Insurance quotes for a new GS

JohnnyBoxer said:

Which village...............so we can avoid that postcode

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Yorkshire - fraud activity...

Never thought you lot were that bad up there..

Very disappointed JB

Cheers,

Dave.

I was a bit shocked when I got my 2012 gsa £220 insurance up from my Backbird £86 I put it down to the value the following year back down to £150

Sent from my SM-N9005 using Tapatalk

Shock? Here's a shock

Same bike, 05 RT, same rider, no change in circumstances except one more year of NCD - now at 6 years

Through Carole Nash:

Last year: Equity Red Star £157.08 and excess £250.

This year: Equity Red Star £384.03 and excess of £250.

Yikes!! That's nearly 2.5 times i.e. 244% of an increase.

Did someone at Equity forget to put in the decimal point? Should it have been a 2.44% rise??

Iv got a limit won't pay more just try all the comparison site yes they do differ often swap between Bennetts Swinton etc etc but a difference in price best to phone about too my van kept going up got it though Aviva nearly £200 cheaper than anywhere else !

Hi all,

The situation is getting worse. Hard to know where to begin.

Basically, a wide area of Yorkshire is considered a high risk for fraud. Many locations (even semi rural villages) are considered insurance risk blackspots. It is not down to a specific village, they have classified whole areas of the best post codes around the small city (up to 6 miles outside) as high risk. I have never been made aware of this until trying to insure the GS. Insurance quotes on everything else have been fine in the past. However, this is definitely a post code issue now and it's a change that is recent.

I had a 3 hour conversation today with a very understanding insurance broker and a quote for around £650. The underwriter wanted a referral for panniers over £500 which we did as I want the Touratech's. After the referral, the price went up to £1300. Yes indeed, that is £650 of additional premium to insure £500 worth of goods. I told them no, obviously, but I would take the policy at £650.

Now the kicker. When I said to go ahead, the insurer then came back and effectively said..."because we are more than 30% cheaper than other insurers, we need to investigate why and we will not honour any quote for this particular risk until we have done so". They have a 30% rule apparently.

To me, that is price fixing and could well be illegal. The broker said that neither he or his management team had ever encountered anything like this before.

Caveat emptor. Basically prices you get on comparison web sites or through brokers, even over the phone, are meaningless. Only at the moment where the policy is sent to the insurer for sign off, is your price confirmed and they may refuse cover altogether (as happened to me with one insurer, again down to post code). This effectively means that it is not possible to know what your insurance costs will be until you actually confirm you wish to buy the policy. I am not sure if any of this may constitute mis-selling?

There is nothing specifically high risk about my situation other than the post code. If I change the post code to one which falls outside of their "high risk" area, literally about 0.5 miles down the road between two fields, the price drops to £400.

So, the saga continues. As of right now, I cannot find insurance cover for under £1000. Beware, potential buyers of a GS!

PS. I dont live anywhere near Bradford, which has some of the worst possible ratings for insurance fraud in the country.

bikemad said:

got it through Aviva nearly £200 cheaper than anywhere else !

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After discussion with Rep at Carole Nash got this quote:

Aviva £173 and excess of £235.

Wasn't happy with the cheapest quote offered by Carole Nash with Halifax (?) £138 and excess of £400. Don't like big excesses.

So insurance slightly up, despite an extra year's NCD. But feel happier with Aviva.
Even though the Carole Nash rep assured me that they deal with the claims etc etc. But surely it's the company that pays up in the end. Halifax didn't appear to get a clean bill of health when Googling them and reading some reviews.

Finally sorted it today. £800. Disgusted. I need a lay down.

Couldn't get anyone to cover after market engine protector bars and only one who would cover panniers. Declaring mods/accessories gets you shafted price wise but I dont feel I have a choice.

Was told in no uncertain terms that if I fitted engine bars which were anything other than BMW (I went with BMW insurance in the end), that I would not be insured. The BMW policy allows unlimited fitment and unlimited value of BMW accessories, unsurprisingly. Also worth pointing out, something else I didn't know, is that factory options are considered modifications by some insurers. With one insurer, who I won't name, said had I failed to declare spoked wheels (OEM from new), I would have invalidated any insurance with them.

Aside from having a good old moan about insurance, I hope this thread helps someone out in the future, then at least these past two days of donating parts of my body to insurance companies have not been in vain.

Do an online quite with it under 15k and see the difference. An advanced qualification usually gets you another 10%

Remember that the insurance company will never give you full value, better to buy gap insurance online with return to invoice to get your full money back