Seasonal bike insurance...helpful or not worth considering

[Brycey]

Hi all,

Doing a little bit of market research for an insurance company and I would like to gather your thoughts around a new type of insurance.

Here goes: You purchase your annual bike insurance in the same way (monthly or annually) but instead of the policy running for 1 year it runs for 3 years and allows you to activate and deactivate your 365 days over the course of 3 years. The days the policy is deactivated the insurance will still cover you for fire and theft. The activation will last a minimum of 24 hours and can be activated and deactivated for however many days, weeks or months using your mobile device. First of all would this be something you would be interested in; yes or no. If you can provide any feedback or things to consider that would be a great help.

I thought this would apply to those that used their bikes seasonally or just for pleasure and would be a great way to reduce insurance premiums, I'd be interested to hear of any other thoughts or ways to help plug this gap.

[Pol Anorl]

This sounds interesting tbh, but at the same time a pain in the ass, calling up constantly to activate and deactivate, forgetting to activate and being uninsured.
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[jackw72]

My thoughts,

This would need to be more flexible. I tend to only use bikes march - september so what would be awesome is if on a daily/weekly/monthly basis I could say whether or not I need the bike to be insured for the day.

It could work like a pay as you go credit system, so you pay £xxx a year and can use it for so many days of that year. It would need to be flexible as Chinese gymnasts however, this is achievable via phone app or similar. Legally it maybe pretty difficult to get round though.
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[Brycey]

Hi, thank you for your feedback. I should have added that this turn on and turn off feature will use mobile devices such as smart phones, tablets, laptops or desktops to do at the click of a button. It would take a matter of seconds to activate / deactivate with an up to date overview of days remaining.

[Derivative]

As a uni student this would be great (I ride rarely, if ever, during term time).

But you will need to make it price competitive.

If the 365 days over three years cost 1.5x my normal annual premium (or less), great.
If they cost 2x or more, then NCB and similar will mean I'd have been better off just getting a standard policy.

[Scythe]

Sounds like it could be an idea. However as a young rider (nearly 21), every single bit of NCB is helpful for me.


Due to that I probably wouldn't use it, but someone like my dad would where the cost of insurance is small that 1 extra year of NCB wouldn't make a great deal of difference.
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[weasley]

How does this stack up against the continuous insurance enforcement? I assume this requires third party cover to be in place unless the bike is declared SORN, so not only would I have to activate and deactivate the insurance, I'd have to declare and undeclared SORN...?
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[Derivative]

[smithyithy]

Pay As You Go insurance could be great if properly orchestrated

[anthony_r6]

[Derivative]

[weasley]

[Klaus]

Seasonal bike insurance is a good idea, considering the fact that we currently pay for 12 months when it is almost impossible to use our bikes all year round. I do not use my bike much for commuting, mainly for fun so i can understand the benefits of this type of insurance...

[BigDan1190]

Will you have 3 years NCB at the end of it, or 1?

[Tungtvann]

How much cheaper could my bike insurance really be?

[J.M.]

Personally I wouldn't use the above service as I ride all year round. I could see it being good for seasonal riders though.

The insurance that I would really like to see though would be one that covers the rider at a reasonable price and lets them ride any bike they like. Insured or uninsured. It seems kind of silly to me that the same rider could insure something like a Bandit 1200 for £400 or an R1 for £6000... when it's the same rider who will ride both bikes with the same style and same observation skills. Yes, I understand that insurance is done on statistics... no need to lecture me anybody. It just seems funny in my mind!

[Irn-Bru]

Not worth risking 6 points if you forget to activate it. Plus, wouldn't want to be locked into a 3 year contract either..!
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[UrbanRacer]

Sounds like a great idea in theory but ALL insurance companies are scheming under hand bastards, the cost wouldn't be worth it and i bet they wouldn't allow an NCB increment.

[Bendy]

The requirement for a taxes bike to be insured would be the kicker here. Assuming there was a way around that, it isn't a terrible idea, but I think the market would really only be the folks with expensive insurance. Mine's too cheap to be bothered about trying not to pay it if I'm not using the bike.

I'd be far more interested in a 6 wheel policy that covers my car and bike together, since I can only be using one of them at a time.

[pits]

Sounds like far too much effort to me, and no doubt as insurance companies go it will seem like good value, but no doubt you will end up getting royally fucking shafted, event of claim or anything else.

They can't even get policy that you have asked for right, let alone orchestrate a 3 year random day insurance scheme, I don't even trust them to seal an envelope.
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[Hetzer]

[sickpup]

Sounds to me like a student making up ideas that cannot be used due to the way the law is written, does anyone seriously think this is really being done on behalf of an insurance company?

[Hetzer]

[MarJay]

It used to be common but since the law was changed it's about as useful as a chocolate fireguard. On a motorbike.
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[J0Al1]

Just renewed mine having had it SORN and uninsured since end of Sept.

New company have been bugging me about who insured it during this lul and where it was kept.

With insurance companies tightning up massivly on detail. . . ie i had to declare my garage as wooden because it is a shed, there is no option for shed on the insurance docs. . . Plus they wante dmy milage reading.

Its going to be a right pain in the arse renewing.

Nice idea in theory . . .