Insurance Premium?

Kam · Crazy Courier Joined: 03 Sep 2005 Karma :

Hi, I just filled in my details to see how much insurance for fire and theft would be on a New Honda CG I am thinking of buying. I was just wondering what Premium means and will i have to pay it? It seems pretty high.

Insurer - Highway Zenith Equity Red Star

Premium
(inclusive of insurance
premium tax) - £1721.88 £1939.35 £5142.01

Fire & Theft Excess - £300 £260 £200

Free EU use - 30 days 45 days 60 days

Driving other bikes - No Cover No Cover No Cover

I am having difficulty understanding this table which came up after I completed the quote procedure. Help on what it means would be greatly appreciated, thanks in advance,
Kam
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Proud owner of a Honda CG 2005 model with 1005 Miles on the clock - Bought on 19/12/2005 Very Happy

dibbster · Nearly there... Joined: 15 Apr 2004 Karma :

The premium is the amount you need to pay to be insured.
The excess is the amount you need to pay if you have an accident and it is your fault. I would guess that the 3 prices are for third party only (TPO), Third Party Fire and Theft (TPFT) and Fully Comprehensive (FC).

I would ring round different insurers and it should be possible to reduce the premium. Bare in mind that if this was an online quote you filled in they tend to be higher as they make certain assumptions.

HTH Thumbs Up

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Davo · Davo To The Rescue! Joined: 04 Apr 2004 Karma :

Jesus, where do you live? Baghdad!

I'd try shopping around a little more first. Try giving Motorcycledirect a go they've always been quite good for younger riders.

priller · Brolly Dolly Joined: 26 Jan 2004 Karma :

I think

Highway - £1721.88 with £300 excess, 30 days insurance abroad
Zenith - £1939.35 with £260 excess, 45 days insurance abroad
Equity Red Star - £5142.01 with £200 excess, 60 days insurance abroad

try https://ebikeinsurance.co.uk/

craigs23 · Mr Muscle Joined: 08 Jun 2005 Karma :

How many CGs is that for? You sure it's not £172, £193 and £514?

Vespa · Traffic Copper Joined: 12 Feb 2005 Karma :

stevey900 · Two Stroke Sniffer Joined: 17 Jul 2005 Karma :

Try rampdale.com with all the w's of course. I had a quote on tpf&t for only £500 and am 20 with only a cbt and provisonal licence
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4 wheels bad, 2 wheels good!!

freestyler_onli · World Chat Champion Joined: 08 Nov 2004 Karma :

Try Express Insurance -they can knock 1500 quid off mine and that's with the same insurance company! Cool

Kam · Crazy Courier Joined: 03 Sep 2005 Karma :

It was definatly those amounts craigs, I was really surprised myself. Thanks for all the sites and info guys Thumbs Up

I will check them out when I get home from school and make a chart on Excel or something.
Kam
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Proud owner of a Honda CG 2005 model with 1005 Miles on the clock - Bought on 19/12/2005 Very Happy

White Noise · Mr Dudwee Joined: 17 Dec 2004 Karma :

jesus that is a lot, you have to get those prices down, to do this you need to basically phone around a lot of places. this could help you out

https://www.bikechatforums.com/viewtopic.php?t=40105

hoope you get it down to a resonible amount

WN
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Buy my wife: 96' Yam XJ600s (Diversion)
Wing Commander White Noise - SE Clique
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G · The Voice of Reason Joined: 02 Feb 2002 Karma :

The usual suggestion is to get a copy of biketrader and phone everyone in there.

Is that for fully comp insurance?

Other usual suggestion is to not buy new - even if you're only getting TPO insurance, it is actually cheaper to insure an older bike.

Also you don't have to run it in (1000 miles at reduced rpm, first 500 at half revs usually - on a bike that has a top speed of 65!), you also avoid the initial depreciation, can probably got TPO insurance (as the money you save on insurance/bike may actually buy you a replacement bike if it does get stolen) and many other reasons Smile

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Misc · World Chat Champion Joined: 15 Aug 2005 Karma :

I live in the highest risk area, 3 claims, Not garaged, 19 for a 400cc £3000 m reg rvf is £1800 tpft which is high fro some but i see this as good given my stats! So give these a call i think there the best for me dunno for you tho Very Happy

https://www.insurance2000.co.uk

veeeffarr · Super Spammer Joined: 22 Jul 2004 Karma :

I'm 21, living in Liverpool and I used MCE Insurance, I hassled the guy all day until he gave in and quoted me £245 on a Honda CG125 2001 model worth £1200.

Phoned up Bennets after that, told them my cheapest quote, and got told to "piss off" LOL

(PS: That's with breakdown cover and legal protection too Smile

)

(Edit: TPFT)

Shogun · Borekit Bruiser Joined: 18 Aug 2005 Karma :

300 from ebikes for TPO for a cg equiv. About 600 for TPFT.

Andy C · Tree Seeking Missile Joined: 26 Apr 2005 Karma :

Rookie · World Chat Champion Joined: 09 Feb 2005 Karma :

It's a CG, not an R1!

That's criminal pricing, I would refuse to pay that.

Ring around, every time you get it lowered knock another £50 off for the next company. Be prepared to spend hours doing this.