Insurance - things

So I am in a bit of a state, i mean its not just the insurance but yanno i work freeking hard and im so so careful.

My insurance has now cost more than the bike - and its a BMW!

Last year they quoted me 2,500. I argued the toss said that quote was the same as the year before, which I did pay. they took it down to 2,100, whatever 3 years no claims been driving bikes for 5 years, driving cars for 24 years no insurance claims at all fully comp/business but basically being punished for living in london without a garage. Unyet my bike is probably better secured then most in garages, I literally have layers on layers of security.

This year… with 4 years no claims they have quoted me 2,444… apparently the purpose of no claims is to increase your insurance.

I could argue it, i mean i will give it a gentle punt but only a gentle one because nobody else will insure a bike in my post code and i dont want to lose the one offer under 5k that i have got… people complain about insurance being over 1000… if i could put a 1 in front of my insurance i would be happy

Bike is a 66 plate BMW F700 GS first MOT in a week, I’m 41 what do they want from me :frowning: it’s not fair
Sorry you’ve all heard it before and there is literally nothing to be done.
even the tax had gone up from £85 to 90 something

look on the bright side, i don’t drink or smoke, i can’t aford to my motorcycle habbit costs too much.

god im so unhappy.

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Bloody hell that’s a mental price!!
Which company was that with?
Try Devitt and say you saw their name via the Bikeshed, I know your bike isn’t a custom one but neither is mine :wink:
They gave me a decent quote though I do have a garage but lived in zone 2 the first time they quoted and matched it when I moved to zone 3.

I do live in zone 3 and i will try, when i am a bit calmer, thank you.

that is with bennets, i tried carol nash last year they quoted 5k and seemed well dodgy. I tried a heck of a lot of other places too but Bennets (renewal) and Carol Nash at 5k where the only ones who gave me quotes everybody else said no outright.

i’m afraid that if i complain i will just get quote withdrawn and be uninsurable. ive been with bennets for 3 years now, probably wouldnt have even reacted if they had quoted the same, but to go UP the 400 quid i got them down by last year just broke me.
I dont know how this is right, I feel like i am being robbed, certainly extorted.

Sorry for the whine, yanno when you’re right at the limit of what you can bare, and one more thing comes along

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I’ve had good results this year with confused.com. Halved my car insurance.

Hey,

Like Gav says, that seems a stupidly high price. Try Kev’s mention about confused and as many comparison sites.

Give it a good go on the phone to try and get it down, worst case you can go back to the digital quote and go through that.

The no claims means nothing to a biker in London, it is all about how likely your bike is to be lifted and that is what you are paying for. Absolutely everyone I know is paying more this year than last year I counted myself lucky to only be paying £6 more plenty here (like you) are being asked for hundreds more.

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The other option is to see if there any garages to rent in your area. That might bring the price down.

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Have a look on thebikeinsurer.com. MCE give out really competitive quotes with huge excess so they are worth a look. You rarely pay the excess as if you do the damage and no one else is involved you typically just pay for the repairs. So just try to stay on and try not to prang anyone else.

Consider doing your IAM test. I’ve found their Surety insurance for those passing their advanced test, very competitive for the last few years - half every other quote I could find on price comparison sites. Though, they don’t help everyone, I know they wouldn’t insure one guy I know with a big 1200GS in the Enfield area…

Have you tried MCE? Their “voluntary” excess is crazy high (mine was £2000 in my first year) but they were the only ones that insured me in London (E15) with no garage. It first cost me £1300, then went down to £1100 and now, after 5 or 6 years, it’s down to £350 for a 2014 GSX-R750. Might be worth a go if you haven’t already.

All good advice but there must be some weird little criteria that makes your premium so high. It does seem disproportionately so based on the criteria you’ve posted here…

That’s a good point, have you tried a quote with a similar bike but different brand?

Be very very careful to avoid “insurance declined” it will be recorded as a black mark against you and you are obliged to disclose it at all subsequent quotations. Not only is this going to increase the premium but the sheer hassle factor of having to explain it laboriously every time will reduce your ability to get competitive quotes in the future.

I’m older than you, have 35 years claim free driving and 25 years claim free riding but I’ve been pummelled by the premiums recently. It is all down to two things: (1) postcodes and (2) how expensive modern bikes are to repair.

Postcodes is obvious, if you live in London, you are a likely target. The repair side needs to be considered. Any repair on a 2016 bike needs a main dealer. I had a pinched lead (physical damage, not a warranty job) going to the left hand grip on my 2017 Ducati. I took it around to my local lad who has done my MoTs for years. He wouldn’t look at it because sure enough it needed the Ducati software to reprogramme the functions. I had to go to a main dealer, I had to pay ££££ for what would have been a £20 soldering a bit of wire fix on my previous bike. Insurers have to cover this risk.

Assuming you aren’t going to move to mid Wales, the only way you can mitigate postcode is with a garage. A garage means brick built with a steel door. Insurers typically only have one field for ‘Additional Security Device’. In my case I have: manufacturer installed alarm immobiliser; ground anchor; Datatag; tracker. I can only benefit from one of these for insurance. Find out which gives you the best benefit and declare that.

The only way you can mitigate the high cost of repairs to a 2016 machine is either replace it with an older bike (I know, a terrible thought) - or check the premiums for Third Party Fire and Theft. If there is a significant savings, that would be one to consider.

Since buying my new bike in 2017 my premiums have been all over the place. But take heart, CoCompare found insurance for me this year with Hastings, for £305.

Too late to help you now but make sure you put this in your calendar and start shopping 30 days before renewal date next year.

