Insurance after full licence?

[thewhyoffry]

First of all, sorry if this is a double post, I have done a search and can't find any posts on this.

Getting a bit ahead of myself but I have just booked in a few days lessons and my module 1 for next week and I have just had a thought about my insurance...

I paid for the year in advance for the insurance on my Duke 125 and when I do get my full licence I will likely keep the duke until I have 1 years no claims before upgrading. Would the fact that I (will,) have a full licence effect my current insurance? I would imagine that it should drop down but you know what these companies are like...

Just wondering if anybody has experienced this before and what the outcome was? Did you get a refund on insurance (not likely I know!) or did you end up having to pay them more for updating your policy?

Thanks all

[waffles]

It depends on your insurance company so your best bet is to give them a ring and find out. When I passed my Mod 2 they swapped my policy from my 125 to my bigger bike and gave me a weeks additional cover on the other one so that I could tax it to sell it all for no extra fee. That was nearly four years ago though.

I guess you are seen as less of a risk if you go from cbt to licensed?
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Theory test - 19/8/09, CBT - 11/10/09, MOD 1 - 16/8/10, MOD 2 - 27/10/10
Past rides Yamaha XT125X, Triumph TT600, Honda XR250
Current rides Suzuki GSXR 600, Honda MSX125

[Quornholio]

[BG5067]

Some insurers might keep the price as it is until renewal majority I think will change it to a cheaper pricce.

Was amazed when I found out my ER6-F is cheaper to insure then the CBR125 and my Burgervan 125.
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Current. Kawasaki ZX9R.

Theory passed 17/01/2014. Mod 1 Passed 03/02/2014 (0 faults) Mod 2 10/02/2014 Passed (0 faults)

[clancy]

It depends what insurance company your with, ones which are set up specifically for learner drivers Will most likely increase your premium If you tell them

If your with an average insurance company it will most likely go down. In that case what will happen is you'll be refunded the difference but also charged an administration fee most likely

So say they need to refund you £100, administration fee is £20, they'll just refund you £80.

Best way to find out, ring your insurance company and just say your thinking of doing your test, could they tell you what the price difference is if you had a full licence. They'll just run you a new quote quickly and tell you. If its gonna go up, then don't tell them when you pass
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KLX 300r

[Spamalittle]

I took the view that passing your test is a 'change to your circumstances' and dutifully called my insurers (mce) when I passed mid-way through my paid-up 125cc policy. They said that my obtaining a full licence wouldn't affect the level of premium and if I wanted amended policy docs showing that I now held a cat A licence it would incur a £50 admin charge. Subsequently told them to do one*.

*which is blatantly bollocks - I politely stated "no ta, but if you could simply note my file as to my change of circumstances that would be marvellous, thanks awfully"

To be fair my premium didn't reduce by a heck of a lot when I renewed a few months later.

[BG5067]

[Rogerborg]

IIRC, we had one chap say that he had his insurance cancelled because his underwriter only covers Learners.

I was with eBike when I passed and so could see online that it would cost me nothing to change that information.

With a phone-and-ask company, then unless I were changing bike or address, or likely to be on the motorway or taking a pillion, I expect I wouldn't bother. What I might do is send a postcard to the broker just to get a proof of postage.

Course I told you, in writing. Balance of probability is that it arrived.
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Biking is 1/20th as dangerous as horse riding.
GONE: HN125-8, LF-250B, GPz 305, GPZ 500S, Burgman 400 // RIDING: F650GS (800 twin), Royal Enfield Bullet Electra 500 AVL, Ninja 250R because racebike

[sidewinder]

When I passed mod2 my insurance company kept my insurance price the same for the remainder of the policy.but deducted what I would of saved of the next years policy.this was with with the other pass reduction to. So policy was £220 on l plates the reduction I would of got was £50. So basically I got 2x £50 of my £220 policy which made the renewal £100. Hope that made sense

[Screw Loose]

When I passed my Mod 2 (only on a 125 license though ) I rang my insurance company to declare it. The bloke told me he can update it but there will be a 30 quid admin fee

He went to speak to his manager who said it didnt make any difference and told me that we will both pretend the call never happened.
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MBK Nitro 50cc -> CBF 125 <\s>
CBT: February 2012 - Full licence August 2013

[aidy_b]

I rang my insurance company to tell them I had now passed my test when I got a renewal notice.
It reduced the quote by £10, although that also included dropping the value of my bike by £500, so probably made no difference at all.

