Motorcycle Insurance - Beware of excess on the policy

Off-topic
1

Just spoke to MCE about insuring a motorcycle: Fully Comprehensive.

Value of the Motorcycle £800.

Value of the Excess on the Motorcycle, only obtained after pushing MCE for a breakdown:

£750

Total excess on 3 bikes, £3,750.00

So fully comprehensive cover gains you £50 should the vehicle that is written off be the one valued at £800.

The insurance cost (a multibike policy) over £500.

Just beware to check when they tell you that there is an excess on exactly what that excess is, because you could be paying for cover you simply don’t get.

2

My (compulsory) excess with MCE is £950, bike value is possibly around the £1800…likely to be less…

3

Jesus!!!

Mine is £100.

Sometimes is does pay to be the wrong side of 35

4

Yup on MCE I was told it was 800 for each of the two bikes on the policy. Luckily I took out the excess protection which should now hopefully mean I don’t have to pay anything… at least that’s what they said when I called them about my most recent off…

5

MCE quoted me the usual £950 excess when I called them up before buying the bike. That was with me as the owner.

Then, after buying the bike on finance, I realised that Black Horse would be the owner. Called MCE to purchase the insurance but said I would need to change some details. The guy asked me to hold the line please as he needed to recalculate. I thought he would probably increase my premium but then he suddenly comes back and says - we added excess cover meaning that your excess is now £0 and your premium is £4 less!

For a long time I couldn’t believe it was true but I guess the fact that the company now owns the bike changed something and it became cheaper meaning they could add the excess cover, which, as far as I understand, is a service anyone can pay for.

So after all that I am paying £4 less than initially quoted plus my excess is now nothing. I’m on TPFT, not fully comp but still.

6

As I said to MCE…this smells a lot like PPI.

Creating a situation where “insurance” is the only viable option.

7

Yeah it probably is… Would love to have the resources and the time to fight it but doubt I will get anywhere.

I got told that my excess was so high because of 4 'accidents, despite no claims and 3 speeding points… couldn’t argue really…

8

That is 100% PPI
That is a proper scam!! Insurance companies really make me angry how they think they have the right to charge what they want.

9

‘no claims protection’ - even more ppi - screwing more money out of you by selling you things that don’t amount to sh1t and aren’t worth the paper they are written on.

10

I have made a complaint to the Financial Ombudsman Service, on the basis that buying Fully Comprehensive Insurance with an excess of 95% of the bike, is not fully comprehensive insurance at all, and that people are being miss-sold a product.

11

I had an excess of £550 ( I had fully comp, NCB and Excess protection) The bike was worth 1200. I then added on the BMW ( multi bike) and when I had my crash my experience with MCE was incredibly negative

I have since then found out my NCB pretty much amounts to nothing as the premiums have gone up a fair bit :frowning:

12

Remember with nil excess policies the claim has to be over the excess in order for it to kick in.