insurance

[zx636]

I am in the middle of setting up a system for a big insurance company and I was chatting with one of their assesors. As they underwrite a lot of motor insurance I raised the hot topic of Biking. I asked his views on the DAS and CBT, training in general and age.

His answer really shook me.

I suggested as i have on this forum of scrapping the whole system and giving everyone a fair crack of the whip. My suggestion was At any age, one 5 day course and test. 3 months restriction to 33bhp then a free for all. He said the insuance companies would love such a scheme because they would then be in control. HOW??

Basically they would make it extremely expensive for anyone under 21 to ride. He reckons that there will be enough funds gathered from those who could afford it retain their level of income with reduced payouts. a profit in other words.

I asked why 21 and was told it was to fall in line with other countries in the EEC. Speaking of which, If I read between the lines soon you will be able to obtain insurance quotes from any company within the EEC.

It seems we are stuffed from all sides, The do gooders wanting a say in everything we do, the goverment with its head up its arse pretending there isnt any problems and the Insurance companies just waiting to rip us off.

One thing that I did sort of get was that the manufacturers can see what way things are going, maybe they know more than we do hence so many offering "LOW INSURANCE" deals.

Ever get that feeling you are a turkey just waiting to be plucked.

[Bendy]

The entire insurance industry is truely bollocks, isn't it?

Wonder what would happen if insurance was a non-profit government service...

[zx636]

How about both road tax and 3rd party insurance included in the price of petrol. All you would be required to get would be a fire and theft or any other additional insurance you personally wanted.

At least that way when some idiot prangs your bike you know he is not going to be uninsured.

My god....Russia

Welcome to an ideal world comrades.

[Ste]

It is fair enough that they do charge more to someone that they're more likely to have to make a pay out because of, but only to a certain point, but just putting the prices for young people up to the point where most can't afford it is daft.

[craigT19]

insurers in this country have drivers by the balls, take the canadian approach.

Whe u get a drivers licence u get issued a number plate that stays with you as long as your driving...u are then insured based on the historry of your plate...not on your age or what u may or not be driving, a mate of mine over there is 23 and drives a corvette c5 his insurance per year is less than my little bros on a 1 litre fiesta
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Bikes owned :- 2001 nsr125, 1999 zx6r, 2006 yzf-r1, 2009 xmax 250, 2012 yzf-r1, 2015 MT-07
Current bike : - 2016 MT-10
BCF member pops. sadly missed 1945-2003

[zx636]

I agree that maybe at certain ages you are more of a risk. But insurance companies just love to put each of us into a group. Its easier for them to work.

If you believe like me that experience counts for a lot then how can insurance companies justify giving a 25 year old with ones years experience a lower premium than a 19 year old with two years.

I have no axe to grind really as I am almost 50 with only 2 years ncb and my premium is next to nothing. Does it makes sense, I would have thought that my reactions would be a lot slower than most 19yr olds and my premiums would or should reflect my age and experience.

[Danny]

Craig: I think you'll find bike insurance prices in Canada are absolutely insane. Much worse than in NI, infact the prices are so high it's common for people to ride around without a plate and just leg it if the police notice them.

[kasandrich]

[zx636]

I think you underestimate 17 and 18 year olds and are like the insurance companies grouping them all together.
Not all youngsters are are totally mad. A lot talk the talk without walking the walk so to speak.


Not all 40-50 year olds are the same either. You have no intention of finding out what your bike can do whereas I know exactly how mine performs. That certainly does not make either me or you a good or bad rider. However we would be classed in the same kind of group. Logic dictates that you would be a lower risk to insure than me.

I think we could argue this one all day. I was just trying to pass on info I had gained added with my point of views

[Kickstart]

[kasandrich]

Top discussion guys, its nice to get other opinions without argument, there is no right and wrong on these matters, and no two individuals are the same, I do know how much different I feel now to when I was 17 or 18, and I can only assume that the insurance companies feel that is typical from the premiums they quote.......I paid £170 on my CBR1000f TPFT, no experience, just passed DAS.

BTW, when I say I have no idea what my bike will do, I am strictly taking about top speed, and it is my sense of mortality, which seems to grow as you get older, along with my responsibilities to my family, and therefore my need to hang on to my driving licence, that stops me exploring that, but I do know where the throttle stop is and my rev counter regularly see's the red line.............do not fear the bike is not wasted, but I did not go out an do it all on the first day, I built up to it as I felt comfortable and confident, but I know it still has lots more to offer in the bends.
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Richard

CBR1000FM

[mchaggis]

I think I am wanting to get a GPZ 500 or 600 when I've done my DAS next summer, by which time I shall have graduated, fingers crossed. For interests sake, I decided to get a few quotations, fiddling the dates a bit so it would give me a quote for now, as if I was actually a year older and had done my test this summer.

Once I've graduated, I shall technically be unemployed. I am hopeful of being able to find myself a job with an automotive manufacturer not too long after that, so I put in both scenarios.

A, I'm unemployed and working part time in a supermarket, I want to insure a 1995 GP(Z)X 600, no-one will look at me for less than £500. A bit expensive I think...

B, I'm no longer unemployed, but an engineer working for a motor manufacturer, everything else the same, and they only want me to pay £250!

Is this a fair prejudice and discrimination against unemployed people or not? Are engineers really less likely to crash, or is it that the average engineer is going to be more intelligent (hence perhaps more mature) and less likely to crash? This really has me wondering if I should bother getting a bigger bike until I've got a solid job underneath me, if it's going to save me £250 for the single fact that I was employed.

It is this which makes me wonder if it's the fact that my Mum's a 54 yr old Doctor that means she only has to pay £120 for fully comp. on a BMW F650 ST.
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I must not be a troll...
Mmmm, Guinness
Discovering the delights of Hammerite and a 3/4" brush.

[Danny]

Mchaggis, insurance companies do have some strange ideas sometimes.
For example if your an IT person for a record company you're considered to be 'high risk'. This is because they think that you might take a celeb on the back of your bike.
They also don't like students, no idea why though?

[PsychoHippy]

I still want to know why being a telecoms engineer makes me a high risk!
Do they think I might perhaps ride my bike into the side of an exchange or something?
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I spend all my money on bikes and beer, the rest I simply waste!

[DynaMight]

Dont get me started on insurance companies!! Well you've started me

My gf passed her CBT and she was hoping to get a nice little 'sports' 125, We got some quotes but to our horror she was getting quotes of £500+ TPFT (she's 21 0NCB). We tried them as if she had a full license too, but no difference!

We then got her quotes on a 1990 VFR400 NC30 (So we're talking 15BHP > 60BHP) she was quoted £105 TPFT..... Wheres the logic?

So she's gonna do her full test, pickup a decent 400 for £1500ish and pay £105 insurance.