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Thread: MCE

  1. #33
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    They want bricks right?

    Bike is in a steel container inside a secure compound in a private garage [...]
    I feel your pain.
    In one of my previous parking locations above I was struggling to get the bikes insured. They were parked IN FRONT of the guard that was at the post nearly 24/7. The parking door was closed/locked from 8pm to 6am, cameras, lasers, rabid dogs and all... NO NO.

    But... hey, a shed somewhere in a back alley with a plywood door a 96 years old can easily kick down: yes no problem.

    I kept paying the higher fees until I was able to get them insured that way because I felt it was safer to keep them in the residential car park than aforementioned shed.


    PS.

    I have the bikes chained and one of them is chained to the floor with a ground anchor and Pragmasys chain and pin going through the frame, but I generally never declare it on the policy. It doesn't affect price that much and you might be in a lot of pain if the bike is stolen without the declared security on.
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  2. #34
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    Quote Originally Posted by er-minio View Post
    They want bricks right?



    I feel your pain.
    In one of my previous parking locations above I was struggling to get the bikes insured. They were parked IN FRONT of the guard that was at the post nearly 24/7. The parking door was closed/locked from 8pm to 6am, cameras, lasers, rabid dogs and all... NO NO.

    But... hey, a shed somewhere in a back alley with a plywood door a 96 years old can easily kick down: yes no problem.

    I kept paying the higher fees until I was able to get them insured that way because I felt it was safer to keep them in the residential car park than aforementioned shed.


    PS.

    I have the bikes chained and one of them is chained to the floor with a ground anchor and Pragmasys chain and pin going through the frame, but I generally never declare it on the policy. It doesn't affect price that much and you might be in a lot of pain if the bike is stolen without the declared security on.
    Understood. They just sent me the “if it’s ever stolen and there’s any evidence of the steering lock not having been on I’m not insured” brilliant.

    The private garage is steel, behind steel mesh, concrete and surrounded by brick.

  3. #35
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    So, I waited to post this until he got the money.
    So my mate's KTM was stolen some time ago: https://www.ukgser.com/forums/showth...Arsenal-London

    He was insured with MCE and I was following closely as I'm currently with MCE and we have similar terms (massive excess).


    It took a couple of months and he got refunded as agreed – bike market value minus excess. Had to provide paperwork for service, etc. but they didn't try anything weird.
    So, for a change, positive feedback.

    It has to be said, brand new bike stolen from parking, so pretty straightforward.
    R1150R '03 [on hiatus]
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  4. #36
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    Thank you, er-minio

  5. #37
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    Quote Originally Posted by er-minio View Post
    They send out emails periodically.
    Garage is a locked structure where you only have access: basically a private lockup.

    Any residential parking where other people than you have access won't be classed as a Garage.
    Fecking robbing shyster insurance companies.
    Fancy them not classing a communal parking area as a garage, what is the world coming to.
    My parking space has solid white lines painted around it, what more do they want. .
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  6. #38
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    Have to add: the market value of the bike that MCE calculated and paid was actually higher (a reasonable amount, not a million quid) than what he declared for the policy.
    I think that removes my doubts about the practice of asking for the value when setting up a policy. Every insurer later states that they will pay market value – I always guess why they ask the owner for the value then.
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  7. #39
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    Quote Originally Posted by er-minio View Post
    He was insured with MCE and I was following closely as I'm currently with MCE and we have similar terms (massive excess).


    It took a couple of months and he got refunded as agreed – bike market value minus excess. Had to provide paperwork for service, etc. but they didn't try anything weird.
    So, for a change, positive feedback.
    Same as my experience with MCE. Showed service history etc and they paid a higher amount (less the excess) than the declared value.

    Never had reason to doubt the rationale for the service insurers offer

  8. #40
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    Last update on the insurance story, just for the record.

    My mate i looking to buy a replacement bike for the stolen KTM (he still owns an old R1200S that doesn't get used much). As expected, premium increased. He wasn't expecting this much though.
    Quoted with MCE and subsequently with other insurers, his premium went up on average 4X (in the thousands per year). Looks like he is not getting another bike this year as it would end up being too expensive (he'd probably rent it when he needs it).
    He re-insured the 1200S for third party only, as he was quoted 1300gbp +1k excess for fully comp.

    He's now trying to understand how long the increase will last.
    R1150R '03 [on hiatus]
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  9. #41
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    Quote Originally Posted by er-minio View Post

    My mate...He's now trying to understand how long the increase will last.
    Until Motor insurance premiums start to fall again, if I had to guess.

  10. #42
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    He will be considered "at risk" because he had one bike stolen.
    If I have to guess, but you are the 'expert'* in this field (if I remember correctly) the "risk" factor should go down with the years, correct?

    Like: I had an accident ages ago and my premium increased for 3 years, then dropped down again to pre-accident (+/- yearly increases) normal rate.
    In that case was because I couldn't be sued anymore (accident was with a pedestrian) by those pesky accident-claims lawyers.




    * not that is your job, but might have a bit more knowledge than the everyday bod
    R1150R '03 [on hiatus]
    R1200GS Adv '07
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    [I'm the biggest limit on my bike]

  11. #43
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    Rising / falling premiums are a possible factor of at least two things:

    A. A bod’s recent claim record; though some (many?) have found that their premium did not increase after a claim

    B. A generally rising or falling ‘market’, maybe distorted to some extent by region and / or make of vehicle and insurers’ individual appetites. For example, it is common knowledge that London is now less popular with insurers than it was even a year or so ago. Bikers have played their part in this, too.

    Your friend will know when he next applies for insurance.

  12. #44
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    Bikers have played their part in this, too.
    I know.
    I keep seeing a lot of bikes poorly locked/secured.
    I don't want to blame the victims... but FFS... some common sense
    R1150R '03 [on hiatus]
    R1200GS Adv '07
    HP2 Sport '11
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