So far I’ve managed to accrue 7 months no claims bonus on my 125
I’m planning on keeping it to potter about on and make short trips with until at least December when it will become a full year NCB.
In the meantime … I’m going to insure my big bike third party only … kept in the garage at work … then come December … cancel the policy … get however many 12’ths refunded for the number of unused months on the policy … then take out a fresh policy with NCB.
I assume I’m not doing anything wrong/dodgy/fraudulent … and this is probably the best/cheapest way in the long run to go about things?
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Secondly …
Our lass has now done her CBT … and rather than getting her own 125 … we’re going to insure her as a named rider on my policy … (considering I’m going to be keeping it till December anyhow to get the no claims bonus) … it seems to make sense.
What I want to understand before going through with it though … is … what are the implications/repercussions to me/my NCB should she have an accident? Do we count as two separate individuals - so if she hits someone - it wont have a knock on to me … or is it a case of … policy in my name = my problem?
I’ve been told previously that you can’t have two separate insurance policies on one vehicle at the same time - i.e. - so that come December I’ll have 1 year no claims - come next July she’ll have 1 year no claims … anyone any ideas?
Obviously her wellbeing is more important to me than the bike being wrote off/losing a few months NCB … but I want to understand what I’m letting myself in for/if it will have a knock on for my premiums for the next 20 years
I hope this isn’t too rambling and someone can follow/post some useful advice
it really is not insuring a vechile and then after a few months claiming money back when you cance, you wont get as near as what you think, they dont divide it by 12 and give you wot you dont use.
as for 7 mths ncb, no such thing. only per yr after the yr etc.
if i was you i would use the 125 till the yr is up then use the 1 yr ncb for wotever bike you decide.
lol … I knew I didn’t actually have 7 months NCB … I was just making the point … that I’m more than half way towards my first year … which I suspect will have a big knock on to the price of my policy … at 22 years old … having held licence for 4 months … bike kept on the street … blah blah blah … which is why I plan to keep the 125 until at least December … so I’ll actually have the 1 year NCB.I have my big bike … it’s sat in the garage at work waiting to get out on the road … I’ve just not had the gonads to climb aboard and take it for a spin … I was using the excuse of “I’ll get on it once SJ has done her CBT and starts using the 125 - then I’ll have no choice” … well … now I have no choice … so have to figure out what the best way to go about it all is :)Insofar as cancelling an insurance policy/refund … how much out of pocket would you end up? Lets say it costs £900 for an annual policy … but after 4 months you sell the bike … how much would you be refunded?
Insofar as cancelling an insurance policy/refund … how much out of pocket would you end up? Lets say it costs £900 for an annual policy … but after 4 months you sell the bike … how much would you be refunded?
Probably a couple of hundred applying insurance company rules that they make up as they go along to screw customers twice over.
Jetstream You sure you can’t have two individual insurances on the same bike?
I’ve had two people separately insured on the same car before now. True it was a bit*h to set up but, after I’d convinced both companies it wasn’t a scam, worked well for all parties.
Have a look at eBike insurance. They do a pay as you go policy, it’s a bit more expensive than an annual policy but it can save money if you are not sure you’ll be keeping a bike for long.
Might be worth swapping the larger bike to the existing policy and renewing it in December to get the benefit of the NCB and getting an eBike policy for the 125 for a few months.
… I was using the excuse of “I’ll get on it once SJ has done her CBT and starts using the 125 - then I’ll have no choice” … well … now I have no choice … so have to figure out what the best way to go about it all is :)Insofar as cancelling an insurance policy/refund … how much out of pocket would you end up? Lets say it costs £900 for an annual policy … but after 4 months you sell the bike … how much would you be refunded?