Multi bike insurance

[stever1]

Morning all
It’s that time of the year again. Insurance is due soon, and I now have 2 bikes. So, is there any recommendations for companies who do multi bike policies ?

 

[wessie]

You might find 2 policies are cheaper, as I did in 2017 when I bought a 2nd bike. Especially if one is newish and worth over £15k

Ring Bikesure (Adrian Flux) & Bemoto as they are more clued up than others.

 

[Richie N]

That’s interesting about two policies.

I’m with Bikesure on my 2006 GSA for 8 years. Just tried to add a new bike (GSA) and they have to refer it to the insurers. Can’t give me a quote over the phone today.

Wtf? It’s a new bike, a tracked fitted, and it can’t be unusual for bikes to be nearly £20k now?

Is theft in London that bad now? That’s all can think of..

 

[stever1]

You might find 2 policies are cheaper, as I did in 2017 when I bought a 2nd bike. Especially if one is newish and worth over £15k

Ring Bikesure (Adrian Flux) & Bemoto as they are more clued up than others.

Im with bikesure but it’s too early to quote apparently. Rang BeMoto and got a bad shock. Nearly twice as much as I paid last year.

 

[Dartanion]

Insurance costs have gone silly this year it seems - just cost me over 50% more to insure four bikes on a multi policy - long conversations with the broker and much back & forwards it seems that the insurance companies have all increased premiums across the board - usual reasons apparently

 

[g00ner]

I was with BeMoto insuring an Africa Twin DCT 2019 primarily with an R9T and 690 enduro additionally, all similar value.

The BeMoto ethos as said to me was as you can’t ride more than one at a time, the second and third bikes would add a negligible additional cost to the premium. Renewal quite in March was circa £480.

Having sold two, my renewal quote for just the R9T was £165… dropping to £120 when I mentioned I had other quotes via an online portal.

Read into that what you will, but it appears to me the additional bikes added more than a negligible amount to the premium.

 

[wessie]

Insurance costs have gone silly this year it seems - just cost me over 50% more to insure four bikes on a multi policy - long conversations with the broker and much back & forwards it seems that the insurance companies have all increased premiums across the board - usual reasons apparently

that's not universal - I actually renewed with Devitt this week as my premium went down a tenner to £83! Full comp, Ageas policy, 2016 R1200RS. I'm not in London, though and only have the one bike in the garage now.

I was with BeMoto insuring an Africa Twin DCT 2019 primarily with an R9T and 690 enduro additionally, all similar value.

The BeMoto ethos as said to me was as you can’t ride more than one at a time, the second and third bikes would add a negligible additional cost to the premium. Renewal quite in March was circa £480.

Having sold two, my renewal quote for just the R9T was £165… dropping to £120 when I mentioned I had other quotes via an online portal.

Read into that what you will, but it appears to me the additional bikes added more than a negligible amount to the premium.

The theft risk to the insurer is much larger if you have several bikes so the comment by the Bemoto Chimp is bollox, as has been demonstrated by your later experience.

Like bikes over £18k, underwriters are not keen on multibike garages

 

[Dartanion]

Wow, I can only dream of premiums that low, it did appear that changing from the KTM 1290 to the GSA has had a huge impact (due to the high value of the BMW I think) and being close to London also doesn't help - I'm no spring chicken, max on the NCD, no points, no accidents and no claims - I did look at insuring the bikes individually but overall cost was similar so I guess I must be one of the unlucky ones.

As Wessie has stated, the fact that I can only ride one bike at a time is not the main factor in assessing the risk, more the risk of fire/theft from a single garage and the high cost of two of the bikes.

Hey ho, it's only money I guess.

 

[Richie N]

Bemoto wont give a quote for anything other than third party only, which is £600 wtf???

 

[JohnnyBoxer]

We all need to move to Guernsey and join Arsey

 

[garypotter]

Highway insurance used to give a 5% discount on the 2nd and 3rd bike they insure for a client but i found they were really good on the blade but no good on the GS so two seperate policies

 

[er-minio]

I'm with bemoto currently, insuring 3 bikes (HP2, GS, and DRZ). Not the cheapest but I'm happy with the cover.
As someone mentioned, explore having 2 separate policies as it can be cheaper and it can be expensive to split the bikes later on.

I have 15+ NCB on this policy. At some point I was thinking about putting the GS on a separate policy, but restarting from 0NCB made it fairly expensive so didn't do it at the end.

 

[Smithmas]

I am with Bennetts, underwritten by Highway for my 2 bikes (GS1200 & Z1000SX) just received my renewal quote and it was about £110 less than I paid last year.

 

[simondippenhall]

Bikesure were the best for my stable, ranging from newish Goldwing to 1957 bmw, 4 bikes on one policy, 20 year old 1150GS on another, ‘modern classic’ policy.

Devitt and Bennett were a waste of time; Carole Nash agent took so long to even spell my name that I hung up; Cornhill didn’t return my call.

Pension age, max NCD in rural area.

 

[Wapping]

All this thread proves is that several insurance providers can (and will) provide multi-bike policies. Whether one provider is better than another, depends more on an individual’s circumstances (and maybe the quality of the chimps on either end of the phone line) than anything else.

In this one thread, one bod says Bennetts are great, whilst another bod says Bennett’s are useless. Are they both right or both wrong? Who knows. The truth is, it doesn’t matter either way, as you are not either of them. There is no magic silver bullet. Get on the phone and call the insurance providers yourself. Yes, it requires effort but so does getting out of bed in the morning. That’s the only way you’ll find a quote which suits YOU.

 

[Richie N]

That’s interesting about two policies.

I’m with Bikesure on my 2006 GSA for 8 years. Just tried to add a new bike (GSA) and they have to refer it to the insurers. Can’t give me a quote over the phone today.

Wtf? It’s a new bike, a tracked fitted, and it can’t be unusual for bikes to be nearly £20k now?

Is theft in London that bad now? That’s all can think of..

It appears London is that bad now. 20 years ago I suffered a theft, and now again, bike 2 months old. Tracker fitted and removed by thieves. Stolen right outside Claridges hotel

 

[twizzle]

It appears London is that bad now. 20 years ago I suffered a theft, and now again, bike 2 months old. Tracker fitted and removed by thieves. Stolen right outside Claridges hotel

That’s shit to hear…..

 

[Wapping]

It appears London is that bad now. 20 years ago I suffered a theft, and now again, bike 2 months old. Tracker fitted and removed by thieves. Stolen right outside Claridges hotel

A tracker does nothing to prevent a bike being stolen. What a good quality one does do, is help with the (possible) recovery of the vehicle.

How was the bike secured for its stay outside Claridge’s?

 

[stever1]

A pal mine is looking at buying a Goldwing bagger at the moment. Lives on the west coast of Scotland, loads of NCB, good security.
hes still getting silly quotes for insurance, both cost, and excesses.
it seems the insurance industry sees biking as an easy way to make money ATM. They will price people off bikes the way things are going.

 

[Wapping]

……it seems the insurance industry sees biking as an easy way to make money ATM. They will price people off bikes the way things are going.

The insurance industry probably sees very expensive, brand new bikes, as an easy way to lose money.

PS All this “It is becoming difficult to insure my spanking new steed” is not particularly new. Well before Covid, BMW Park Lane were requesting that buyers of new bikes, north of (at the time) £18,000 to get their insurance arranged before the purchase order was submitted. Too many customers realised too late, that the cost of their insurance was too expensive (or simply unobtainable) and pulled out.

PPS Completing on the purchase of a new bike on Thursday but only starting to look for insurance on the Monday before, is never a cunning plan.