaggyDA]

Won't work. You can only ride with your 3rd party cover on someone else's bike if THEY have insurance for it too.
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Current: CB500 Previous: CB100N, CB250RS, XJ900F, GT550, GPZ750R/1000RX, AJS M16, R100RT, Enfield Bullet

[i:6e3bfc7581]But still I fear and still I dare not laugh at the madman...[/i:6e3bfc7581]

[r1_lad]

The R1 would have to have an insurance policy on it in *someones* name. The deal is you can ride any other bike 3rd party that has an existing policy on it.
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RS50 -> RS125 -> GSXR600 SRAD -> 02 R1 -> Speed Triple 1050 -> Ducati Streetfighter 1099 -> DRZ400 Superetard

[nc30 chick]

And if it gets knicked then your shagged

[dodsi]

The bike has to be insured by the owner.

So say if R1_lad's dad insured it and held the V5 so "owned the bike"

Then R1_lad had other bike cover on say a CG125 as you say he could ride the R1 insured for much cheaper and gain no-claims in the process on the CG125.

[r1_lad]

Funnily enough, my R1 is 3rd party only...
If it does get nicked.... I am shagged!

Plus, you think i'd trust one of my mates with my sparkling R1's V5 document and ownership?! You obviously don't know any of my mates
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RS50 -> RS125 -> GSXR600 SRAD -> 02 R1 -> Speed Triple 1050 -> Ducati Streetfighter 1099 -> DRZ400 Superetard

[iCraig]

Your forgetting one thing, owning a Vehicle and being the registered keeper of a vehicle are different.
It does state this on the V5C but I am unsure of how they actually mean it.

[Bendy]

It's also the kind of thing that, given a big enough claim, insurance companies will start looking into more closely.

[Gracie Jones]

Cool, it didn't take you lot long to rip that one up

Was just thinking about it this lunch time that's all . . . Hope you don't mind me using you as example R1 - am just jelous that you have such a cool bike.

[Ste]