Insurance - buying a beat up bike as a classic just to get isnurance?

worded

The lass is 28 and im 31.
Both full licences.
I get cheap insurance on my current bike - a transalp for 700 euros.
She gets cheap classic insurance - 400 euros, her bike is over 15 years old (value 2.5K)

She wants to get a newer non classic and I have been advised to put her new her bike in my name and have her as a named driver. That way the insurance will be really really low. (i.e. it will cost me 100 euros approx)

Alt her insurance on newish bike will be 2K + even though she has 3 years NCB.

But: We would like to sell the classic and put it towards the new bike.

So - what if I went to a breakers yard and bought a complete falling appart banger thats 15 years + and insured it? Then sell the classic and use the funds to go towards the newish one.

Anything wrong with that?

colm_c

worded wrote:

Alt her insurance on newish bike will be 2K + even though she has 3 years NCB.

I've no idea about named drivers and all that malarkey but over 2k for her seems very high.

I'm on a newish bike (2005) with 2 years NCB, a full licence and I'm 26 , my insurance was less than 900 fully comp.

I'd ring around CN, AON and Quinn for a better quote.

worded

Its really odd all right. I will phone around.

At the mo they can only quote on swap over amount til renewal wich is 600 euros for 4 months insurance! The new bike is worth 6K. Based on that the guess 2K + for the year. Bullsh1t.

They suggested the workaround of named and keeping the classic - but it seems a tad contrived.

Del2005

Are they telling you to buy the new bike in your name and add it to your current insurance as a 2nd bike, then get a classic junker and insure it in you SO's name and have her as a named driver on your policy?
Seems to make no sense, why are you keeping a classic insured? If it's to keep her NCB, it's a waste of money. NCBs stay for 2 years after being canceled. Just insure the 2nd bike on your policy, check how much extra this will be, and next year buy the classic to insure to keep her NCB active.

As the others said, see what price the other 2 will charge.

tk123

I'm guessing she's with CN if she has classic insurance - they seem to be cheaper for some bikers and not for others. I have 5 years ncb and they were quoting me over €900 on my last bike - a marauder 250. I'm 29 and my insurance its about €700 fully comp on a shadow 600 with quinn.

worded

Del2005 wrote:

Are they telling you to buy the new bike in your name and add it to your current insurance as a 2nd bike,

Yes - as other wise pay 2k+ (we are both insured with the ins co in question for the last 3 years)

Del2005 wrote:

then get a classic junker and insure it in you SO's name and have her as a named driver on your policy?

No we have a classic in her name valued at 2.5 K insured with them.

Getting the junker was my idea (for her NCB)
Im thinking that if we got a junker and sold the present classic - we would free up the funds to go towards a newer one

Del2005 wrote:

Seems to make no sense, why are you keeping a classic insured? If it's to keep her NCB, it's a waste of money. NCBs stay for 2 years after being canceled. Just insure the 2nd bike on your policy, check how much extra this will be, and next year buy the classic to insure to keep her NCB active.

As the others said, see what price the other 2 will charge.

Ok so getting a junker next year will be the thing to do.

So understanding this ...... in order to be a named driver - she needs no insurance at all?
The advantage of a Junker is that in the event of a crash - its her insurance that gets hit - no mine. (thats what the ins co said)

Although I remember when I was a kid crashing the old mans car as a named driver! His ins got the hit.

Its such bullsh1t all this. Like youd sware we were both 17.
Full liceneces over 2 years and NCBs ...... and both over 25.
I thought I was over all this rubbish

> I will phone around.

worded

Yes we are with the Nash.

Aon are very difficult to get through to if I remember correctly.
If anyone has phone numbers please post them for the alt insurance cos.

murphaph

worded wrote:

The lass is 28 and im 31.
Both full licences.
I get cheap insurance on my current bike - a transalp for 700 euros.
She gets cheap classic insurance - 400 euros, her bike is over 15 years old (value 2.5K)

She wants to get a newer non classic and I have been advised to put her new her bike in my name and have her as a named driver. That way the insurance will be really really low. (i.e. it will cost me 100 euros approx)

Alt her insurance on newish bike will be 2K + even though she has 3 years NCB.

But: We would like to sell the classic and put it towards the new bike.

