Luke Dunstan Posted May 28, 2013 Report Share Posted May 28, 2013 Was happily insured on my 600 Fazer paying £32 per month. Sold that and then phoned the insurance company to change my policy to cover the new bike which is a 1000 Fazer. They are shafting me at £166 per month! I spoke to a supervisor to make sure they hadn't had a computer error! My policy runs until January so I would imagine cancelling the policy would be very expensive?? I've got a bad credit rating as it is, but I'm happy to take a hit for this. If I were to stop the payments being made to the insurer what would happen (I'd obviously get insurance from elsewhere), but what powers have the insurance company got? If I don't pay, then I'm not covered and so I wouldn't be using their services? Anyone shed some light on this? It's driving me scatty. Thanks TF. Quote Link to comment Share on other sites More sharing options...
greg1040 Posted May 28, 2013 Report Share Posted May 28, 2013 I don't know weather u will just become unsured or weather u are liable to be in a 12 month agreement unless paying cancelation fees ect. If your credit rating is bad as it is wouldn't advise to make things worse. Did you check insurance before purchasing your bike or did u just buy it expecting it to be cheap? Quote Link to comment Share on other sites More sharing options...
Muel Posted May 28, 2013 Report Share Posted May 28, 2013 Errm, tried phoning them up and asking them? How can we say whether they'll have cancellation fees or if it's worth doing? Silly. Quote Link to comment Share on other sites More sharing options...
Luke Dunstan Posted May 28, 2013 Author Report Share Posted May 28, 2013 Because they are an Insurance Brokers, so they have to wait to be able to get through to the insurance company that are covering me. I turned to TF for advice while I waited, if that's silly then I guess I'm just one silly billy. Quote Link to comment Share on other sites More sharing options...
Muel Posted May 28, 2013 Report Share Posted May 28, 2013 Ooooh OK. Yeh, you're still silly though, as I don't like Fazers, so you're very silly for buying one. Quote Link to comment Share on other sites More sharing options...
Luke Dunstan Posted May 28, 2013 Author Report Share Posted May 28, 2013 Have you ridden one? The 600 was okay to ride but the 1000 is just a different beast, so nice to ride. Pretty bloody quick. It's mental to think my CG125 struggled to hit 60mph, and the FZS1000 does it in 1st gear. Quote Link to comment Share on other sites More sharing options...
Muel Posted May 28, 2013 Report Share Posted May 28, 2013 Nah but I know someone who had one. From what I've heard they're very smooth and refined and well behaved, I prefer bikes that are a bit more rough and ready and aggressive. Quote Link to comment Share on other sites More sharing options...
Luke Dunstan Posted May 28, 2013 Author Report Share Posted May 28, 2013 On the phone to them now, £50 plus 75% of the premium. I really should know what a premium is. 1 Quote Link to comment Share on other sites More sharing options...
monkeyseemonkeydo Posted May 28, 2013 Report Share Posted May 28, 2013 I prefer bikes that are a bit more rough and ready and aggressive. What are you riding at the mo again? On the phone to them now, £50 plus 75% of the premium. I really should know what a premium is. The premium is the cost of insurance for the insured period i.e. £1992 going by your £166 per month... ouch. I've never bought a car or bike without checking the insurance costs first. Silly billy. Quote Link to comment Share on other sites More sharing options...
Muel Posted May 28, 2013 Report Share Posted May 28, 2013 What are you riding at the mo again? Nothing at the moment, for I am a very poor man with nowhere to keep a bike. As soon as I've sorted a job (nearly done) and a house/flat with a garage (about a year away) then I'll be filling it with bikes. Not that any of that changes what kind of bikes I prefer... Quote Link to comment Share on other sites More sharing options...
Luke Dunstan Posted May 29, 2013 Author Report Share Posted May 29, 2013 I have to pay about £420 to get out of the contract. Got a quote last night, 3rd party F+T plus RAC cover for £21 per month. Quote Link to comment Share on other sites More sharing options...
Danny Posted May 29, 2013 Report Share Posted May 29, 2013 £420 + (12 x £21) = £672 £166 x 12 = £1992 Still worth it if you have the cash. Quote Link to comment Share on other sites More sharing options...
Luke Dunstan Posted May 29, 2013 Author Report Share Posted May 29, 2013 £420 + (12 x £21) = £672 £166 x 12 = £1992 Still worth it if you have the cash. Cheers Danny, They have allowed me to cut the cost into 2 months. The £420 was an estimate and has turned out to be £486.39. Still worth it. It's my own fault for not looking into the costs of a bigger bike before selling the one I had. Live and learn. Quote Link to comment Share on other sites More sharing options...
Luke Rainbird Posted May 29, 2013 Report Share Posted May 29, 2013 Yeah, pretty smooth move that you won't be repeating any time soon! Have you had a chat with them since you've got hold of this £21pm quote to see if they can come some way towards matching it at all? I know they previously said they could only offer silly money, but if they know there's competition they might buck their ideas up a tad. Working around the £738 figure from your buyout/reduced premium, if they can quote you under £61pm you'd be better off overall and wouldn't have the grief of paying in one/two chunk/s either Quote Link to comment Share on other sites More sharing options...
Luke Dunstan Posted May 29, 2013 Author Report Share Posted May 29, 2013 Yeah, pretty smooth move that you won't be repeating any time soon! Have you had a chat with them since you've got hold of this £21pm quote to see if they can come some way towards matching it at all? I know they previously said they could only offer silly money, but if they know there's competition they might buck their ideas up a tad. Working around the £738 figure from your buyout/reduced premium, if they can quote you under £61pm you'd be better off overall and wouldn't have the grief of paying in one/two chunk/s either They weren't moving on the price at all. And they wouldn't let me open a new policy until the old one was paid off. Paid half already now, can't wait to wash my hands of them! Quote Link to comment Share on other sites More sharing options...
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