Insurance: is yours valid?

Martin C · 08-06-2007, 05:34 PM

I've had a Carole Nash Custom policy with Equity Red Star for 5 x years (originally covering my "modern" 612cc Royal Enfield Bullet GT Cafe-Racer, and subsequently a "classic" Moto Guzzi, a Monster 900, & recently an ST4 as well) and previously had to list all modifications to the Bullet on a separate form & provide pictures of it for their underwriters.

Calling CN to renew my policy this week, I mentioned the non-E-marked (Viper) cans on the Monster, and they said "the bike is not covered, and any claim would have been thrown out immediately". I pointed out the Bullet has a "Goldstar type" silencer that I had listed years ago, and they said in that case if it wasn't E-marked (it's not) thenthe Bullet also wasn't ever covered! They said I should have told them about any non-E-marked exhaust, although they never specifically asked me about this. (The 1986 Guzzi is borderline for needing E-marked exhausts, and has Lanfranconis stamped with "competition use only" - in Italian which my local MOT tester doesnt understand!)

All my silencers have passed recent MOTs with no problem, but Equity Red Star via Carole Nash are only happy with E-markings. However, via other brokers (e.g. Ducati Insurance) Equity WILL cover a bike with non-E-marked exhausts (albeit they'll only pay for replacement standard ones), so it is clearly NOT a legal or underwriting issue that's at stake. This is a common modification so you might expect CN to pro-actively ask the question before insuring any bike: but they don't! Why not?

I suspect that Equity probably gives CN a rock-bottom deal, enabling CN to offer their customers a good price + make a good profit: in the event of a claim on a bike with a non-E-marked exhaust, Equity will still have to pay out any liability to a third-party, but will then reject the policyholder's claim for damage to their own bike - thus significantly cutting their claim costs.

So, if you tell Carole Nash about your non-E-marked exhaust, they will most likely offer you an alternative, costlier policy with another insurer. If you don't tell them, then in the event of a claim on your own policy you've actually only got Third-Party cover, not Comprehensive. Is this a scam or what?

08-06-2007, 10:22 PM

Just re insured my policy with Equity red star as a standard bike(it does have carbon termis that I have not declared)

As far as I understand in the event of a claim they would only replace with standard cans,or could they take this as a get out clause and deem my insurane nul and void for the sake of some different end cans?

Martin C · 09-06-2007, 12:15 AM

Quote:

Originally Posted by bod

Just re insured my policy with Equity red star as a standard bike(it does have carbon termis that I have not declared)

As far as I understand in the event of a claim they would only replace with standard cans,or could they take this as a get out clause and deem my insurane nul and void for the sake of some different end cans?

If you're insured with Equity via Carole Nash, then apparently they would indeed use it as a "get-out". If you're insured with them via another broker, then I suggest you check with them.

jerry · 09-06-2007, 05:16 AM

Carole Nash, expensive and crap , with lots of weasel words, I use Ducati insure , in Thailand I dont insure the S4 as its not available

jerry

08-06-2007, 05:34 PM	#1
Martin C Bronze Member Join Date: Jun 2006 Location: Burton on Trent Bike: M900 Posts: 248	Insurance: is yours valid? I've had a Carole Nash Custom policy with Equity Red Star for 5 x years (originally covering my "modern" 612cc Royal Enfield Bullet GT Cafe-Racer, and subsequently a "classic" Moto Guzzi, a Monster 900, & recently an ST4 as well) and previously had to list all modifications to the Bullet on a separate form & provide pictures of it for their underwriters. Calling CN to renew my policy this week, I mentioned the non-E-marked (Viper) cans on the Monster, and they said "the bike is not covered, and any claim would have been thrown out immediately". I pointed out the Bullet has a "Goldstar type" silencer that I had listed years ago, and they said in that case if it wasn't E-marked (it's not) thenthe Bullet also wasn't ever covered! They said I should have told them about any non-E-marked exhaust, although they never specifically asked me about this. (The 1986 Guzzi is borderline for needing E-marked exhausts, and has Lanfranconis stamped with "competition use only" - in Italian which my local MOT tester doesnt understand!) All my silencers have passed recent MOTs with no problem, but Equity Red Star via Carole Nash are only happy with E-markings. However, via other brokers (e.g. Ducati Insurance) Equity WILL cover a bike with non-E-marked exhausts (albeit they'll only pay for replacement standard ones), so it is clearly NOT a legal or underwriting issue that's at stake. This is a common modification so you might expect CN to pro-actively ask the question before insuring any bike: but they don't! Why not? I suspect that Equity probably gives CN a rock-bottom deal, enabling CN to offer their customers a good price + make a good profit: in the event of a claim on a bike with a non-E-marked exhaust, Equity will still have to pay out any liability to a third-party, but will then reject the policyholder's claim for damage to their own bike - thus significantly cutting their claim costs. So, if you tell Carole Nash about your non-E-marked exhaust, they will most likely offer you an alternative, costlier policy with another insurer. If you don't tell them, then in the event of a claim on your own policy you've actually only got Third-Party cover, not Comprehensive. Is this a scam or what? __________________ Owning a Monsta is not the beginning of the end, but it may well be the end of the beginning....

09-06-2007, 05:16 AM	#4
jerry Old Git Join Date: May 2006 Location: Cricklade Bike: Multiple Monsters Posts: 2,831	Carole Nash, expensive and crap , with lots of weasel words, I use Ducati insure , in Thailand I dont insure the S4 as its not available jerry __________________ MONSTERMAN Last edited by jerry; 09-06-2007 at 05:16 AM.. Reason: bad spelling

08-06-2007, 10:22 PM	#2
bod Guest Posts: n/a	Just re insured my policy with Equity red star as a standard bike(it does have carbon termis that I have not declared) As far as I understand in the event of a claim they would only replace with standard cans,or could they take this as a get out clause and deem my insurane nul and void for the sake of some different end cans?