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jebby



Joined: 11 Aug 2012
Posts: 7
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PostPosted: Wed Apr 23, 2014 2:53 pm    Post subject: expensive insurance Reply with quote

Hello, thought I might warn anybody thinking of buying a scooter to check out insurance first, I didn't and was to my cost.
The scooter was only intended to do 300 miles a year, if that, so only 3rd party insurance is required. After trying at least a dozen companys the best I was quoted was 85. The worst was 160. I have had a full uk licence for 41 years, never had a claim. My BMW bike is 45 tpf&t insurance, my enfield the same both do over 3000 a year, my car is 170 fully comp insurance. I am totaly baffled as to why a scooter insurance is so expensive when it is no liability to the insurer if anything happens to the bike. I have put up with being what I cosider being ripped off for two years. As it is, I will not bother and leave it at the back of the garage till I can find someone who wants a scooter in good condition with 600m. on the clock.


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chaz



Joined: 30 Jun 2012
Posts: 547
Karma: +16

Location: melksham wilts

PostPosted: Thu Apr 24, 2014 11:35 am    Post subject: Reply with quote

do you realise it costs more to repair these scooters than they are worth/cost? we have had a couple of chinese bikes to insurance repair estimate and cost is high the insurance companies end up writing them off. they then hget put on copart auctions for around 175 scrap value.
high price of parts and low resale value means any repairs are big losses for the insurance firms.


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jebby



Joined: 11 Aug 2012
Posts: 7
Karma: 0


PostPosted: Thu Apr 24, 2014 1:19 pm    Post subject: Reply with quote

Hello Chaz,
Yes I did know of the high cost of repair, but I was after 3rd party insurance and as such ,is no cost to the insurance company.
If I wanted tf&t insurance or fully comprehensive I would expect a high premium. But for third party only, the insurance company have no liability if the scooter is stolen, crashed, crushed, set on fire, or totaled. So the high pemium quoted to me seems unrealistic.
Nice to have your views though, thankyou


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chaz



Joined: 30 Jun 2012
Posts: 547
Karma: +16

Location: melksham wilts

PostPosted: Thu Apr 24, 2014 7:05 pm    Post subject: Reply with quote

problem is... a claim or notification goes on the MID motor insurers database. long term this can, if you scrap it or write it off it will end up there even iif sold to a breaker as it has to come off DVLA and VOSA and MID databases. so you don't get or future owner, get charged road tax etc.
we buy the odd scrapper class c or d but have to go round the houses for class b these all involve paperwork.
yes I also ride CBR600, Ducati750 Yam R1,BSA and Triumph chops amongst many others and owning a bike shop get a few insurance and non insurance jobs in. we have even talked insurance companies out of scrapping bikes as we can prove we can rebuild cheaper using used rather than new parts as cheaper option for youngsters on low money and helps insurance out.
Had you thought of a multibike policy, Carole Nash do them.


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