Insurance renewal

[mthee]

Bennett's caught me out last year on an automatic renewal price, so I won't be staying this year. Also, having put the CB200 tank on and changed to a smaller headlight, plus other bits and bobs, is there a particular company to go for? Do I need to detail everything? And most importantly, am I about to get stuffed on the premium cost 

[Moto63]

Most companies Matt don’t inflate your premium for any “cosmetic” changes, it’s only any performance related changes that might affect it. Be very careful if you even changed the zorst system as this can be seen as “a performance” aid and if you don’t declare it then have an accident which is your fault your insurance will be null and void leaving you with what could be a very expensive bill to pay out.
How do I know this, because the police officer and the solicitor who dealt with my accident both told me the self same thing....  Just be aware 👍

[iansoady]

This is often said and I don't doubt you were told this. However, surely the onus is on the insurance company to demonstrate that any modification materially contributed to the incident or its effects. You have a contract with the company and in effect they are trying to get out of paying a genuine claim. I would be interested to see any documented instance of this happening.

It's also often the case that you may buy a used bike and it has had, unknown to you some "performance enhancement". How are you supposed to know this unless you're a qualified bike mechanic? Or the case of my ES2 which has a later Monobloc carb fitted in place of the 276. I know this as I know something about the model. Others may not.

[Mutt]

I can assist with the technical insurance bits:

Contrary to what any insurer's advertising may say about wanting to meet a claim there is an unseen back office that will look to find a way NOT to pay. In fairness this is usually when there is a significant amount of money that may be paid out - realistically in our sector that may mean where there is injury to others or damage to their property (imagine riding into something stupidly expensive like a La Ferrari that is parked). This would be the time that the insurer looks at what has been declared about modifications and if something has not been declared they could invoke voidance of the policy whether or not the modification has a material effect on the cause of the incident. This is because the statute that was passed in 2012 may be applied - if they ask you a question then you must provide a truthful answer to the best of your knowledge. This is a far better situation than existed previously in that you were required to disclose any material fact that might influence the underwriter's decision to provide cover! How do you know what is material or not to any particular underwriter. The statute righted that wrong but does allow the insurer to take action if they have not been told about something that they have asked.

So, if the bike is altered from it's original specification (modified) the insurer does need to be told if you know about it - good example is that of the carb i.e. if you don't know one carb from another and the bike you bought is fitted with a different one then you can only answer to the best of your knowledge; of course if you are subsequently aware the insurer should be told. One of my XBR's is fitted with a Predator 2:1 exhaust and a fly screen both of which was not a problem and which is what I had expected. You should not be stressed of say tyres that are the size as the original.

I would point out that if a policy was voided unfairly, in the individual's opinion, there is a process to have the matter referred to the Insurance Ombudsman who may be persuaded in favour of the individual and order the insurer to meet the claim. It can be a long process but worth it.

Of course there is danger that some of the well known bike insurers staff don't have real knowledge so you may have to be patient. There are several others who say they understand so they are worth a try.

For my 2 XBR's + a CX I've just renewed through Footman James at £113.78 - gives me the right cover and price. I'm not an advocate for them but it was a far better experience than previous dealings with Carole Nash even though they have common ownership.

I hope this helps everyone.

[Moto63]

Brilliant bit of advice... many thanks for sharing your knowledge on what can be and often is a very grey area. 👍
Cheers, Michael

[Moto63]

Just as a “be aware” notice, the solicitor who dealt with my accident had previously dealt with a bloke who had ultimately lost his house because he’d not declared certain things he’d done to his car. Then was involved in pretty serious accident so his insurance company washed their hands of him and any claims against him. I then asked the police officer once I was off the “under caution “ bit and he said he knew of a few different cases where people had landed themselves with big bills to pay for the same reason.... the only slight up shot to it was they were all car drivers he hadn’t heard of any bikers getting caught out with it.  Certainly makes you think though doesn’t it...

[themoudie]

Aye Mutt,

Thank you for your worldly insight and advice.

My current insurers are Lynbrook (Duke and Morini) and LV (2 SRX600 + Bros400). Lynbrook were good to deal with and reasonably priced for the value requested, but had just been taken over by another parent company from the Channel Islands. So will see how things go when first renewal time arrives. LV were very good and easy to deal with, also give a discount because of my motoring club membership. Good combination prices of motorcycles, car and house. Excellent service after being involved in a collision with an Audi TT (SIDSU), but inspite of this all motorcycles with my name on doubled in cost at the next renewal. So, likely to transfer all motorcycles across to Lynbrook and just keep the car and house with LV.

Good health, Bill

[iansoady]

Thanks all for clarifications.

[mthee]

Many thanks for the info - answer all the questions truthfully, but don't volunteer anything further? SWIMBO interrogation has prepared me well!

[mthee]

Just got a quote from Footman James online.

I got to choose a maximum of 5 mods from a drop-down list of 67. I actually have 12 from their list to declare. Some didn't make immediate sense as to why, presumably, they inflate your premium, e.g "De-badged", "Bar Ends", "Tank Pads" (added? removed? didn't say )

There was nowhere to input my 9 years no claims.

It quoted £187 for XBR500, annual mileage 3000, which was more than Bennett's and who knows what I'd have been quoted, had I been able to input the full 12 mods!

I'd love to see what weighting insurers give next to each mod - more transparency would surely attract more custom, so long as the premiums are ballpark?

Just a thought - is anyone with an insurer who has a reward for referring?

[Mutt]

Nothing surprises me nowadays when it comes to the premium charged. Due to "the computer says" world long gone are the days when a rating matrix could be seen by the broker who could discuss/interpret/educate with insurer &/or the customer.

Aside from any modification the key rate factors (assuming no accidents or offences) will still be: age, post code, where kept overnight, annual mileage, pillions and the make/model. The value itself may not influence as much as may be thought, however the usage/mileage may do so i.e. pleasure use only v commuting or business uses at which point occupation may also be a factor. The Footman James cover doesn't use NCB so they don't ask.

It transpired this week that Bennetts have been sold to the owners of Carole Nash/Footman James/Autonet; so expect economies of scale to be employed at a future date!

[iansoady]

Any such economies (paid for by sacking employees) are unlikely to find their way to policy holders.

[Richard]

I find it remarkable that our insurance increases should we wish to use the machine as designed - to carry a passenger.

Will this find its way into the car market?  Has it already?