2 Insurance policies - 1 bike

Hey Folks,

I'm coming back to my bike after crashing, and later breaking my back
skiing! I gave my CBR600 to my mate to ride while I took a break, and
he naturally switched the ownership to himself to make sure all the
paperwork was ok. So now, I plan to insure the bike, but I'm told that
there can only be one policy covering the bike. Can anyone confirm if
that's 'the law', or just the insurers I was dealing with?

In effect, I've been told that I need to be the registered keeper, and
that It's only me (as the new keeper) who can have a policy on the
bike?! I was wanting me and my mate to be insured, but on separate
policies. Is that possible?

Thanks for any help.

ps any recommendations for insurers who give introductory discounts?
I've not been insured since may 2003, so I'm thinking that any no
claims I had will have 'expired' by now?

FrankyG

 

Your insurance will pay out "in the absence of other cover." The
other insurance will also pay out "in the absence of other cover."
Both insurances are likely to bit of a claim nightmare with both
insurances cancelling the other out. This means that no one will wish
to pay out in the event of a claim so just stick to the one insurance
for simplicity.

You and your husband could probably get a joint policy should you wish
to, or he could ride it Third Party Only with "Can I Have A Go Mate"
cover. This means that as long as you're insured in some way on YOUR
bike HIS insurance may well let HIM use it Third Party Only if he's
got some kind of insurance on another vehicle that HE owns that
materially exists.

If he crashes and kills your bike, tuff. If he crashes it into a line
of small children queuing up for a bus then his insurance will pay out
for the damage to the third party only.

If the bike gets nicked then your insurance should cover the theft if
you're TPF&T or Fully Comp.

CIHAGM cover will only work if someone else owns the vehicle in
question and has an insurance on it. (Otherwise everyone would have
five vehicles and only insure one)

They normally only last a couple of years. Some insurers may give a
"safe driver discount" but I'd suggest shopping around online and
offline to see what the best you can get is.

 

emerged from their own little world to say

AFAIK it is not a legal thing just a condition of the insurance contract
that a) the policyholder is the registered keeper and b) only one insurance
contract exists on a vehicle. There is the potential for some very messy
legal issues otherwise e.g. unless there is evidence to the contrary, the
registered keeper of a vehicle is deemed to be responsible for any
indiscretion. Now, if you caused an accident but absconded from the scene,
your mate as registered keeper, and his insurance company, would not be too
happy when the police knocked on his door and accused him of dangerous
driving.

You've gone over the 2 year grace period so you will have to haggle.

 

Sheeeeeeeeeeeeeeeeeesh!
You can't insure something that you don't own.

 

ICBW, but I think you need to have an "insurable interest" in the vehicle to
enable you to take out a policy on it.

As you don't own the vehicle, and it is not registered in your name, you
would not appear to have any "insurable interest".

As I said, ICBW.

--
Dan L (Oldbloke)

My bike 1996 Kawasaki ZR1100 Zephyr
Space in shed where NSR125 used to be
Spare Bike 1990 Suzuki TS50X (Patio Ornament)
BOTAFOT #140 (KotL 2005), X-FOT#000, DIAABTCOD #26, BOMB#18 (slow), OMF#11