Compulsory Insurance Excess

[fazersharp]

Is there any bike quote that has a lower than £250 compulsory excess, I have already set my vol one to zero. Seems they all start at £250.
Bennets are looking the cheapest so far, I take it that its not worth buying any of the extra legal cover, personal accident.

[BBROWN1664]

No idea on bikes but My 21 year old son managed to get a quote with £95 compulsory excess and £0 voluntary for a very good price on his car last week. I couldn't get anything with less than £150 on mine!!!

[darrsi]

This is very quick to join for free legal cover, and lasts for life, and at most you might get one email a year from them so no hassling you.



YourKey Free accident support service - motorcycle and car accidents | YourKey
http://www.yourkey.info/

[fazersharp]

This is very quick to join for free legal cover, and lasts for life, and at most you might get one email a year from them so no hassling you.



YourKey Free accident support service - motorcycle and car accidents | YourKey
http://www.yourkey.info/

I will look into that, have you used them

[darrsi]

Joined up years ago, never used them though.

[locksmith]

I joined your key a few years ago, probably saved several hundred pounds by now by not purchasing the additional legal. Never get any contact from them. Not sure you need to join a "club" though, I imagine theres web pages full of firms who will chase your legal claims.

[seangee]

I tend to go the other way. My logic is

• I have to have insurance
  
• I'm not planning to claim
  
• I want the lowest possible premium
  

[darrsi]

I tend to go the other way. My logic is

• I have to have insurance
  
• I'm not planning to claim
  
• I want the lowest possible premium
  

Nobody plans to claim, that's why they're called accidents. It's not just bike value to worry about, it's loss of work, possible future incapacity, etc. if involved in a serious accident.


Thing to note about legal firms though, is that they're not really that interested if you're obviously to blame, so bear that in mind.

[fazersharp]

Just remembered with the excess that I have found in the past that if it is say a compulsory of £250 and mu vol is £0 if I change my vol to £150 the comp gos down to £0, I will have a play tomorrow when I dont have Mr Hob goblin with me

[BBROWN1664]

Different insurers have different target markets. When I was looking at car insurance recently, the default voluntary was something like £250 but when I reduced it, different companies were quoting and I was getting lower premiums.

[Dead Eye]

I tend to go the other way. My logic is

• I have to have insurance
  
• I'm not planning to claim
  
• I want the lowest possible premium
  

This is what I do as well - usually put my voluntary excess up relatively high and figure out a sweet spot for the best premium. Usually there is little difference between £500 and £750 for example so I'd generally opt for paying say £2 extra premium to save £250 on the excess

[Grant]

You can also insure your excess too !!!!

So, lets say you opt for an excess of £750 to lower your premium, you can then insure your excess for about £80.  Thenh if you are in the unfortunate situation of having to make a claim, you only fork out the £80.

Win Win 

Loads of firms out there doing it now for cars, and the link below is for motorcycle excess insurance.

https://www.lexhaminsurance.co.uk/produc...insurance/

[darrsi]

You can also insure your excess too !!!!

So, lets say you opt for an excess of £750 to lower your premium, you can then insure your excess for about £80.  Thenh if you are in the unfortunate situation of having to make a claim, you only fork out the £80.

Win Win 

Loads of firms out there doing it now for cars, and the link below is for motorcycle excess insurance.

https://www.lexhaminsurance.co.uk/produc...insurance/

Well I never knew that?  :thumbup

[BBROWN1664]

Can you get insurance to cover the excess on the policy that covers the excess on the policy that covers the excess on the policy that covers the excess on the policy that covers the excess on the policy that covers the excess?

[fazersharp]

Well I have just had a play with my bennetts quote and it looks like I am on some sort of minimum quote, £78 fully comp with no claims protected, odd thing is if i chose not to protect my no claims it gos up by £10.
I have tried adding all kinds of security and then none -- same price and same excess £250, tried adding a voluntary excess of stupid £500 and still £78 with £250 excess.

I will be phoning my current insurer who has increased my price on last year by £60 to £140, and if they cannot match bennets they can foc off.   

[fazersharp]

I will be phoning my current insurer who has increased my price on last year by £60 to £140, and if they cannot match bennets they can foc off.   

Done - phoned them and they said that my £78 bennetts quote was lower than their minimum cost cover, so told them I will not be renewing and have now taken out bennetts. Looking forward to doing it all again next year.

By the way I find that MCN constantly produce the lowest quotes on their comparison site.