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wristjob
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PostPosted: 21:08 - 12 Mar 2023    Post subject: insurance Reply with quote

just got my quote for renewal from mce/
i thought i was getting ripped off paying £160 pa for a garaged 5000 mile a year bike with no convictions.
this years quote is over double that.
its aworld gone mad!
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weasley
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PostPosted: 08:41 - 13 Mar 2023    Post subject: Reply with quote

On the other hand my 4000 mile/year, garaged, no convictions insurance dropped from around £160 to £125 this year.
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Rob Fzs
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PostPosted: 14:03 - 13 Mar 2023    Post subject: Reply with quote

mines come down , £70 fc for an SV1000, i thought i'd have to be 60 years old for a bike to be that cheap, not 30
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to v or not to v
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PostPosted: 20:44 - 13 Mar 2023    Post subject: Reply with quote

i shopped around and got a premium for almost half the price this year.
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Ste
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PostPosted: 22:24 - 13 Mar 2023    Post subject: Re: insurance Reply with quote

wristjob wrote:
this years quote is over double that.
its aworld gone mad!

That's the price of laziness. Wink
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MCN
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PostPosted: 13:45 - 16 Mar 2023    Post subject: Re: insurance Reply with quote

wristjob wrote:
just got my quote for renewal from mce/
i thought i was getting ripped off paying £160 pa for a garaged 5000 mile a year bike with no convictions.
this years quote is over double that.
its aworld gone mad!


Poo-Tin put the price of everything up after he invaded Ukraine.
The Cocky wee Cossack Kuhnt.

True story.
Every phuquer in business has jumped on the Russian war Promotions feast.

I ask these insurance brokers bastirts to justify the increase as I've not had a claim or wage increase in 6 years.
They don't give a flying fuk coz they do not reply to that enquiry.
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slowasyoulike
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Joined: 17 May 2021
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PostPosted: 21:12 - 16 Mar 2023    Post subject: Re: insurance Reply with quote

Ste wrote:
wristjob wrote:
this years quote is over double that.
its aworld gone mad!

That's the price of laziness. Wink


Normally I'd agree, but mine has come back at £81 which is a tenner less than last year!
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Hahadumball
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PostPosted: 08:31 - 17 Mar 2023    Post subject: Reply with quote

Cars are doing the same, I've gone from a type r to a far lower insurance group, my new insignia cost more to insure than my type r did and I'm insuring a mk2 tt for less, infact i was paying about the same for the TT and type R as im now paying on just the insignia.. until the renewal comes round in a few weeks when the TT shoots up too
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Tyke_
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PostPosted: 10:51 - 17 Mar 2023    Post subject: Reply with quote

no-one should just accept a price hike when the renewal comes up, shoparound, use an insurance price comparison website. if u find a cheaper quote but want to stay with your current insurers, get in touch with them saying i want to stay with u but u have to match the cheaper quote ive found. if they don't match it, fook em, go with someone else.
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Ayrton
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PostPosted: 11:45 - 17 Mar 2023    Post subject: Reply with quote

Even when the price goes down always check on a comparison site to see if it's cheaper. Takes like 3 minutes and a few times I have gotten a cheaper quote with the same insurer.

Anyway just had my renewal through yesterday and it's 20% cheaper Laughing
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Tierbirdy
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PostPosted: 12:48 - 18 Mar 2023    Post subject: Reply with quote

I dont understand how insurance companies get away with jacking the price up, I dont think Ive ever had a renewal quote come in at cheaper than the year before, always a good 10-20% higher, and same old excuses of "running costs have risen" "more claims last year" "inflation" "insurance premium tax gone up" etc Rolling Eyes

Who DOESNT shop around on comparison sites? Surely nobody believes theres any point in being a "loyal customer" (except seemingly my parents, who for some bizarre reason are still using AOL as thier ISP for the past 20 years and must be their only remaining customer in the UK) anymore as you get nothing for it. They must rely solely on old people, and absent minded people who simply forget and let it renew.

What also pisses me off is trying to change your vehicle mid-term and usually met with computer says no. Tried to switch my insurance from my MT09 to a FZ1 and got told "cant do it, all our underwriters are refusing to give a quote sorry we'll have to cancel your policy". Straight to a comparison website and the same company gave a quote for my FZ1 for about 1/3rd the price I was paying for the MT09 Rolling Eyes

There also seems to be some insurance companies, that I just dont understand how they continue to exist, even in my 30s with coming up to 15 years no claims & no points, some companies are still giving me utterly ludicrous quotes... like LV, I dont think Ive ever seen their quote on a comparison site for less than £2k, but then I know mates of mine who are with LV and swear theyre dirt cheap.
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Polarbear
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PostPosted: 13:29 - 18 Mar 2023    Post subject: Reply with quote

Yes, yes, It's the sun Puke but the article is by Martin Lewis.

