Need insurance but don't have a bike...what to do?

[Dick Dastardly]

Unfortunatley I had to sell my CBR600 yesterday after only 6 months of bike ownership. The debts just got too high and I had an offer I couldn't refuse

I have paid for the 3rd party insurance so far and don't want to cancel the policy now, as I want to have a years no-claims bonus by next summer

Now that I don't have a bike, how can I do this? I've heard that you can get a broken up bike from a scrap-yard or the rights to a bike, which you can then insure yourself on even though you aren't ever going to ride it

Anyone got any advice or done this before? Is it legal? (can't see why not)

[stooz]

Ive done it myslef, sold a bike but kept on the insurance over the winter, to tie up my no claims end to end.

Its not like you going to make a claim is it?
You could get them to downgrade it to SORN (off road, 3rd part only) and get a refund too..

[Dick Dastardly]

Do I need to get another bike/rights to a bike to do this, or could I just keep insuring the current bike? (bearing in mind its not in my name or at my address anymore)

[stooz]

keep it on the same bike if you wish. I guess its probably dodgy, as you could claim it was stolen, but you could claim that even if you had kept it and hidden it. The new keeper would have a signed V5 admitting you had sold it.

As long as your not planning an insurance scam, your not doing any harm.

[kevp]

Dont tell them you have sold the bike. Just let the policy run its term.
In the past when Iv sold a vehicle the unused refund was never worth collecting, and as stated by others your not going to make a claim on the bike.

[dick dastardly]

Cheers boys, it's only 3rd party so even if I wanted to make a claim then I couldn't.

I was a bit scared that if he sets up a new policy then it would already show as insured, but I could always tell my insurers that he'll still let me ride it once in a while so I still need the insurance. Would this be OK?

Cheers, DD

p.s. The insurance set-up is weird. I had to pay about 1/4 up front & 1/2 over the first 6 months, leaving me with only 1/4 left to pay now. So there would be no point ending the policy totally and losing no-claims for the sake of £200.

[stooz]

cross that bridge if and when you come to it. in the mean time dont tell them anything.

[Tim2100]

I would be tempted just to buy a heap witha v5 from scrap yard for £100, the the remaining months on your policy you would be insuring a bike way less risk than your old bike therefore you would get money back which will pay for the heap.

Keeping your insurance open is dodgy ground as there will be two policys on the same vehicle, which is a big no-no. You can only insure a vehicle that you have a registered intrest in. I'm sure it comes under some type of insurance fraud.

If you do get a heap you will be better off in the pocket than keeping the insurance going on your old bike, plus if you haven't sorted yourself out by the time the insurance finishes you will be able to continue the insurance policy, whereas you wouldn't be able to if you kept the policy going.

Hope that all made sense

Tim.

[Dick Dastardly]

Right then. I bought a V5 from a chap on Ebay for a Honda CB400. Been trying to insure it today and the insurance company are being a nightmare.

Firstly they wanted to know whether it's a CB400 T-superdream, N-superdream, F-somethingorother etc. I don't know as it doesn't say on the log. Tried finding out through Honda and the DVLA, and neither knew either.

I called them back at lunchtime to try and get further and said that its worth £100. Now they don't know whether or not they will insure it as it isn't valuable enough!

FFS! This policy will basically be free money for the fools. Why can't anything go according to plan?

[northernboy]

Dick Dastardly said:

Right then. I bought a V5 from a chap on Ebay for a Honda CB400. Been trying to insure it today and the insurance company are being a nightmare. Firstly they wanted to know whether it's a CB400 T-superdream, N-superdream, F-somethingorother etc. I don't know as it doesn't say on the log. Tried finding out through Honda and the DVLA, and neither knew either. I called them back at lunchtime to try and get further and said that its worth £100. Now they don't know whether or not they will insure it as it isn't valuable enough! FFS! This policy will basically be free money for the fools. Why can't anything go according to plan?

You could buy the V for my RXS100. £350, and I'll throw in the free bike with it, just in case you need to check any facts.

Actually, come to think of it, you could even ride the bike around (taxed and MOTd) through the winter, and use it to get you to places.

[dick dastardly]

Thanks for the offer, but the only reason I'm doing it is to be as cheap as possible and keep the insurance going for the last few months of its year so as to get the NCB