Bike Insurance and ageism

[Mallard]

I’m knocking on a bit now, but still in good fettle. Not a thoroughbred racing greyhound anymore, but not your average 5XL Tosser.

Insurance is due shortly so I thought I’d have a look round at what’s available online.

I live in a good post-code, have a long NCB, no licence restrictions, no motoring offences, and no criminal record or insolvency. Car insurance is not a problem.

To be honest, I do have some quotes to look at, but 3 companies (there maybe more) that couldn’t (or wouldn’t) quote:

BeMoto, Howden Insurance, and BMW, all declined to quote. So, I knocked off 20 years, and surprise surprise they all quoted.

One question I asked myself was – why have a BMW if they won’t insure it. But I do realise that they farm it out.

I suppose they have to draw the line somewhere, but it does make me wonder which age group they get the bulk of their claims from. The young ‘uns, or the old ‘uns.

I suspect that there are a few of us on the site that also suffer from insurance ageism.

 

[TYKEBBS]

I was going to suggest that it''s all Starmers fault, cos he and his cronies are clearly after the older driver/rider...

however he would almost certainly blame the previous administration...seems that they are the cause of all evil these days

 

[wessie]

From what I have read, the claim against age curve is shaped like the mirror image of a J. Highest volume of claims from 16 to 24. Then steady decline before it starts to rise slowly as people edge towards 70. Once past 75 you become a much higher risk and the curve rises sharply again.
Insurers have over a century of underwriting data to understand the age/risk equation and it would not be fair on the low risk, younger boomers like me to subsidise spotty yoofs and geriatrics.

 

[ChasMill]

I was going to suggest that it''s all Starmers fault, however he would almost certainly blame the previous administration...seems that they are the cause of all evil these days

Or Brexit, the Russian invasion of Ukraine, COVID, The Falklands war, the great fire of London ......?

 

[karlp]

Or Brexit, the Russian invasion of Ukraine, COVID, The Falklands war, the great fire of London ......?

you have missed out Thatcher - it is always her fault

 

[ChasMill]

you have missed out Thatcher - it is always her fault

Good point, well made

 

[Posh Pete]

you have missed out Thatcher - it is always her fault

Well her party certainly agreed! That's why they dumped her!

Anyway while I've not yet been refused, I'm fairly certain my age counts against me and equally certain that there are good statistical reasons for this.

It's another reason to downsize or go for a classic bike.

 

[karlp]

Well her party certainly agreed! That's why they dumped her!

Anyway while I've not yet been refused, I'm fairly certain my age counts against me and equally certain that there are good statistical reasons for this.

It's another reason to downsize or go for a classic bike.

I have thought the same - not sure I ‘need’ a 1300

A smaller bike would be just bad much fun

 

[wessie]

I have thought the same - not sure I ‘need’ a 1300

A smaller bike would be just bad much fun

it's working for me

I had the cash in the bank to spunk for a new boxer last March but I decided a new 850cc bike costing £12k would do the job. 6000 miles later and I am content I made the right decision. It is worth over twice the value of the 9 year old bike it replaced so an insurance increase to reflect that, but I expect this to taper down as the bike ages.