Strange insurance clause?

[Luke]

Dear all,

I'd value a bit of opinion on this:

Having searched around for a cheaper renewal, I eventually settled for a policy which was more competitive than my current provider. I have since found out that because I have stated that my bike is kept in a locked garage, my new policy will not pay out for theft if the bike is stolen from within a radius of 500 meters of my house, unless it was from the garage. Therefore, for example, if I return home and park the bike on my driveway outside the garage and it gets nicked... They won't pay out. The more I think about this, the more fed up I get.

so, if it's at my house, which it is a lot, it must be either in my garaged and locked, or further away than 500m or it's not theft insured. I can't imagine a car owner putting up with that.

Am I being naive here or is this common among bike policies?

Best wishes,

Luke

 

[RossHarper]

Same as my policy. By telling them its locked and garaged when at home address it has got you a cheaper quote, so if its nicked from driveway then you've not held up your end of the agreement. Think mine is only 250 meters though.

 

[Docta13]

To be honest I think I would rather that than a silly high excess, my mates just signed up for 600 compulsory 600 voluntary. 1200 quid before your claim even starts? No thanks!

 

[DangerousDave]

I work in insurance (don't hate me) and that is now a standard clause in almost all insurance policies. I remember that was starting to be introduced in the 90's.

 

[phil]

It is a standard clause and has been for years, dont worry about it unless you live on a main road and your bike is always on show.
I always push my bike into the garage and close the door when I get back from a ride, I thought everyone did this(?).

 

[Marcus81]

It's all good until you stop at a mates house on the way back from a ride and someone nicks it from theirs, 500 is half a km which is a big radius if you draw it out on a map! What if you have it on the drive to give it a wash, don't like the sound of that at all!

 

[alex]

It is a standard clause and has been for years, dont worry about it unless you live on a main road and your bike is always on show.
I always push my bike into the garage and close the door when I get back from a ride, I thought everyone did this(?).

I don't...I make the butler do it ha. If you have a garage then I'd be surprised if its outside except for washing!?

 

[Nick]

I renewed with BMW who have changed from Devitt to Eagle Ins......

They quoted £700, I asked for business insurance and they had an offer on - half price for new business customers....

Excess went up to £650 but got full BMW cover with business use for under £400 not bad with 2 years no claims and a superbike.........

 

[RickS1K]

Jeez Nick, that's bloody good, very jealous... guess I don't know your postcode/time with licence so can't really make a comparison to me...

For the OP, I have the same clause in my MCE policy, whcih I knew about when I took it out....just didn't notice the £1400 XS until recently...ffs...

 

[RossHarper]

Mines ?165 but I'm only 3rd Party Fire and Theft with 5 years NCB. I think it was ?500 excess with ?500 Voluntary excess, but got Legal over, European travel, Ride other bikes.

 

[garythegrass]

Hi here one people need to know stated on me insurance docs put a oxford heavy bike chain through wheels to surcure to ground anchor.... As security devise...on policy.... The guy told me hav't to carry a round and surcure bike with it all time when out......it weighs a ton.....so got it remove of policy.... So all ways ask question.... If it be stolen with out it no pay out.....ride safe every one.....

 

[jimglasgow]

Jeez Nick, that's bloody good, very jealous... guess I don't know your postcode/time with licence so can't really make a comparison to me...

For the OP, I have the same clause in my MCE policy, whcih I knew about when I took it out....just didn't notice the £1400 XS until recently...ffs...

MCE have a policy that cost around ?60 and wipes out the high excess...i got stung this year because of this cost to replace this bike, well thats what they told me.

 

[bananaman]

I had a call from mce 2day saying that if I paid another 60squid it would save my excess which is about 2g(on my zzr) That's 25% again on top of my premium so I declined. She couldn't understand that I wouldn't lose my excess if it was non fault accident. If we paid for all the ifs, buts, maybes and oh fks then we wouldn't/couldn't afford to ride.

 

[fatbob]

I have a ?2500 excess on my KTM
I also pay ?40 a year to insure that excess , which makes my policy cheaper.
In other words I dont have any excess
The same broker who set up the insurance insured the excess