Well we can add MCE and the UK Insurance industry to today’s list of rip off scum.
Stand alone policy on the GS – £160. With zero NCB – £240. Both with £175 excess.
To add it to the 14’s policy …
Go on..
Have a guess…..
Guess again….
Nope – keep going….
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Yep – they want ANOTHER £357.68 (inc 17.50 admin fee)with a £650 excess!
How the **** can they get that?
It’s bad enough that the rob you by blocking the use of the NCB for the driver/rider to one vehicle but to think its acceptable to load that amount onto premiums is an insult!
Absolute shower of shites that need reigning in and legislating once and for all.
There isn’t another country that allows this so why does the UK?

Stand alone policy on the GS – £160. With zero NCB – £240. Both with £175 excess.
To add it to the 14’s policy …

I have no idea what this means?

Me neither

What?

He’s trying to insure his BMW (1200?) GS motorbike. They want £250 to do so without any No Claims Bonus but to add it on to another policy (not sure what bike a 14 is) it will be £357 with a big excess as well.

My ZZR1400 is insured with them.
Costs me £180 with a £300 excess.
Online quote with SAME insurer on the new BMW GS is £160 with NBC or £240 without NCB of 9+ yrs with a £175 excess.
Calling them up to add it to my policy instead you would think would be cheaper.
Nope – they want another £357.68. £17.50 of which is an admin fee.
So £340.18 extra. Plus an excess of £650!!!
When their own website gives me a policy of £240 as a worst case without NCB.

Robbing barstewards!

The UK industry needs legislating to stop this happening.
It’s actually against EU legislation to do it but they aren’t held to task over it ever.

Oh right. Its a trend, my policy went up by £1300 after I wrote a car off an claimed, although apparently I wasn’t penalised like I was told I wouldn’t be when I claimed, its just insurance tax increases and admin charges.

I changed company’s and saved myself £1100.

Seems about right don’t you think?

I run two cars, each £257 & £330 with full NCB both £500 excess.

Not sure what the problem is.

He wants to insure 2 bikes

Presumably he can only ride one at a time.

Although the risk of 2bikes beinbstolen from his house it’s unlikely he will crash both at once ?

Ah the old I cant be using both at the same time risk argument!!

but having two doubles the risk

I doubt you’ll find any consumer product more regulated insurance.

When things like this happen it’s usually explained by the statistical based risk increasing. You’ve now provided the insurer with the information that you have 2 bikes. Therefore could it be that both bikes are likely to be stolen together, rather than just one stolen should theft occur? Or multi-bike owners have statistically more accidents perhaps? Just speculating there

Insurers seem to target certain markets. Maybe this insurer has decided not to insure people with more than one bike (more risky, more chance of losses, therefore less profit). Therefore they bump up the price to dissuade you. Other insurers may specifically target the multi-bike owner market and give you a much better price.

They’re essentially spreading their bets to minimise potential losses

Edit: Also there could be a new customer discount hidden in the new quote for the BMW GS that you got online.

Why not just take out a separate policy then?

Edit

It’s actually against EU legislation to do it but they aren’t held to task over it ever.

Which bit of EU legislation?

hammyuk – Member
The UK industry needs legislating to stop this happening.
It’s actually against EU legislation to do it but they aren’t held to task over it ever.

In the far east if I can still recall the insurance premium is fixed from day one. i.e. depending on vehicle etc you pay a fixed premium for that sort of vehicles. I think once a claim is made the premium might change etc I cannot remember because most people just pay for the damage themselves without putting in a claim unless it is write off.

I don’t think it has anything to do with EU legislation but generally the way insurance industry works. i.e. they can justify ripping people off.

Recently renewed my car insurance only to be told insurance premium for the entire industry has increased this year. Instead of increasing my insurance premium they maintained what I paid last year. I expected reduce premium as i have accumulated more NCB but it makes no difference to the premium.

It’s a statistical lower risk which they admitted over the phone!
The issue is that EU rules state that the driver carries the NCB as and such it is applied to any insurance they take out.
The UK locking into one vehicle breached this yet no one will take them to task over it.

How the hell they get the figures though as almost double on a specific multi-bike policy is the most shocking part.
It’s a blatant rip-off

Why would you need more than one bike? 😛

Have you done a new quote on a comparison website?

How does that make them robbing b!”£$%^&* ? All they have done is given you a quote which you are free to take them up on or not . Shop around and get a better one if they are out there , it’s called market forces and it’s what drives the price of most things .

If the standalone quote is different, why didn’t you just buy that one and have 2 policies?

Yer but..

I run two cars, can only drive one at a time too.

I agree it’s a bit odd you can’t insure both on one policy, but the problem is they’re both different vehicles, with different specs….

What I do find odd is the year on year price increases, and different prices for new customers and existing…

The motor insurance industry tends to make a loss each year doesn’t it? Not sure they’re ripping us off given that they can’t make any money off us.

I run two cars

Are you a posh Freddy Flintstone?
Willlllmmmmeerrrr

If it’s MCE, they tried to shaft me on a change of bikes by some ridiculous amount last year with a huge excess, despite being with them for years, max NCB and saying what others were quoting. Wouldn’t bring price down at all, so simply went to Bennetts who were far more reasonable.

