Crazy insurance!

Ash700

Ash700

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I’m due to pick up my new GSA on Friday, so called my insurance company (Motorrad Ins.) in order to make sure I have cover from the collection date. Gave them the details of the bike - same as I currently have and the new index number. Bearing in mind my policy expires on the 2nd June, I was quoted £90 for the pleasure. They said that it was my area and renewal would now be just over £1000!!?? My last premium (which has sneaked up over the past few years) was £390. Apparently my ‘area’ is, all of a sudden, HIGH RISK. I’d been with them for the past 7 years. I’ll get back to you, I told them.

Gave Hodgson & MacKenzie a try... £930! They didn’t even have my bike on their list! Their strap line... insurance by bikers, for bikers! Mmmm...

Bennetts... £314 with protected NCB. You’ll probably be able to work out which one I went for and which one I cancelled.
 
Wow, Bennett quoted me £615 because I have a akrapovic and BMW panniers, the value of the pannier set is over £1000, so they increase quote... best for me this year, LV £325, and BMW insurance £406.

That's for 9000 mile fully comp & commuting. With 8 years no claims.

I'm convinced these days it not about risk, but how much they can screw out of you, thats why they do credit searches...
 
Ash700 said:
I’m due to pick up my new GSA on Friday, so called my insurance company (Motorrad Ins.) in order to make sure I have cover from the collection date. Gave them the details of the bike - same as I currently have and the new index number. Bearing in mind my policy expires on the 2nd June, I was quoted £90 for the pleasure. They said that it was my area and renewal would now be just over £1000!!?? My last premium (which has sneaked up over the past few years) was £390. Apparently my ‘area’ is, all of a sudden, HIGH RISK. I’d been with them for the past 7 years. I’ll get back to you, I told them.

Gave Hodgson & MacKenzie a try... £930! They didn’t even have my bike on their list! Their strap line... insurance by bikers, for bikers! Mmmm...

Bennetts... £314 with protected NCB. You’ll probably be able to work out which one I went for and which one I cancelled.
Click to expand...

Se my post in B&B. I live around 6 miles from you and all of a sudden I'm in a high risk of theft area. Apparently with a garage it would have been a lot cheaper.

My quote varied between £600-£2500. It's hovered around £300 for the past 10 years.
 
They really don’t do themselves any favours. I had a 2 bike policy, cost for the GS was itemized at £390 for the year. 3 months in, I sold the GS. When I called for a refund on the premium, they gave me £22 back, after admin fees, and said that the risk of the other bike on the policy had gone up. Utter wankers.
 
Personal Injury Claims are ridiculous and insurance companies are trying to recover costs. Also it's highly likely nowadays you'll bump into a £60k prestige car with PCP deals everywhere.

I wouldn't want to be in Insurance.... scams everywhere, personal injury claims, prestige car values, uninsured drivers, people not locking up their bikes....

... and nobody wants to pay the premiums
 
A motorised bicycle from BMW is £17k now.... but premiums havent changed much in 30 years in comparison.
 
I changed bikes very shortly before my renewal date. Bennetts cost hike for the remaining few weeks was so outrageous (and my insurance is normally cheap - long NCB, riding quals and in a low risk area) that I had to go elsewhere which meant cancelling - even that cost 50 quid! They must really not have wanted my business, which worked out well for them because I haven't used them since.
 
Insurance has jumped enormously this year - trying to get quotes for my soon to arrive Rallye TE is getting silly.

I pay £230 at present for my 2015 TE and that's for: fully comp, 2 postcodes, 12000 miles p.a., pillion, business use, £350 excess, 9 years no claims, garaged at both posts codes, bike initially valued at £13,000 when policy taken out.

The best I can get this year for exactly the same but new bike valued at £16,500 is £420 with an excess of £650.

Both with BMW.

Something weird going on!
 
I’ve just been dealing with Bennets and it seems their choice of underwriters is greatly reduced when the value of the bike goes over 17k. The point being when renewal is due ensure to correctly revalue your bike to improve your premium. I wonder how many people are on auto renewal at the same value.
 
Just had my renewal through today from Carolenash. Bonneville £4000 and GS Exclusive £17000. Fully comp 8000 miles per year. £538. And that includes breakdown cover. Up from £410 last year. Thought twas a bit steep til I saw some of those quotes.
 