You'll probably save more money waiting to renew and going on a comparison website.

[thewhyoffry]

Cheers all for the replies, seems very hit and miss what I was expecting with these vultures.

I will give them a bell and give them ask what will happen to the policy in theory and see what they say. If it goes up I will keep it stum and wait for the couple of months.

What I can't understand is insurance 3rdF&F was 800 on the duke, been quoted £430 for a 2014 er6n (subject to full licence and 1 years no claims).

I will drop a post with what the company say tomorrow for anybody interested! I am with wickedquotes who are underwritten by LV I believe.

[Baffler186]

[thewhyoffry]

Just got off the phone to 'wickedquotes' who I bought the insurance from. It never clicked that they are just a comparison company who happened to be the best quote at the time of getting the Duke. My actual insurance company are 'Highway - Part of Liverpool Victoria'

Had a good chat with a bloke who was honest (which makes a change!) and he looked into it and told me that if I were to update my licence status from CBT to full licence then I would end up paying them extra money for the pleasure of updating the system so advised me to keep it to myself until the renewal is up.

Also advised to keep the insurance until April (even if I sell the bike before hand,) to get the 1 years no claims then the no claims is valid for 2 years if not used. I know that is likely widely known but for a noobie like myself I did not realise that you get two years to use a no claims bonus before it becomes invalid.

SO i think the plan is (subject to passing in the next couple of weeks,) get my licence... Keep it stum and sell the duke around April time then as soon as I have that magical 1 years NCB get myself a er6n

[Tyred]

I recently took out insurance with Swintons. During the process I told them that I was training towards a full licence and asked whether their £25 admin fee applied if I passed and would it affect the fee.Their reply was that they did not need to know if I passed and yes the £25 would apply.

I have now passed. I have not told them. THinking now I should have got the "we dont need to know if you passed" in writing!!
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Wish I could think of good signature

[Pete.]

It's very common with car policies because as a learner you have to be supervised. As a learner on a bike however you are at liberty to ride alone so there should be no increase in risk for that. The only things I can think of you can do on a 125 with a full license that you cannot as a learner is use a motorway and carry pillions. Carrying a pillion increases the risk to the insurer quite a lot I would say, so on that basis it would be reasonable to expect a higher premium.
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a.k.a 'Geri'

132.9mph off and walked away. Gear is good, gear is good, gear is very very good

[Rogerborg]

That is reasonable, thus my cautionary note about "likely to be on the motorway or taking a pillion". If you're doing the same trip on the same roads on the same bike then the only difference is that you're not sporting the L plates. In my experience and opinion, you're instantly safer (on the same bike in the same circumstances) the moment they're off.
____________________
Biking is 1/20th as dangerous as horse riding.
GONE: HN125-8, LF-250B, GPz 305, GPZ 500S, Burgman 400 // RIDING: F650GS (800 twin), Royal Enfield Bullet Electra 500 AVL, Ninja 250R because racebike

[dydey90]

Just a guess, but I'd say their risk calculation is purely based on the bike, so when you have a bike that has statistically been crashed ridden a lot by 17 year old fuckwits youngsters, it means there's a higher percentage of those bikes involved in crashes. I daresay a fine bike, ridden by a real man like an ER6 is involved in mostly no-fault SMIDSY incidents at no cost to your insurer.
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This post is probably not serious and shouldn't be taken literally.
Past: CBR125,ER6f NINJA 650, ZZR600 Current: VFR750

[thewhyoffry]

Yeah I can see what you mean about the type of bike and the people who would tend to ride them effecting the insurance. I still find it a bit insane that the insurance on the er6 is half that of a 125cc but hey, I'm not complaining! First ever try on a big bike Tuesday so hope I get along fine with it and don't cock up my module 1!

[Northern Monkey]

My insurance on my £125 was about £150 TPO,

I then went and passed my full test, and called the insurance company, and was asked how I would like to pay the extra £5 that my insurance going to cost now I had passed.