Insurance companies operate surge pricing like airlines. I discovered this when I did a renewal quote, saved it and put it to one side. I returned to it a few weeks later to try and chip away at it, I removed cover (breakdown, legal, etc) and it went up. I then replaced the cover I had just removed and it went up further - and not by a small amount. The only way I could get back to the original quote was by logging out, clearing caches, and logging back into the saved quote.

As you get nearer the renewal date they increase the premium.

The furthest in advance you can renew is 30 days. Put it in your diary now.

that is solid advice right there. What the man speaks of is very true.

there has to be some level nof hilarity when BMW wont even quote for you… OR Bennets or 99% of all of the companies.

trawling my way through the suggestions couple questions:

  1. I’ve not heard great things about MCE am I wrong? because it so far looks like the best option with £878.75 and a TWO THOUSAND POUND excess…
  2. I have many layers of protection but you can only list one, which is the best to list, i have ground anchors, chains, locks, disc locks, cameras, BMW installed stuff, trackers, small barky dog (which quite frankly I believe is the best protection), these sites allow me to list one, plus datatag
  3. Does mileage make a big difference? currently I have it at 3000-3999 I believe my average is around 3.5 but would it be worth taken it to 2000-2999 and being more frugal with my milage?
  4. Does value of the bike make a big difference for example I have put it at £6000 should i put it at £5999 or something?

Finally is it even worth it? I love my bike, its given me a freedom i never had before, being extremely uneasy on public transport, the events of 2005 can do that to a person. But being taken for a ride by a company I thought I trusted after doing ALL the right things has made me uneasy to drive it even look at it.

I appreciate that my bucket was already full of other stressers and this is just the one that made it overflow so I may not be rational, but I am ready to throw in the towel.

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it’s an idea, unfortunately I am also extremely limited in my motorcycle choice being that I have a 24inch inner leg… believe me i have searched and researched the only adventure type bike at a height i can manage (with 2 inch heeled motorcycle boots) is the F700 GS with a seat height of 760mm and thats a good 40mm too high.

So even if another bike did quote lower (i will check a harley I do fit on them well and also who the heck wants a harley) i wouldnt fit on it.

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I joined… but, I got overly shy and too nervous to go to anything or do anything stupid huh.

Don’t let the scumbags pushing up insurance put you off. As I mentioned earlier, i highly doubt it is you personally as the risk on the insurance and more the bike.

You mentioned the additional security, so try the key one starting with Tracker then working down (datatag being last) and see what comes up best.

If all else fails, you feel it is not worth it, consider another bike, something less “desired” by the aspiring footballers wondering the streets. Even my trusty 10yr old steed got nicked but my insurance is reasonable and I live my bike.

Has to be your decision but you should not have to stop riding because of these idiots.

MCE and all the others are all underwritten by 4 main organisations so whether they are good or not comes down to customer service and you generally only experience that when you have to make a claim. So be lucky and you’ll be fine.

I have MCE because they were my only competitive quote this year. I was happy with Principal who I’d been with for years but this year I don’t have a garage so their price skyrocketed.

I know your post was more of a vent than seeking a drastic change to your current arrangements, and having just written the below I’ve gone on a bit of a rant answering a question you never asked - I certainly don’t mean any of it to be preachy or in any way detract from the fact that your insurance quotes are obscenely expensive through no fault of your own whatsoever, and you’re right that is incredibly unfair. However, I also don’t know what can really be done about that so I’ve just written down what my though process might be if I were faced with a similar issue.

So for me, owning and riding a motorcycle daily is my only non negotiable. I sometimes wonder if I only go to work so I can ride my bike, and I spend most of my day thinking about motorbikes. As such, if I lived in a location where this lifestyle’s existence were threatened I’d most certainly move.

It’s not a solution that works for everyone, that’s for sure. But to put the benefits into perspective, I live halfway to Dover yet it only takes me an hour to get to my desk in the City - in fact it takes me just as long to get from Moorgate to visit friends in Earl’s Court at rush hour.

For the price of London flat rent, I get a house with a garage. And a driveway, clean air, slower pace of life, physical separation between myself and work even though I do take work home with me it definitely helps reducing stress from long hours, community, great countryside pretty much on my doorstep, and I’m not permanently worried about my bike getting stolen. All my friends who live in London can’t imagine life outside it, but I personally couldn’t bear living there again.

For context, I was 23 on my last insurance renewal and I think just for my TDM 900 with a valuation of £3500 and 16,000 miles a year including commuting, a single vehicle write-off 3 years prior at a cost of £1900, no points, and the IAM qualification I was quoted just south of £400 - I also own a car which they often ask. I have a multi bike policy with the TDM and my VFR1200 and that’s just above £700 for the pair. I imagine with the information you supplied above in my location your insurance would be unbeliavably cheap. The difference between your quotes and my insurance is pretty much bang on how much it costs me in terms of fuel, insurance, depreciation and tax to get to work each year. I should have given you enough information to do a dummy quote on a price comparison site against your data and see if yours looks more reasonable in comparison. I imagine I would be uninsurable in that location? You’re more than welcome to PM me if you want to do the inverse and plug your details in for my postcode.

Of course you may be unable or don’t want to move and I definitely get that. In which case I really would suggest getting an older and cheaper bike. The newest bike I’ve owned is my vfr and it’s 9 years old and many owners. To me though, I still consider it my “nice” bike, am very pleased with it and its all round build quality, and quite honestly have never hankered after anything newer.

I do appreciate your frustrations on seat height but there are very very few bikes that can’t be lowered, and most can be done with kits readily available on ebay and the like. Even if you paid a mechanic to do this the whole thing would surely pay for itself in a few months through premium reduction.