Insurance question?

[zippy]

Kia ora All,

I returned back to NZ last year after 10 years overseas, i took out a policy for my bike and paid in full as i had the cash then.

However its due for a renewal but i found i did not ride as much over winter and i am thinking of laying up my bike for the winters.

What i want to do this time around is to take up a policy on a monthly basis and then come the winter months change it to third party fire/theft policy to cover it while it sits in the garage.

Are insurance companies ok with people doing this?

Do they apply a penalty if you cancel/change a policy half way through from a full policy to a cheaper 3rd party fire/theft if your paying monthly?

[oneofsix]

The larger the chunk you pay at a time the cheaper it is, therefore paying monthly will cost you more across the year. I expect changing the terms of the policy as you suggest for part of the year will also cost you, just adding a named driver can cost you so changing the whole terms is almost certainly going to. Best bet is to ring the company and ask but expect the answer to involve you handing over more $$ to make the change and then you have to work out if the savings is worth the change fees.

[zippy]

Yip, thought i am not planning to keep that policy the whole year but i am aware that paying the $750 up front will be cheaper than spreading it out if i was going for a full years policy.

I wonder if it will be simpler to cancel the policy outright after summer and then take out a 3rd party fire/theft with someone else if they are going to charge me to change the policy over from full to 3rd during the winter.

[nodrog]

PM Drunkenmistake for all your insurance queries.

[mossy1200]

Im lucky my MT is classed cruiser by the insurance company and so is low risk. As long as Grey doesnt crash again it should stay cheap.
$400 for 15k cover

[DrunkenMistake]

]
PM Drunkenmistake for all your insurance queries.

Poor fella PMed me too haha,
swan insurance pays out ..:sweatdrop

[huff3r]

I have never been charged anything for changing insurance, and I've done it plenty. Changed my contents insurance about 6 times last year as living situations changed.

You will pay extra for paying monthly, but thats pretty normal.

[FLUB]

The other option is to keep full insurance but limit the annual km's. Can't remember the numbers but know it worked out about the same as 6 months full and 6 months third party fire and theft on my Rocket III. Only keep the Rocket rego'd during the summer.

[zippy]

]

Poor fella PMed me too haha,
swan insurance pays out ..:sweatdrop

Obviously i missed the joke or nor read any threads that would clarify...

[zippy]

I have never been charged anything for changing insurance, and I've done it plenty. Changed my contents insurance about 6 times last year as living situations changed.

You will pay extra for paying monthly, but thats pretty normal.

I see, i called swann after the replies here, they said they will allow me to have full cover over summer and then downgrade to fire/theft if i am laying up the bike for winter.

There is no charge for changing the policies mid term as long as its not frequent changes ie every month.

[curly]

Obviously i missed the joke or nor read any threads that would clarify...

Have a laugh http://www.kiwibiker.co.nz/forums/showthread.php/152527-Was-it-just-a-drunken-mistake

[Owl]

I see, i called swann after the replies here, they said they will allow me to have full cover over summer and then downgrade to fire/theft if i am laying up the bike for winter.

Just be aware that TP fire/theft on a motorcycle is often dearer than comprehensive.

Star Insurance may taylor something with storage cover over Winter. Could be worth a call?

[pzkpfw]

Yes, this is an insurance question.

[zippy]

Just be aware that TP fire/theft on a motorcycle is often dearer than comprehensive.

Star Insurance may taylor something with storage cover over Winter. Could be worth a call?

Thanks i will do, i am not going to take swann's quote at face value either...