3rd Party of Fully Comp?

[PhillVR6]

Right, so now I've passed my test I've got to get myself a bike. I'm currently veering towards a Yamaha FZ6 or a Kawasaki Z750.

My question is, should I really be looking at insuring it fully comp?

Prices seem to be aound £553 3rd pty f&t, and £850 fully comp.

All advise welcome.

Thanks,

Phill

[m1spw]

As someone asked me: "Do you plan on crashing?"

I just got my first bike and it was £450 TPFT, so I went with that because the FC would have been another £150. I couldn't really afford to pay that along with getting all the new gear, so it really depends. If you can afford it, get FC as it'll cost you a lot less in the long run if you crash.

[black-k1]

It's all a gamble! While TPFT will cost you more IF you crash, it'll cost you considerably less if you don't crash!

Do remember that if you also have a car policy, claiming on your bike policy will count against your car NCD. I have two car policies with a substantial NCD on both. I have worked out that over a 4 year period, the reduction in cost of the bike TPFT policy vs. fully comp. and the savings in NCD on the car policies is enough to buy either of my current bikes. This means that if I totally wrote off either of my bikes once every 4 years and didn't claim on my TPFT policy (simply bought a replacement) I'd still be better off then having fully comp. and claiming.

If you can afford to simply fork out for a replacement having totalled your current bike, then TPFT may well offer a cheaper option!

[dern]

black-k1 said:

Do remember that if you also have a car policy, claiming on your bike policy will count against your car NCD.

No it won't. You'll have to declare your accident to the insurers of your cars and they will increase the cost of the policy renewal because they will perceive you as a higher risk but it will not affect the NCD on those policies just the one you claimed on.

Mark

[black-k1]

Sorry, yes, dern is correct regarding NCD/policy loading. Either way, it cost you more!!

[degz]

I have been fully comp for years and it always crossed my mind to do it cheaper. I am now glad I didnt. 4 weeks ago 'mister I didnt see you' pulled out in front of me. My insurance got the bike recovered and assessed and repaired all on one phone call, The other guy has still not told his insurance company and I am sueing him for new helmet and leathers. I would have been stuck/mad/suicidal if I was waiting for his insurance to cough up. Its cost me a lot over the years but the piece of mind when I needed it was worth it. That was my first claim/accident in 30 years of riding (thats at least 4 days a week, all year round riding)You put your head in the most expensive helmet you can afford, consider doing the same with insurance.

[black-k1]

Assuming that the situation above is all the other drivers fault then all of the costs mentioned are recoverable from their insurance. Thus, if you only have third party cover, you will still get your money back.