To fully comp, or to not fully comp - that is the question

[StevRS]

I'm amazed you actually asked the question TBH!!

[King Herald]

black-k1 said:

I have never (in 30 years of riding 28 years of driving) had a fully comp policy where there has been the option of TPFT. The money I have saved over the years, if invested, would have likely paid to replace every vehicle in my garage and left me enough to buy a 1098R! For me the TPFT gamble has definitely paid off.

But if you HAD written off a couple of bikes, or had someone reverse into your price and joy in a car park, or any one of a dozen other scenarios, you'd be writing a story something like: "I've had three accidents and I'm sure glad I paid the little bit extra for fully comp cover, saved me a bundle of cash".

Having a pile of scrap in your garage, unrepairable, and still a couple of years payments due on it, and no money to buy another bike, and only TPFT to show for it, must be a real nightmare.

theturbs said:

There's this too:

http://www.pistonheads.com/gassing/topic.asp?h=0&a...

I read that thread before getting insurance for my Harley a couple of months back, so decided to go to Carole Nash instead. Bennets wanted but £95, fully comp, Carole Nash charged £170, but I thought it'd be worth paying a bit extra to a reputable company for my first bike in 7 years.

Just hope I never need it.

[black-k1]

King Herald said:

black-k1 said:

I have never (in 30 years of riding 28 years of driving) had a fully comp policy where there has been the option of TPFT. The money I have saved over the years, if invested, would have likely paid to replace every vehicle in my garage and left me enough to buy a 1098R! For me the TPFT gamble has definitely paid off.

But if you HAD written off a couple of bikes, or had someone reverse into your price and joy in a car park, or any one of a dozen other scenarios, you'd be writing a story something like: "I've had three accidents and I'm sure glad I paid the little bit extra for fully comp cover, saved me a bundle of cash".

Having a pile of scrap in your garage, unrepairable, and still a couple of years payments due on it, and no money to buy another bike, and only TPFT to show for it, must be a real nightmare.

As I said, it's a gamble (as all insurance is.) The other thing is that I never buy a bike unless I have the money to pay for it. (It’s a novel concept these days but it’s how buying luxuries used to work in the past!) I may take the finance deal/loan because it actually works out cheaper over the x years it has to be paid back but the money to pay it is already ‘in the bank’ thus I won’t get caught in that scenarion.

[King Herald]

black-k1 said:

The other thing is that I never buy a bike unless I have the money to pay for it. (It’s a novel concept these days but it’s how buying luxuries used to work in the past!) I may take the finance deal/loan because it actually works out cheaper over the x years it has to be paid back but the money to pay it is already ‘in the bank’ thus I won’t get caught in that scenarion.

Don't you feel a little selfish for not having contributed to the Kredit Krunch?

I tend to buy things as and when I can afford the cash nowadays, but I was never so wise when younger. Saving money was an alien concept in those early days.