So - what if I went to a breakers yard and bought a complete falling appart banger thats 15 years + and insured it? Then sell the classic and use the funds to go towards the newish one.

Anything wrong with that?

It is doable but I don't understand why you would want to keep an insurance policy active on a bike she doesn't use apart from these reasons:

1)keeping NCB alive.
2)riding other bikes

If it's for the second reason then it's not a bad idea. I have a classic policy too (but i'm happy with old jalopies as my primary means of tranpsortation!) and riding other bikes is a great benefit of such polices that don't always come with modern bike policies and she certainly wouldn't have that benefit as a named driver only.

Of course-the exclusion is that bikes owned by partners are excluded as they are with similar car policies.

murphaph

worded wrote:

So understanding this ...... in order to be a named driver - she needs no insurance at all?

Correct.

worded wrote:

The advantage of a Junker is that in the event of a crash - its her insurance that gets hit - no mine. (thats what the ins co said)

Bullsh!t alert. The claim will be made against your policy if she crashes the new bike. You will face increased premium payments and a loss of YOUR NCB.

worded wrote:

Although I remember when I was a kid crashing the old mans car as a named driver! His ins got the hit.

As above-you remembered correctly. The insurance official (if they said that and you didn't pick them up wrong) was wrong.

Edit: Have you looked at some of the 15 year old mint examples available in Britain on eBay or even in a shop in north wales? You'd be hard pushed to tell some of them were anywhere near as old as they are.

Del2005

worded wrote:

Ok so getting a junker next year will be the thing to do.

So understanding this ...... in order to be a named driver - she needs no insurance at all?

Yes, thats how all the 17 year olds drive "Mammies" car

The advantage of a Junker is that in the event of a crash - its her insurance that gets hit - no mine. (thats what the ins co said)

Although I remember when I was a kid crashing the old mans car as a named driver! His ins got the hit.

.

Insurance company are lying. Your insurance will get hit and if she has a policy she'll get hit also. Not too sure how she would be affected if she claimed as a named driver on your policy when she went to use her 2 years NCB again. But she'd definately loose it if she has a policy active.

galwaytt

they can't penalise two policies for one claim - hers would remain intact, yours would suffer.

NCB is attached to the policy - not the policyholder. This is fact, from CN. It's also how my wife lost here NCB after 16+ yrs of biking.........

As an example, if the opposite were true - as you seem to think - you could use your NCB on a number of different policies, separately. And I'm sure we all know already that that isn't so.............DAMHIK..........

Del2005

Yeah, I worded that badly. What I ment was that you'd loose you NCB, but when she went to renew her policy she'll have to say that she had a claim. It won't affect her NCB, but may affect her quote. Happened to me when I crashed my mothers car years ago. She lost he no claims but I had to say I'd had a claim also.

Keith186

I don't see the point in getting a classic bike if you ain't actually going to drive it. It's not really a good idea to get another bike on your policy and have her as a named driver if she's the primary driver. I work in insurance and I think there's a clamp down coming in on this, there is in UK anyway on cars.

AON's number is 7037400, ask for bikecare scheme. Quinn will give a half decent price but they are c*nts for playing claims and that's why they can keep it cheap, I wouldn't be arsed with them especially at your age.

There's another crowd doing insurance now for bikes but I had problems getting a quote with them as it was just new. The insurance company is Europa General based in Galway & Belfast though only the Belfast company quotes. they have a scheme for bikes via a broker in Belfast (might be called Alexander's Ins) but I can't remember name.

As far as I remember if you go via Aon you might have to get a driving certificate from an independent m/bike driving instructor/trainer.

Probably best off going down this route as you will have the cert for life and it will always be cheaper with most insurance companies. It involves paying someone about €100 to tell you that you can drive but it will save money in the long run.

I'm only 25 and I have a 1.4 Seat Ibiza and a Honda CB1 400cc insured fully comp for €1k albeit it with 55% discount where I work even with a theft claim and windscreen claim oh, and a provisional licence and pen points!!

You are getting ripped off my friend

XJR

Keith186 wrote:

AON's number is 7037400, ask for bikecare scheme

Aon do a three or four bike policy, I don't know how much it is for the extra bikes but it might be an option.