Any hope for bike theft victims?

[benb451]

I had my bike stolen a little more than a month ago and have been payed out by insurance the full value of the bike. I have since then agreed purchase and put a deposit down on a new bike which is a very similar model to my previous one (same make and engine size and also lower total value). My current insurer then refused to carry over the policy to this new bike since I now had a theft claim against my name and obviously did not give me a refund for my current policy due to a claim having been reported in the current period of insurance. I then went online to retrieve insurance quotes for the bike but only came back with a few figures: £2765.23, £4855.73, £8617.29 and £9677.80 with some going over the £10,000 mark. For reference, the bike is worth £7K I insured my previous bike of a slightly higher value for around £500 including a 2years no claims bonus. Obviously having lost the no claims and having a theft I was expecting the insurance to go up but not by over 5 times my previous premium. I have looked at insuring other similar sized motorbikes (600cc-799cc) but all are ridiculous prices.

My first question is: I'm sure insurance companies have the right to decline cover after a claim but this seems very unfair and discriminative of them after I have been a victim of a crime for which I have no responsibility. My bike was stolen away from home whilst I was at the gym by a gang of thieves who took at least 3 others bikes that night. Is there anything I can do or do I have any legal rights here?

Secondly, it also seems slightly ridiculous that speaking over the phone and going direct to insurance companies about my situation will not get me any further than going online to comparison sites. Is there any way I could talk to an underwriter directly and try and haggle over a respectable premium or is everything in the world of motorbike insurance based on software systems that calculate risk and issue quotes automatically? Are there any specialist insurers not based on this system?

My only options as I see them now are:
1. Do not own a motorbike and start using public transport (worst case scenario)
2. Find cheap insurance on an older smaller engine bike (not very keen)
3. Get 3rd party only insurance and fit a GPS tracker on the bike in the hopes that it can be recovered if stolen

I would be extremely grateful for any advice or recommendations

[Raksha]

your insurance is going to go up other then that i don't know.

have you passed ya full tests?
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Disclaimer: The above post was brought to you by bad spelling, murdered grammer, and no care or attention. Thank you.

[P.]

This is why I didn't claim and go through that hassle. Increased premiums overtook the value of the bike.

[grr666]

Where do you live? If full of thieving scum, then move somewhere else.
Address has the biggest impact on insurance IMO.
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Currently enjoying products from Ford, Mazda and Yamaha
Ste wrote: Avatars are fine, it's signatures that need turning off.

[CaNsA]

[benb451]

[Commuter_Tim]

[CaNsA]

[Ste]

[G]

And this is why I'm not a big fan of TPFT insurance in many cases - it can often be cheaper not to claim and just to buy a new bike than to make a claim.

[Rogerborg]

Sorry, OP, you be screwed. Bike thieves are creatures of habit, and insurers will assume that it was stolen from your address and they'll be back for whatever replaces it.

This sucks, it isn't right, but that's the way it is.

You might pm 'arry' and ask if there's any way that you can present your case in the most favourable light though.
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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

[G]

Or OP could consider if they really need such an expensive bike?

If it's a S1000RR, I can see you can't really get the same experience without spending £7k. Otherwise, don't see any need for such an expensive bike.

[CaNsA]

[Ribenapigeon]

What kind of bike was it?

[MattEMulsion]

Like it or not you are now classified as being a bad risk. You have had only two claim free years, then had a £7k bike stolen if I read your situation right. No insurer in their right mind will want to insure you, with the same circumstances for around £500 again with the enhanced risk of paying out another £7k in the near future. Its all based on statistics and having a theft claim (through no fault of your own) is a big negative. Sorry.
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Yamaha YZF-R6

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