Guys, I decided to call my insurance company today and declare my many modifications. They total roughly £1600 in value but many are aesthetic or for crash protection. The only performance changing items are a Racefit Growler Black edition and a PCV. However the insurance company want an additional £400! When challenged over this they argued that the bike has become more valuable and more desirable. Is this financial burden something that all my fellow modders have had to swallow, or is there a way to ease the pain? Cheers guys!
I haven't had a problem with it, but I've never added a power commander ... exhaust upgrades and a bit of bling haven't seemed to bother any of my insurers (yet)
Who are you with? If you don't mind my asking? I understand that £1000+ of mods will require a bit more money as the value they'd have to pay out for theft or damage would be higher, but £400 extra seems to take the piss!
Most of the bigger insurance companies note the mods and exclude them in a claim - they insure the stock bike essentially. Or that's what I thought.
my insurance company (bennetts)only wanted an extra £114 to change over from a zx6 with an ongoing claim with roughly 15 mods! i know they will want to sting me the second year though so will have to change
yes they CAN do, BUT they can use undisclosed mods as an excuse to void your insurance. You pays your money...... On another note, Genuine Honda parts are FAR dearer to replace than aftermarket bling. New forks OEM items are dearer than Ohlins, same for the stock can in comparison to Yoshi or Leo Vince. It doesn't compute to me, as aftermarket claims would save the insurers thousands....
It was the power commander that had the material impact on my old rr8 insurance. They were happy with the rest but put a big loading as soon as I added that
Insurance companies want to know what they are covering so if you don't declare mods they have every right to say 'this is not the risk we believed / declared to be covering' As others say if you declare mods the insurers I have used will only replace with standard parts. Also the bling makes bikes stand out, or the theft value to sell the bling can be a factor the underwriter may consider. An example with cars would be a totally stock 'warm hatch' and one which has been 'slammed, tinted, big zorst, stereo, spoilers etc. etc. - if you were an insurer which would you want to cover and would you want to charge a difference in premium for the latter over the former?
You're completely correct in your explanation. In fact it's pretty much word for word what the insurer said, but the additional £400 seems very steep considering most mods were crash protection in various guises. I appreciate this is a 2014 blade and my first litre bike, but £900 annual insurance is crazy! Especially as I'm already a quarter through this year's coverage, so the £400 is only factored for 9 months!
I was with bennetts and as well as being useless in many ways, like cancelling policy by accident because I asked them how much it would extra to add a race can on my bike, and in any case wanted to charge £200 for the race can. Anyway, now with Carole nash and they allow 3 mods for free inc exhaust etc ( even if you are planning to whilst the policy runs I told them what I was going to add in the next few months and not now and they still noted it so I don't have to ring them back ) and so far really impressed with them, a little bit more in their premiums ie £100 or something, but a far more sensible insurer and easier to ring etc loads better customer service. So all depends on the insurer, but I would tell them as they don't need more excuses to not pay you out in the event of a spill.
It's not the fact it your first litre bike why it's expensive its cos its new, I have ridden for ages, 8 yrs ncb, but 6 points and a crash in last 3 years, and still my insurance jumped £400 from a multi bike policy with Ducati 998 and old aprilia tuono because I swapped the tuono for a 2014 blade! A couple of years ago my 954 was only £160 for the year.
How easy is to check you have pcv if you have a claim ? I think when you renew it's not so bad its just during your policy that changes are expensive
I'm with motorcycle direct and have my mods declared and the premium never altered. My mods were hugger, seat cowl, tail tidy, levers and yoshi r 77 can.
Most decent companies will class a slip on as cosmetic as no big power gains, power commander is allways a killer as you can change the power considerably and there is now way they can really tell how much. However according to the previous owner of my bike he fitted some box that has increased the miles per gallon by making the bike run smoother, can't remember what he called it though
Having complained that £400 extra was too steep, the underwriters referred my case to their top boy and although it took two days to make the decision, they have offered it at £250 extra, which i accepted!
I think bennets are they only ones who list mods that do not affect your premium. Cosmetic mods can make the bike more attractive to thieves and depending on how much you have spent increase the value of the bike. So it is not unreasonable for the insurer to increase the premium. Having said that, I have fitted rad guard and dD screen; I would not expect them to impact the premium. Performance upgrade like pc which are not visual generally affect the premium, car, bike; all the same because of the additional riding risk factor. Performance upgrade that are visual, will double tax your premium. I think you took the best route by discussing it with them and reducing the premium