DRIVING UP COSTS Martin Lewis issues urgent warning to anyone with car insurance – do you need to take action now?

https://www.thesun.co.uk/money/21737289/martin-lewis-warning-drivers-car-insurance/
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DUCAUDI
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PostPosted: 07:13 - 19 Mar 2023    Post subject: Reply with quote

Got quoted in excess of £3k for my new bike with 4 years NCD, no fault claims and no points. And that was the cheapest quote showing on a comparison website.

'Tweaked' the value down a bit and managed to get it for around £500.

I considered this a bargain Embarassed

Who TF is getting insurance for under £200?!



Tierbirdy wrote:
What also pisses me off is trying to change your vehicle mid-term and usually met with computer says no. Tried to switch my insurance from my MT09 to a FZ1 and got told "cant do it, all our underwriters are refusing to give a quote sorry we'll have to cancel your policy". Straight to a comparison website and the same company gave a quote for my FZ1 for about 1/3rd the price I was paying for the MT09 Rolling Eyes


I've seen this so much recently. My son's insurer wouldn't swap him from a Rebel 500 to a CBR500R (same bloody engine and power output!). I sold my MT-10 and bought a Multistrada and again - they won't swap the bike for me, I have to cancel the policy and start a new one. Which I refused to do! I told them to stick their new policy up their bum, took out another policy with someone else on a comparison website as cheap as possible by 'manipulating the data I entered as much as possible without outright lying' which I intend to cancel after 2 months when the other policy expires and I can use the extra NCD from that policy and re-start it.

The whole thing about mid term adjustments, not being able to change to a similar bike, being told to cancel and re-start or getting arserammed on an additional premium or losing NCDs for incomplete years is nothing short of a scam! But they all do it. To be fair to the companies we deal with (i.e. Bennetts, Bikesure, MCE, Motorcycle Direct, etc.) I think they're just brokers at the end of the day and as much as we don't like to hear it, they don't really have any say over what the underwriters will say to a change, they just put a margin on the product for their time and admin for buying in bulk from the underwriter.
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Nobby the Bastard
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PostPosted: 10:02 - 19 Mar 2023    Post subject: Reply with quote

TravisBickle wrote:


Who TF is getting insurance for under £200?!



Fully comp on the Strumpet was £115.
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Robby
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PostPosted: 11:09 - 19 Mar 2023    Post subject: Reply with quote

My insurance halved this year. Granted, it was very expensive last year, but it looks like there is a bit more competition around for multi-bike policies with one fairly new, fairly expensive bike, and a much cheaper classic.

I really like the new insurance law where you can't get penalised for loyalty. I didn't have to shop around, I can pretty much just let Bennetts handle it and ask me for money once a year. It would be nice to have a similar setup for broadband.
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P.
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PostPosted: 12:16 - 19 Mar 2023    Post subject: Reply with quote

TravisBickle wrote:
Who TF is getting insurance for under £200?!.


Insurance on the CB250 is £41, insurance on the CBF600 is £58... It's worth insuring just to keep the NCB. Laughing

Perks of living in the middle of nowhere and out of piss ridden Kent I would assume.
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stinkwheel
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PostPosted: 12:27 - 19 Mar 2023    Post subject: Reply with quote

I have three bikes, comp. One of which is a sportsbike and one of which is heavily modified with all modifications declared and on an agreed value policy, including euro recovery for £350.
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to v or not to v
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PostPosted: 19:46 - 19 Mar 2023    Post subject: Reply with quote

TravisBickle wrote:

Who TF is getting insurance for under £200?!


£100 fully comp for the Thunderace this year.
probably because the bikes not worth much.
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current bike Yamaha Thunderace.
its old and fat, but its a damned good ride. the bikes not bad either.
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MCN
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PostPosted: 03:20 - 20 Mar 2023    Post subject: Reply with quote

to v or not to v wrote:
TravisBickle wrote:

Who TF is getting insurance for under £200?!


£100 fully comp for the Thunderace this year.
probably because the bikes not worth much.


The value of the beast is not the greatest concern to an insurer. The value has an easily determined limit up front.

It's the third party liabilities if said Ramshackle machine is blootered into a basket full of kittens.
Then the cost to the insurer are not as funny.

One gets insurance 'for' something but it's usually the premiums are calculated for the user/owner.

17 Yr old will pay a small fortune ££££ for a 1998 fiesta 1ltr car and a 55 wife with clean licence, no claims or medical conditions will pay not much for the same wee banger.
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Freddyfruitba...
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PostPosted: 12:36 - 20 Mar 2023    Post subject: Reply with quote

MCN wrote:
The value of the beast is not the greatest concern to an insurer. The value has an easily determined limit up front.

Hmm, I when upgraded my bike last year to essentially the same model but 3 years younger (and hence quite a bit more valuable), the premium increase was huge. A mate did similar - albeit buying a brand-new bike, so the value differential was even greater - and his existing insurer wouldn't even insure him (and he's an old fart living in a small provincial town, full NCD, no particular risk factors)
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Robby
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PostPosted: 18:49 - 20 Mar 2023    Post subject: Reply with quote

I wonder if buying the same make/model but newer is itself a little demographic with a lot of risk around it.

