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pompousporcup... |
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pompousporcup... World Chat Champion
Joined: 15 Apr 2015 Karma :
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Posted: 10:33 - 21 Mar 2019 Post subject: Insurance costs |
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I'm interested to know what people generally pay for their insurance, specifically on 1000cc bikes
For the last few years i have been insuring bikes on classic policies and am now looking to get something newer and am shocked by how much companies want to insure an 2001 r1 (30 something, been riding 4 years and live in a decent area, not made a claim in over 10 years)
£100 per month is what i paid as a teenager!!
Edit: Insurance is stoooopid. I just changed 2001 to 1999 and it went down to £100 a year |
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Baffler186 |
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Baffler186 World Chat Champion
Joined: 31 May 2013 Karma :
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Ste |
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Ste Not Work Safe
Joined: 01 Sep 2002 Karma :
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Posted: 12:11 - 21 Mar 2019 Post subject: Re: Insurance costs |
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That's not stupid, it's something to use to your advantage.
When shopping around for insurance, it's important to not make any assumptions and to play around with all the variables. Their big table of statistics which quotes are based on will throw up anomalies occasionally and there's nothing wrong with taking of advantage if the anomaly is in your favour. |
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Baffler186 |
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Baffler186 World Chat Champion
Joined: 31 May 2013 Karma :
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Posted: 17:21 - 21 Mar 2019 Post subject: |
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True story, to back up Ste's words:
My nephew just turned 17, his dad was comparing cars for insurance purposes. All the "small" cars, even low value bangers, were predictably coming up at £1800 +
His mate then offered him a 20 year old 2.0 diesel (I forget the model)....they punched in the reg and they got a quote for £300.
It's all to do with stats, because so many youngsters buy 1L cars, that means that a lot of them get into crashes or scrapes. And all because most people select the right car first, then try to insure it. A smarter way would be to do it the other way around - find a car that's cheap to insure then go looking for one. ____________________ Current: 2009 SV650 S, 1990 Kawasaki GT550
Previous: 2009 CBF125, 1998 GSF600, 2004 FZ6 Fazer, 1978 CB400a Hondamatic |
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ThunderGuts |
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ThunderGuts World Chat Champion
Joined: 13 Nov 2018 Karma :
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MEM62 |
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MEM62 L Plate Warrior
Joined: 21 Aug 2018 Karma :
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pompousporcup... |
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pompousporcup... World Chat Champion
Joined: 15 Apr 2015 Karma :
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Posted: 15:58 - 22 Mar 2019 Post subject: |
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well it seems declaring ncb and going for an older model made all the difference. I tend not to declare ncd as ive had insurance cancelled mid trip before due to them failing to notify me that i needed to prove the ncd. I'll never use 'Be Wiser' again for that reason.
I wanted a 2001 r1, but ive gone for a 99 just on the insurance alone. the additional £800 on insurance didn't offset the cost of buying a more expensive 99 model /shrug
~£200 a year fully comp
I pick it up tomorrow after the gpz900, i'm not quite sure what to expect of the R1 |
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Easy-X |
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Easy-X Super Spammer
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yen_powell |
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yen_powell World Chat Champion
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MarJay |
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MarJay But it's British!
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P. Red Rocket
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yen_powell World Chat Champion
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.Chris. World Chat Champion
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ThatDippyTwat |
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ThatDippyTwat World Chat Champion
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Travis Bickle |
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Travis Bickle Banned
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Posted: 07:28 - 24 Mar 2019 Post subject: |
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Travis Bickle |
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Travis Bickle Banned
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Posted: 07:30 - 24 Mar 2019 Post subject: |
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Travis Bickle |
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Travis Bickle Banned
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Posted: 07:42 - 24 Mar 2019 Post subject: Re: Insurance costs |
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Ste wrote: |
That's not stupid, it's something to use to your advantage.
When shopping around for insurance, it's important to not make any assumptions and to play around with all the variables. Their big table of statistics which quotes are based on will throw up anomalies occasionally and there's nothing wrong with taking of advantage if the anomaly is in your favour. |
This. I got playing around with my insurance on comparethemarket.com for my 1989 CBR1000F.
SDP+C came up cheaper than SDP.
TP+FT came up cheaper than TP only.
Originally got quotes for 1,000 miles. Found the cheapest insurer. Went back and changed mileage to 10,000. It went up slightly (by about £10 or £20). Went back and changed it to 9,000 and the price went back down to the same as it was when I entered 1,000 so I left it at 9,000 (even though I think 5,000 miles is probably sufficient, as Ste wrote, if the anomalies are in your favour you might as well take them).
34yo
Held licence less than a year
Obviously no NCD
6 points for a single speeding offence
Taxi driver as main occupation which usually increases premium
SDPC TPFT with pillion cover
Got it for £327.70 with Brightside
I thought that was reasonable for me on a CBR1000F as the next cheapest was in the £400s and all the others were in excess of £700/£800.
My existing insurance with Hastings Direct for my YBR125 wouldn't even give me a price to swap. That's fine, I can live with that, but when I later tried to swap it to a CBR250R just to get it home from Wolverhampton they wouldn't even insure me on that either!!! Just goes to show how wide the gulf is between some insurers. One gives me a reasonable price on a 1000cc. Another won't even entertain the notion of insuring me on a 250cc???!!!
I've ended up keeping the insurance running on the YBR and will be adding my dad to the policy as an additional driver (as he'll be borrowing it until September when my son is 17) as it's only £10 per month and even if they double it by putting my dad on it should still be worth keeping active if only to get the NCD 6 months earlier (as otherwise I would have to wait until my Brightside insurance on the CBR1000F expires in April 2020). YBR policy expires in October, at which point I'll (hopefully) have 1 year NCD, at this point I may investigate whether I'll save money by cancelling Brightside on the CBR1000F and searching for a new policy on it at that time with 1 year NCD to add and having had the licence for over a year. ____________________ Must Go Faster
1999 Yamaha FZS600 Fazer |
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F18 |
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F18 Renault 5 Driver
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Freddyfruitba... |
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Freddyfruitba... World Chat Champion
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Travis Bickle |
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Travis Bickle Banned
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Posted: 19:53 - 24 Mar 2019 Post subject: Re: Insurance costs |
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TaffyTDM |
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TaffyTDM Spanner Monkey
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Posted: 20:01 - 24 Mar 2019 Post subject: |
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Nobby the Bastard |
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Nobby the Bastard Harley Gaydar
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Old Thread Alert!
The last post was made 5 years, 35 days ago. Instead of replying here, would creating a new thread be more useful? |
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