Insurance Question

Post by **kevg** » Fri Apr 06, 2007 9:34 am

Aimed mainly at Allan and others that have heavily modded their bikes, how does it sit with insurance companies? how much do you tell them you have done? what do you tell them the value of the bike is?, do you disclose things you can't see like dyno jet kits...no way they would ever know if it was done without taking the carbs to pieces.

just wondering as i'm in the middle of doing some work to mine as said on other threads. mainly cosmetic like powder coating, but i'm changing the rear shock and fork internals. my bike is four years old and for me these things are almost standard maintenance, the likes of the owners manual tells you to change your brake lines after 4 years so putting braided hoses on complies with this, and your improving the performance hopefully. ie maybe making it safer.

i've told the insurance about my blu flame end cans because they are stamped with BS mark and i've had them on a few years now, although with the baffles out they are highly illegal i'd think and sound f*kin awsome ...

so what else do i tell them about and will it cost me more as they will see the mods as performance enhancing and making the bike more indevidual seems in thier eyes to make it more desireable rather than less desireable because everything is more destinctive and harder to punt on if stolen.

this is just something that came to mind, i've been mulling it over for a while and just thought i'd see what other peoples opinions and experiences are.

Kitch · Post by **Kitch** » Fri Apr 06, 2007 9:43 am

As a rule, I always tell them everything thats done to it.

It won't affect the policy too much.

Simple reason being to cover your ass. If you (god forbid) happen to end up in a big smash, the insurance company can check everything. (unlikely, but they might, especially if they're staring down the sharp end of a huge personal injury claim)

They can invalidate your policy on technicalities if you have lots of mods you've not mentioned - leaving you completely screwed and facing a no insurance prosecution on top of everything.

IMO, it's not worth it. Same as being "creative" with your past claims history etc.

Course, the other advantage is they should pay out for stuff like if your Blue Flames get squished.

Post by **sirch345** » Fri Apr 06, 2007 12:08 pm

Kev,
I'm like Kitch I prefer to tell the insurance company about mods rather than finding out (if the worst did happen) I'm not covered, or have a reduced cover

The only insurance company I've come across online ( http://www.ebikeinsurance.co.uk/ ) which have an excellent facility that allows you to list your modification's, which they do charge a little more for, but not a huge amount and can give you a quote online, UNLIKE most companies who cannot do that if you have anything but a non standard bike, you have to ring them

Even if you're not sure you want to go with Ebike you can still get a online quote free of charge. I don't know how good a company they are, but their online set-up is the best I've come across yet

Cheers,

Chris.

Post by **kevg** » Fri Apr 06, 2007 1:38 pm

Yeah, i'd have to agree with you both, i was just wondering if making major changes, like single sider swingarms etc would effect the insurance much. to have the bike MOT'd before starting this type of mod and then say its still MOT'd after something major like that, when it's essentially a completely different bike: i would have thought the insurance would have been all over it, wanting to know every detail.
and after crashing my car a couple of weeks ago i guess they are going to take the piss out of me anyway, lol.

alan · Post by **alan** » Fri Apr 06, 2007 4:41 pm

Hi Kev
i havn't told my insurer yet but how can they charge you more for fitting things like swingarms/forks these mods dont make the bike any faster, they might make me wanna ride faster with improved suspension etc.

I think you only really need to tell them if you have improved performance (bhp) engine mods

as for value i have spent 3200 on bike purchase then added my cans and rearsets cost just short of 1000 then my conversion has cost me nearly 2000,
oh engine rebuild by honda after cct went 500.

so 6700 later if i tell the insurer MY value, in the event of a spill/theft they aint no way there gonna give me anywhere near that.. so what do you do???????

Alan

Bondy · Post by **Bondy** » Fri Apr 06, 2007 5:03 pm

^^^^^^^^^^^^^^^^^^^^^^^
Alan i'd let your insurance know about EVERYTHING mate.

I but a set of M3 stlye mirrors on my first car and when i smashed it up they threatened not to pay out because of this.

They said that it was due to the fact that the car was more desirable to steal.

Given the cahance they will wombles u over.

alan · Post by **alan** » Fri Apr 06, 2007 5:48 pm

Yeah i totally agree with you as i have been fxxxxd over with insurance before (life insurance).

What i'm saying is how can they charge you more for adding non performance enhancing parts.

For all you who have told your insurers you've fitted cans how much did your policy change?

In my case will they require an engineers report? i have just put it through its mot with no worries from the tester.

Alan

Jason · Post by **Jason** » Fri Apr 06, 2007 6:05 pm

Alan I kinda agree, but I have been told the bike will be repaired to the condition I told the insurance it was in when I took the policy out, so if its insured as a standard VTR1000 and its damaged in anyway it will be repaired to to a standard VTR1000, or if it is a total loss you will only get the VTR1000 book price

.

Jason · Post by **Jason** » Sat Apr 07, 2007 3:47 pm

I am with ebike just done a reqoute and added these .

Murals/Special Paintwork Up to Â£500
Change of Forks
Exhaust - No performance increase
Change of Swingarm
Change of Screen
Change of Indicators

Added about Â£3 per month on my insurance so it is worth telling them just in case

There choice of mods is very good.