Insurance for Restricted Licence

[Juzz976]

So if someone on their Restricted Licence wants to purchase a new bike, say a 600cc.

Now this person is buying the bike with the intention of having it available for when full licence is obtained and in mean time having a friend with full licence as main rider as far as insurance goes, and ride pillion.

Obviously this person has better use of punctuation than me so no need to comment, to those who are that way inclined.

Can they get full cover insurance in this instance?

[Mully]

You can usually get cover. Generally, they'll happily take your premiums.

However, the insurance company will almost certainly not pay out if the rider does not have a full licence.

As to whether your friend can be insured as the main rider of your bike, you should talk to an insurance company.

[Juzz976]

hrmm no luck so far.

Seems if you own a big bike on restricted you cannot get full cover for named rider.

[mikemike104]

hrmm no luck so far.

Seems if you own a big bike on restricted you cannot get full cover for named rider.

Who have you tried so far ?

[Harvd]

When i bought my 400 i had it insured for fire theft and 3rd party under my name under the idea that if i did have and incident while on it i wouldnt be insured anyway. So just tried to not ride it. I really really tried i swear

[Juzz976]

Who have you tried so far ?

Swann and Kiwibike, will keep trying, dont look good tho

[Juzz976]

When i bought my 400 i had it insured for fire theft and 3rd party under my name under the idea that if i did have and incident while on it i wouldnt be insured anyway. So just tried to not ride it. I really really tried i swear

Full cover needed to finance 1/3 of bike

[JudaBaker]

Full cover needed to finance 1/3 of bike

If the only reason you're worried about getting insurance is so you can finance the bike then you could apply for a personal loan at your bank, or look for a finance company that will approve you for an unsecured loan (the bike will be yours, and not owned by the finance company as collateral, so they wont care if it's insured or not). Although if you write it off you will end up paying off a bike that no longer exists.

[Juzz976]

Although if you write it off you will end up paying off a bike that no longer exists.

This is true, although I have been paying insurance for everything, life health, income protection, loan protection, car, bike, house & contents, public liabiltity...and so on

Of the thousands I've payed out I've only ever made 1 claim for a tool box stolen from my garage.

Also tried my bank and they couldn't wrap their heads around how my pay works...
would have been a top up on existing loan and extend the time, $13 a week less than I'm paying now and said I cannot afford it. Had loans from them for more over last 10 years never missed a payment, go figure anywhere else will lend but secured only.

[mikemike104]

Swann and Kiwibike, will keep trying, dont look good tho

I found NAC (National Auto Club) really good to deal with, policy price was better than anything I was quoted through any other company (I had called State, AMI, Swann, Classic Cover, Kiwibiker, Tower and AA) I did have cover through FMG (Farmers Mutual Group) for the first 4 months but I thought I could get a better deal (and I did).

See how you go.

[DJSin]

I was able to insure my 650cc bike while I was still on my restricted - full cover.

[sil3nt]

I was able to insure my 650cc bike while I was still on my restricted - full cover.

No exemption on license? With who?

[hellokitty]

I was on my restricted license and bought a Suzuki S50 which is an 800cc bike.
I insured it for full cover with IAG on the condition that I didn't ride it until I passed my full license. It was covered for theft etc and for any rider over 25 with a full license, and as soon as I had my full license then it would be covered for me to ride.

SO yes you can do it but for gods sake don't ride it and expect to be covered. Get it in writing from the Insurance company like I did - it was specified on the paperwork.

[hellokitty]

I was able to insure my 650cc bike while I was still on my restricted - full cover.

I insured my husband's bike with Vero - they weren't interested in the CC rating or what kind of license he had (learners with an exemption to ride a 1300cc bike).

But the guy that does the Vero insurance (Golightly) is a biker and doesn't get hung up on CCs. You can't really compare can you? - I am sure that a 250cc Aprilia would poop all over the 1300cc Fury!

[nothingflash]

I was on my restricted license and bought a Suzuki S50 which is an 800cc bike.
I insured it for full cover with IAG on the condition that I didn't ride it until I passed my full license. It was covered for theft etc and for any rider over 25 with a full license, and as soon as I had my full license then it would be covered for me to ride.

SO yes you can do it but for gods sake don't ride it and expect to be covered. Get it in writing from the Insurance company like I did - it was specified on the paperwork.

Yep, me too - same insurer.