Bike insurance Rant

maison

maison

Joined
Oct 7, 2013
Posts
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Location
South Wales
Funster No
28,463
MH
Swift Escape Compact
Exp
Since 1988
I have had a Honda CB500 as a runaround for a number of years. Current insurance cost inc. breakdown cover U.K. and EU and 180 days EU insurance cover. Premium £158 pa.

I am considering trading it in for a Honda PCX125 scooter to use with the motorhome. On asking my insurance company for a quote to transfer the insurance across I was told the premium would be £219.63.pa henceforth.:eek:

Today I went on their website and entered my details + the scooter, as a new customer. Premium quoted £128.57pa.:mad:

It would be funny if it wasn't so infuriating.

I can match their on line quote with other companies so guess who will not be getting my premium next time.
 
We agree & it's bizarre & frustrating that '' new business '' is almost always cheaper than renewing or transferring :mad:

We just saved 40% by not renewing :)
 
MH 55 FUN said:
We agree & it's bizarre & frustrating that '' new business '' is almost always cheaper than renewing or transferring :mad:

We just saved 40% by not renewing :)
Click to expand...
Particularly galling to get the higher quote for a 125cc than my existing 500cc too.
 
maison said:
Particularly galling to get the higher quote for a 125cc than my existing 500cc too.
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125cc Scooters are much more likely to be nicked by lowlifes than a CB 500, just sayin!
 
injebreck99 said:
125cc Scooters are much more likely to be nicked by lowlifes than a CB 500, just sayin!
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Yeh! That was partly their excuse.

But, obviously, only 125cc scooters owned by existing customers. New customers obviously don't get theirs stolen as often, judging by the premiums quoted.

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Standard practice unfortunately. It happens with cars as well.

When I questioned it once years ago I was told that it was a special "introductory discount" for either new or online customers, I forget which, and only available for the first year.





Just to make you feel even better I pay a similar amount for my 1250 Bandit :whistle::D2
 
MCE always send me a renewal quote each year, it's always too high, I always get a quote online, I always ring them to ask why it's cheaper online, they can NEVER match their OWN online quote!

It's bonkers!!

So I take out a new policy online (always with MCE still), then a day or two later they email me asking to send proof of my no claims discount from my previous insurer.

IT WAS YOU, YOU FOOLS!!!

Ridiculous.

(but cheap)
 
I am with Lynbrook insurance with both of my bikes, no big price hikes year on year, and very knowledgable with my Suzuki ST400 as well, unlike others.

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The UK insurance industry is almost becoming a national disgrace.

Our scooter insurance (£90/an) needed a change of start date as renewal whilst in Spain was a nuisance and new lighter scooter needed.

£70 to cancel policy so I could transfer no claims to the new policy (£30 if I stayed with them). Only six weeks to run.

Of course they waited long enough so that distance selling laws did not come into force before informing me they would cancel the policy unless no claims was transferred. (n)
 
Changed my car insurance this year for the first time after 4 years with same company. Up till this year they matched or bettered my lowest online quote, which was usually their own new customer one. Worth asking for a price match you never know they just might.
 
I insure my GS1150 with Saga and just renewed at £75. I looked at the online comparison sites and the best price was £79.
They cannot get close to the insurers who do our cars or MH though on price.
Crazy or what?
 
All my bikes are insured on comparison sites every year. Can't think the last time I took a renewal quote in fact don't even bother asking them to match nowadays just pay for 1 year upfront and do the comparison thing annually it only takes 5 minutes.
Loyalty definitely gets you penalised, same with all insurance.
Strange though scooter insurance is quite expensive I was surprised how much the SH300i was to insure I expected it too be pennies but it was similar to my 650 Versys.

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I feel almost guilty saying my Honda ANF 125 cost me £39 pa fully comp with 90 days foreign cover! How? I'm a member of the CSMA (now Boundless) club who have a special deal with LV. If you've been a public sector worker the membership fee soon pays for itself with the savings on all sorts of insurance.
 
Been checking today for insurance of the two wheeled kind, "So you've not ridden for a while then sir" No.
 
Laying a scooter down costs more than a motorbike which accounts for the higher premium.

Joe
 
@denisejoe
Surely that depends on the amount of fairing, hard luggage etc.

I admit, my 500 had only a bikini fairing not fully enclosed like the scooter.

Incidentally, we still have a Honda ANF125 which we carried on the m/h previously. It is unfaired but just as expensive to insure. I'm not sure about UK as that bike is registered and insured in France.

The French Insurance Co. initially quoted really ridiculously high premiums. When I queried it they said it was because 125cc bikes were usually ridden by new or inexperienced riders. When I provided evidence that I had held a bike licence for 50 years and regularly rode a 500cc bike, they almost halved the premium. It is still higher than my 500cc though.

However, in France, there is no road tax or MOT on motorcycles so costs do balance out.(y):)
 

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