insurance

[Jonny491]

Hi guys, last year when I got insured on my 125 it was £220 and I only had 1 years no claims bonus now this year I've got 2 years no claims bonus and my renewal is £626.

I'm just wondering how is this possible surly it would be cheaper?
Any help would be appreicated
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Honda cbr 125 2006- Sold, Current 2012 yamaha XJ6N

[notbike]

Were you £220 on TPO/TPFT, and now they're quoting you on fully comp?

Could that be a possibility or something similar?

[Jonny491]

First year was TPFT and the renewal price is the same
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Honda cbr 125 2006- Sold, Current 2012 yamaha XJ6N

[andy_uk]

Same thing happened to me with the bike and the cars...I just shop around each year.
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Aprilia Classic 125, GS500E, ER5-A1, ER5-C4, ER6 & an XJ6 project frame...

[-Matt-]

Seems with insurance anything is possible

They do seem to quite often hike up renewals though in the hope you're just too oblivious or lazy to bother looking elsewhere.

Check out www.thebikeinsurer.co.uk if you haven't already theres other comparison sites but they seem to be quite good in a lot of peoples experience.

[Rogerborg]

[Jonny491]

Yeah I usually use the bikeinsurer and even just now I've looked on there and the price is around £460 so still like double the first year. ..
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Honda cbr 125 2006- Sold, Current 2012 yamaha XJ6N

[Vincent]

I can't remember when I last used the same insurance company for more than one year running...... some people must be, otherwise they wouldn't try it on
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Space Is Deep

[dolly3900]

[rubyhorse2]

i dont think we will ever know how insurers work out their pricing, it certainly makes no sense.

This has happened to me in the past. Only advise is change the info when your filling in the compare site (making sure its still correct) and see how that changes the price.

One year is was cheaper for me to park bike on the street than in my garage...go figure.

also, ALWAYS ring the insurer and never just click buy, they will always do it cheaper.

[Monkeypony]

Never just renew based on your existing insurers quote.

You'll always save money by shopping around, even if you end up back with the same insurer but as a new customer, with a new introductory discount.
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Current bike - 2018 H2-SX, 2004 SV1000s, 2016 Aprilia RSV4 RF, 2017 Sherco SERF 300, 2003 Suzuki DRZ400 (stolen - AY53 JUU)

[1198]

Insurers offer discounts for year one to attract customers then ramp it up after hoping (knowing) people can't be arsed to check around, and settle for an easy option.
The standard auto renewal scam certainly helps them in this in my opinion!

[P.]

Always re-enter your details on thebikeinsurer.co.uk and see what you can get insurance for.

Renewal quoted me £95 on my Jog R, shopping around got under £50.

[Pol Anorl]

i must of been lucky, been with swinton for the past 3 years and ive always cancelled auto renewal before its up but they've still always given the cheapest quotes.
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[chris-red]

My first years car insurance (with admiral) was ~£850. When the renewal came they offered me ~£800.

I shopped around and founder that Diamond were cheapest with a price of ~£400.

I rang Admiral to tell them to stuff it. I said "I'm up for renewal and I want to make sure you aren't going to renew because I have been given a much cheaper price"

She asked if I wanted to do a quote to see if Admiral could beat it I told her not to bother as the better quote is half what they offered. She then asked what company had given the quote I told her.

She said "Oh Diamond are our sister company I can just transfer that quote and do it through Admiral."

Why didn't you offer me ~£400 in my renewal then? He exact words were "Oh it doesn't work like that"

I wish I had turned around and said, "actually you can both stuff it, I don't like the underhanded way you are dealing, if you wanted to keep my business you should have offered me £400 to start with" but they were the cheapest
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Well, you know what they say. If you want to save the world, you have to push a few old ladies down the stairs.
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[Ste]

Use price comparison sites to find the cheapest and then click through a cashback website when actually buying the policy.

[stinkwheel]

My question would be at what point does this stop being a "commercial practice" and become price gouging?

Maybe an increase in complaints to the Financial Conduct Authority quoting specific instances if this as an unfair trading practice (especially with the increasing numbers of "auto renew" clauses) might get something done about it? The laws are in place to allow this to be dealt with, the regulator just has to decide it's worthy of action.

To me it's no different to the power companies moving people onto excessively high tarriffs when their contract runs out. Something which is currently in the process of being stamped on by the regulator.
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“Rule one: Always stick around for one more drink. That's when things happen. That's when you find out everything you want to know.”
I did the 2010 Round Britain Rally on my 350 Bullet. 89 landmarks, 3 months, 9,500 miles.

[Ste]

It's a laziness penalty.

[Twofish]

Because they are money-grabbing, pedantic, backtracking, nit-picking pillocks. Shop around, and around, and then check the details twenty times because they like to change those between your entries on the comparison website and the insurer's own website

More angry than usual at 'insurance' because yesterday I needed to change my bike three months into a policy with Bennetts.

So, original policy cost £490 all-singing all-dancing everything included plus business class one. I change the bike for a lower insurance group one, Bennetts said 'that'll be an extra £110 plus something or other to do that'. Which takes it to £600 for the year.

I did what most self-respecting relatively poor bike owner would do, I went mental and started giving the poor girl a furious lecture about the whole money-grabbing mentality of insurance companies and how Bennetts are supposed to be one of the better ones.

Anyway, long story, came off the phone with a new all-singing all-dancing policy for £280 and no cancellation fee for the old policy.

What if I'd just said 'oh dear, yes, I'll pay the extra £110'? I hate insurance because you have to complain before you get the good deals.

Sorry. Um, yes, shop around, phone them up and haggle. Don't just take the renewal quote

[Baffler186]

Same thing happened to me, but that price difference is huuuuge.

1. Make sure you cancel properly and get confirmation in writing that you have cancelled within the allotted time. Beware, as my policy expires on the 26th March but I have to inform them by 23rd in order that I'm not auto-renewed to a new policy that's £50 more than last year.

2. Go through Compare the Market. Get cheapest quote, get free Meercat Toy, sell toy on e-bay for anything up to £30. or collect all the toys and keep in original box, unopened. Wait for them to be worth tens of ponds in 20 year's time.
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Current: 2009 SV650 S, 1990 Kawasaki GT550
Previous: 2009 CBF125, 1998 GSF600, 2004 FZ6 Fazer, 1978 CB400a Hondamatic

[Musketeer]

[P.]

I live in the ghetto. Errrrmmm nothing odd declared so its stupidly cheap because they feel sorry for me

[Taught2BCauti...]

I am with Swintons, and even though they have switched my policy to different underwriters twice over the last 8 years, they always give me lower prices than any comparison site.
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Honda Varadero XL125(V8)
www.TheFutureIsHere.eu

[Musketeer]

[daffy]