Insurance questions

[D6]

Just getting insurance quotes. And wanted to know if the extras are worth it or money making ruses.

Legal protection and personal injury mainly. I can get both adding about 40 quid to my policy. But are they needed?

[Kwacky]

Legal is IMO. Court costs are expensive and the rules have been changed so you no longer recover your legal costs if you successfully defend your case.

[D6]

Thanks. I wasn't sure. I don't see why it can't all simply be part of your insurance. So everything is like for like.

The cheapest quote was actually one some way down the list once you had added legal and personal injury. As the cheap ones once you added them were more expensive then ones with it as standard.

Still waiting for the bike to be registered so I can sort insurance. Will call my current insurance company to see what they say too. Not sure if I add it to the policy or cancel and get a new one

[T.C.]

Until about 3 years ago when the rules changed, I would have advised people to avoid legal expenses insurance like the plague.

However these days my opinions have changed for a number of reasons which I will try and explain briefly.

Firstly, an insurer cannot force to you use a panel solicitor appointed by the insurer just because you have LEI. They used to, but when the law changed it was made quite clear that policy holders could instruct whover they wish and cover would remain in force.

Secondly, (and this is probably the main reason) is that unlike under a condional fee agreement (no win no fee) where a law firm can deduct up to 25% of your compensation as part of the success fee (this is as a result of another law change), with legal expenses policiies, no deduction can me made.

Thirdly, what you have to be carefull of is that if you do choose to use an insurance appointed solicitor who will simply be a number on a conveyor belt and 90% of personal injury claims are turned around as quickly as possible rather than being settled properly which has resulted in a massive rise in professional negligence cases against pane law firms, especially those owned by the insurers (the number sof which are increasing at a rapid rate of knots).

So legal expenses insurance is worht it these days.

Personal injury inurance is only worth having if you do not intend to make a personal injury claim against anyone because whatever gets paid out is usually deducted from your final settlement figure.

Hope that makes sense?

[D6]

Personal injury inurance is only worth having if you do not intend to make a personal injury claim against anyone because whatever gets paid out is usually deducted from your final settlement figure.

Hope that makes sense?

I didn't understand this bit. I was thinking personal cover in case a **** up and mess myself up.

I didn't understand the bit about deducting money from a settlement

[Kwacky]

If you crash and it's your fault - you can only claim from your own personal injury insurance.

If you crash and it's someone elses fault, you use solicitors to claim from the other person's insurance.

[D6]

Ah OK. So it's not deducted from what I also claim back for my. Bike or loss of earnings etc

[StMarks]

..Firstly, an insurer cannot force to you use a panel solicitor appointed by the insurer just because you have LEI. They used to, but when the law changed it was made quite clear that policy holders could instruct whover they wish and cover would remain in force.......

Does that mean that we can ask to appoint Kwacky.?
Sounds like a kickback opportunity.

[D6]

Hahhaha

[Kwacky]

..Firstly, an insurer cannot force to you use a panel solicitor appointed by the insurer just because you have LEI. They used to, but when the law changed it was made quite clear that policy holders could instruct whover they wish and cover would remain in force.......

Does that mean that we can ask to appoint Kwacky.?
Sounds like a kickback opportunity.

Only if you kill or nearly kill someone.

I don't mess about with petty cases

[StMarks]

.........Only if you kill or nearly kill someone.

I don't mess about with petty cases

Actually, I hadn't even thought of it from that perspective.!
I was thinking of those occasions when other road users endeavour to kill us, and those attempts involve damage to us & our bikes.

[Kwacky]

I only do defendant work for insurance companies.

If I'm on your side it means you're already up shit creek.

[StMarks]

I only do defendant work for insurance companies.

If I'm on your side it means you're already up shit creek.

With hindsite, I can see I could have realised that from those cases you've mentioned.

In which case, I dearly hope none of us ever need to ask our legal protection insurance to appoint you for us.!

[T.C.]

Personal injury inurance is only worth having if you do not intend to make a personal injury claim against anyone because whatever gets paid out is usually deducted from your final settlement figure.

Hope that makes sense?

I didn't understand this bit. I was thinking personal cover in case a **** up and mess myself up.

I didn't understand the bit about deducting money from a settlement

Sorry, I should have clarified.

As Kwacky rightly pointed out, I was referring to a situation where you are making a non fault claim against a third party. If the crash is your won fault that what I said about deductions does not apply.

..Firstly, an insurer cannot force to you use a panel solicitor appointed by the insurer just because you have LEI. They used to, but when the law changed it was made quite clear that policy holders could instruct whover they wish and cover would remain in force.......

Does that mean that we can ask to appoint Kwacky.?
Sounds like a kickback opportunity.

You can indeed instruct whoever you wish, but if you are injured in a crash it is recommended that you instruct someone who is familiar with handling and dealing with personal injury claims.

[Rossgo]

This is a really interesting thread. We don't tend to talk about this for insurances, we tend to talk about the price! I'll be sticking with all the added extras from my insurance from now on!

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