insurance

[scarf100gs]

Just wondering whether to convert my st to 1000cc when I restore her. One of the negative issues I was thinking may be the insurance so has anyone done this then had any problems with insurance. I figure some companies may refuse and others add large premiums especially if straying from standard with upgraded suspension, brakes, etc?

 

[Kenny]

IIRC didn't make any difference to my conversions. Best give them a call?

 

[tuftywhite]

I use RH insurance who couldn't, in my opinion, be better.

When I initially insured my special, they asked if there had been any modifications. I said that it arrived as a frame and an engine, on a pallet.

It was an R65. We upgraded the engine to an 860cc. They didn't seem to care and my premium more than halved what CN was asking.

Give them a call and see what they say. You have nothing to lose by a phone call.

 

[Nin]

Excellent, thanks gents. I was just about to ask the same question.


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[GSite]

I have found Equity Red Star to be flexible on modifications without imposing serious terms such as loss of agreed value, higher excess and premiums, limited cover, loss of salvage buy back if written off etc. The knack is finding a broker who uses them as underwriters. Personally I like Lynbrook brokers as you can actually speak to those in the know about underwiting or even to the underwriter directly if you have a complex or bespoke requirement. Competively priced too with only a £50 excess.

 

[Tetley]

All of my Classic bikes are with Peter James Insurance. They are less bothered about the mods more the agreed value. Below 10k it’s what you say. Above 10k you need a valuation from an expert (Mikeyboy) and photos.

 

[Big-G]

Question please, what sort of money do you pay for £10k of agreed value. I just insure mine via normal bike insurance.

 

[Tetley]

Garry, I have 11 bikes on my Classic policy, including the HPN (a more modified bike you will not find) some tasty airheads and a couple of old triumphs, all with agreed values. All bikes fully comp £601
C

 

[FD2]

Just insured a G/S with 1000cc conversion and no issues

 

[scarf100gs]

All of my Classic bikes are with Peter James Insurance. They are less bothered about the mods more the agreed value. Below 10k it’s what you say. Above 10k you need a valuation from an expert (Mikeyboy) and photos.

I have had quotes from the suggested, my problem is that I have two "fault" claims in the last 2 years. The only claims that I have had to make in over 40 years of driving. One with my car when someone smashed into it whilst parked and one when my bike was stolen last year. They are considered "fault" as there were no 3rd parties to claim from? None were my fault!
So, last year I paid £98 fully comp for my 100gs, one "fault" claim
Now out of the above Lynbrook said they couldn't insure me because of the past claims; RH came in at £290 for an agreed value of £8000 if photos are sent, etc; Peter James at £225; CN wouldn't; BeMoto £240; Bikesure wouldn't; Hegerty £273; most of the rest from comparison site wouldn't when contacted. All quotes were for an ST with 1000cc conversion and agreed value of £8000. It may cost me less to renovate and do the 1000cc conversion but think £8000 is fair.
All prices came in less for the standard ST but not considerably.

Think I will just ride the st as is for a few years and renovate later as I approach 70, if still here and riding!!! Can't get my head around the fact that the claims were considered my fault because there were no 3rd parties insurance to pay for them, so what? Both were reported to the police. Maybe they think that I smashed my own car up and nicked my own bike and am likely to do it again....it's possible. My no claims were protected so still have max, for what good that is.
It seems that a 64 yr old guy who has been riding most of his life is too high risk for some and an excuse to bung the price up for others!

 

[tuftywhite]

It does seem bad but all they're doing is calculating risk.

My wife has had two non fault incidents in her car, that the 3rd parties paid out for, but as she has 'had' accidents, her risk level is up.

Some even look at when you call to get a quote. If you leave it too near your renewal date, they consider that you may take risks so up your premium a touch.

Don't take it personally. You'll soon build up your NCB.

 

[scarf100gs]

It does seem bad but all they're doing is calculating risk.

My wife has had two non fault incidents in her car, that the 3rd parties paid out for, but as she has 'had' accidents, her risk level is up.

Some even look at when you call to get a quote. If you leave it too near your renewal date, they consider that you may take risks so up your premium a touch.

Don't take it personally. You'll soon build up your NCB.

Still don't see the logic in how I can be a greater risk than anyone else for having my car driven into when parked or my bike stolen, or your wife for having her accidents. Both firsts in over 40 years for me but obviously not taken account in their "statistical ratings". Surely it is a random thing or do we all have an imaginary "fate" rating? Also, so what, I paid for the insurance in good faith or why have it anyway? This is something we now seem to take for granted, if you make a claim your insurance will go up next time. But why should it, where did that logic originate anyway? Just adds to the "scare" factor in making a justified claim imo.

I haven't lost my NCB (another illogical piece of insurance jargon) as it was protected on both occasions so still have "maximum years" in theory, hate to think what the quote would have been otherwise.

 

[scarf100gs]

Just insured a G/S with 1000cc conversion and no issues

Interested to know who with and what price please?

 

[Big-G]

Garry, I have 11 bikes on my Classic policy, including the HPN (a more modified bike you will not find) some tasty airheads and a couple of old triumphs, all with agreed values. All bikes fully comp £601
C

I’m insured separately for each bike so the answer looks like a combination quote. Thank you.


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[Voyager]

Insuring my wife and two (grown-up) daughters to drive my cars as 'named drivers' on my Insurance was a mistake ! There have been a couple of minor incidents; e.g. when a Daughter's neighbour reversed into my car, a 'yoof' in a van took the door mirror off another (while it was pulled over to let him past). All of this affects my bike Insurance and that of my Transit Van (which the family are not insured to ride or drive).

Its a racket and just an excuse to hike the price.

You just have to shop around and get alternative quotes. Its amazing how the price drops when you complain or give them details of other quotes.

Bob.

 

[GSite]

Still don't see the logic in how I can be a greater risk than anyone else for having my car driven into when parked or my bike stolen, or your wife for having her accidents. Both firsts in over 40 years for me but obviously not taken account in their "statistical ratings". Surely it is a random thing or do we all have an imaginary "fate" rating? Also, so what, I paid for the insurance in good faith or why have it anyway? This is something we now seem to take for granted, if you make a claim your insurance will go up next time. But why should it, where did that logic originate anyway? Just adds to the "scare" factor in making a justified claim imo.

I haven't lost my NCB (another illogical piece of insurance jargon) as it was protected on both occasions so still have "maximum years" in theory, hate to think what the quote would have been otherwise.

Sadly ypur protected NCB will only apply of you stay with the same insurer, go elsewhere and they will treat you as anyone else with claims. The NCB % discount may be protected, but even ypur current insurer will load the top end premium before plying the NCD, so premium will still rise. As said, it is a racket, particulary if like me you have several bike polices, each will be affected by claims on pther vehicles. It makes a mockery out of earning separate NCB on individual vehicles if they could reduce it following a claim on a vehicle not involved with that claim.