Insurance change
- Thread starter Tyzer
- Start date
£181 for an extra 2,000 is fucking ridiculous in any context !
My premium was £546 and expires on 22nd March 25.
It does sound a lot, but as said, it needs to be taken in context, your mileage is going up by 40%, so I suppose that must equate to 40% more risk, yet the policy has only increased by 33%, so it's not too bad when looked at like that (and that increase probably includes an admin fee which could be anything from £25 to £50 depending on the company).
a 2000 increase in mileage as a proportion of 5000 miles is a substantial increase in the risk for the underwriter as already pointed out
Is that your uber jaunt to Norway? Just think, if you’d stayed at home, you’d probably have been well under.
PS There’s a insnorance section, with its own sub-section, dedicated exclusively to moaning. This saves space in the 1300 ‘technical’ section for enquiries as to which gloves fit and look awesome, when mounted and hooning on the steed.
My motorcycle / motorcar / motorhome / scooter insurance has gone up / gone down / stayed the same / was tricky to renew or buy…. Post them all here
I’ll start…. Mine stayed the same, in other words, unaltered. PS All posts on this remarkably taxing subject will be moved here, so bods will know where to go for: A. Solace B. Gloating C. To guess what monetary figure 26% of an unspecified monetary amount might translate to. That at least...
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Yeah I guess so I didn't look at like that I was just shocked to say the least
Probably wouldn't have been that much if stated at initial purchase. Sometimes makes no difference at all IME.
I suspect a decent proportion of it is an "alteration fee" whether stated or not.
I suspect a decent proportion of it is an "alteration fee" whether stated or not.
I feel your pain, hikes in insurance are never pleasant.Yeah I guess so I didn't look at like that I was just shocked to say the least
In May 2022 my wife had an accident in our car. We are both convinced the third party was at fault, but there were no independent witnesses, but I was able to get some very poor quality video from an adjacent building. The third party would not accept responsibility so both my insurance policies, car and bike, have taken a big hit for the last two years (approx £500/year in total) as I am having to declare this as an "at fault" accident.
My insurance company are supporting me and we are attending a court hearing tomorrow, in our eyes the third party is clearly at fault, however, the judge may not agree, so here's hoping!
If we win, it is unlikely I'll get the extra £1000 in insurance payments back so I may have to take either the third party, or their insurance company, to court again (small claims) to get it back. I can see this drawing on another two years!
So I guess the question is this. If you believe your annual milage would be less than 5k but things subsequently change at what point do you need to tell the insurance company because at the time you took the policy out/renewewd it the information yiu gave was accurate to the best of your knowledge, especially if your milage for the following year is as Wapping has suggested will be under your declared limit and was in this case only pushed over by a single event?
Context again. Go over by 500 miles and I doubt anyone will care, just like a service schedule.
If you are planning a trip to Norway and therefore know you will exceed the agreed mileage by 40% then the onus is on you to declare this before the trip as it is a material change of circumstances you can predict.
If, on the other hand, you find your car is dead and you are in a hurry to visit a relative in Italy before they die, it would not be unreasonable to make the trip on the bike, exceeding the agreed mileage. You would then need to retrospectively inform the insurer.
There is another scenario but this would depend on the policy wording. I have seen an endorsement on some policies where it mentions the agreed mileage and will increase the policy excess should you exceed this mileage and make a claim. Similar to the garage excess you see on some policies.
Good luck,hope it goes in your favour
Should have kept schtum. Any policy change costs a fortune, their excuse is 'Admin'
underwriting your own risk can be costly
It's 'estimated mileage'. An insurance company won't get upset if you exceed it by a couple of thou. Just up the mileage on renewal
you seem to miss the point that the increase of mileage is 40% which is not trivial
You can bet a pound to a pinch of sh*t that if you took the policy out with a 7000 mile limit it would not have been £181 more expensive , I would get an online quote using their website for someone your age and circumstances for an identical bike with a 7000 mile limit and when it comes out nowhere near the extra £181 I would get back onto them and ask why ?
£181 is what I paid fully comp for two bikes covered for a year with £6K miles on each covered. It sounds excessive for the mileage increase quoted above. They make it up as they go along I think, and recently (from around March/April time) I've noticed huge hikes in our car insurance forcing a lot of shopping around to get a decent deal. Insurance has sky rocketed in the past year for some reason.
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