Insurance: Fully Comp vs TPF&T

[ZX6Rich]

ok Cars obvious fully comp
Bikes is there a real benefit in fully comp over TPF&T? bear in mind im not gonna claim on anything unless its really major

What im really asking is, is there damage that can occur that will cost me more than about £1000?

Sorry for the probably very stupid question but the difference in insurance is staggering!

Many Thanks
Rich

[DynaMight]

FC can be very handy. Even if you have an accident thats not your fault, you wont get any repairs until its settled.

Put it this way, Kelly got took out June 08 by an uninsured driver and that's not sorted yet, if she was TPFT the repairs would not had been sorted yet. Potentially leaving her off the road for over 2 years.

[ZX6Rich]

Should have said that the difference is £600 which is twice as much!!

[shammy666]

Hmmmmmm, good question!!!! Only you can decide if you want to take the risk of TPF&T but if you have a £500 excess and save £600 by going TPF&T thats the £1000 your on about and yes i know that adds up to £1100 before anyone says anything

I'm fully comp btw but am much older so it's FARRRRRRR cheaper so not such a big decision for me

[ZX6Rich]

Not seeing ur point on that Sham excess is the same at fully comp

Just wondering how badly id have to crash for the damage caused to exceed like £2000 or so (not gonna claim for less as the cost of insurance will be stupid the year after lol)

More opinions wanted and Sham to make sense also wouldnt be turned down ;)

Rich

[Dynasangel]

Like Dynamight said I got knocked off in 2008 and still not the claim out now my accident was at low speed when the car turned in front of me and it cost over £1700 repair my bike. Due to the fact i had to claim on my insurance it has taken affect on the cost now so at present im TPF&T but when i renew next year i will defo be going back to fully comp.

[shammy666]

hahahaha I know what I meant just can't type it very well, shall try again.

If you have to pay LOADS to have fully comp policy and have a MASSIVE excess (what you have to pay towards the repairs) may not be worth it. Say if you wanted to claim for £1,000, have a £500 excess you'd only get £500 from insurers, comp costs you £600 so your £100 worse off and loose any NCB. Depends on bikes value and what your worst case situation max claim likely to be. Think that was what I was trying to say...does that make any more sense? Probably doesn't as I'm tired and my brain hurts

Probs don't take long for any damage to mount up in the old ££££'s stakes

Go comp & shop around, problem solved

[ZX6Rich]

Cheapest i can get on go compare is 1100 full comp or 600 on tpft

[TLS-Moose]

It's all about risk and likelihood - if you have an expensive bike, and tend to ride quite hard, then the risk of you dropping it or crashing where the fault is you will be higher. If the bike has quite a high value or repair cost, then you stand to loose a lot of money. If the bike is a cheap old knacker, and you can afford to either write the cost of it off, or repair from scrappies, then TPF&T is the way to go

I rode for years with TPF&T. Now, old, fat, and wizzened, there is little difference between the two, so fully comp it is

Ultimately, it's like I said - if you are prepared to write off the value of your bike in the event of an "own fault" claim, then stick with TPF&T. If you can't, and need the bike to be replaced, then fully comp is the way to go ......

[DaveMcR1]

How much is your bike worth?

[ZX6Rich]

Will be a new beast so between 8 and 10k

[DaveMcR1]

Then, young man in my honest opinion full comp is the only way to go, if you are going to spend that much on a new bike you should not quibble about spending an extra £600 on insurance for piece of mind. Unless you look to buying a cheaper bike & build up a no claims bonus.

The repair bills for modern bikes are horrendous, fairings for some of the new sports bikes could £1500+. 1 head light for an R1 is £250.

[TLS-Moose]

I guess it'll be on finance then? How p*ssed off would you be to write off a bike, then continue to have to pay for it AND have to fork out to replace it yourself too .........

[ZX6Rich]

Aye loan but u can get gap one for bikes right??

[TLS-Moose]

As I understand it the "gap" only covers just that - the gap between current market value and replacement cost of new bike ...... it won't cover your outstanding finance ....