I’m hoping someone more knowledgeable than I (that’s most people) can give me some advice on an insurance dilemma. It’s renewal time for me next month and I thought I’d get it out of the way a little early. Alongside insurance renewal I’m also moving house on the same day as it expires. Get a cup of coffee, this could get intense.
I’m currently with mce and my premium for last year was circa £650 TPFT on a 2001 Fazer 600 worth £1500 parked on a ‘driveway’. My policy last April started on a 2016 Honda CBR125 worth £3800, which was nicked in September. I reported it stolen, but didn’t make a claim on the insurance because (long story) it wasn’t economically sensible to do so. On a side note it was recovered. When I got the full license and the Fazer I just transferred the existing policy from the Honda over to it at no extra cost on the premium (other than admin).
The changes for the new policy are that the bike is going from being on a driveway to being in a secure underground car park. In addition, I have 1 year of no claims and am obviously a more experienced rider.
The quote from mce is now £1000. I queried how this made sense considering the no claims and increased security of the vehicle and apparently it’s because I had a bike stolen. Despite not claiming. On Go Compare the only option available in the dropdown for the “Have you been in an accident, had something stolen, etc in the last 5 years, regardless of if a claim was made” question is “incident-no claim” but apparently mce differentiate between the types of claims that you didn’t make. Incidentally, the quote from mce if I clicked ‘no’ on the whole question is £340.
It occurs to me that the only way mce can even know about the theft taking place is because I was insured with them at the time. I’m assuming that another insurer wouldn’t have a clue if I clicked the ‘no’ button. What do you guys think I should do?
In both scenarios the second best price is Lexham Insurance, whose price doesn’t change no matter whether I pick yes or no.
Your best bet is to phone around rather than use the online dropdowns
Reasoning with a human is much easier than with an autobot. In the world of mbike insurance you can still haggle prices down over the phone
Increased security, full licence, ncb are going to drive your premium down but larger capacity, changes to ogden rulings and general insurance inflation are going to drive your premium up. I think given those driving factors, £340 would be a very good deal indeed and I would definitely quote that when you are on the phone: that would be my target in your situation
Btw if they ask have you had a bike stolen in the last five years regardless of claim - and you say no - then you’ve committed fraud. Which means that any insurance is invalid (which can have quite serious consequences if you were in an accident.)
Other than that warning; talk to some directly or try some of the brokers they might be able to run through some options to get that premium down.
Aand this is why when I crashed my bike I didn't tell my insurer. I fixed it myself and they don't need to know that it's been involved in a crash
me_groovy
Unfortunately thefts get flagged when you report it to the police.
Aand this is why when I crashed my bike I didn't tell my insurer. I fixed it myself and they don't need to know that it's been involved in a crash
me_groovy
I think there's a difference between loosing it on a bend; and a full on traffic incident with other injured parties etc.
No matter how “cheap” MCE appear I would steer clear. Last November I asked around having had a very low quote from MCE and folk I know warned me off in no uncertain terms. One had MCE cover and ended up having to take them to the Insurance Ombudsman when they cocked up his claim. I would suggest Bennetts or Aviva.
No matter how "cheap" MCE appear I would steer clear. Last November I asked around having had a very low quote from MCE and folk I know warned me off in no uncertain terms. One had MCE cover and ended up having to take them to the Insurance Ombudsman when they cocked up his claim. I would suggest Bennetts or Aviva.
jjmurphy
I heard the same bad reviews about MCE, but their quote for me when I first started riding was less than half the nearest competitor so it seemed worth the risk. Thanks for the recommendations guys, I'll give them a look.
I have heard of people losing their NCB because they rang their insurer to discuss the possibility of claiming some accidental damage on a comprehensive policy. After discussing the excesses payable they decided not to make a claim. Nevertheless the call was logged and it counted as a claim. They lost their NCB.
Your point about “getting it out of the way early” is very important. Renewing my car’s policy one year, I ran a search on a comparison site and saved the results. A few weeks later I went back and omitted certain elements of cover, in an effort to reduce the premium, but the premium went UP. Thinking there was some mistake I added those elements back in and the premium went up even further. I closed the window, cleared by browser’s cache and logged in again and the originally saved cheaper price was available again.
What I learnt from this is they increase the premium as you get closer to your renewal date. You can get quotes from 30 days before renewal - that’s when the offers are cheapest.
Try Carole Nash as well (if you haven’t already). For a 2001 reg bike, they should be able to offer their ‘semi-classic’ policy (don’t ask why they call it that), and I’ve found them to be pretty good in the past (have had 2 bikes with them, and coming up for 4 years or so)
Never used principalinsurance before, but this year they gave me for a bandit650 '08 in a garage with 3 years NCB - £145 TPFT. Plus, it insures me to ride other (insured) bikes. They were the cheapest ones on comparison websites this time.
I guess I’ll check them out when I come to renew in the summer then!
Am currently at £345 on an 02 ZX9R (‘garaged’), fully comp inc helmet & leathers, with £125 excess (& 5 years NCB currently - this year will make it 6)
I’ve just run my car insurance through Compare the Market & Go Compare - quotes from Admiral on exactly the same info, excess etc. come up as £453 on one & £353 on the other!
Dont bother with insurance just take your number plate of and it seems you are fine to ride around london freely uninsured doing what you like with no problems from the police:)
