Moderator DirtyDT Posted August 1, 2014 Moderator Share Posted August 1, 2014 Well the question is; Is it worth having classic insurance given the restrictions against the benefits? I think I know the answer but wondered what people thought. I am not talking huge money here and, given the ratio of a premium to payout, If I wrote the RD off without causing damage to anything else it would take 40 years of future claims free policies for the insurance company to break even. Presently I have the FZ on one policy (with Swintons) and a RD400 and TS250 on a classic multibike policy with Lee at Bikesure. It's the classic policy that is up for renewal but I have SORN'ed the TS and going to get the RD only insured this year - probably! I haven't heard from Bikesure yet but I got a "please come back" letter from Carole Nash so I gave them a call earlier to gauge what I should be looking at, premium wise. They quoted me on a classic policy for the RD only. The number did make me laugh. I told the guy that I would not bother calling them anymore. I went on to moneysupermarket site and popped in the details (I am guessing for a non classic policy). I got 22 quotes, all under what Nash's was asking and the cheapest less than half of Nash's quote. I will wait to see what Lee can sort for this year before I do anything but back to the original question; Is it worth having classic insurance given the restrictions against the benefits? Link to comment Share on other sites More sharing options...
Moderator drewpy Posted August 1, 2014 Moderator Share Posted August 1, 2014 well yes, after the moped got written off I get the agreed value, otherwise it would have been £50 tops and that's with it not being my fault Link to comment Share on other sites More sharing options...
obriens65 Posted August 1, 2014 Share Posted August 1, 2014 It's horses for courses really. I looked into classic insurance for my TR1 but in the last year I've done more than double the allowed mileage so for me it wasn't feasible. It all depends on how, and how much, you use the bike. Link to comment Share on other sites More sharing options...
Moderator DirtyDT Posted August 4, 2014 Author Moderator Share Posted August 4, 2014 I will probably opt for the classic policy again. It's just all the extra messing about. Pictures of the bike, pictures of my licence, fill in a form to state the mileage etc. be use I have a multibike policy there has always been issues with people sending me 2 of each with the correct reg numbers on. Think I will PM Lee now to see what he can do. Link to comment Share on other sites More sharing options...
Moderator DirtyDT Posted August 4, 2014 Author Moderator Share Posted August 4, 2014 Looks like it is Lee at Bikesure at the moment on a classic policy, agreed value for both bikes. More later - when I get a callback from the renewals team and pay some money. Link to comment Share on other sites More sharing options...
slice Posted August 4, 2014 Share Posted August 4, 2014 Sorry to jump in with a question but just so I know, What is a classic policy and how is it different to a normal policy? Heard about mileage limitations but nothing else. It's just that at the moment I have the 82 XJ and the 90FJ and as I only do about 2/3K a year wondered if it might be easier than faffing around with one policy for the each bike. Again sorry I could look it up but seems you get more info from people who have done it rather than trawl through about 400 pages of waffle! Link to comment Share on other sites More sharing options...
Moderator DirtyDT Posted August 4, 2014 Author Moderator Share Posted August 4, 2014 The main differences I can tell is that you can get agreed value but have to limit certain parts of the policy such as mileage and security when not ridden. Apart from the big benefit of agreed value, the other is recovery. Often vehicles need to be under a certain age to get this as a separate purchase. Financially, I can't see any cost savings nor any to a multibike policy with most insurers but that might be because my premiums are low anyway. Even if the risk of accident etc covers both bikes, the recovery will only apply once as you will only be riding one bike. I have never used it yet. The one time I needed to recover a classic, due to a puncture, I used the policy that comes with one of my bank accounts. 1 Link to comment Share on other sites More sharing options...
slice Posted August 4, 2014 Share Posted August 4, 2014 Ok thank you for that I shall stick to the old way of doing things. Which arm or leg would you like me to leave as a deposit? Link to comment Share on other sites More sharing options...
oldtimer Posted August 4, 2014 Share Posted August 4, 2014 The main differences I can tell is that you can get agreed value but have to limit certain parts of the policy such as mileage and security when not ridden. Apart from the big benefit of agreed value, the other is recovery. Often vehicles need to be under a certain age to get this as a separate purchase. Financially, I can't see any cost savings nor any to a multibike policy with most insurers but that might be because my premiums are low anyway. Even if the risk of accident etc covers both bikes, the recovery will only apply once as you will only be riding one bike. I have never used it yet. The one time I needed to recover a classic, due to a puncture, I used the policy that comes with one of my bank accounts. Insurance is one big nightmare, single policy? Multipolicy? Six wheel policy tried them all none of them appear to be any cheaper last year I almost considered giving up having more than one bike and carol Nash can shove there policy's where the sun don't shine I was with them for years from when carol started and did them from her kitchen but for some reason everybody tells me it must be great being 67 years old your insurance must be cheap well for some reason once I got to 65 it seems to be going up ? WTF. I give up Link to comment Share on other sites More sharing options...