It is possible that a lot of people doing this crashed their bike, got the insurance money, and replaced it with exactly the same thing. So in the great mess of algorithms deciding how much to charge you, you flag up as someone who just had a big crash and is probably going to do it again.
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xX-Alex-Xx
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PostPosted: 14:18 - 21 Mar 2023    Post subject: Reply with quote

TravisBickle wrote:

Who TF is getting insurance for under £200?!



£110 quid fully comp for my 750 Cool
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Ste
Not Work Safe



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PostPosted: 14:33 - 21 Mar 2023    Post subject: Reply with quote

Robby wrote:
I wonder if buying the same make/model but newer is itself a little demographic with a lot of risk around it.

For what it's worth, years ago when G and I swapped my NSR125 for his ZX6R and he swapped his ancient NSR125 insurance to the cover the ~6 months old NSR125 and it put the price up despite it being TPO.

Maybe people on shiny newer bikes ride more reckolessly than people on older bikes therefore newer bikes cost more to insure. That sounds entirely plausible as does what you say about it flagging up people who just had a big crash and will probably going to do it again
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MCN
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PostPosted: 16:25 - 21 Mar 2023    Post subject: Reply with quote

The shoorance underwriters have very accurate algorithm to calculate their risk.

The difference between comparison with you and your mate can sometimes not make sense.
In that case, re-do your quotes and change a few details to trim the quote.
And etc.
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Pete.
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PostPosted: 23:04 - 28 Mar 2023    Post subject: Reply with quote

Just went through the renewal pain here. Wasn't painful at all to start with. I got my renewal quote of ~325 which is what I usually pay. Only this year I wanted to change my bike over to a nicer one I bought last autumn which has been parked up over winter so it doesn't get salt-rashed right away. Exactly same model, same value, same useage (personal business), same rider conditions, no extra claims, convictions etc. Literally the only thing changed was the reg number and it's an 05 with 70k miles instead of a 04 with 120k.

Quoted £335 by the nice lady at B1kesure. Fine by me. I accept and pay by card. Policy renews this weekend so plan is Friday get home on my old bike and Saturday take new bike for MOT when the insurance starts.

Then yesterday, old bike blows a head gasket, I thought it was a blown piston/valve at first and terminal. Big smoke, oil everywhere. I call B1kesure and ask if I can pay a token fee to add my new bike for a few days until renewal. Helpful guy says we can do an early renewal for you, you'll just lose 4 days insurance. That's fine by me.

Runs it through the system and quote is now £600-odd. I told him I'd already had a quote of 325 and accepted/paid it up so there's a mistake somewhere. He'll get back to me.

The original lady who did my renewal calls me back and claims that because the bike was newly-owned there wasn't a long ownership discount and hence £300 increase. She'd made a mistake by not changing the purchase date apparently. I claim bullshit, there's no way the purchase date could nearly double my quote with all factors being equal. She is adamant that this was the best they could do but they would do me a favour and get it down to around £460-ish so I need to pay another £130. I told her no way, I gave you all my correct info, you took the money and we have a contract which I'm sticking to. Forget the early renewal I'll just catch the train for 4 days and stay with the quote I got.
She says they can't do that because the incorrect purchase date invalidates the policy and she has to cancel it, so I can either pay the extra £130-ish or cancel the upcoming insurance it's my choice. I argue that it makes absolutely no material difference and the insurer's liability is completely unaffected by when I bought that bike as it's completely identical to the one I've been riding since 2015 (which they have been insuring) except for the reg number.

B1kesure lady sticks to her guns, either pay up or cancel, you decide. So I tell here forget all about the new bike, just renew the old bike at the £325 renewal and I'll swap the engine and all the good bits over. Getting angry now and really willing to cut off my nose to spite my face. She can't wriggle out of this because they had already offered me the renewal at that price, so she agrees and when I get home I have a renewal certificate in my inbox, starting on April 1st (ironic isn't it?).

Personally I don't believe a word of it, especially after reading the Martin Lewis article posted by Polarbear above:

Quote:
Time your switch

Even the timing of when you switch insurance premiums has an impact on what you pay.

Research from Compare The Market has suggested insurance policies are £319 cheaper if drivers switch three weeks before their renewal date compared with switching on the day a policy ends.

Switching a policy on the day it ends costs on average £776, compared with £457 if you move three weeks before


I think that when they ran the quote the second time it was within a week of renewal date so the undrwriter racked up the premium.

So this evening I'm still stewing over it. I get on a comparison site and insure the new bike with B3nnets for the same as my old original renewal from B1kesure, but with added breakdown, legal, helmet & leathers and personal injury cover included.

Tomorrow I'll be cancelling my renewal and B1kesure can kiss my rosy red ringer. Been with them for years and they try to stiff me for £300 for their mistake.
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