I would guess worst case scenario would be the insurance company would say, as you've not been honest and not declaring the bike's true value tobreduce your premium then under the t&cs of the contract you've voided your insurance?
1300gs TE ASA Insurance- No Quotes !
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Depends on the policy wording and t&c's. It asks for "market value" in the quote application. So market value is the value of your new bike after you've bought it. Would a insurance company pay new value after 6 months of ownership??. Not unless it had a new bike replacement clause in it. So market value is probably a few grand less as soon as you ride away.
Trickey one though.
The issue is that they insist on lock-ups, not even residential (shared) underground parking/garages, evens small ones where just a bunch of people have access.
I've had to deal with this for years before renting my own lock-up.
Also, this impossibility to insure some new vehicles, both car and bikes, (seems to me) pretty unique to the UK's insurance market only.
A majority of policies, like car policies have a replacement cost as new in the 1st year. But depends on the underwriter. That is why gap is a waste in the 1st year for new replacement.
there was a discussion about this on that Radio 4 last week. Seems in the UK our brokers/underwriters insist on a complex algorithm where individual risk is the primary underwriting criterion. In other places, they prefer the,"we are all in this together" approach where risk is to be shared across the nation, more like a mutual organisation rather than the commodity dealers we have. Premiums are more even for comparable vehicles and it is the vehicle that is insured for any driver.
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One advantage you do have in the UK, if you can get insurance, is multi bike or rider policies as they were known
Over here you need a separate policy for each bike, so it gets expensive having more than one
Over here you need a separate policy for each bike, so it gets expensive having more than one
When my bikes a year old next March it won't matter what value I put on it they will only pay out their market valuation anyway ! It's difficult to put a value on your bike after a years ownership.
Yes. When I moved to the UK I raved about multipolicies
In Italy you insure the vehicle - full stop.
I'm not sure how much it changed in the last 17 years, but generally everyone can drive/ride it, you can park it anywhere you want (within reason) and it's treated as a vehicle, that moves and can travel, not like a teapot that has to get back home before supper.
Downsides are that the insurance prices are generally higher than here in the UK.
You need a separate insurance policy for each vehicle. Having 2/3 bikes starts getting fairly expensive.
I think France/Spain work in a similar manner.
On the other end, there is much less faffing about when getting your money back in case of accidents (I, sadly, went through it) you can decide to insure a vehicle worth 30k for third party only if that is your choice.
The insurance cannot write off a vehicle, because it is yours.
If you are involved in an accident of any kind that is not your fault, insurances cannot raise your premiums. By law.
I have no idea about the numbers, frauds, etc.
I'm just curious because people not being able to insure a vehicle nowadays are common stories. So one wonders if our (hyper marketing-led) motor insurance system is not really working anymore.
I was helping a friend work on his GS yesterday. He got a call from a dealer when we were together. He told that they are trying to find insurance for him as he went to see a GS900, but gave up as it was impossible for him to insure it.
Friend's parents (in their 70ies, own house and garage, living in Surrey, perfect insurance history, etc.) bought a new Lexus last year and, same, no way to get it insured when it finally arrived.
They left it back at the dealer - fairly upset. Then a month after, the dealer managed to find a way to get them insured, etc. etc.
It's getting a bit ridiculous IMHO.
and the onus will be on the manufacturers to negotiate with underwriters to cover their vehicles
part of the problem is their monopoly on parts supply and the exorbitant prices they charge for them. This not only drives up repair costs but is a driver for vehicle theft, either for parts or ringing.
Agree. One thing that annoyed me (and I wrote about this at leght
) is the impossibility to have only third party cover.I paid about 2k a year to insure the HP2 for quite a while back in the day and, considering it's a bike that moves very little and it was in a fairly secure garage (sitting in front of the guard) I would have been happy to have it covered for third party only and keep the risk of it being stolen on myself. I would have rather saved the money to buy another one over time.
Denied.
I suspect, as you say, that the ancillary services insurance offers nowadays are what is killing it.
The "gravy train" as we often refer to it on those pages. It has its costs.
I'd say it is a similar scenario to what happens with health insurance in the US.
> own the process
> pump up the prices of anything involved
> create a completely artificial market with made up prices (parts, replacement vehicles, lawyers)
> ...
Saloonatic67
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I've just been through the struggle to insure my new 1300 TE. Most insurers refused to play nice and some just point blank refused. I initially made an error getting quotes where I was unaware you can only use any NCD on one policy, so I corrected this, set the NCD at zero and the quotes went sky high. Things were looking so grim that I was almost reconsidering my bike purchase. The quotes with my NCD started at around £1000, and the ones without were in the region of £3000 +
In the end a call to my existing insurer revealed that they offer multi bike policies, so they've added my new GS to the existing policy for my S1000XR and it's only cost a few hundred quid extra. Happy days.
In the end a call to my existing insurer revealed that they offer multi bike policies, so they've added my new GS to the existing policy for my S1000XR and it's only cost a few hundred quid extra. Happy days.
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Just out of interest, where did you state the bike was kept overnight ?
Saloonatic67
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In a locked garage. Shackled to ground anchors etc etc
Picking up my GSA ASA on Saturday . Oh better ring the insurance bod .............. Twice the price of the 1250 !! Most will not quote , had to fit a tracker to get insurance . It's the price and mine is a standard TE ASA so just over 20 grand . I think this is the last big bike I will buy , such a faff and more money than I had hoped when I order it last September . However I am F@@cking excited genuinely can't wait .I will be sad to see my dear friend the 1250 GSA go 6000 trouble free miles all over Europe
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Is it garaged at your property ? How much was it valued at ?
yes garaged alarmed garage big chain value £20965
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Do you think, valuing at 19.500 would have much difference ? Im paying over 27k for mine. But will value it at 19.500
no tried that . I guess it's just a very expensive bike . Though maybe the ASA will make it harder to steal ? Does it Stop in neutral ? You can lock it in gear ?
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The Park ability is a definite positive for anti theft. My argument about the value for me, Is that the price im paying is for all the luggage. Tank bag, Side bags, Panniers, Top box. Which, Will be taken for the next bike ? Also the Sports exhaust. So the actual value is much less, plus the VAt lost as soon as you ride it out the showroom. A friend of mine, xactly same bike, Got his insured for £17.50 more when he moved it over from his 1250. It really is a lottery.
Who do you use to insure? You sound like you have the same experience as me but I have only a few years NCD as I am a blow in. My Insurance is always ridiculous like yours but with a bit more on top and I only bought the last 1250 GSA
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