Insurance, can someone in the know enlighten me?

Santa-2512

Santa-2512

Omnipotent one
UKGSer Subscriber
Joined
Aug 3, 2016
Messages
13,570
Reaction score
3,175
Location
North Pole
So i buy a 2016 LC from the dealer

All options ticked

Crashbars
Spots
Panniers
Quickshift
Etc, Etc

Only change was a seat and screen
Fully comp £250 up from £180 for the hexhead, which jumped from £130 due to the last industry shake up

My understanding is that if total loss the payout would cover replacing everything

Now i change to 2011 GS Tu
Because its not on the system , they cant quote, or have to refer it to the underwriter

The ones who will quote see anything away from the factory spec as a mod

So i list
Panniers
Screen
Lights
Levers
Crashbars

And they wont quote - too many mods?

I dont get it, the cost of the mods is way less than the parts that came with the bike,

It dosent make the bike more desirable, If anything, the mods are to try and prevent myopic smidsy's and reduce the amount they have to pay out

And they wonder why there seen in a bad light lol

So how does insurance work? , how do they come up with the figures,

and before you say algyrivms , thats bollox, its just a how much can we charge generator ;)

?
 
It might help if you list the actual brokers you have spoken to, then someone might be able to recommend one who is a bit more specialised.

Wapping has explained the insurance retail market several times. It is a commodity like a can of beans. Any request for something non-standard can end up with the retailer saying, "we sell beans, you can have them with or without sugar. We have Axa, Ageas, Aviva and the budget Markerstudy brands."

Bikesure/Adrian Flux is probably the most flexible of the mainstream brokers.

As for mods, I don't bother to declare the ancient Givi luggage, bar risers, grip puppies and peg lowering kit.

This explains the difference between an accessory and a modification in underwriting terms. You only need to declare an accessory if you want that to be covered by the policy. https://www.devittinsurance.com/mot...ications-explained-accessory-or-modification/
Seems my ergonomic change of pegs and bars is considered a mod, but I don't care as a loss adjuster would need to demonstrate the mod contributed to any claim.

What they don't cover is buying a used bike that has a change that you are not aware is a change e.g. how would you know the air filter is not standard if you are not told? How would you know the bike originally had cast wheels but now has spoked?
 
wessie said:
This explains the difference between an accessory and a modification in underwriting terms. You only need to declare an accessory if you want that to be covered by the policy. https://www.devittinsurance.com/mot...ications-explained-accessory-or-modification/
Seems my ergonomic change of pegs and bars is considered a mod, but I don't care as a loss adjuster would need to demonstrate the mod contributed to any claim.
Click to expand...
That was handy :) Most of what i need to so fall's under accessory's, only the Suspension lowering would need to be declared
 
Santa-2512 said:
That was handy :) Most of what i need to so fall's under accessory's, only the Suspension lowering would need to be declared
Click to expand...
Just run the details with them, may need a chat about 1 mod but a price , and way better
 
If as you put it you do not advise the broker/insurer of any modification to your bike or car, in the event of a claim wether fault or not fault if an engineer inspects your bike and finds these mods the insurers are within their right to void of your policy and not pay you out for the damage to your bike and even keep your premium to cover their admin costs so be warned. Many bike and car insurers DO NOT cover vehicles with modifications hence the risk will be unnacceptable to them, no matter what you say.

I am aware of several cases where this has happened
 
Nippy Normans supply Touratech, Wunderlich, Desert Fox and many other makes of accessories.
You must log in or register to reply here.


Back
Top Bottom