Insurance on a new GSX-R 600 K7

Bought one, declared the value, got insured. No whahala.

Many inscos will replace a brand new written-off vehilce with similar
within the first (I think) three months of the policy starting. After
that, depreciation kicks in, big time.

 

£5K buys a lot of fast old stuff - and I mean old being 20 years+ Nice
Ducati 900ss, Laverda Jota, Guzzi LM etc

They're very cheap to insure.

You may still need a garage though.

 

Normally I just call Kiran a **** but on things like this I'd trust
his judgement above anyone else's. He has certain 'interests' in
insurance claims.

 

I bought my ZX10R new and declared the value as list, not what I paid
for it.

I suspect you don't have 30 years of experience on a bike or 15 years
worth of clean licence and 6 years ncb do you? It makes a big
difference.

 

We don't live in London and we have secure storage for our bikes.

 

I bought a new sportsbike a few years ago, valued at £17.5k, & put it
on a multi-bike policy with one other bike - £420. Nice postcodes, lots
of NCB, garages & being over 35 are wonderful things.

OK being over 35 isn't necessarily a wonderful thing, but for this
purpose, it rocks.


--
Krusty
www.MuddyStuff.co.uk
Off-Road Classifieds

'02 MV Senna '03 Tiger 955i '96 Tiger '79 Fantic Hiro 250

 

OK, fair enough.

 

will not insure "you".

I ensured a ~9K brand new bike in London, parked on a driveway, for
around 600 quid fully comp.

 

Kiran doesn't do anything like work in the vehicle insurance field,
mind.

 

Probably means Enfield or whatever suburb you lived in was OK. PS Your
not 24 are you?

 

eric the brave <""simonb_at_zapik_dot_co_dot_uk\"@foo.com (eric the

thank you, Mr.Murray.

(Enfield isn't a suburb, by the way, and at the time I was living in
Ponder's End)

 

Yeah, but I don't see how you can complain when the total premium is
still only £120.

 

Christofire says...

It's double that.

 

Really? ****

 

I suspect he knows plenty of escape clauses for any insurance company.
It's really down to whether or not said insurance company feels like
being a **** isn't it?

 

I don't think inscos need to "feel like" being cunts.

 

That bad eh!

Come over to Southern Ireland and pay treble or quad the price, my XV750 was
£94 FC in Uk (50 year old) and they want ?700 here inc 15 years NCD and with
the Advance Motorcyclist course, Bo****ks and Fe**

Mick,


Laid up XV750, TZR125 (full power wow) and KR1s. (tears)



Collective,

I wonder if anyone could give me some advice on the following.

I'm attempting to get a quote on a brand spanking new GSX-R 600 K7.
Being 24, living in London, with no garage (Thankfully there's a
"driveway" of sorts, I've installed a ground anchor), it's proving
difficult.

After a lot of effort, I've managed to get a TPFT quote of only £1350
(or around £2500ish for fully comp). I did this by under-declaring the
value of the bike, at only £5000 (Full value is £6750). If I declare
the value as being over £5000, almost all the insurance companies
refuse to provide a quote, or quote insane numbers.

I'm fairly happy to roll with £5000 as the value, if the only
consequence is that I can't claim more than that figure. However some
people have pointed out that the insurer may void the policy on the
condition I misled them over the value.

So, does anyone know for sure what the situation is? Is it safe to do
this? I'm going to call them up tomorrow and ask, but thought I'd ask
here too. Also, any other advice/comments on insurance welcome.

Thanks in advance!

 

Really, how do you know?

 

Absolutely. Let's face it - you might fool the computer into giving you a
quote. But come accident/crash etc, even a stupid loss adjuster will realise
that a brand new k7 GSXR600 wasn;t worth £5k when new. And as soon as they
start realising that you were economical with the truth when placing the
policy, they're not exactly going to rush to pay a claim.

 

Maybe, but you don't have a London postcode, and a BMW GS is not the same
theft risk as a GSXR600.