There was lots of interest in insurance companies recently so this was my experience... So this was the last I saw of my 4 month old bike back on the 24th August. Insurance first offered £9200 which I rejected and then £9677 which I have accepted. This was for a non ABS Repsol with hugger, seat cowl and R&G tail tidy. Lessons learnt. 1. Insurance companies are cnuts. 2. Declare your extras, they increased my pay out on the basis of this. 3. Get GAP insurance next time. I wasn't really aware of this but will definitely get it next time. 4. Always read the small print 5. Insurance companies are cnuts. My best quote for replacement like for like was around £10600 so including my £500 excess I'm £1500 down, but I get another brand new bike whereas the old one had nearly 4K on the clock. So an expensive day out but not the end of the world. The actual replacement will be an ABS Repsol (see the old "To ABS or not To ABS" thread soon). Deposit paid, should pick it up in a week or two. Got a good deal including the performance pack most of which I'll be flogging off. Keep an eye on the For Sale section for some bargains soon. Gap insurance seems good value. I've been quoted £128 for three years bike replacement cover. This means if I write off the bike at any time over the next three years they will cover the difference between what the insurance company pay out and the cost of a brand new bike of the same spec. For an extra £40 a year I'll have some of that. Another thing to come out of this was the small print bit. I originally went through the Bikeinsurer website which came up as H&R as the cheapest deal. After choosing that and filling out the H&R part they offered me 4 different deals with different insurers. I read the policy documents and went with Chaucer as the they didn't specifically rule out cover on the Nurburgring. This was about £70 more but I was happy with that. When checking the policy document I received they do rule out the Nurburgring. The document you see when purchasing via H&R is out of date. This error still exists now but I will be bringing it to their attention.
Totally agree with you about Insurance mate, there a law unto themselves, its always the same they take your money then do everything possible to wriggle out of paying you the right money. Glad your getting things sorted though mate, and a nice new shiney bike is always a good feeling, di you get it from Doble Honda by any chance
Hey, Abv,glad to see you're, at least, on your way to a result. It's wrong when you have to approach a process that you are required by law to follow with captain paranoia sat on your shoulder, that's why, once I'm more acceptable in the eyes of the underwriters I intend to go through an actual broker, not a virtual one. A bloke sat across the table from me to whom I'll be more than happy to pay a commission just for the pleasure of having someone else deal with the evil undead. I can't help but feel I was lucky when I insured the FireBlade with Bennetts that the geezer I spoke to on the phone was a Gxrr pilot who'd just had a similar off to me and was falling over himself to be helpful. I doubt I'd be that fortunate again.
well at least your getting somewhere. GAP is great for that just in case. I did it on the Speed triple but after 3 years did not get anything as I did not write the bike off. Hope you get back onto 2 wheels soon mate
At least it is getting sorted .. My mate crashed his bike and they wanted to give him book price which was 3 grand less than what he paid lol
I would imagine most (if not all) insurers will exclude the Ring unless you're specifically including TD insurance (which MCE do for an extra £70, I think?)
The Ring is not a race track, it is a one way toll road. All German traffic laws apply. People can be and are prosecuted for breaking traffic laws. If you have an accident it will be investigated. Unless an insurance company specifically rules this out in their policy document then you should be covered. I'm sure you may have a big fight on your hands (see points 1 & 5) but you should still be covered. I've just got a quote for the new 'blade that doesn't rule out the Ring with KGM though H&R. This time I when to KGM's site to check the policy document wasn't out of date.
It's not a race track, true, (it's a one-way toll-road) but for insurance purposes it is usually considered as a racetrack. If you find an insurer that doesn't explicitly exclude it as such then job's a good 'un.
Glad you got it sorted in the end Just to ask did your insurance go up by much now that you have made a claim
A little bit of good news today. Just insured the new blade for less than my premium back in April ! £320.60 fully comp, protected no claims Protecting your no claims is defintely worth doing. It did cost me £30 to cancel the old policy which I had claimed on in order for for them to release my no claims bonus which I thought was a cheek. New bike ordered and will pick up in a couple of weeks. Just need to sort out some gap insurance now.
Lucky .. I tried to cancel the policy on my Supermoto and they wanted me to pay in full so i transferred it to the BSA
God my van went up another £100 with an extra years no claims bonus....i know now that i should right it off buy a new one and then re insure it for cheaper.... who did you get your insurance with now
I went through thebikeinsurer.co.uk which gave me H&R as the cheapest broker (same broker as before) they then have me 4 options of which KGM were the cheapest. The agree to replace the bike with a new one if written off in 6 mths (hopefully not going there again) and also don't specifically rule out The Nurburgring. The only reason I can think of the price difference is that I turned 40 in August. Age has some benefits !
Have you said that you have been in an accident ? I went through the thebikeinsurer.co.uk and i didnt get asked about any accidents and a month after i took out a policy i had a letter saying they was going to cancel it as i had not told them of a crash i was in. I wasnt in a crash physically but my car was bumped in a car park and the drivers insurance paid for the paint to be touched up. I hade a nightmare getting it al;l sorted after that and had to pay a fine for not telling them
Yep, gave all the details of the accident on line. I even rang them to confirm that it was ok that I had put down details of a claim but also put 4 years no claims bonus entitlement which was when they made me cancel the previous policy to free up my no claims bonus. Apparently you can't use it on two policies at the same time. Not too sure about this, surely If I bought a second bike I wouldn't have to pay a premium as if I had no no claims ?
Insurance is about risk and loss, if you apply GAP to your bike your wifes car and your car and consider the number of times you are likely to right off a vehicle in your life it would not take much to make up the £1500 you lost? It is retrospectivly a good thing, ie after a claim but at what cost. An example is the individual cover on your white goods and TV etc. in your home, for each item it seams a good idea, however, the amout you would collectively pay out each year would replace one or two of the items IF they go wrong? Personal choice but think it through before you pay out? Please to see it sort of worked out for you, bike looks a mess hope you were ok?
