Quote Originally Posted by supermancss
I've done a few more quotes, with TPFT at £800 total excess (compulsory+voluntary). £496 or ~£58p/m.

I've tried cancelling it before but was told that I needed to pay them about £300... The cost of the finance or somthing? I really don't know much about contract law. I expected to pay a small cancellation admin charge of upto £40-50 But I have read crap scam stories about KGM insurance since having problems.

Not happy with my insurer at all.
The cost of cancellation would have been on the contract you signed upto in the first place. If its on a finance package I can well believe the cost of getting out of it being equal to the balance of what is left to run. I would suggest you go back and read the small print on the original documents in case they are making an error.

Unfortunatley its one of those items you have to pay through the nose for until you have built up a history of no claims, when you have 40% or more no claims bonus and a few years on your license the cost is much more affordable. You are insuring risk and its the way of the world that you sit in a high risk category until you prove otherwise. Its how old geezers like I am pay relatively little for insurance - we had to get through the expensive part as well.

You won't save a great deal on TFT since the high risk is the third party liability aspect which with today's compensation culture and personal injury claims is what you are insuring against. The fact that your bike might be inexpensive to replace is a small cost compared to the 3rd party liability.

To be honest I don't think your quotes are too bad considering your age and inexperience - I have heard a lot worse. Good luck finding the best deal it really is worth shopping around - I still do every year.