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Insurance on a new GSX-R 600 K7
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Collective,
I wonder if anyone could give me some advice on the following.
I'm attempting to get a quote on a brand spanking new GSX-R 600 K7.
Being 24, living in London, with no garage (Thankfully there's a
"driveway" of sorts, I've installed a ground anchor), it's proving
difficult.
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You'll find it'll be a pain to get insurance until you're 25, then
it'll simply be "a lot" instead of your current situation. Try
something not quite superbike - a Triumph Daytona was surprisingly
cheap on insurance for me.
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My Daytona costs me 30 quid a year more than the Gixer Thou it replaced,
with both being valued at about the same.
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Yeah, but I don't see how you can complain when the total premium is
still only £120.
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After a lot of effort, I've managed to get a TPFT quote of only =A31350
(or around =A32500ish for fully comp). I did this by under-declaring the
value of the bike, at only =A35000 (Full value is =A36750). If I declare
the value as being over =A35000, almost all the insurance companies
refuse to provide a quote, or quote insane numbers.
I'm fairly happy to roll with =A35000 as the value, if the only
consequence is that I can't claim more than that figure. However some
people have pointed out that the insurer may void the policy on the
condition I misled them over the value.
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Then some people are thick and incorrect. If you declare value as 5k,
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Indeed you are. I doubt it would be that difficult to prove that value was a
material factor in determining the premium. i'd expect most actuarial models
to take into account, so if you misrepresent the value, you risk having the
entire policy avoided.
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then that's the maximum you can claim.
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The OP should declare the correct value.
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So, does anyone know for sure what the situation is? Is it safe to do
this? I'm going to call them up tomorrow and ask, but thought I'd ask
here too. Also, any other advice/comments on insurance welcome.
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