Crazy Insurance Prices

[Fifteen15]

I passed my CBT, Mod 1 and Mod 2 a few weeks ago. I've never owned a bike before so I knew insurance prices were going to be high, but I didn't think they were going to be this high. I'm 19 with no NCB, 2 years driving experience with a clean license, live in an area with a very low crime rate, I will have the bike locked in a garage overnight and it will be restricted to 33bhp. With this in mind, TPFT with £500 voluntary excess for an SV650 K6 (worth £2000) is almost £900! Is there anyway I can bring this down a bit? I've thought about upping the security features which should bring the premium down a bit. Would it be worth getting a decent chain, or alarm? Or both? Baring in mind I'm more bothered about the insurance premium.

Also when I enter the registration number of an SV 06 bike, I'd get a quote of around £900, however if I keep everything the same, and enter the registration number of another SV 06 bike, I get a different quote, anywhere from £850 to £950. Why is this? It's practically the same bike.
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"Pain is weakness leaving the body, and blood makes the grass grow faster...but I'll wear my gear anyway"

[KDub]

Unfortunately insurance prices have gone up across the board; in 2009 when I bought my FZR it was about £400 for fully comp insurance, I was 19 at the time and had 1 years NCB. I re-insured this year; I can no longer afford fully comp insurance and Bennetts wanted about £50 a month for TPFT. I ended up going through Bike Sure and now pay £30 a month.

It's definitely worth ringing up insurance companies to see if they'll bring the price down, as they usually will.

Investing in a decent chain and disc lock is usually worth while, also, as a point of interest, what are you declaring mileage wise?

[Paulington]

You are still very high risk as you are <21/25 which along with 35-45 are the highest risk groups.

Try a quote with a Cat 1 alarm, a decent chain/ground anchor and such, they should help a fair bit.

Have you declared the 33bhp modification? If you have try not declaring it as some insurers skyrocket the price with it declared and whether you have to declare it or not is a bit of a grey area.

Failing that, try some advanced training! Do BikeSafe, that's free or do what I did and become a member of the IAM as that drops insurance by around 15%-20% which is significant enough to warrant it.

Insurance prices have skyrocketed in recent years because the current culture is more litigious than ever, which costs the insurance companies money they want to get back and make some money from, this coupled with the recession means bad news for consumers.

Without no claims, it's crazy but if you do the same quote with 1 year NCB it'd go from £900 to around £450-£500 as nowadays NCB makes a massive difference so work your hardest to not have an accident, fault or non-fault in your first year!

Hope that helps! !
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"Four wheels move the body, two wheels move the soul."
Current Vehicles: '89 Kawasaki KDX200, '99 Yamaha XV535, '00 Honda ST1100 Pan-European, '08 Suzuki GSX-R1000, '08 Mitsubishi Lancer GS4 2.0 TDCi, '15 BMW 1 Series 116d Sport Turbo.
CBT: 27/08/08. Theory: 04/09/09. Module 1: 16/09/09. Module 2: 01/10/09.

[P.addy]

That does seem excessively high...

I could (before 3 points and that) insure a 2004 SV for £180 FC

Are you using thebikeinsurer.co.uk

Nemo from here was getting quotes fr ~£400 for a B King.. thats a 1300cc bike

[Fifteen15]

[Jamie S]

[P.addy]

Insurance is a fiddle.

I used to be able to insure a GSXR1000 (Did quote for G's bike) for £650 TPFT.
Would have taken that had it been my bike and needing insurance.

Now they are looking for about £1200

SV's and Bandits, seem DAMN cheap to insure.

My 125 on a full licence, 3 points and declaring 8 claims (others fall outside of the 3 years insurance want) with bike kept on street with alarm and chain is £90 a year

[Fifteen15]

[Fleszka]

I'm fairly sure https://www.thebikeinsurer.co.uk/ give better quotes than GoCompare, though I may be mistaken I would think its worth a try.

[Teflon-Mike]

£900 for 33bhp 650?
OK, it's not going to set the world on fire; and that is an inordinate amount of money compared to price of the bike; but its mainly the risk of you doing damage they are covering.
How much would quote on similar performance car, say a Saxo GTi be?
Quotes for 125's for lads your age aren't all that much cheaper.
It's not 'rediculouse' compared to the rest of the market.
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My Webby'Tef's-tQ, loads of stuff about my bikes, my Land-Rovers, and the stuff I do with them!
Current Bikes:'Honda VF1000F' ;'CB750F2N' ;'CB125TD ( 6 3 of em!)'; 'Montesa Cota 248'. Learner FAQ's:= 'U want to Ride a Motorbike! Where Do U start?'

[Fifteen15]

[FerretFing]

One joy of being 40+...just insured a BMW F650 tpft for £12 with Swinton (after cashback deals)....my nephew who's 21 was pissed as he has to pay about £900...I said I'd rather be 21 again & pay the £900!

[Fleszka]

[Rogerborg]

[pinkyfloyd]

Be thankful you dont live in Northern Ireland. Would have cost you double that.

Oddly enough my sister has been driving cars for 10 years or so and has upgraded to a MPV due to her expanding family and her new insurance quote came in at more than the value of the car! And thats with full no claims.
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illuminateTHEmind wrote: I am just more evolved than most of you guys... this allows me to pick of things quickly which would have normally taken the common man years to master
Hockeystorm65:.well there are childish arguments...there are very childish arguments.....there are really stupid childish arguments and now there are......Pinkfloyd arguments!
Teflon-Mike:I think I agree with just about all Pinky has said.

[Angel Girl]

Have to say I think age is the huge factor. I've insured my Honda CB500S, first ever bike, not even got full licence yet, fully comp with other riders on, for £125

It's cos I is old

[SnowTigeress]

For my insurance being on a provisional licence its £123 full comp,just did a quote for having a full licence and its the same price...
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Real bikers build their own Renovated and Riding a 1986 Honda CB125TD-C called the Pup. Full Licence 13/09/2012, 1994 Moto Guzzi 750 Strada
Can-Do Girl that does spanners TOO!
TheSmiler: binning it is better than going around a roundabout the wrong way

[Rogerborg]

[Angel Girl]

[CB77]

It'll go down eventually - used to pay hundreds for my first few bikes when I just passed the old test. Now at the ripe old age of 33 I pay about £150 for a CBR600F, and just £60 for my old CB500 which I sold to a friend (CN gave ME a refund when I changed my policy from the CB500 to CBR1100!)

This is always TPFT though, as all my bikes are pretty old (apart from one), and if they got nicked or smashed up I'd just get another one or fix them with ebay parts.

[Paulington]

[SnowTigeress]

how do you get your ncb when yourve only just passed you bike tests?

I was just checking quotes on a guzzi v50 and that was £208 but where it asks what ncb you have it wont accept 1 years,because i havent had the licence for a year.
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Real bikers build their own Renovated and Riding a 1986 Honda CB125TD-C called the Pup. Full Licence 13/09/2012, 1994 Moto Guzzi 750 Strada
Can-Do Girl that does spanners TOO!
TheSmiler: binning it is better than going around a roundabout the wrong way

[P.addy]

[Wibbles]

Just a heads up, I turned 21 this year and I am taking my DAS course.

My insurance on my car started at around £1000 at 17 then dropped all the way to £320 when I hit 21, the bike quote for a Honda CB600F is £400 without license £320 with license.

It gets better as soon as you pass that 17-20 mark, even better after that

[Paulington]