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NOC Insurance

Submitted by gavin_thomas1 on Thu, 06/07/2023
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NOC Riders Section

Dear All,

I just had a conversation with Peter James Insurance who now represent the NOC as our official insurers with regard to covering my 1976 Mk3 Commando. Their rates are very competitive. However, worth noting any machine with a potential value over £10k has to be independently verified. They advised I used the NOC to value the bike but it is my understanding the club does NOT provide such a service. So, if Peter James is collaborating with the NOC on such matters, why are they recomendting the club be the 'go to' point of reference? Market value can be very subjective, so any guidance as to whom to approach would be greatly appreciated.

Kind Regards Gavin Thomas

Submitted by richard_payne on Thu, 06/07/2023

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Are any Commandos actually fetching more than £10,000 in the UK these days ? My impression is that the market has softened considerably.

Submitted by philip_morrison on Fri, 07/07/2023

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I’ve just insured my bike with Peter James for an agreed value of £10k My previous policy with another insurance firm had an agreed value of £12k but as stated above, values have softened. Anyway, my point is Peter James allows you to keep your bike as salvage, free of charge over and above the agreed value. So unless my bike is stolen and never recovered the salvage retention will allow me to easily make up the £2k difference and probably more. 

Further to the above, my new policy with Peter James was almost £60 less than my renewal quote from my existing insurer and was completed in one 10 minute call.

Submitted by tony_ripley on Sun, 09/07/2023

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All insurance companies recommended contacting an owners club for agreed value insurance.

We do do this but it very much depends on the bike itself and how easy it is to estimate a value for insurance purposes only.

I am happy to provide such on the basis it is for insurance purposes only and not a potential price you would expect if it was sold.

Also it is only for fairly standard bikes, no specials, Tritons etc.

You will need to send me details of the machine along with a number of good clear photographs, plus any insurance company paperwork that requires signing.

Send to technical@ nortonownersclub.org

No guarantee that I will be able to provide a value or how many I will be able to do but let’s see how it goes.

Tony

 


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