Mine costs £114.51 with Hastings last May. Fully comp, 5k miles, SDP only, 9 years NCB, £250 excess. I'm dreading this May now!

2016 GS
 
fatfingers73 said:
Mine costs £114.51 with Hastings last May. Fully comp, 5k miles, SDP only, 9 years NCB, £250 excess. I'm dreading this May now!

2016 GS
Click to expand...

I’d never use Hastings, in my experience they are a bunch of crooks. Maybe cheaper but wait until you get a problem.


Sent from my iPhone using Tapatalk
 
Something weird going on!
Click to expand...

Nothing odd at all. Loss ratios (premiums in vs claims out) are shite. Supply and demand. Prices are going up. It’s not personal. They’ll come down again, sometime.
 
Devil said:
Wow, Bennett quoted me £615 because I have a akrapovic and BMW panniers, the value of the pannier set is over £1000, so they increase quote... best for me this year, LV £325, and BMW insurance £406.

That's for 9000 mile fully comp & commuting. With 8 years no claims.

I'm convinced these days it not about risk, but how much they can screw out of you, thats why they do credit searches...
Click to expand...


Quick update, insured the bike today, change mileage from 9000 to 12000, and quote went down to £389.... :JB
 
Karlos said:
I’d never use Hastings, in my experience they are a bunch of crooks. Maybe cheaper but wait until you get a problem.


I've just renewed with Hastings. I do agree with you that they are a bit tricky to get hold of. The only downside being they will not quote for commuting, which I don't need but always try to include in case I fancy taking the bike to work in the summer. Unfortunately the difference between their quote (£324) and the next which included commuting was nearly £500.

On the basis that they are all pond scum, I don't think that was too bad.
Click to expand...
 
the woodster said:
Karlos said:
I’d never use Hastings, in my experience they are a bunch of crooks. Maybe cheaper but wait until you get a problem.


I've just renewed with Hastings. I do agree with you that they are a bit tricky to get hold of. The only downside being they will not quote for commuting, which I don't need but always try to include in case I fancy taking the bike to work in the summer. Unfortunately the difference between their quote (£324) and the next which included commuting was nearly £500.

On the basis that they are all pond scum, I don't think that was too bad.
Click to expand...

True, I see your point. My experience of Hastings is such that I’d never go back no matter how much less they are. That said I haven’t had course to use my current insurer, and I hope I don’t have to, but they may be just as bad.


Sent from my iPhone using Tapatalk
Click to expand...
 
Just renewed for my 2013 GS. Including Business use, 5k per year for £104 with Hastings and with £15 cash back from Quidco, less than £90 for the year. Just hope I don't need to call on their services if previous threads are correct
 
I've been with BMW for over 10 years, and have been happy with them.
Last year, when my renewal quote came through, for a 2014 GSA, it had gone up from about £180 to £240, I went to their website and did an online quote and it came in at just over £180. I rang them up to see what they had to say, we reduced the bike valuation to a realistic figure, and they renewed for just over £180.

Renewal is due again on Saturday, received the renewal quote by email, over £240, not too bad I thought. However, I am changing my bike tomorrow for a new GSA, so phoned them and asked for a quote, over £800! :eek:
This will be my fourth new GS (one GS followed by three GSAs) in ten years, I've never yet been asked to pay an excessive amount extra whenever I've changed bikes, until now. Needless to say, after being a customer of BMW Motorrad Insurance for 12 years, I will not be any longer after tomorrow.

So on to the price comparison sites, in the past I've always had loads of quotes well under £300, with several of these being less than £200. Not this time, only Bennetts and MCE came in under £300, and both were over £200, though if I opted to pay an extra £50 excess liability with Bennetts, making it £225 excess, then it went down to just under £200. In the end I went to IAM Surety, who bettered Bennetts quote when legal and helmet/clothing insurance was added.
 
Wapping said:
Nothing odd at all. Loss ratios (premiums in vs claims out) are shite. Supply and demand. Prices are going up. It’s not personal. They’ll come down again, sometime.
Click to expand...

Two factors I guess in my case (1) lots of insurance claims all round in the las year so they need to claw back the losses from everyone (2) Brand new Bike excuse.

If I had kept the 2013 bike the automatic renewal premium was virtually the same.
 
Nippy Normans supply Touratech, Wunderlich, Desert Fox and many other makes of accessories.
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