The insurance industry won’t come in because in a heightened ‘culture of fear’ they can charge what they like to insure. In a recession, fewer people take out insurance overall (life, health, household etc), so the firms dig around for their own soft targets for re-gaining profitable revenue streams.
Bikers are an easy target - we’re passionate and bedevilled by the need to ride around. We’ll move hell and earth to arrange a track day. In the end, we’ll pay whatever it takes to get the insurance.
The best way to deal with the insurance firms is (1) secure your bike as completely as possible - so that overall, thefts reduce; (2) bargain very, very hard with them on the cost - do not take it lying down, call around and play them off eachother, even take out non-comprehensive and lay the bike up (securely) until you can get a better deal; (3) basically do everything as a community to deny them revenues.
Eventually, they’ll find the cost of paying for stolen bikes is so much that they will stop relying on simply upping policy prices, but start looking at how to reduce the cost side of their profit equation.
That would mean full-on insurance industry associations coming together to protect their profits (or reduce their losses), and they can do that by cutting internal headcount, or helping to prevent bike thefts.
btw apologies - I saw the article on the homepage before I read the first post here, and I did gob off. Sorry. But they do deserve it.
Make sure to keep an eye on other bikes; pay attention to alarms and just have a peek to see what’s going on; lock up securely (Almax really!); fit a BikeTrac; or simply buy a “Tracker Prime”.
If we can reduce the revenue the criminal gangs make off bike theft, they will turn their attention elsewhere. Since we can’t control their sale prices, we must as a community reduce their supply of stolen bikes.
One more suggestion: Make it a political issue. At election time - local or national, whatever - we should all come together and push the issue into the limelight - do this by forcing everyone to realise that the thieves don’t only steal bikes, they simply steal. Anything. They’re thieves, dealers, burglars, muggers, trainees, scouts - they get in young and see easy money (which actually ends up being peanuts to the majority - but hey, they’re ‘in the gang’)