Bennetts tripled my premium - anyone else?

[freddyfruitbat]

I've been insured with Bennetts for the last year; premium was £350 I think; and my renewal quote has just arrived. Was expecting a drop or maybe little change this year, as my most recent claim has dropped off the 5-year insurance radar, and I now have a respectable 5 years NCD. But no: they want £1056! This is for a 2019 R1250RS, garaged, at a reasonable postcode, no convictions, no risky employment, middle-aged (cough) rider etc. So I was a bit panicked, wondering what on earth was going on, until I tried getting quotes elsewhere... came up with plenty of quotes around £130-£150. Furthermore, at the bottom of the list (Confused.com, comparethemarket etc) where it says "The following insurers declined to quote", Bennetts was listed. So clearly my £1056 was a "fuck off" quote.

But why? I'm curious. Can't understand why Bennetts wouldn't want me. Anyone else experiencing this?

For that matter, another insurer in the short "declined to quote" list was "BMW"! What the actual??!

 

[Zx9man]

Your to fast knee down rider

 

[Spookos]

I've been insured with Bennetts for the last year; premium was £350 I think; and my renewal quote has just arrived. Was expecting a drop or maybe little change this year, as my most recent claim has dropped off the 5-year insurance radar, and I now have a respectable 5 years NCD. But no: they want £1056! This is for a 2019 R1250RS, garaged, at a reasonable postcode, no convictions, no risky employment, middle-aged (cough) rider etc. So I was a bit panicked, wondering what on earth was going on, until I tried getting quotes elsewhere... came up with plenty of quotes around £130-£150. Furthermore, at the bottom of the list (Confused.com, comparethemarket etc) where it says "The following insurers declined to quote", Bennetts was listed. So clearly my £1056 was a "fuck off" quote.

But why? I'm curious. Can't understand why Bennetts wouldn't want me. Anyone else experiencing this?

For that matter, another insurer in the short "declined to quote" list was "BMW"! What the actual??!

My renewal is due in January so I’m awaiting it, but a few of my biker pals have had similar experiences to you. It definitely pays to shop around, and as you point out you’re basically forced to move periodically.

 

[wessie]

I'm moving house on Friday. Just getting some quotes to compare with what Devitt will ask for at the new address. Risk profile will be higher as I won't have a garage.
Only 3 brokers returned quotes using Topcashback Compare. Hastings, Lexham & One Call. Lowest premium is okay at £135, but a third more than at the last address. With Devitt's admin fee and 9 months of premium hike I am expecting a new policy to be best value.

 

[REKMec]

Just automatically renewed my R nineT as it was cheaper than last year which astonished me. £110!! FComp I really can’t read the minds of insurance companies

 

[JohnnyBoxer]

Most motors insurance has gone up this year …astronomically
My car is up 26%
Commercial vehicles up 14%
I shopped around and some companies wanted a £1000 more than my current renewal
So 4 - 5 quotes from brokers and 2-3 were exactly the same as my current insurance renewal (give or take £50)
One was £250 cheaper
Might as well stay with the current insurer at this rate

 

[rhun91]

The car insurance on my astra went up more than 50% compared to last year. Couldn't believe it.

Sent from my LYA-L29 using Tapatalk

 

[Richie N]

I have a mate in the insurance industry and he warned me recently to expect higher premiums on renewal.

My daughter recently passed her test and was £500 more to insure than my son, same car and girls are supposed to be cheaper!

 

[JohnnyBoxer]

I have a mate in the insurance industry and he warned me recently to expect higher premiums on renewal.

My daughter recently passed her test and was £500 more to insure than my son, same car and girls are supposed to be cheaper!

Motor insurance has gone up 25% on normal cars and up to 75% on ev cars, this year …..according to BBC breakfast this morning

I bet bike insurance goes up 25% too

 

[johnnyboy]

They are all greedy robbing bastards........just incase you haven't read it here already..

Sent from my SM-G970F using Tapatalk

 

[KAYCEE]

Got my insurance renewal quote in yesterday for my Volvo XC60 Hybrid. £308 last year. This year they're looking for £658 (113% increase). No claims or any convictions

Nice folk offered to let me pay it up over 10 months at £82 per month. (oh yes please.......)

Time to check out the comparison sites.

 

[Udders]

My motorhome insurance went up £50 for no reason whatsoever.

 

[Ex-Call Centre Chimp]

Similar story here.
My car insurance renewal came through, double what it was last year, the only change being that the car and I are a year older* so I went onto the comparison websites and the renewal quote was the cheapest option.

I blame Wapping.

* I turned 60 this year so wonder if that might have been part of the reason.**

** I still blame Wrapping.

 

[Richie N]

Yep, our home insurance just went up 20%.

 

[DJ123]

An interesting article to read about why premiums have gone up so much.

• In total insurers paid out £2.5 billon in all motor insurance claims –theft, vehicle repairs, replacement vehicles, personal injury. This was up 3% on the previous quarter, and a rise of 29% on the £2 billion paid in Q2 2022. The overall number of claims settled, at 592,000, was up 18% on Q2 2022.
• The costs of vehicle repairs leapt by 46% over Q2 2022 to £1.5 billion, the highest figure since ABI started collecting this data back in 2013. This reflects rising costs for insurers, including energy inflation, labour rates and more expensive repairs.
• The costs of providing replacement cars while vehicles are being repaired, jumped 52% from £103 million to £157 million. This reflects longer average repair times, meaning that these vehicles are often supplied for longer.
• Payouts for vehicle theft, at £196 million increased by 53% on the £128 million paid in the same period last year. This in part reflects increases in the average price of second-hand cars, which rose by 28% between April 2021 and June 2023 (source: Auto Trader).

Keeping the UK moving – record motor insurance payouts to keep drivers mobile | ABI

Motor insurers paid out £2.5 billion in motor claims in the second quarter of 2023, up 29% on the £2 billion paid in the same quarter in 2022 according to latest ABI data published today.

www.abi.org.uk

 

[Strongbow92]

Bennetts suck

 

[Toddmeister]

We’ve just moved house, and gone about a mile and half down the road to a lower risk area.

I notified all my insurers today. For the multi-bike policy Cornmarket wanted an admin fee of £30 - I told them to feck off so they reduced that to £15 which I accepted. The car insurance with AA was £12.50 charge.

Then I get to my van insurers. The broker is a local firm and the policy is through Covea. Bear in mind this is a van that is 7 years old, is insured for Social and Domestic use only (to ferry my off-road bikes around), does less than 5,000 miles per annum and I have 20+ years NCB. The premium last year was £300.

Broker says that will be £150 extra to cover the 5 remaining months on the policy!

How come says I, I’m only changing my address not taking out a new policy? Oh well, the cheapest quote you could get for insurance now is £900 so they are basing your mid-term adjustment on that!

A bit of a heated exchange followed, but they insist that this is correct, so I just cancelled the policy immediately. Will be looking for a new quote in the morning, then will also contact the Ombudsman, and will make sure I leave some proper shit feedback!

 

[bristolsaint]

My insurance was due recently. R1250 GS and KTM 790 Duke with several mods. Down £180 on last year! Thank you, Bennetts.

 

[casbar]

There was a chap on facebook who bought a new BMW Elec Scoot. He had to return it after 2 weeks, couldn't get insurance, even BMW Insurance (Devets) refused to quote. He had traded a GS 1250 for it.

 

[theoneandonly]

stop whining , i'm a self employed mechanic , my trade policy is , £2500 a year .