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!!! :shock: :shock: :shock:

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 :roll: )

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

Insurance - is this too good to be true?
 

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 :cry: :cry: :cry:

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!

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?

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 :lol: . 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.

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.!!

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

my e bike excess on comp is 200£...

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

Well in that case, I think that I would be crazy not to take it. They don't say on the website who the underwriters are, but they are a part of Southern Rock, who are members of the Association of British Scumbags erm sorry Insurers.

And to answer your Q mech, I am 29 so I haven't even passed the big 3-0.

Happy days - thanks folks.

Ey

As the quiff said i'm with them, and when i bought my K5 2 months ago i changed my insurance to them and it dropped to less fully comp on that than i was paying third party on my old curvy. :D

I am with Ebike insurance too.
I don't have any no claims as my last bike was 11 years ago. Bike is kept outside but with Delta imobiliser and ground anchor which are both on their security list.
I paid £283.50 for TPFT and Breakdown. I was 35 when I took it out.

The insurance was cheaper than all the other ones I checked but I can't remember by how much, however I'm sure by about £100 -200 in some cases.

Im another ebike insured rider, they were over £200 cheaper than any other quote I got.

personally I also went with them as they are local to me just incase.

I had the same experience with biketeam insurance. £229 down from £450 ish from all the others I just took it and ran.....try them maybe see if you get the same deal?

Mines £113 a year. so thats well expensive ;)

Ebike, 97quid comp, Cn was 212 to renew. Makes running the SV very cheap esp. when I'm trying out this exrace rubber at 40 a pair 8-)))))
JonC

jonacol?? 97 £ comp???

are you 300 years old with full no claims??

Lives in wales, a mate of mine in wales pays somethign like 170 fully comp on a vfr4 at 1 with 1 years ncb. Mine is £447 tpft at 17 with 1 years ncb

Bought insurance from their website monday night and got the forms through yesterday (wednesday), so far so good, though interested to see how your man gets on with his claim. I am 32 with no experience or NCD, though I do live in the sticks. They came in at £380 fully comp, including breakdown cover and european cover, everyone else was in the £550 mark.
Only two very minor concerns, one is that I needed a cover note to get the tax disk for me new bike, went to the post office but they would not accept the ebike one as it was a pdf that I had printed myself, apparently it has to be printed by the ebike printer?!?! No problem though, just had to wait another 24 hours for the paperwork, though was a wasted trip to the post office.
Other one, and this is ultra paranoid, most insurers state that they are governed by the Finanical Services Commission (UK) whereas ebike are Financial Services Commission (Gibraltar). Doubtfiul that that makes any difference at all, but is a bit weird, unless ye live in Gibraltar of course

Edit: Scrub that comment on the cover note, I'm being thick. Thats no fault of ebike, a faxed cover note is no good either, so can't imagine you can get a tax disk with any cover note, whatever the company.

should think thats more of a tax issue than anything to worry about.....Gib is still UK( at the moment !!) just registered there no doubt..

I have just got back from spain and Gibraltar- was wierd- there is one street there wiht loads and loads of little doors with signs outside of different companies.!!! just like dead letter boxes! no offices- just to reg in Gib and save the tax etc..

:D Just got a quote, With all the Mods listed to them with 2 years NCB and at 37 years old garaged...
£175.00 Fully Comp..
So in November time I'll be giving them another go... and change from Norwich Union to Ebike.

I just got a renewal quote through the post for £850 it's a **** take i tells you, thats with C.I.A Fully Comp 2yrs NCB, rural, garaged, 23yrs old :evil:

Jesus Mate!!

I've just got me a quote on a brand new K5 with a grands worth of mods, anchored on a driveway, 0yrs NCB, 3pts, 25 yrs old for £367 TPFT - inc legal, courtesy, pillion, commuting and 30 days euro cover

NOT with ebike either, don't get me wrong, they were cheap (£423) .... but I found cheaper :roll:




(M.C Edwards btw!)

Urrrgggghh,

I've just bitten a chunk out of my wrist :x

Maybe 25yrs is the break through into more reasonable quotes :-k