Moderator DirtyDT Posted August 4, 2014 Author Moderator Share Posted August 4, 2014 Hi Oldtimer, I hope you are well and I might see you in a few weeks time. Carole Nash quoted me more for the RD400 than I pay for the FZ8. Bikesure quoted a little more for both the TS and RD on a multibike policy than Carole Nash for the RD on its own. The cheapest single, non classic, basic, fully comp quote for the RD only was £75.37 with the next cheapest coming in at £76.13. That is without any restrictions on home storage, no restrictions on mileage, no extra security required when parked out and about. I haven't heard back from Bikesure yet. Their renewals team were supposed to be calling me back today. 1 Link to comment Share on other sites More sharing options...
slice Posted August 4, 2014 Share Posted August 4, 2014 DT, Just as an aside, just got a quote for the FJ which was £66.75 from Gocompare which is pretty good I think, fully comp and leathers, well jacket and lid anyway, so will be on the road soon !!! Link to comment Share on other sites More sharing options...
oldtimer Posted August 4, 2014 Share Posted August 4, 2014 Yeh will be there at squires,having been a widower for 25 years and a happy single biker left Antwerp and started to spend a lot of time in hamburg then the usual story met a woman and was due to spend the next 3 weeks in hamburg but due to my bad behaviour on Saturday and a big row I am back home single and happy. Both my bikes and cars are due for insurance in September so the nightmare will begin all over again LOL At least in hamburg no one tried to steal my bike or car over the last six months unlike Antwerp 3 times I had attempts at having it away with my bike,which is why I don't stay anywhere for more than a month at a time as insurance over the 90 days gets silly Link to comment Share on other sites More sharing options...
Moderator DirtyDT Posted August 5, 2014 Author Moderator Share Posted August 5, 2014 I hope to see you there OT. Bikesure have called and all sorted for next year now. I insured the 2 on the same classic multibike policy. Fully comp, agreed value (just got to fill in and email back some pics) and including recovery. The 2 bikes cost £15 more to insure than Carole Nash wanted for the RD on its own. Thanks to Lee and the team at Bikesure. It is worth a call or PM to Lee if you are looking for some insurance. Link to comment Share on other sites More sharing options...
Moderator DirtyDT Posted August 5, 2014 Author Moderator Share Posted August 5, 2014 .....Bikesure have called and all sorted for next year now. I insured the 2 on the same classic multibike policy. Fully comp, agreed value (just got to fill in and email back some pics) and including recovery. The 2 bikes cost £15 more to insure than Carole Nash wanted for the RD on its own. Thanks to Lee and the team at Bikesure. It is worth a call or PM to Lee if you are looking for some insurance. Update - there may be more on this so watch this space. 1 Link to comment Share on other sites More sharing options...
Moderator DirtyDT Posted April 14, 2015 Author Moderator Share Posted April 14, 2015 Well there was no further posts required on this at the time however; the FZ insurance is due at the beginning of May. I got an email the other day from a compare site with quotes for the FZ. Not bad prices, at the lower end, but one thing they do is keep leaving enquiries on my credit report. I don't want credit from them and it P'eed me off. I didn't update any details, they just sent the email. My present FZ policy is with Swintons. I also have 2 of the classic bikes insured with with Bikesure and the other bikes just sat in the workshop. Annoyed with the compare sites intrusion I got a quote from Bennett's. This was very good however; I discovered that they are part of the same group as a compare site so no business for them. I called Swintons to see what they could do this year. £214, I don't think so. I called Bikesure. After a quick chat the quote was a couple of quid more than Bennetts so I decided that I would get the FZ onto a Bikesure policy too. Come 5th May Bikesure will host policies for 3 of my bikes. Thanks to Josh at Bikesure for the great customer service. He had to call me back as I couldn't finalise the policy owning to the fact that I didn't know what the FZ reg was. All done now. Link to comment Share on other sites More sharing options...
Moderator Cynic Posted April 14, 2015 Moderator Share Posted April 14, 2015 Have you tried cia insurance. Link to comment Share on other sites More sharing options...
Moderator DirtyDT Posted April 14, 2015 Author Moderator Share Posted April 14, 2015 Have you tried cia insurance. No, nor FBI insurance. Joking aside, I haven't but I will have a look in August when another 2 policies are due. Cheers Jason. Link to comment Share on other sites More sharing options...
blackhat250 Posted April 14, 2015 Share Posted April 14, 2015 I"v only one classic now, the expensive ones are sold, so may just get a normal policy, as DT is not valuable, do bikeshure give breakdown cover, ? Link to comment Share on other sites More sharing options...
Moderator DirtyDT Posted April 15, 2015 Author Moderator Share Posted April 15, 2015 The breakdown cover was quoted at £50. I didn't take it up. One RD and the TS have it, the car has it (I have ordered another one last week anyway). And I have a 10 mile recovery with a bank account perk thing. The RD and TS insurance is up in August and I may just get breakdown cover to cover all bikes. Better to have one policy that covers everything than half a dozen policies that I have to keep paperwork on. Link to comment Share on other sites More sharing options...
Moderator Cynic Posted April 15, 2015 Moderator Share Posted April 15, 2015 The breakdown cover was quoted at £50. I didn't take it up. One RD and the TS have it, the car has it (I have ordered another one last week anyway). And I have a 10 mile recovery with a bank account perk thing. The RD and TS insurance is up in August and I may just get breakdown cover to cover all bikes. Better to have one policy that covers everything than half a dozen policies that I have to keep paperwork on. That sounds bloody complicated. I have an old policy through cia insurance that nobody has ever bettered. Both bikes are on it. TDR for 2k and the dt for 500. Neither are used for transport now so the classic restrictions, mileage etc are irrelevant for me. Been with them for years. Cost me 130quid this time round. Just have to threaten to cancel every renewal and your a winner. My breakdown cover, covers ME! Any vehicle. Far simpler. 1 Link to comment Share on other sites More sharing options...
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