INSURANCE ALERT!!!!!

[Squashed_Fly]

Did anybody see the article in MCN or Bike magazine about the insurance companies not paying out due to undeclared modifications.

Fair enough you might think, except in one case, it was the addition of a top box, another case it was the addition of heated grips and in the worst one, someone had put 1 sticker of their football club on the fairing and the insurance company refused to pay out!!!!! None of these are modifications that changed the performance of the bikes in question.

In most cases, after a long ordeal with the insurance ombudsman, they did eventually relent and pay out on the claims, but not all cases.

If you do make ANY changes at all to your bike, or if you're not sure if something on it is exactly how it left the factory, then the advice is to declare it anyway. Unless it's a performance increasing mod, then it shouldn't change your premium.

Juts thought I'd share it here in case anyone hadn't read the article as I'm sure most of us wouldn't think to call the insurance people if we'd added a sticker, or heated grips....

[Nelly]

Oh no! I added some flies to the front of mine this year! [smiley=cry.gif]

[Ducatista]

Good advice, but also some blatantly bad behaviour from insurance companies.
Were they named and shamed?
Of course sometimes there is more to these stories than is reported.

[BB]

Yes, Ghost was reading bits out to me. To have a claim disputed for a sticker! :o

BB

[wiltshire builders]

If you do make ANY changes at all to your bike, or if you're not sure if something on it is exactly how it left the factory, then the advice is to declare it anyway. Unless it's a performance increasing mod, then it shouldn't change your premium.



The reason they don't want to pay out, especially for a theft, is because they believe any modification makes the bike more desirable to thieves.
Think R&G crash bungs would lower your premium? Not in the insurance underwriter's eyes. To them it means you're more likely to crash, that's why you've got them so your premium goes up.

A mate of mine saw smoke coming from his van, stoped and found the electrics smoldering and alot of damage. He was TPFT and they wouldn't pay out because it didn't actually burst into flames. They even admitted that if he'd carried on driving 'til it did they'd have payed out.

[Ducatista]

Think R&G crash bungs would lower your premium?

Ebike insurance gave me a discount for R&G crash bungs.

[Moo]

Ok I admit its not quite in line with the rest of the thread but there are similarities:

I received a text today from my (car) insurance company telling me to only drive if essential, take a shovel etc etc. This is obviously a bulk text but my question is this:

If taken to extremes, could they consider that in their opinion that:
a) I had ignored their advice (or instruction) not to drive.
b) They considered the journey to be of a non essential nature

hence invalidating my insurance? :-?

[benobiker]

oh no! I have put some petrol in mine! :o :o

[Jon_W]

I've changed the tyres on mine.... must be a modification....

[Ducatista]

I had ignored their advice (or instruction) not to drive

I think they are merely offering advice and could not invalidate your insurance.

The good news is that there is an independent ombudsman for insurance that is both independent and free (although not quick).
I've won a few cases with different ombudsmen (pension/endowment mis-selling) so I know they work (but not quickly).
So, there is protection if you have a geunine problem.

I am afraid though that smouldering electrical problems have never come under the definition of fire, so you still have to fall within the defiitions of the policy and it's cover.

I am not aware of any policy definitions about poor weather.

[wiltshire builders]

Think R&G crash bungs would lower your premium?

Ebike insurance gave me a discount for R&G crash bungs.


Might have to go back to ebike then. My current provider wanted £120.

[virginie_morisot]

some interesting information to bear in mind here.. sounds a bit crazy inthe case of the stickers etc...

[Snowy]

I sent a list of mods and accessories I had fitted to my beemer to my insurance company because I wanted them logged on the insurance. Several reasons, one being I wanted to make sure I would get the added value on any claim I may make plus I didn't want to actually invalidate the insurance due to some of the mods that I had done. As some of you know ( ;D) I have HiD conversions on the lights and there are some issues with legaility with these on bikes. The current law does not deal with bikes with HiDs in any meaningful way so another reason was to ensure the insurance company were aware of these being fitted.

The insurance company got in touch and asked if I had all the receipts for the accessories and if I had them dealer fitted. The answer to this is yes, and no. So, they said I had to take the bike to an independant garage and get a report confirming all the mods/accessories were not only done but also fitted correctly and safely. The latter instruction was there due to the additional wiring and power modifications to make sure all the electrical stuff was up to standard i.e wire guage, connectors, fuses etc.

This I was happy to do, at the end of the day it was me that wanted them insured and I was confident on my work. The garage report was fine, I sent it to the insurers and they accepted it all. Result. They did load my insurance by 10% which for me was an added £18 per year for the two bikes on the policy.
Given the higher value of the total insured for loss I was happy with this.

The point is that insurance is all about risk and expected loss in the event of a claim. I know we all want cheaper insurance and every year most of us try and get it for less but its a false economy not to tell your insurers of anything that affects the risk you want them to insure you for and the cost of replacing the bike if its stolen, burnt to the ground or written off in an accident. If you don't tell them about the GPS thats fitted, the Akra can, the Power Commander or the Sargent seats you can't expect them to cough up if you make a claim. Deeper trouble may come your way if you have not told them about any of these things and you have an accident involving a third party - you may suddenly find your insurers absolving themselves from any responsibility.

Personally I prefer to know I'm insured rather than start worrying about it either after an accident or my pride'n joy has been nicked.

[hotdog]

More Crap than News claims another victim :)

[hotdog]

A mate of mine saw smoke coming from his van, stoped and found the electrics smoldering and alot of damage. He was TPFT and they wouldn't pay out because it didn't actually burst into flames. They even admitted that if he'd carried on driving 'til it did they'd have payed out.


Because TPF&T has always meant and still does if the whole vehicle is destroyed (written off) because of a fire, not just a part of it.

Hm, I need new brake pads... where'd I put those matches :)

Regards,

[Davey]

I've changed the tyres on mine.... must be a modification....

If you put the wrong tyres on it can invalidate it!!

I have just started working in the insurance field and its a bloody mine field!! I don't work on the bike side so currently haven't looked into a WB discount (plus want to get my feet firmly under my desk) One of the main reasons it looks like they have had to clamp down is due to the costs incurred by the no win no fee claims going through (I've seen the bills they've been charged and some are over 10 x the amount the injured party was awarded!!) Which has also increased policies across the board by upto 40% in the last 12 months >:(

[Ducatista]

Several reasons, one being I wanted to make sure I would get the added value on any claim I may make

My personal experience (of adding mods on to a policy and getting quotes with mods on) is that they have accepted them and recorded them (so that the insurance is not invalidated by them) but they also pointed out to me that the accessories/modifications themselves will not be insured.

So be aware that insurers work in different ways.
If you have a BMW with all mods cons including kitchen sink, deer stalker and PTO then you might want to consult Beemerman about where he gets his insurance ;)

[Snowy]

Several reasons, one being I wanted to make sure I would get the added value on any claim I may make

My personal experience (of adding mods on to a policy and getting quotes with mods on) is that they have accepted them and recorded them (so that the insurance is not invalidated by them) but they also pointed out to me that the accessories/modifications themselves will not be insured.

So be aware that insurers work in different ways.
If you have a BMW with all mods cons including kitchen sink, deer stalker and PTO then you might want to consult Beemerman about where he gets his insurance ;)

I have it with BMW and it's one they put together with Devits. The accessories are insured because they are not easily removable, the only one which is a bit "iffy" is the GPS. Initially they wouldn't cover that until told its fitted into a locking cradle which needs a key.

This is all theoretical until a claim is made but I'm hoping the fact they are logged and I pay a premium for that would make any claim that much easier, plus as Ducatista say's they don't invalidate the insurance.