Fully comp or tpf&t, what do you have?

[Stuno1]

Thanks for all the replys. I think i am going to go tpf&t and get the gsxr600 2006 onwards.

It is a risk but as i mentioned previously, i have a bodyshop just down the road

Stu

[Stu]

im FC and always have been since day one!

The way i look at it is if you wrote your bike off you can still recoop some cash back for repairs or replace

whats the point having a 4k bike go down the road hit some diesel total the bike ie bend forks frame crack engine and have a bike that is worth nothing and beyond repair!!!

Ring around for insurance haggle with them you will get it cheaper

[JamieK]

£400 for £4000 bike, im not complaining, whereas cars its the other way round

[Revvin Kevin]

whats the point having a 4k bike go down the road hit some diesel total the bike ie bend forks frame crack engine and have a bike that is worth nothing and beyond repair!!!

 

Actually that happened to me when the bike was insured TPFT. I rebuilt the bike for £1300 which taking into account a typical excess of £450, (when insured FC) realistically cost me only £850. There was then no increase in premiums for the next 5 years as there would be if I had claimed on a FC policy.

You have to understand the risk and insure accordingly, £4k is the defining line for me

[Stu]

its ok if you can get all the parts cheap enough and do all the work yourself

it cost me £1800 to repair one of my bikes but that was with a £1000 spray job that was also with only fairing damage exhaust clocks footpegs a clipon!!

would have been a lot more if it was frame and forks bent too

also it depends on availability of parts if they are cheap and easy to source jobs a good un

then theres the flip side you could have no accidents or theft in 25 years all depends how much your willing to risk

i only go FC now as its been a coule of quid in it

[kojak_79]

tpft at the moment just because last bike wasn't worth fully comp now i've upgraded going fully comp in jan

[bex]

why does everyone who has tp and tpf&t all look at it like, "the bike is only worth xxxx amount its not worth it" yeh ok so your bike aint worth much and you can repair it, but what happens to the other damage that you could cause and have to pay for, you fall off on your own acount that is fine but the bike slides into a parked car and damages it / slides and hits someones fence or garden or property / god forbid it happens the bike hits curb, flips and hits someone. how you going to pay for that?

[mojobanana]

Third party means if a third party is involved then they're sorted, it gets paid for. Its yourself that doesn't get paid for.

I'm fully comp. Because I'm worth it

[duane69]

Third party means if a third party is involved then they're sorted, it gets paid for. Its yourself that doesn't get paid for.

I'm fully comp. Because I'm worth it

 

plus I got full comp for the same price as tpft this time

[bex]

ok my bad, i am on the same page again lol

fully comp all the way though, not worth loosing anything

[Ingah]

fully comp all the way though, not worth loosing anything

 

Indeed, which is why i'm usually TPO/TPFT (i.e. whichever's cheapest).

The maths works out as thus:

My CB500 probably has a write-off value of £800 (with the modifications it's got and the way that it's been extensively repaired etc, it's probably worth nearer £1.5K to me, but that will not be taken into account in the result of a claim).

My excess offered is usually £300-£400 (this time around the initial quotes seem to be offering a laughable £800 excess).

The difference between TPFT and comp is £100 right now (£143 vs £243 based on some quotes i had earlier). Noteably it's a smaller difference than last year, which is showing that my statistical risk of a fault accident is lowered.

So we'll take the scenarios in turn.

1) I take TPFT/TPO. I don't crash or claim (most likely) - even if my bike is stolen.

£100 saved.

2) I take comp. I crash/whatever.

After much wrangling and arguing with the insurance, after 6 weeks or so (in the case of a theft claim this delay is perfectly normal), i'll get my bike valued at it's market value of £800. So i lose the other £700 its worth in my head. And the insurance company now owns whatever is left of my bike, which they may or may not sell back to me at a fair price. And they take their £400 excess off. Add this to the extra £100 i paid in extra premium (which as i've said i'll pay either way).

So i'm getting a net profit of £300 (in comparison to being TPO or whatever). And i lose my bike (which i may or may not have lost depending on what happened if i was TPO) and/or have to take buying it back out of this £300. I also have to wait while insurers mess around, whereas if i'm not going through insurers i don't have to wait for anything.

Doesn't seem so bad taken alone really. But it gets worse.

I have 3 years NCB. I'll lose 2/3 of those years depending on the company, which i would estimate would add £200-£300 to my premium the following year, just in NCB. The insurers will also add a little bit (or a lot depending on the insurer) on top for having declared an accident. And it'll have to be declared/loss of NCB the year after. And the year after that. And after that. I'd be lucky if i only lose a grand or so over the following 5 years. Probably far more. All for my (possible) £300. Or less.

It's more like a loan than a payout (a high interest one at that, which i can only get if i am unlucky!)

I'm not sure i explained that 100%, but hopefully it illustrates the point clearly enough to anyone considering the TPO/TPFT/comp options.

I'm fully aware that when you get older/your risk is lower, it can look more like this:

£3K bike.

Difference between TPFT and comp £30 premium.

Excess £150.

So in the event of a claim, you'll be £2.8K+ up! (you'll still get hit in following years, but it's probably not going to be so badly as the statistics are likely in your favour, and it'll take a lot to beat the £2.8K!)

[R3pilot]

FC Protected no claims, breakdown cover and a courtesy bike for £12 more than TPFT--No brainer But I had to haggle the price

[Stuno1]

I guess it comes down to an individuals perception of 'acceptable risk'.

