question about insurance

I have insurance until Aug. 2009 and it is valid on any bikes (with the permission of the owner). My motorbike was stolen and I am going to buy another one soon. So, do I need to insure the new bike now or should I wait and renew my current insurance once August?

Thanks
Eman

It would be a very unusual policy which allowed you do that…

Does it actually say “may also drive motorcycles not owned by the policyholder and not hired” or something similar. I would imagine that unless you have traders insurance you’ll at the very least have to inform your insurance company about a change of bike. Also if they pay out as a total loss that tends to cause that policy to cease and you’ll have to get a new one

if he buys the bike it will need insuring, my policy allows me to ride other peoples bikes as long as they are not hired…and not mine…however if I own it I have to declare it on my policy…I would think this is the same for all private policies…

I think that if you are making a claim on that policy you need to contact your insurers and see whether the policy is still current even for bikes you don’t own. I believe that once a claim is made some insurers put the policy on hold as paying out
deems the end of that policy.

Unless, of course, anyone knows any different?

can u not just swap it over call ya company and change it for the new bike they did it for me on the gamma from my old bike.

Would that be the Suzuki policy through Express Insurance ?

This is such a complex area that talking to your current insurer is the only sensible thing to do.

Want an example? I had to return all my insurance docs. When my bike was stolen. Six months later, having taken out completely new insurance with a new company on a replacement bike, my original insurers offered me a renewal quotation on my original policy.

I never got to the understanding of that.

I checked I am insured to ride any other bikes that are already insured by someone else. If I buy a new bike I am not insured to ride it with my current insurance. It is true, in order to claim my stolen bike I had to send all the original certificates, but then I changed job so my insurance company asked for more money because higher risk of my new job (strange because I had no bike, it was already stolen). Anyway I had to pay it (£116) otherwise they would not process my claim. After I paid it, I received a check for my bike and a new certificate insurance valid from the day I paid the £116 until August 2009 (it is when my previous insurance it is supposed to end)

thanks for your answers
Eman

You always need your own insurance for a bike you own. If you own 2 bikes (etc) you’ll need 2 policies (etc) as you can’t use one policy on one bike to ride another you own…as you can’t give yourself permission to ride the other bike (sounds stupid but that’s what they have told us in work).

Most bike insurances will allow you to ride other bikes with the owner’s permission, but make sure this is extended from just emergency needs as most car policies have this in their 3rd party clauses.

Eman, I’m surprised your current insurance is still valid as some companies will honour the policy when a bike/car is stolen but they technically cancel the policy. Either way, they can upgrade your insurance policy from one bike to another and chances are you’ll have most of the same ‘rights’.