Insurance Premium Fail

developer

developer

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Shopping around for insurance on the (soon to be delivered) bike - simple, right?

Comp sites + Hastings, Devitt, etc.

55 years old
Full bike licence since 1979
Never made a claim on a bike in 38 years

Bound to be a model customer with a subsequently cheap policy :thumb2

However:

The retail of the new bike is considered "unusually high" (Bennetts).
I've had a 15 year gap in riding.
I've got zero bike related no claims due to the gap.
I've had a single claim in the last 5 years, but it was a £40K total loss payout on a car.

Ah, not so simple now :mmmm

Some declines and other premiums in excess of £1K :eek:

Advice/recommendations?
 
Any advice? Keep ringing around. There are few if any shortcuts, not least what suits bikermate Bob's circumstances in Barnsley might well be very different to you. Bods have been cancelling new bike orders in London as insurance was either unailable (no quote) or well north of your £1000 figure.

PS Trust your £40,000 claim translated into viewing your premium for that year as less of a rip off.
 
Wapping said:
PS Trust your £40,000 claim translated into viewing your premium for that year as less of a rip off.
Click to expand...

Yes, I'm mindful of this - and very aware that it was less than four months ago - those thieving little scrotes affect you in many ways, after their "gone in 60 seconds" rampage :mad:
 
when you find insurance, please give some thought to riding refresh lessons due to the 15 year gap. bike safe ,local IAM etc . should you undertake an advanced riding qualification some companies give a discount when renewal is due .

ways to help reduce the policy premium are no pillion, alarms fitted, kept in a brick built locked garage etc good luck
 
Several insurance providers (brokers, I guess you might call them, if you are really generous) are - despite their proud boasts of being 'For bikers' and "We love a challenge and 'special' bikes" - are struggling to find insurers who will touch the latest batch of expensive bikes, some of which will now come close to or breach the £20,000 figure. The trouble comes in that they, these brokers (and to some degree or another their customers) have had it too easy too long, as every man and his dog wanted to insure just about anything that moved. That easy life is stopping or - as the OP discovered - has stopped. Bikermates, who previously considered themselves God's gold plated gift to insurers - why wouldn't an insurer be tripping over themselves to insure a fellow (back after 15 years and about to mount his awsome X thousand pound steed) want to insure him for peanuts - are finding that they are perhaps not as attractive as they appear to be in the mirror.

PS Try Ebike, bods on this site seem to like them.

PPS Most of the bikes stolen by the scrotes, had been left with not even a disk lock. To scrotes, it's like shooting fish in a barrel; snap the bars straight and push it away. Easy.
 
developer said:
Shopping around for insurance on the (soon to be delivered) bike - simple, right?

Comp sites + Hastings, Devitt, etc.

55 years old
Full bike licence since 1979
Never made a claim on a bike in 38 years

Bound to be a model customer with a subsequently cheap policy :thumb2

However:

The retail of the new bike is considered "unusually high" (Bennetts).
I've had a 15 year gap in riding.
I've got zero bike related no claims due to the gap.
I've had a single claim in the last 5 years, but it was a £40K total loss payout on a car.

Ah, not so simple now :mmmm

Some declines and other premiums in excess of £1K :eek:

Advice/recommendations?
Click to expand...

I was in a similar position to you 2 years ago. Assuming it's a new bike you will get 5 days free with BMW insurance and they were cheaper via the phone than their website when the quoted me for the 12 months cover, though bizarrely they were more expensive for me this year with 2 years NCD than when I had none. The limit then seemed to be 15k, below that insurance was about £180 with Bennetts, above 15K and it was £1000 plus (the difference between a TE GS and one with the vario luggage at the time). Have you also tried the bike insurer comparison site as they were cheaper than the meercats for me each time I've used them. Good luck
 
BMW's insurer, Equity Red Star, are no longer quite as in love with bikermates as they once were. Some bods are finding that the 'First few days free, so you can hoon out of the showroom' facility is no longer available to some buyers.
 
Wapping said:
BMW's insurer, Equity Red Star, are no longer quite as in love with bikermates as they once were. Some bods are finding that the 'First few days free, so you can hoon out of the showroom' facility is no longer available to some buyers.
Click to expand...

My experience contradicts this .... renewal at £162. Happy customer.

The ERS customer service is outstanding imho ( there were some NCB administrative misunderstandings to sort out) I really rate them 100% .
 
Try a face to face visit to a High St broker like Swinton, NFU or A Plan - the bod in the shop may be a bit more desperate to get a commission and work for it than someone in a call centre who has a dozen calls waiting to be answered.

To reinforce what Wapping says, underwriters are a little behind the curve as far as bike values go. I have 2 bikes which were both bought new. I found a single multibike policy very expensive as only 1 underwriter would quote, so using separate brokers and separate underwriters for each bike was the way to go.
 
Wapping said:
BMW's insurer, Equity Red Star, are no longer quite as in love with bikermates as they once were. Some bods are finding that the 'First few days free, so you can hoon out of the showroom' facility is no longer available to some buyers.
Click to expand...

Before some twerp pipes up that "Devitt BMW insured me awsome they was well cheap more beer tokens" I've highlighted the three important words in two quite simple sentences. OP, you tell us that you've tried Devitt and found them too expensive, so I'll assume that you form some part of the 'some', for some reason or another.
 
Lets cut to the quick..

You haven't ridden for 15 years, since you were 40 years old.

You've had a £40K total loss payout within the last 5 years.

And your new awesome steed is "unusually" high value..

Roll up roll up... Place your bets here...
 
Steptoe said:
Lets cut to the quick..

You haven't ridden for 15 years, since you were 40 years old.

You've had a £40K total loss payout within the last 5 years.

And your new awesome steed is "unusually" high value..

Roll up roll up... Place your bets here...
Click to expand...

Steptoe grasps it !!
 
Steptoe said:
Lets cut to the quick..

You haven't ridden for 15 years, since you were 40 years old.

You've had a £40K total loss payout within the last 5 years.

And your new awesome steed is "unusually" high value..

Roll up roll up... Place your bets here...
Click to expand...

Ah yes but didn’t you know wants are now called rights!!

I don’t want to pay more than £200 so the world should accommodate me.
 
I ended up buying a Devitt policy for just shy of £750.

A lot of money (comparably speaking), however, not exactly a surprise given my set of circumstances detailed at post #1.

Thanks for the helpful advice :thumb2.
 
Lowering Premium.

Hi, as Steptoe points out, you are not in a strong bargaining position. To help, here are a few tips. Your aim is now to prevent at all cost, no theft or claim on your bike policy!!!!!! Further to this consider Almax chains and advice... lock bike to a solid object when out and about. Use a cover, fit a tracker, buy a pair of short range walkie talkies, both on VOX with one on the bike. Park bike in a concrete garage, limit use as said, no pillion, no other bike usage etc and get advanced training, ROSPA, IAM or other. Lastly, understand, all of you please, that NCD is just smoke and mirrors. I had 9 yrs NCD on bikes and it was "NCD protected". On claiming for a theft, CN staff said, "Although it was not your fault, your insurance is going up". So much for protected NCD.

Ciao, Guzzi.
 
Have you tried BeMoto ? After finally ditching BMW Insurance for their disgraceful prices/mistakes/missing documentation/waiting hours/days to connect/charging a "renewal" fee/screwing up my policy endorsements every renewal, I went to BeMoto and had a great experience, plus a much cheaper price for better cover. If you do try them don't forget to quote 44 Teeth and you get free excess insurance for the first year.
 
Nippy Normans supply Touratech, Wunderlich, Desert Fox and many other makes of accessories.
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