Insuring a used bike for theft

Help & Advice
#1

So, I’ve been looking around for an insurance for the bike I bought and then found this on the ebike website:

"
What is the New Motorcycle Replacement?

We will replace Your Motorcycle with a new Motorcycle of the same make and specification (subject to availability) if, within 6 months of purchase new by you:

-Any repair cost or damage covered by the policy exceeds 70% of the list price (including VAT) at the time of purchase.

-Your Motorcycle is stolen and not recovered.

Replacement is subject to:

-Your Motorcycle being owned by you or having been purchased under a hire purchase agreement (any Motorcycle the subject of any type of leasing or contract hire agreement is not eligible for replacement).

-The agreement of any interested hire purchase company.

-You being the first registered owner of Your Motorcycle."

Does that mean that used bikes are not covered at all from theft when you buy a “Third Party, Fire & Theft” insurance policy? Or am I missing something here? The bike had 2 previous owners and has a 08 plate.

#2

No what this is saying is that they will pay the cost of a brand spanking new bike if you are the first owner… if you are second owner you will get considerably less because you will have bought a used bike and they work out depreciation and a whole range of other factors to try and shaft you!

#3

Yes, that sounds much better :smiley:

Just thought it weird they don’t mention used bikes at all in their FAQ or at the summary page before buying the policy (second time same bullshit about a new bike though).