Repercussions when a bike gets stolen

[cheb]

Following on from the chain thread. The bike isn't worth much, well under £2K at a guess, but it is desirable, it's an XR125L. If or when it gets stolen it's probably not worth claiming on any insurance. If the insurers aren't told but the police are then might that affect any future premiums?

I'm not sure there's much if any emotional attachment to the bike, just the inconvenience and disappointment. What else have I missed?

[westers151]

Taken from an insurance site: Yes you must disclose all accidents, incidents and thefts even when no claim was made. Insurers check various databases as part of their validation process and discovery of a previously undisclosed incident may invalidate your policy.

I'd say that having your bike stolen needs to be flagged, even if you don't claim, as it'll appear on some form of database (even if you don't tell the Police, if they find it and recover it, it'll probably be entered into their database and flagged as being yours).

Accidents like dropping your bike and suffering minor scuffs in theory should be reported. However if the only person it impacts is you, and all you need to do is replace a few levers/lights, nobody is going to be any the wiser, so it'd be a safe bet not to mention it.

[Horse]

This overlaps with the recent 'do I tell them about a crash'. IIRC the gist was that if you do, premium is loaded*. If you don't and they find out, you've lied to them and they could get uppity.

* my ins was loaded because Filly ha a no fault crash

[Skub]

All the databases are linked now,so if it's on record as nicked,then insurance companies have access to that information.

Maybe they won't check,but if something else happens and the non disclosure comes to light,then they have a get out clause.

The impact of not telling them could be worse than how it may or may not affect your premium. Telling the truth probably won't cost much,they just like to know shit.

[wheelnut]

Yes, you need to tell them unfortunately. Even if you have a prang which involves a TP but no claim is made.

[Yorick]

If the bike is involved in a crime or an accident, you'll be in deep doo doo if you haven't reported the theft.

[Yorick]

If the bike is involved in a crime or an accident, you'll be in deep doo doo if you haven't reported the theft.

Many years ago my RF900 was nicked outside work.
Next day it was used in an armed robbery. They crashed as it had a slow puncture which I had been inflating every morning.
I'm glad I'd reported it.

[dern]

Also what will you do with the v5? You can't mark it as sold or scrapped without a new keeper. When you claim on the insurance and they pay out you've effectively sold the bike (or the rights to it) to the insurance company. You definitely don't want it to remain in your name if it's been stolen.