What I do find odd is the year on year price increases, and different prices for new customers and existing…

Like lots of products you get intro discounts that would be unsustanable yoy, however there is actually new legislation due soon ( cant remember the exact date but soon) requiring insurers to quote last years premium on the renewal quote.

Shop around is the best advice I can offer.

Problem is there’s no transparency, yes a lot of claims end up inflated due to whiplash, crash for cash and not using the cheapest hire cars, only using ‘authorised repar centers’ and genuine factory parts at crazy prices,(no scams or gentleman’s agreement going in there) when you consider the sheer amount of policy holders on the road, paying on average if we are generous £400 per year, you have to wonder where the money goes…

It is MCE and yes I went elsewhere for a separate policy.
In fact I’ve taken the 14 elsewhere too and even with the cancellation cost MCE charged me I’ve saved £58 on that policy too!

they are robbers and they have your pants down.. i have 8 classic bikes and 3 classic cars.. they dont earn no claims bonus and you cant get a no claims discount.. all are pre 1960 so no mot required and no VED on any of them.. total cost for all 11 at agreed values in excess of 100k.. £865.. they are nt kept at home but in secure specialist premises that cost me another 70 pcm.. still not dear though.

where the money goes

Paying claims, Operating costs, Shareholder returns, Tax

i have 8 classic bikes and 3 classic cars.. they dont earn no claims bonus and you cant get a no claims discount.. a

wilburt – Member
where the money goes
Paying claims, Operating costs, Shareholder returns, Tax

2 reported motorcycle accidents/deaths locally in past few weeks

Its a right racket car insurance

Went to the RAC 12 months ago with a good quote. Changed car earlier in the year and it went up from £340 to £460

At renewal, they then put it up to £635. Didn’t notice until the £625 was taken from my account

Called them up and the quickly reduced it to £460

Now, where they hoping that i wouldn’t notice the near £200 increase?

They refused to go lower so shopped around and got it back down to £340

Do they not want long term business? I was with my last insurer for over 10 years – because they didn’t mess me around.

Surely the added administration and poor customer feedback would be reason enough to keep their costs consistent and lots of repeat custom?

As i said – feels like a total racket 🙁

Had to laugh at this:

total cost for all 11 at agreed values in excess of 100k.. £865.. they are nt kept at home but in secure specialist premises that cost me another 70 pcm.. still not dear though.

£865 for 100,000 of very nickable, very mobile, probably desirable ‘stock’. Plus damage cover for them if ever dropped/crashed. Oh yeah, plus unlimited £ cover if you hurt someone else.

Yet £840 is “not dear” for renting some empty space with a lock and minimum wage security guard. Money which will never ever come back.

It appears the industry I work in has an image problem 😉

Well, your premiums would be 8-10% cheaper if the government didn’t tax a compulsory insurance premium.

Robbing bastards!

Had to laugh at this:
total cost for all 11 at agreed values in excess of 100k.. £865.. they are nt kept at home but in secure specialist premises that cost me another 70 pcm.. still not dear though.

£865 for 100,000 of very nickable, very mobile, probably desirable ‘stock’. Plus damage cover for them if ever dropped/crashed. Oh yeah, plus unlimited £ cover if you hurt someone else.
Yet £840 is “not dear” for renting some empty space with a lock and minimum wage security guard. Money which will never ever come back.

It appears the industry I work in has an image problem

The way I read this was that he wasn’t complaining at all about the total cost to insure and store 11 valuable vehicles, not that he was moaning at the insurance cost and saying storage was cheap?

Judging by my own experiences over the last 20 years and that of people I talk to, insurance companies have no interest in our long term custom.

Yeah, I agree. Just postulating on what we deem as “the right price” or “value” for something.

Biggest single injury claim in the UK is Agnes Collier, c.£22million for one person. A decade ago it was c.£9.2 for a cyclist. That’s about 9-10% per annum inflation and yet we all whinge when our own price goes up “because I haven’t made a claim”…

For me it’s not about what is “the right price”, etc but the total lunacy of their pricing policy!
The whole point of a “multi-bike” policy is to save money.
They advertise it as such.
So how come two separate policies comes in massively cheaper than their multi one?
Same underwriters.

Add in the fact that the UK industry actively blocks NCB use for the driver/rider across vehicles it becomes transparent that it is a legalised rip-off.

Add in the fact that the UK industry actively blocks NCB use for the driver/rider across vehicles it becomes transparent that it is a legalised rip-off.

This gets right on my wick, if I have a claim on one vehicle then I lose all of my ncb, for all my vehicles, but ncb is only accrued individually per vehicle. Grrrr.

Now here’s a thought, if I were to get knocked off of my bicycle by a driver and make a claim on someone elses insurance, should I declare it to my insurance?

Exactly sobriety!
Yet they will only “allow” NCB earned on a car to be used on a car.
Bike on a bike.
Van on a van.
Etc…
Etc….
Etc….

Nowhere else is this allowed FFS!

Ah, have to agree with the NCB nonsense. That is ridiculous.
Clearly if you’ve been driving any type of vehicle for long enough to earn NCB, then that should be transferable..