Can someone explain this cos I'm baffled?

I sold my ZRX a few weeks back, and haven't found my next set of wheels. With the rally season coming up my mate Rocket offered to lend me one for a while. Sine my insurance was about to expire I rang Hastings up to ask what I needed to do. 
Here comes the mind boggling bit.....
If the bike was mine they would charge me £77 fully comp (and I could borrow and ride any bike), since it wasn't they need £768 for third party only!!!!!!!!!!!!!!!!!
Yes. I know we could put the bike into my name but that adds two extra keepers to the V5 and so affects the value of the bike.

I don't understand the thinking

G                                                                                                                                                                             

Wouldn't it be cheaper to buy a cheap bag of SH*TE bike and insure it without the intention of using it then borrow your mates bike???                                                                                                                                                                             

yus i see what ya mean Grey ... coudnt you have said you still have your ZRX and then you could have rode it on your own insurance... they are a law of their own insurance.   it dont seem to make sense tho to me!! or maybe its been a long day and its too complex for me to get me head round... either that or its bowlax!!                                                                                                                                                                             

Like the thinking BBZ, I may do that.                                                                                                                                                                             

talking about insurance companies, avoid aviva like the plague. they are con  men and liars                                                                                                                                                                             

Can you not go on your mates insurance Grey?                                                                                                                                                                             

It might be worth looking at how much they would charge you for a policy to ride any bike. A colleague of mine has a policy where he can ride any bike and it costs him £98 a year fully comp.   ut yes i agree insurance companies are knbs!                                                                                                                                                                             

Hey Busa, tell me more about Aviva. Carole Nash are currently trying to sell me a policy with Aviva for £185, fully comp on my 2 bikes compared with the £320 renewal with Equity Red Star also through Carol Nash. That would obviously be quite a saving but if you've had a bad experience with Aviva.....

OK, here's another oddity that I have just had spelled out to me by a broker while phoning around for a quote on my 2 bikes. Apperently, its ALLOT cheaper tp insure a classic bike (any bike over 25 years old) and add a modern bike to the policy than to insure a modern bike and add a classic bike  to that policy, and yet under both policies both bikes would be fully covered, go figure                                                                                                                                                                              

GreyGra knowingly making a false statement on an insurance form ie listing a bike you no longer own as yours will invalidate the insurance. The idea to try to get on your mates insurance for the bike is a good one. I currently have a mate on mine and after they ran the numbers it added exactly 15p for the year.

centurion most policies assume that the first bike you list is your main ride and the others are occasional rides.

  I was just about to say what Gloom has said, no point insuring a bike then riding another as any claim will be invalid and you may get prosecuted for making a flase declaration and claim.                                                                                                                                                                             

They won't let my mate put me onto the insurance as he has a multibike policy. The whole thing just seems ridiculous. Thanks for all the suggestions, I will let you know what solution I come up with.

G                                                                                                                                                                             

just to add and in response to Centurion phoning around.... go take a look at Moneysavingexpert.com - they have a few comparison things for bike insurance and give you the cheapest which you can then ring and see what htey do actually offer   i do think its worth checking out the above website for loads of stuff about money its a fantastic website on the consumers side for a change                                                                                                                                                                              

My solution is..............................................to go out and buy a new bike. ZZR 6 collected today. Woo hoo