Insurance - is this too good to be true?

Has anyone heard of / used ebikeinsurance.co.uk?

I have just had a quote from them for my SV:
London address
parked on street
alarm & immob
4 years NCB
fully comp

£234.15!!!

Now I'm not one to complain about insurance being too cheap, but this seems unbelievable (next best quote is £420 from my current insurer, and that is about £200 cheaper than anyone else). It is just so much cheaper that it is leading me to the question of "what's the catch?"

Any thoughts?

Cheers

Ey

I came across these yesterday and they are no cheaper for my new 1150GS. There's not much between it since all brokers seem to use the same insurance underwritters (and there seems to be about 3 in the UK, ALL REALLY COMPETING FOR BUSINESS )

Not that I'm in any way annoyed about paying £480 TPO on a bike slower than the SV.

Hiya,

I started with eBike Insurance about 1 month ago. I was also amazed at how cheap their quote was - at least half of my old Bennetts policy.

Unfortunately I am about to test their claims department too, following an unfortunate accident about a week into the new policy

I have just submitted the claim which was quite straighforward and they have already answered confirming that they will be handling mine and the third party claim.

So, so far so good, will update as to whether they preform as well when it comes to paying up!

[mac608]

I would imagine these are just the broker, what you really need to look at is who is the policy underwritten by.
If these are the underwriters, and they are new to the market they might just be trying to buy their way in, which would mean large increases in premiums in future years.

A couple of years back I insured thru' Carole Nash, as broker, with an underwriter called "Independent". Independent went down the pan (fair do's to Carole Nash they got me reinsured at no cost to me with another underwriter, I just thought that CN's claims procedure was bobbins so have not used them since), it was just because we were considering Independent at work , after I had insured with them for the bike, that I realised after looking at their accounts, that they were not of any substance.But they were quite new to the market, and everyone has to start somewhere.
Should be interesting to hear how dubno gets on with his (or am I being sexist?)claim.
So if the policy is underwritten/with someone such as Equity Red Star, Norwich Union, etc ie a name you can relate to then you should (note should) be OK

(If you don't mind me asking...) How old are you? Have you just crossed an age threshold? (I've been lead to believe that there is a noticable drop at 25 for example) and perhaps more importantly, what is the excess on your new policy compared to the old one?

[squirrel_hunter]

Make sure they have your details right...

Got a quote last year for £230, abot £200 cheaper than the rest. When I phoned them back to take it they ran through my details and I found I had suddenly aged 10 years. "Oh sorry sir, that will be £560 please" said the nice lady before a torrent of abuse was unleashed . But I can't for the life of me remeber who they were...

I got a quote from e bike at £400 pounds cheaper than the rest, I Put it down to my NCB as I have only just passed my test

I told a mate who has a 400 zxr and her was really high, but she has had a prang.

I honesty thought to good to be true. I was getting fully comp quote for £800- £1000 but ebike quoted £400

They are regulated and guvoned (sorry for spelling) by UK law so just bought it.

[Quiff Wichard]

I am with e bike insurance as is E.D....i asked a similar Question...

I have gone with them £180 compehensive I am 38 bike not garaged and riding for a year and 2 months !!! iyear NCB and one accident - third party liability..

carole nash previous I paid £195 tpft..

so I am happy!!-- just question the breakdown cover and as yet have not tested it..but hey I can pay £40 for a years cover elsewhere and still be OK..

I think its fine meself will wait to see what others say who have had to claim....I must say- i fell much better with being comprehensive!!-- more confidence on corners etc in case I bin it-- yea £200 excess but better than nowt !! cos I aint the type to take it in a field n burn it if i have an off on me own thats my fault !!...

I have a niggle still though- it all seemed too good to be true- but, documents etc all came through very next day - read em cover to cover as has my wife who is an insurance advisor and she sees no faults.

Oh and she has read this and she says can she please please remind you all it is Comprehensive !! not FULLY comprehensive!...how much more comprehensive can comprehensive get !...soz- just her little soap box tirade.!!

[Quiff Wichard]

Originally Posted by snoopy

I came across these yesterday and they are no cheaper for my new 1150GS. There's not much between it since all brokers seem to use the same insurance underwritters (and there seems to be about 3 in the UK, ALL REALLY COMPETING FOR BUSINESS )

Not that I'm in any way annoyed about paying £480 TPO on a bike slower than the SV.

mines stil with equity redstar via e bike!!...was with equity red star with carole nash !!

[Quiff Wichard]

Originally Posted by Mech

(If you don't mind me asking...) How old are you? Have you just crossed an age threshold? (I've been lead to believe that there is a noticable drop at 25 for example) and perhaps more importantly, what is the excess on your new policy compared to the old one?

my e bike excess on comp is 200£...

on tpft with C nash it was errr £200 ....