Morning All
At the last Mid Glos VOC meeting, Peter Barker raised a question regarding insurance cover provided by RH Classic / Equity Red Star in respect of the machine being garaged while at your home address. My renewal has just come through with the same endorsement on that Peter was querying.
It is normal for insurers to ask where you keep your machine during the hours of 10pm until 6am when you are at your home address and if you say in a locked garage, then this gives a premium reduction and forms part of the policy ie if it is stolen from your drive at midnight then they would not pay, however, if it was stolen from your locked garage at midnight as per your declaration, then they would pay. I am sure we are all familiar with this situation.
BE WARNED! As per Peter’s original query, RH Classic / Equity Red Star have extended their clause to anytime 24/7 at your home address. I have called them to clarify if it is correct and they confirmed without hesitation that it was. They stated “if you returned from a ride on your motorcycle and parked it on the drive or road by your house at anytime of the day, then went inside your house to take off your riding gear and allow the bike to cool down for 5 minutes, if the bike was stolen there would be no theft cover in place. You would need to ride your bike straight into the garage and lock the door to retain cover” they also confirmed that if you were tinkering with your bike on the drive and you went to get some tools, again, if it was stolen then there would be no theft cover.
This obviously only applies to your home address if you declared that the bike would be stored in a locked garage whilst at your home address.
I for one will not be renewing my policy with them due to this unrealistic endorsement and have looked at several other providers this morning. Interestingly, Hagerty Classic have provided a better quote for a multi bike policy, albeit with a bigger excess and they do stipulate the standard 10pm to 6am restriction.
So thanks to Peter for raising the issue, worryingly, the endorsement has been on my policy for 2 years and I hadn’t noticed the slight change they had made!
Regards
Chris Smart
At the last Mid Glos VOC meeting, Peter Barker raised a question regarding insurance cover provided by RH Classic / Equity Red Star in respect of the machine being garaged while at your home address. My renewal has just come through with the same endorsement on that Peter was querying.
It is normal for insurers to ask where you keep your machine during the hours of 10pm until 6am when you are at your home address and if you say in a locked garage, then this gives a premium reduction and forms part of the policy ie if it is stolen from your drive at midnight then they would not pay, however, if it was stolen from your locked garage at midnight as per your declaration, then they would pay. I am sure we are all familiar with this situation.
BE WARNED! As per Peter’s original query, RH Classic / Equity Red Star have extended their clause to anytime 24/7 at your home address. I have called them to clarify if it is correct and they confirmed without hesitation that it was. They stated “if you returned from a ride on your motorcycle and parked it on the drive or road by your house at anytime of the day, then went inside your house to take off your riding gear and allow the bike to cool down for 5 minutes, if the bike was stolen there would be no theft cover in place. You would need to ride your bike straight into the garage and lock the door to retain cover” they also confirmed that if you were tinkering with your bike on the drive and you went to get some tools, again, if it was stolen then there would be no theft cover.
This obviously only applies to your home address if you declared that the bike would be stored in a locked garage whilst at your home address.
I for one will not be renewing my policy with them due to this unrealistic endorsement and have looked at several other providers this morning. Interestingly, Hagerty Classic have provided a better quote for a multi bike policy, albeit with a bigger excess and they do stipulate the standard 10pm to 6am restriction.
So thanks to Peter for raising the issue, worryingly, the endorsement has been on my policy for 2 years and I hadn’t noticed the slight change they had made!
Regards
Chris Smart