Yamaha Thundercats
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Ride Away/Temporary insurance cover

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Post  Snowcat Tue Oct 30 2012, 22:43

First topic message reminder :

Does anyone know any companies that do temporary bike insurance, I'm looking to pick my new bike up on Saturday but my existing policy doesn't run out for a couple of weeks. I was hoping to get some kind of bridging insurance just so I can get her home early, I'm impatient and don't want to wait but not taking out a new policy for the sake of a couple of weeks the difference is £700 or £250!! It's a no brainer but now I've put the deposit down I want want want it!!! Smile

Any ideas folks, trawled the googles and come up with nothing, cars/vans/motorhomes no problem....bikes not happening.
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Post  biscut Mon Nov 05 2012, 12:21

neigh worries, knew I had seen it but couldn't lay my hands on it till this morning.

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Post  Snowcat Mon Nov 05 2012, 12:43

Now this is where the law.. Or rather insurance companies contradict themselves, you see I've researched this a fair bit to be honest and with the exception of Motor Trader policies a bike, or car CANNOT be insured by anybody but the owner/registered keeper. The reason for this is if someone else insures your vehicle and crashes it, they not you would be paid out for any resulting claim, thus someone else making profit from a claim on your property, I am told this practise is illegal in UK law and any resulting insurance policy where there is a change of ownership immediately becomes invalid. These are the words of an insurance loss adjuster who works for Zurich.

I think these insurance companies tend to just bend, adjust, break
The rules when it suits them but the fact of the matter appears to be as soon as there is a change of ownership the insurance on said vehicle becomes invalid, regardless of whether or not the insurance company is informed or not. Grey area none the less
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Post  terry lees Mon Nov 05 2012, 12:47

Yup, thats the one I read as well
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Post  0ldcat Mon Nov 05 2012, 13:15

Ah well,

I recon the subject is kinda irrelevant now that we know John has bought the bike.
I'm sure he's not gonna let anything like that happen. green smile Thumb
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Post  weasley Mon Nov 05 2012, 13:27

If the policy you have has not been cancelled and you still have the certificate, the insurer is still bound to honour third party claims on the vehicle. However, this is not the same as you "being insured" because you're not - the insurers, once they have picked up the costs of the claim, can them come after you for reimbursement. This is the difference - the third party involved is covered but you are not and thus are not "insured" (since if you were the insurers would pick up the tab and leave you alone.... until renewal time at least).
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Post  Snowcat Mon Nov 05 2012, 13:31

Well yeah because I've not given them the V5 for it yet as its still with the DVLA, theyve no transfer to trader document and I've not actually signed the bike over to them so technically not a worry anyway, I'd already said they won't get the V5 until after the 15th and my insurance is just covering a bike I still own (at the moment)!!

I would be interested from a legal standpoint if the dealer can actually allow the bike to leave as technically it ain't theirs yet??

Not that I've a problem as I know who it's going to, not sure it's ethical of them though selling the bike with no V5
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Post  Guest Mon Nov 05 2012, 19:15

Obviously not much use in this particular case but on this subject....


Some bikes (and I'll stress SOME, as it depends on the package the seller has bought) advertised on MCN's bikes for sale website come with free 7-day insurance:

http://www.motorcyclenews.com/MCN/Other/Protected/#insurance

I've used it before, and it was pretty straightforward - sit in the seller's kitchen, phone the number on the pack, answer a few questions to make sure I'm not a lunatic, and then you're covered to ride it home.

Hope it's useful to someone Smile EDIT: just checked and all 12 of the thundercats currently listed have this icon, so if that's where you're looking, your chances of being covered by this might be pretty good.
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