Motorcycle insurance, massive increase. Where next?

Im 58 and have been a motorcyclist over 30 years. I was a Police motorcyclist and i have a clean driving record and 11yrs NCB.

My usual broker using Aegis ( ithink thats the spelling has given me a quote of about £960 for two motorcycles. I live in a super low crime area and previously was paying about £300 full comp.

Who are you all using to insure your bikes? Does anyone have any recommendations?

Thanks

Ian

I use MCNcompare, and looking into getting a 3rd bike – late 70s/early 80s classic – got quotes yesterday they were not out the ordinary from what ive seen over the past years.

Recent quotes from MCNcompare (Swinton – representative) – CB400n/GS550 was £70 fully comp. Honda CB500x – brand new – £140 fully comp.

Early 50s, 20+ years motorbike licence holder, new policy so zero NCB for this(these) bike quotes

There seems to be no rhyme or reason for some of the pricing, you just have to do the ring around of all the brokers/online sites…Bennetts, Carole Nash, Devitts etc etc

I’ve been with Bennetts for many years (after Carol Nash ramped up prices without any reason…just like you now).

50+ yrs old, riding for 20 years, IAM pass, 2011 990, garaged is £266 fully comp this year, up from £238 so not bad really. It’s due soon so I’ll call and have a chat and maybe they’ll find a way to lower. They usually have before.

Call around and just leave. Don’t give them the chance to amend.

Mines due in June. Last renewal with Bennetts was £195 fully comp (automatic rollover, didn’t shop around). Single bike, 3 YO Tiger 900, garaged, 60 YO, full NCB.

I use bikesure and happy with their prices.

But might be worthwhile going via a cash back site for extra discount.

Bikesure were lowest for me for a single bike but spendy for 2 bikes, also their admin fee for changes is £35 so add that on if swapping from summer to winter bikes

Bennets here, £235 for a Harley and a Honda c90, TPFT, full ncd, parked in garden in south west London. Never bothered about asking for discount for advanced training.

Just renewed mine. Was £180 and auto renew was going to be £140 with bennetts. Unfortunately auto the failed as it was my old card and when they requoted it was £280! So quick gocompare and got it for £140 with Hastings.

50yo, full ncb, f800gs, garaged

I had the same rigmarole back in Feb when mine expired. Just the one bike but it had near doubled in cost with my existing insurer. I went away from Carole Nash the year before after 20+ years when they got ridiculous. As above, worth going through the comparison sites – I managed to end up with Swinton for the princely sum of £81.25 for the year. £500 excess but whatever. 54, riding for 24 years never any claims on an old ’07 Triumph Sprint ST.

Well ive just been on MCN compare and to insure the Suzuki V-Strom full comp its £125!

So im pretty sure my ’08 Versys shouldnt be too much to add!

Thanks for you help all, much appreciated! It seems pretty clear my current insurer didnt want my business!

Ian

Sometimes the insurance companies dont want to be in a certain segment of the market, so crank up the prices.

Compare the Market will give you some ballpark figures.

Also think about increasing your excess too. My thinking is that if i have to claim, its going to be a big amount, so dont mind having a big excess (~£500 seems a good balance)

Have you phone them up yet and said WTF Mate?

They always pump up the prices for a renewal in the hope that people will pay it without complaint. One phone call and they’ll magically discover a way to lower it.

I’m about to go through the same with car insurance. £480 last year and the renewal came through today at £720. It also says that it will helpfully renew automatically so that I don’t have to lift a finger.

There seems to be no rhyme or reason for some of the pricing,

Agreed. In our house there are no claims, no convictions/points (ever!), advanced IAM and PCV drivers, younger boys who each year get older and further from passing tests, two have two years of their own NCB and mrs_oab and I both have 18+ years NCB etc. Absolutely no change in driving habits, we live in a nice low crime place etc etc.

Valuable Camper: went down £10.
Cheaper Car (1lt Fabia Estate): rocketed from £560 to £1450 renewal, I managed to get it down to £960 by removing youngest child (18) from the insurance for the year…

There is, as far as I can see, no reason at all…

OP, I’m a similar age to you, same NCB and the same qualifications (!!). Don’t know where you are but I’ve just today re insured my GS for £184 via Bennett’s through Bike Insurer. That includes, riding other bikes, legal and breakdown. I also included pillion. Interesting that the same details put into MCN were £20 dearer.

£235 for a Harley and a Honda c90

Really covering the whole spectrum there!

I just renewed mine yesterday with Devitts. £120 fully comp, £500 excess, 9 years NCB, IAM, 57 years old, ~25 years riding, 2001 Blackbird,  garaged, low crime/semi rural area.

I rang them for the ‘10% off as you’re a PIA’ discount. My premium went up by £8 over last year’s.

@yosemitepaul  thanks i will try them tomorrow!

Really covering the whole spectrum there

Hell yeh! I’ve also got another c90 and a bantam elsewhere – I like bikes with character rather than rocket- ships.

Are people getting a discount for riding qualifications? (I did the police advanced bitd)

I moved to Bennetts last year, I always shop around.

Worked for years in insurance, you just need to find out who’s ‘buying’ new customers. Using MCN Compare and other comparison site is usually the best bet.

Sorry to rub it in, but my CN renewal came through last week (rural area, 51yo rider, XSR700) and had gone down from £330 to £220 fully comp. Only thing that’s changed is that I needed cover urgently after an impulse buy this time last year, so maybe they had more time to shop around on my behalf?

There is, as far as I can see, no reason at all…

How far did you look? 😉

“The end result is that insurers are spending more on claims and costs than they are collecting in premiums. Analysts at EY estimate that in 2022 for every £1 motor insurers received in premiums, they paid out £1.11 in claims and operating costs. EY also forecasts that in 2023, insurers will have paid out £1.14 in claims and operating costs for every £1 received in premiums.”

https://www.abi.org.uk/news/news-articles/2024/1/motor-insurance-premiums-continue-to-rise-as-insurers-battle-costs/

While that’s true, why then did one stay same and one double? Surely ALL policies would have gone up 14-20%?

Brexshitty bonus?

https://www.google.com/amp/s/amp.theguardian.com/money/2024/apr/06/uk-car-insurance-cost-up-by-third-despite-smaller-rise-in-payouts

Do you perchance not have a garage? I have noticed that any bikes that aren’t garaged overnight insurance has gone crazy.

Bennetts, for the past 5 years the renewal has always been lower