Author Topic: Insurance Value  (Read 254 times)

Offline florence

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Insurance Value
« on: June 13, 2022, 02:59:35 PM »
I am just renewing my insurance and was surprised how much my premium had gone up and so I am in the process of looking for other quotes.

I haven't thought about or changed my bikes value for many years.  What do we think is a reasonable amount to put for a scruffy, perfectly running and well maintained CB500/4 considering what it would cost to replace if someone stole it?

Offline Nurse Julie

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Re: Insurance Value
« Reply #1 on: June 13, 2022, 03:07:07 PM »
It's got to be worth £1500- £2000 in my view, maybe a bit more. The value, I've found, doesn't make any odds to the premium. I've got a 550/4 Mongrel that I value at about £3500, insured fully comp for £58.00 and a beautiful 500/4 that I value at about 8k, that cost me £55.25 fully comp. Both insurances were renewed within the last 3 weeks, so current prices. Speak to Swinton, they are very, very helpful.
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Offline florence

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Re: Insurance Value
« Reply #2 on: June 13, 2022, 03:14:11 PM »
That is amazing, Carol Nash wanted £167, thanks very much.

Is that with MC club membership?
« Last Edit: June 13, 2022, 03:18:53 PM by florence »

Offline Nurse Julie

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Re: Insurance Value
« Reply #3 on: June 13, 2022, 03:18:52 PM »
That is amazing, Carol Nash wanted £167, thanks very much
I have one policy with Carol Nash for a CB750/4 and that's only £62.00. I know it depends on personal circumstances etc but you should get it for a lot, lot less than £167.00
No, i don't belong to any clubs so no discounts.
Im a Nurse, trust me, this won't hurt.....much !!!

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Offline florence

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Re: Insurance Value
« Reply #4 on: June 13, 2022, 03:19:25 PM »
I must have been with them too long

Offline Nurse Julie

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Re: Insurance Value
« Reply #5 on: June 13, 2022, 03:20:32 PM »
I must have been with them too long
Quite possibly.
Im a Nurse, trust me, this won't hurt.....much !!!

LINK TO MY CB400/4 ENGINE STRIP / ASSESSMENT AND REBUILD...NOW COMPLETE
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Offline SumpMagnet

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Re: Insurance Value
« Reply #6 on: June 13, 2022, 06:49:35 PM »
Insurance is a bizarre world!

I found my premiums went down last year by a bit, as I stopped commuting on it for 6 months, so was only usding it for pleasure...but they increased it when I was out of work. Apparantly...the unemployed are a higher risk as they 'may not be able to pay the policy excess' .... you what??? That was genuinely what I was told.

This year....my policy went down again as I am working. Less of an insurance risk commuting in London traffic than I was with no job.
CB750F2 - in pieces
CB900F Hornet - the daily transport

Offline MCTID

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Re: Insurance Value
« Reply #7 on: June 14, 2022, 10:20:41 AM »
I have had many a laugh with my Insurers over recent years....it's evolved into a bit of a 'sparring match' whenever I have phoned them up. The best one I recall is the long drawn out pause when I asked the Lady on the phone 'Are you taking the pi**' ? She seemed to have no real understanding of how risk and premiums are closely linked and interdependent, when I suggested that in order to reduce my premium on my second car (hardly used) that I could reduce my allowed mileage or change my cover from Comprehensive to 3rd party and she replied "it will make no difference to the premium'" !

As a bit of light relief, take a look at this video where Irish MP Pearse Doherty goes through the actual numbers of fraudulent claims each year by the main insurance companies. They don't come close to the claimed 20% the insurance companies say are happening. It's closer to 1% or fewer.

https://www.youtube.com/watch?v=Z6GyT5cV6jw
Now: 2007 CB600F, CB750K4. 1970 Bonneville. Various other 1960's 650 Triumph T120's/ TR6's/ TR6C's. Previous: 1976 CB500 Four. BMW F800ST. GS750E. CB1300 (2). ZXR1200S. VFR800. CB750 Nighthawk. CX500. XS500 Yam. Suzuki GT500. BSA A10. Various Lambrettas. Zundapp Bella (honest).

Offline paul G

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Re: Insurance Value
« Reply #8 on: June 14, 2022, 11:07:12 AM »
I have 4 bikes insured with Bikesure all with agreed valuations £147

Honda CB400 4
Honda CB550 K3 (sold)
Honda CB750 UK K1
Kawasaki Z650 C2
Kawasaki Z650 cafe racer (Sold)
Honda CD175 sloper

Offline Nurse Julie

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Re: Insurance Value
« Reply #9 on: June 14, 2022, 11:11:37 AM »
The question that has been asked over the past few years that makes me chuckle with bike insurance is 'will you carry a pillion passenger'. Firstly, I'm not asked if I carry any passengers in my car, secondly, unless stated otherwise, a motorbike has provision for a passenger and thirdly, having questioned insurance companies about this at renewal, it makes absolutely no difference to the premium if you answer yes, or no 🙄🙄🙄😂😂😂😂😂
Im a Nurse, trust me, this won't hurt.....much !!!

LINK TO MY CB400/4 ENGINE STRIP / ASSESSMENT AND REBUILD...NOW COMPLETE
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Online McCabe-Thiele (Ted)

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Re: Insurance Value
« Reply #10 on: June 14, 2022, 11:15:38 AM »
Interesting interview in the video clip.
Honda CB400 four super sport

 

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