BMW Insurance - Equity pulling out of some areas

scorp888

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So just got a phone call from Motorad Insurance. Apparently the backing insurer Equity have pulled out of quite a few post codes. She was covering BR, HA KT and a couple of others.

New Insurers want a chain (and/or can't get clarification) disk lock. Both Thatcham.

Anyone been down this route?

Cheapest lock/chain that a) thatcham approved, b) fits the holes in the gs1200 wc disks?

Don't mind a disk lock, but carrying a chain around is going to be a pita...
 
Is this upon renewal, as they cannot change terms after policy inception.

If, it is a new policy you are supposed to get any 'conditions' in writing, otherwise how do you know what is specified ?

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Is this upon renewal, as they cannot change terms after policy inception.

If, it is a new policy you are supposed to get any 'conditions' in writing, otherwise how do you know what is specified ?

Sent from my GT-N7105 using Tapatalk

To be fair, this is about 30 days before renewal. But the poor temp (I assume) as they've got quite a few people to call. Is trying to find out what people have re chain/disklock Apparently I'm the 30th call of the day and the first one that's gone chain or lock or both which she didn't have an answer too. I also made the point of there is no good in a chain if I can't change it too something else, even if it's just looping the chain of the bike next to me.

Moi, what BMW fitted it with, as I don't do London that often, plus I've seen bikes with tracker, £200 chains and £100 disk locks lifted into a white van so if it's going it's going. Points made about chaining it too something aside (or finding something to chain it too)
 
It isn't for them to "find out" what you may or may not use. Is it Thatcham , sold secure or even RiDe approved ?

Which is correct or best what happens if you use more than one, or even none. When do you have to secure it, is it covered for less than 5 minute's but not for more ? If it isn't specified as a term and condition then the policy is deemed to be in your favour.

I have three different types of security on my caravan, but my insurer's only care about one, interestingly they did confirm they cover all three security costs if my twin axle got stolen.

Sadly, all you can do is make the next bike along more easily nickable than yours.



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From what you are describing - they require a Thatcham approved Chain/lock or Thatcham approved Disc-lock.

They may ask to see proof of purchase, and if the bike does subsequently get nicked - then you may have to prove that it was secured?

Sounds like they are haemorrhaging on claims for theft in those areas.

Al
 
It isn't for them to "find out" what you may or may not use. Is it Thatcham , sold secure or even RiDe approved ?

Which is correct or best what happens if you use more than one, or even none. When do you have to secure it, is it covered for less than 5 minute's but not for more ? If it isn't specified as a term and condition then the policy is deemed to be in your favour.

I have three different types of security on my caravan, but my insurer's only care about one, interestingly they did confirm they cover all three security costs if my twin axle got stolen.

Sadly, all you can do is make the next bike along more easily nickable than yours.



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To be fair, this is about 30 days before renewal. But the poor temp (I assume) as they've got quite a few people to call. Is trying to find out what people have re chain/disklock Apparently I'm the 30th call of the day and the first one that's gone chain or lock or both which she didn't have an answer too. I also made the point of there is no good in a chain if I can't change it too something else, even if it's just looping the chain of the bike next to me.

Moi, what BMW fitted it with, as I don't do London that often, plus I've seen bikes with tracker, £200 chains and £100 disk locks lifted into a white van so if it's going it's going. Points made about chaining it too something aside (or finding something to chain it too)

What is this gobbledygook meant to mean?
 
Is this upon renewal, as they cannot change terms after policy inception.

If, it is a new policy you are supposed to get any 'conditions' in writing, otherwise how do you know what is specified ?

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Oh yes they can, change the terms after inception.

Let's say, by way of example only, that matey bikermate says, "Yeah mate, me steed's fitted wiv a tracker an' I will be keepin' it at me 'ouse 'n all" but then fails to provide any reasonable evidence of the tracker being fitted (let alone it being kept at his house, as opposed to his mate's drum) there is every chance his premium will be altered and / or his policy cancelled. It's not a difficult concept to wrap yer brains around.
 
Actually, as you know your example is a pre existing condition which you, as a policy holder have failed to implement, the insurer is quite within there rights to cancel the policy.

What no insurer can do is add new endorsements to a policy after inception; ie must be garaged or have a tracker fitted.

I'd ask you to wrap your brain around that; but......

