Parking mo’cycles on the streets of London or, just keeping a mo’cycle in London for that matter, adds premium to your premium.
Typically NCB reduces your premium by approximately 10% per year but that is only applied after adding the risks to the to premium. The biggest risk factors being age, inexperience, previous claims, driving convictions, postcode and value of mo’cycle.
Reduce these risks and reduce your policy premium.
I will drop significantly after your first year; you’re a much bigger risk with so little experience. You’ll be in a stronger position to shop around then as well.
After I passed my license at around 26 I had to go for a £1000 TPFT insurance for a 5 year old bike, so that doesn’t sound too bad. The next year the price dropped, and I went fully comp for the same price.
Sounds OK to me especially as fully comp. Sometimes you get quotes like that for tpft. I didn’t pass till I was 47 so know the feeling (despite having a clean driving licence for 30 years which didn’t make an iota of difference). In London some insurers wont even give you a quote unless you have a garage! (as if!). A couple of years in and it will drop.
They tend to give you the full twelve inches with no lube.
I have a new versys 650 with my licence for 2 years.I’m 41 and now pay £217 fully comp with garage.
I think that’s around the same as I paid when I first had to insure my XJ6 in London 4 years or so ago.
It dropped a fair bit after the first year and again for the next couple of years - I’m out of London now with a garage so it’s a lot lower than it was in SW17 parking out the front of the house.