I Can’t Be The First Tosser To Need Insurance After An Extended Break ?

[Neil W]

Mate of mine got caught out, after a health issue he didn't ride any of his bikes for over two years and left them uninsured in storage.

Bought a newer bike to start riding again and non of the usual suspects would recognise his previous 40 odd years No Claims Discount as he had not ridden bikes or had any of his insured for 26 months .

At the moment he has the newer bike and one classic insured until he builds up some NCD.

He was repeatedly advised to keep a classic insured despite not riding it to retain some continuity of insurance

 

[beemerboy9]

My RoadKing had a list price of £25k —… I paid £22k… (this was 18 months ago )

I’ve ridden since 17, now 63… had a GS insured for £150 fully comp and countless other car and bike policies..

No one would touch it…. So I reduced the price to £19k on the comparison sites and all the quotes pilled in….

In the end Bikesure covered it at £22k without any grief.


They don’t like em over £20k…..

Even HD insurance refused …. (Carol Nash under the skin) which is funny as a high percentage of new Harley’s are north of £20k

Would it be possible to insure £22,000 bike for £19k and then get separate GAP insurance to cover the difference between the insurance pay-out and the invoice price?

 

[Wapping]

Would it be possible to insure £22,000 bike for £19k and then get separate GAP insurance to cover the difference between the insurance pay-out and the invoice price?

No.

Whilst you could maybe buy it, you have deliberately under declared the true your vehicle in order to obtain a lower premium (or cover at all) from your conventional insurer. That is a form of nondisclosure. In an extreme case, it might invalidate your insurance.

You cannot then insure out the difference between the deliberately reduced value and its true value.

What you might be able to do is declare the correct value, but with a much higher excess. Then maybe insure the difference between that and a lower figure.