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Which, of course, is not at all what you said in post #3, which was full of they "They can't do this, they can't do that"
 
Please re read, the qualifier bit is about after inception.

A contract works two ways, however it cannot be either unfair or so opaque as to unintelligible.

Further, if it is not specifically excluded then it is deemed to be included and therefore covered.

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Is this upon renewal, as they cannot change terms after policy inception.

If, it is a new policy you are supposed to get any 'conditions' in writing, otherwise how do you know what is specified ?

Sent from my GT-N7105 using Tapatalk

Someone on this site may well misread or misunderstand this and, as a consequence, start to boil their piss.

An insurer CAN amend the policy terms - up to and including cancellation back to inception - after inception, if for example, a bikermate subsequently fails to provide the evidence / documents the insurer has demanded * and / or if it subsequently transpires that the insured person was, shall we say, 'inventive' with their details. The latter appears to be the case with the OP's colleague, though it is far from clear from the information provided as to where, why and when the confusion (and possible non-disclosure) over the points started.

See lots of posts on this site where bikermates suggest all sorts of 'inventive' methods of reducing insurance costs, up to and including lying to the insurer's simple question as to where the motorcycle is regularly garaged. No doubt these bods will proceed to bleat that they've been told (read on the internet, in other words) that an insurer cannot amend terms after inception.


* For example only: Proof of tracker, proof of no claims bonus, evidence of at least ownership of locks that are claimed to be fitted each time the bike is not in use, failing to produce the number of keys claimed to be owned when the bike mysteriously vanishes.... the list goes on and on.
 
You are misconstruing things;

If you are asked do you ride with a pillion and answer the question by misleading or false information then an insurer is entitled to cancel the policy at their discretion, or reduce payment if, in your example, you claim to garage said bike, when you do not.

If, you are not asked about something, they cannot amend your policy to say, cannot ride on a Sunday, garaged between certain hours, or must be secured to an elephant.

Or are you saying that an insurer can change a mutual contract unilaterally ?

You may not have taken insurance with that company, if you were not told of all condtions, the correct phrase is misselling.

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What is this gobbledygook meant to mean?

I suggest you read some of the other replies if you're struggling as it seems clear to most.

But in the spirit of you being a bikermate and all, lets break it down for you.

Equity - the insurer backing BMW Motoradds Official Insurance Scheme. Is not insuring BMW Bikes in certain areas. This might be from BMW's point of view a small problem. They have a temp, well I assume a temp, as they won't very knowledgeable about bikes, insurance or security. Phoning people due for renewals 30 days in advance to find out what extra security they have. As from the sound of it. The new insurers is wanting more than the standard security that BMW blesses the bike with.

Several people have mentioned the fact that there seems little point in asking for a chain, especially in London, given in many places there is no where to chain the bike too.
The discussion then moved on to adding or changing policy details after the policy incepts.

What I still don't have an answer to, is which disk locks are known to fit to the R1200Gs and any deals on them at the moment. The disk locks having to be thatcham approved.

hope that helps.
 
Agreed.

Equity must know what additional security they are now requiring and to what standard.

As a daft bugger, if I live in EH and am required to garage it at home address, but not elsewhere, what happens if I stop over in one of the class areas ?

Seems stupid that my bike would be covered but bikermate who lives there cannot get 'standard' insurance.

Thank goodness I don't have to work in insurance !!!!

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So amusingly they've sent out the renewal, without the details on it, so I could accept, point out their mistake and get 29 days "free"

But basically they want a Thatcham approved disk lock or Chain minimum. It's AXA who want the additional security. Equity won't insure a GS in most of the South of the country unless you're 200+ miles from London (they are apparently refusing quotes in norwich!)

Axa have been handed a big chunk of potential business and gone ..erm double the premium see who stays and they also need a thatcham lock or disk...
 
Agreed. Annoying that I was expecting it to go down and it's doubled!

So, for not the first time, an insurer - due to bad claims experience / charging too low premiums - pulls out of insuring bikes in certain post codes (or out of insuring motorbikes at all) and you expect the sap insurer that is foolish enough to fill the void that's left, to do it for less?

I can see a bright future for you as the CFO and chief strategic advisor to the board of the newly formed, Iran Iraq Friendly Mutual, when they launch their online website 'By bikers, for bikers'.
 


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