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andyj88
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Ben90
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arry
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| JP7 |
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JP7
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| bob a |
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bob a
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JP7
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| Vracktal |
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Vracktal
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 Posted: 12:04 - 22 Sep 2014  Post subject: |
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| bob a wrote: | That is crazy, i would have thought it would have been better to insure with ABS - Mental |
With the right mental gymnastics, insurers can make anything higher or lower risk; e.g.
ABS reduces risk of lockup under emergency braking, therefore ABS reduces the chances of having an accident therefore lower quote
Dissent: ABS gives bikers a false sense of security, meaning they are more likely to ride outside their skillset and crash, therefore higher quote.
This works with anything.
Bikes with modified exhausts produce more power than stock, making them faster and therefore more likely to be in a crash. Additionally, when they are involved in crashes, the price to repair them with like-for-like modified parts is often higher than with a standard bike. Higher quote.
Dissent: Bikes with modified exhausts are more likely to be owned by riders who are aware of the limits of their bike, and as they've spent money modifying their bike they are more likely to have an attachment to it, want to take care of it, and thus ride more sensibly to protect their asset. Additionally, in the event of a claim these kinds of bikers are more likely to take a lump sum to repair the bike themselves, reducing settlement costs for bike hire and the like. Lower quote.
I once justified to an insurer why parking my bike on the street made it less likely to be stolen than in my garage, and it worked.
This is why insurers all rely on risk algorithms these days, no need to actually think if you can just point to some number-crunched statistics and say 'but the computer says...' It's also the reason you get strange situations where increasing your optional excess makes your quote rise instead of fall, and why fully comprehensive insurance quite often comes out cheaper than third party only.
____________________
2007 BMW R1200R: On road
2009 BMW G650X Challenge: On road
1975 Norton Commando 850: Off road, awaiting recommissioning |
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Old Thread Alert!
The last post was made 11 years, 177 days ago. Instead of replying here, would creating a new thread be more useful? |
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