If there was only 100-200 in it i would go fully comp every time but it is almost 800 difference so makes sence to not go FC for now.

Interesting to see peoples responses though.

Stu

[techno]

I was tpft till i got to the zx6 before that I had 4 offs on my cbr, It was always cheaper to get it running than pay any excess tho. since going fully comp stayed upright also but it does give you peace of mind.

[cruz]

Ingah,

just because I (or anyboby else) has FC ins. Does not mean in the case of an off we would put a claim in ! But if needs be we could.

Also TPF&T, if you have a no fault accident who are you going to approch, to pay for your repairs ? Your insurance Co. no they are not interested, the at fault party's insurance ? He/She has no legal obligation to inform them.

Point I am making is you must add the cost of legal cover to take this into account or go to the 'no win, no fee' ad's. Which is also a joke as most solicitors will do that anyway (even 'NW, NF', don't take it on if they think they will lose).

This is through bitter experience, and the other (at fault) party had been charged, gone to court, found guilty, fined and had points on his licence. My TPF&T company would still do nothing, when I asked why I paid them all the money I had they replied, "it's the law, you have to be insured", Oh btw I could not get any company to insure me FC at the time and I had several years NCD.

[techno]

Just as a flipside to cruz's post im have had a couple of perfectly good claims against others while on tpft ins...maybe its down to the cpompany you go with, sometimes cheapest isnt always best

[iiisecondcreep]

My tpft insurance includes legal cover and breakdown cover with the rac (although I am with the AA anyway which covers me for any vehicle).

[Revvin Kevin]

FC Protected no claims, breakdown cover and a courtesy bike for £12 more than TPFT--No brainer But I had to haggle the price

 

That raises another question. Who protects their no NCD ?

Although your NCD is protected you still become a greater risk to the insurance company and they will either refuse to insure you or increase your premiums over subsequent years. Is it worth it ? Personally I don't bother.

[mattyb]

I was tpft till i got to the zx6 before that I had 4 offs on my cbr, It was always cheaper to get it running than pay any excess tho. since going fully comp stayed upright also but it does give you peace of mind.

Being a new rider the fully comp quotes were quite large, around £300 more than third party. That saving alone covers most damage that's likely to happen, plus the hassle of dealing with insurers to make a claim and delays put me off. If I had a more expensive bike then I'd consider fully comp.

I do ride for fun rather than necessity though so can use the car if bike is off the road, car only costs about £20 more for fully comp.

[cruz]

Techno,

My insurance Co at the time was Norwich Union, and it was not cheap but the only Co that would quote for NI.

In fairness things may have changed in the world of insurance in the last 30yrs but it still leaves a bitter taste, and has given me a jaundiced view of insurance Co's since.

[Ingah]

Ingah,

just because I (or anyboby else) has FC ins. Does not mean in the case of an off we would put a claim in ! But if needs be we could.

Also TPF&T, if you have a no fault accident who are you going to approch, to pay for your repairs ? Your insurance Co. no they are not interested, the at fault party's insurance ? He/She has no legal obligation to inform them.

Point I am making is you must add the cost of legal cover to take this into account or go to the 'no win, no fee' ad's. Which is also a joke as most solicitors will do that anyway (even 'NW, NF', don't take it on if they think they will lose).

This is through bitter experience, and the other (at fault) party had been charged, gone to court, found guilty, fined and had points on his licence. My TPF&T company would still do nothing, when I asked why I paid them all the money I had they replied, "it's the law, you have to be insured", Oh btw I could not get any company to insure me FC at the time and I had several years NCD.

 

Absolutely, you don't have to claim. But you've still paid the extra premium!

And personally, i'd aim right at the 3rd party themselves in that case with a court summons (not the insurer - them personally). If that doesn't get their arse on the phone to their insurer nothing will.

I'm not quite sure what you're trying to say, apart from that nobody gives a crap if it isn't in their interest (cut-throat as it is there's no point offering no win no fee to a client when you're unlikely to be able to win your costs back - a la giving your time for free). So if you'd had comp, you could've claimed and taken the future insurance hit on the chin instead - which is what i've already said. I'd never even bother asking an insurance company to chase a 3rd party claim on a Third Party only policy, as that's not what they're for (nice of the ones that do it - but i would prefer to choose my own legal counsel). Although yes, i do appreciate that stinks.

Legal cover - as far as i know - contains a clause that amounts to the same thing as the NW,NF people do - if the case doesn't have a "reasonable chance of success" (as judged by them) then they won't take on your case. For all intents and purposes you're paying money to be offered a NW,NF management firm (if they want to take it on) without even having the choice of who! (who will pay the insurance company a nice sum for it).

[cruz]

[And personally, i'd aim right at the 3rd party themselves in that case with a court summons (not the insurer - them personally). If that doesn't get their arse on the phone to their insurer nothing will.

I did, on the advice of his insurance Co after they had sent him 3 letters requesting information.

[Guest]

Never pay more than I have to and I never claim on my policy.

So I've had FC once in my life - on the FLHTCU - and that was only because no one would insure me for less because of its value.

The rest of the time has been TPFT on the first bike and TPO on all my other machines. I've claimed once for a theft since I began riding almost thirty years ago - the four other claims have been on blind cagers' insurance (having knocked me off).

[Gixer jme]

For me fully comp was £40 dearer. Now it's just as cheap and comes with loads of extras also.