Stolen Bike - Bespoke Insurance?

Straker · Renault 5 Driver Joined: 08 Oct 2009 Karma :

Bike stolen a couple of weeks ago (Triumph Street Triple). Now looking for replacement but insurance has rocketed by around 400%. Doesn't seem right to me that I am penalised for having my bike stolen. Doesn't make it any more or less likely to happen again in the future. Have to go third party only which you would think should take away any penalty for previous theft but it doesn't.

Does anyone know of any insurer that actually sensibly looks at rider history on an individual basis when calculating premiums? Or do they all just plug the numbers into the computer regardless of the types of incidents that have occurred?
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Current: CBR 900 RR3 (954 Blade)
Previous: CBR 600 FY (01),
09 Triumph Street Triple R (nicked), R6 (04), CBR 600 FX (00), GPZ 305 (lol)

Hetzer · Super Spammer Joined: 19 Feb 2007 Karma :

This is one of the main reasons why insurance is a criminal fraud and why it should be taken over by the government. You're not insured against theft if they raise your premiums to the extent that you pay back, in penalties, the amount they gave you to cover your loss. Effectively you're getting your loss amount on hire-purchase, because you have to pay it back via increased premiums. It's a blatant scam.
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"There's the horizon! Ride hard, ride fast and cut down all who stand in your way!"