would you consider just 3rd party insurance?

[A500leroy]

As above really, we all know if you make a claim for theft then your bike ( and car insurance) is going to rise, ( not sure by how much though).
Whats the optimum value you would consider using just 3rd party insurance on? a grands worth of bike? 5 grands worth of bike?

Thats even if they decide to pay out, theirs that many contradictory clauses on my insurance now that im not sure its even worth the extra premium.

[wsn03]

No...just get a protected no claims policy

[scorcher]

You'll still get stung for any other claims that involves a 3rd party though so not sure its worth it, even if the premium was low. In London or other high risk theft areas it may be a different kettle of fish, but not around where I live. They'd probably still want you to declare any thefts anyway regardless of whether you claimed for them, so you'd still get stung.

[Tyre Smoke]

wsn03 said:

No...just get a protected no claims policy

Why?

You pay a premium to 'protect' your NCD, but your insurance cost will certainly rise at renewal time if you have made a claim/had a claim made against you because you are now deemed a higher risk. You might still have 60% NCD or whatever, but I'll bet my left kidney your cost will rise.

[kiethton]

I use TPO policies, mainly as others are just not viable.

£1000 worth of 2010 Honda CB600F (bought as salvage), 55k miles, garaged in south London and used to commute to the city. 29 years old, 6 points (one SP50/£300 fine) some non-fault accidents, 4 years bike experience (50% on a CBT) and 2 years NCB.

TPO - £250
TPFT - £1,200 with £1,000 theft excess
FC - £1600

Mike bike is disposable, anything more than staying legal just doesn’t make sense for me

[MDUBZ]

I suppose level of cover you go for will depend on what quotes you have been given, how much you are prepared to spend and your risk appetite . Even with protected NCD your premium will likely go up as you will be deemed higher risk you just have the higher discount applied.

I'm only paying £300 fully comp with protected NCD so i don't see the point in third party at this price point. for ref: 40 with only one years experience on a bike, no convictions, bike would cost ~£8-9K to replace (which i wouldn't want to fund): It's locked up in a garage to an anchor and has a tracker fitted.

Edited by MDUBZ on Wednesday 7th November 13:26

Edited by MDUBZ on Wednesday 7th November 13:27

[Esceptico]

kiethton said:

I use TPO policies, mainly as others are just not viable.

£1000 worth of 2010 Honda CB600F (bought as salvage), 55k miles, garaged in south London and used to commute to the city. 29 years old, 6 points (one SP50/£300 fine) some non-fault accidents, 4 years bike experience (50% on a CBT) and 2 years NCB.

TPO - £250
TPFT - £1,200 with £1,000 theft excess
FC - £1600

Mike bike is disposable, anything more than staying legal just doesn’t make sense for me

That's interesting. In the past I did ask when getting a FC quote for the TPFT equivalent and there was almost no difference. I didn't ask for TPO only though.

[black-k1]

The assumption here is that third party insurance will be cheaper. While it's for TPF&T and not TPO, see my post dated 07/Mar/17 in this thread

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

Be careful of assumptions!

[wsn03]

Tyre Smoke said:

wsn03 said:

No...just get a protected no claims policy

Why?

You pay a premium to 'protect' your NCD, but your insurance cost will certainly rise at renewal time if you have made a claim/had a claim made against you because you are now deemed a higher risk. You might still have 60% NCD or whatever, but I'll bet my left kidney your cost will rise.

The numbers stacked up for me when I had to make a claim ... over the long run too. Probably depends on circumstance, policy etc

[Bumblebee7]

I think in London, on a cheaper bike it makes a lot of sense. I'd rather spend the money on more security than on insurance. In London it is definitely the cheapest option having third party only. I know bikers who had more expensive (£4k+) bikes on TPFT and had them nicked, next time around no insurer would even provide a quote so they ended up with cheaper bikes and TPO. So for many it might be better to remove the middle step, buy a cheaper bike straight away and get TPO. As a side note I have TPFT but my excess is so high it would never really make sense to even make a claim as the excess is 80% of the value of the bike.

[DJP]

My circumstances are slightly unusual and my premium has already doubled due to the London theft epidemic even though I'm highly unlikely to be affected by it.

I've also never made a claim in 30 years riding, hence all told there are strict limits on how much I'm prepared to pay.

I currently pay £240 FC (up from £120 last year) on a bike worth around £5k so it's currently worth it but if the premium were to double again I'd have to seriously look at TPO.