So I have a situation.

My bike was stolen, recovered with police and tracker company 1h later.

Damage is minimal, as in lost my disc lock and tope yoke which I can get for 200 new or 100 used.

I have picked the vehicle up and rode it home.

Should I be declaring that to insurance company?

I do not want to make a claim as my compulsory theft excess is 150.

Bike is not stolen anymore and except licence plate marker police had no time to put it on any other database. Plate marker was removed.

If I do declare it my insurance premium will sky rocket by 40 to 50%

On top of that when I tried to make a quote for new insurance (example quote to see what happens) there is no option to declare incident as:

Theft, recovered, 0 damage and no claim made.

For theft they only have:

- Theft

- Claim made against my insurance or other (I am not making claim)

- Value of claim (there is no value had no claim)

- % recovered 0 to 100 (there is none made no claim)

As they do not provide option to declare details of incident as it happened should I report it in 1st place?

Speak to your Insurers to notify of incident only. If you don't, then if the bike is stolen again and not recovered, you might get into difficulty with the claim. This incident is relevant to risk and will affect premium from renewal.

Speak to your Insurers to notify of incident only. If you don't, then if the bike is stolen again and not recovered, you might get into difficulty with the claim. This incident is relevant to risk and will affect premium from renewal.

I know they will say that but how will it increase risk?

If I start using my other bike surely risk drops to same level as it was never stolen, or if I sell the stolen one and buy another. Maybe just park in bey on another street?

It's a [problem] I have done no cost to them they should not be able to do me on one?

Finally what am I then to do at renewal after reporting. No insurance company has option for theft not claimed. Is it OK to lie then?

I know they will say that but how will it increase risk?

If I start using my other bike surely risk drops to same level as it was never stolen, or if I sell the stolen one and buy another. Maybe just park in bey on another street?

It's a **** I have done no cost to them they should not be able to do me on one?

 

Finally what am I then to do at renewal after reporting. No insurance company has option for theft not claimed. Is it OK to lie then?

I don't make the rules.

Read your policy terms about reporting requirements.

At the end of the day, it is your risk, if you don't report. I can only warn you that if you don't report it and Insurers find out about it later, that the Insurers could try to avoid paying out for another theft.

It is just an incident where you have not needed to claim, because the bike was recoverded.

As a extra note to the comments above, I had a bike stolen which had being fitted with a tracker, I notified the police soon as realised it had been taken/stolen, there gave me report/theft crime number and left it at that, explaining that the bike was fitted with a tracker what could be done, officer stated police didn't have the resources to follow up on bike theft, We ourselves kept track of where the bike was every day for three weeks, informing the police all the time of the bikes where about's, STILL the police didn't bother to act.... The bike was then moved across the border into another police forces borough, and low and behold soon as I contacted that police force, there visited me and took all the details, within 3 hours that force had gone and got the bike back, the person that stole the bike was well known within the forces area, and had a zero tolerance policy on bike theft, where MY OWN police force borough didn't care at all... At the start I contacted my insurance company, who placed a maker on my claim that there was a chance the bike could be recovered and this was to just to report the theft NOT a actual claim been made as yet. On getting the bike recovered, I again contacted my insurance company, and there closed the case with no claim made, and my following years premium hasn't increased....

Whom was your insurance company shywazz?