Bike insurance prices in 2023

magik

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Hi all,
Just have got my renewal from MCE and the premium has gone up from approx £200 to £550! Have checked other insurers and the chepaest one was still above £350. It is for my Honda nc750xd so the bike value is not that high. It's not really powerfull either. Have teh prices gone up that much or it's only me?
 
A good opportunity to leave those wasters at MCE. I think your location has a lot to do with it. Those of us in the boondocks are insuring a S1000XR for a little over £100.
 
magik said:
Hi all,
Just have got my renewal from MCE and the premium has gone up from approx £200 to £550! Have checked other insurers and the chepaest one was still above £350. It is for my Honda nc750xd so the bike value is not that high. It's not really powerfull either. Have teh prices gone up that much or it's only me?
Click to expand...

Prices have gone up for Some and down for others
 
In this weeks MCN there was a small article about MCE doing a new "pay by the mile" insewerance scheme.
I think it was £25 sign up fee, £5 a month and then a charge per mile - worked out by a small GPS type unit fitted to the Bike.:nenau
 
Ogmios said:
In this weeks MCN there was a small article about MCE doing a new "pay by the mile" insewerance scheme.
I think it was £25 sign up fee, £5 a month and then a charge per mile - worked out by a small GPS type unit fitted to the Bike.:nenau
Click to expand...

thats not going to be in the best interests of the rider is it.
 
Just doing my quotes, with IAM Surety, gone up £20 or £30 if I want to leave my bike on the drive up to 10pm instead of having to put it straight in the garage.

Hastings direct £157 which is way cheaper, but not sure how good they are :)
 
Take no notice that some bod who is 78 and lives in a remote corner of Devon, pays only 58p. You don’t, you live (apparently) in London. Shop around, for yourself. It’s the only way to (hopefully) bring your renewal premium down. Tedious, but there you go; there are very few shortcuts.

Why has it gone up? Who knows, but:

1. You maybe benefitted from a ‘New customer’ introductory bonus last year. You may get another one if you shift insurer / broker this year.

2.The insurer that MCE insured you with last year might have pulled out of the market or hiked their prices northwards.

3. London, for all we read on these pages, is a hotbed of bike theft and associated crime.

4. The broker (I use the word in its broadest sense) might be taking you for a ride. Have you troubled yourself enough to ask MCE why it’s increased?

If you cannot find anything better, comfort yourself that:

A. You have at least tried.

B. That it’s only £1.50 a day. Though I’d admit that last year’s premium of apparently about pound a day was (of course) better.
 
Hastings direct £157 which is way cheaper, but not sure how good they are :)[/QUOTE]

Been with them for years, had an at fault £9k accident in 2016, they were absolutely superb which is why I’m still with them.
 
Ogmios said:
In this weeks MCN there was a small article about MCE doing a new "pay by the mile" insewerance scheme.
I think it was £25 sign up fee, £5 a month and then a charge per mile - worked out by a small GPS type unit fitted to the Bike.:nenau
Click to expand...

A fiver a month, is £60

Sign-up £25

Basic cost £85 plus whatever the cost per mile is.

I would guess that the average bike in the UK does…. um……er……. No more than 5,000 miles a year…… if it’s 5p a mile, that’s…… um….. er….. £250. Obviously, 5p is a figure made up figure for illustrative purposes. But, for someone living in say London (or any high risk town or city) who doesn’t do many miles, it could be a saver. There will be a cross over point, say 10p a mile (giving £500) where a conventional insurance arrangement might well win, even for someone in London. The maths (it’s sums, really) will be easy to do….. for most.

The devil, as always, will be in the detail.
 
Im more concerned that if my insurance goes down anymore i will be paying more for Road TAX than insurance!!

My sons car is Free and my wife pays £30
why the hell am i paying £101 for a bike?

i paid £118 for insurance btw
 
Ogmios said:
In this weeks MCN there was a small article about MCE doing a new "pay by the mile" insewerance scheme.
I think it was £25 sign up fee, £5 a month and then a charge per mile - worked out by a small GPS type unit fitted to the Bike.:nenau
Click to expand...

you can f@ck that idea sky-high....a little GPS device fitted to your bike to measure mileage? And speed too possibly?
 
Decompressing said:
you can f@ck that idea sky-high....a little GPS device fitted to your bike to measure mileage? And speed too possibly?
Click to expand...

It's a big word, 'Possibly'. Speed alone does not invalidate insurance, any more than driving drunk or without a current MoT or with a duff headlight.

Rest assured that if anyone is taking any interest in your speed it will not be an insurer but the police, who have plenty of methods of calculating it (well enough to convince a jury, which is all that matters) without recourse to a 'possible' GPS device.

Why not wait to see the details of what MCE's chosen insurer is offering? We see lots of posts on this forum from bods wanting to insure their bike 'Off the road' ie whilst they are not riding it. This apparently new product might prove beneficial to them, as it does it exactly what they have been asking for.

One possibility is that, if it proves popular, another insurer will copy it and simply reduce the mileage cost ie. the one unknown in the calculation. That is called competition and it's a good thing.

Another possibility is if MCE's insurer finds it is the most stupid thing that they have been persuaded to do, that they'll drop the initiative within a year or two. That happened when an insurer started handing out 'free' insurance to buyers of certain cars.... that was a real disaster.
 
magik said:
Hi all,
Just have got my renewal from MCE and the premium has gone up from approx £200 to £550! Have checked other insurers and the chepaest one was still above £350. It is for my Honda nc750xd so the bike value is not that high. It's not really powerfull either. Have teh prices gone up that much or it's only me?
Click to expand...

Hi

If you are still looking for insurance, give us a call on 01733 907000, mention this forum for £10 off our titanium package!

Dean (bemoto)
 
Just received my first Renewal for 2023, for my Guzzi V85TT through Devitts. The premium has GONE DOWN! I'll just let it auto-renew I think.
 
MartinK said:
Just received my first Renewal for 2023, for my Guzzi V85TT through Devitts. The premium has GONE DOWN! I'll just let it auto-renew I think.
Click to expand...

Swapped the insurance from the V85 to the Mandello S...£228 to change and only until my renewal date in July. They where struggling to find the Mandello on the data base. I think they just guessed a figure. We'll see what July brings.
 
Lexham £260 fully comp living in London with no garage, now added £83 admin fee on top :barf

P**s taking or what!!
 
Remarkably (or perhaps not, living in west London?) BeMoto require a 2001 1150GS, parked in a locked underground carpark within a gated community, to have a ground anchor (in addition to locks, chains).

So, is this just London?

Is the requirement for a ground anchor a common insurance requirement (22 year-old bike)? The requirement still stands even if I removed 'Theft' from the coverage.
 
Nippy Normans supply Touratech, Wunderlich, Desert Fox and many other makes of accessories.
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