Insurance question on a cheap bike

[DuraAce]

dapearson said:

http://www.principalinsurance.co.uk/

Great stuff. Much appreciated. I'll give them a try.

[8potdave]

CAPP0 said:

OP, have you checked price for both options? Depending (as said above) on age,location, experience, etc, sometimes there is very little difference - in fact I have seen fully comp quotes in the past which are cheaper than TPFT! Also, at your budget, you may be able to squeeze into the classic bike market (15 years old, with some insurers I believe?).

Edited by CAPP0 on Wednesday 28th January 20:17

I have yes and its about double. I'm 33, no NCB but held a bike license since 2007. If there was an advantage in paying the difference I would I was merely getting input to see what others thought and it's pretty much emphasised my opinion.

[EvoBarry]

dapearson said:

Well seeing as we're comparing prices, here's mine:

2014 Blade
2007 600RR
2008 Bandit 1250

All fully comp for £360.

That is decent, and all the more upsetting that I've just had to cough up £530 FC for my three:

2002 FZS600
2008 GSXR1000
2011 KTM SMT

SMT is a new addition though so I'm obviously paying a little higher until I've had that year :/

[whysub]

LoonR1 said:

I'm not sure where to start with this thread. Is there really such a lack of knowledge about insurance?

Definitely! I dont have much understanding but i guess it is all about risks which are based on statistics. Which is why when I played around with qoutes come renewal time, I found that it is cheaper(40% cheaper) to insure my £4500 valued Guzzi 1200 Sport than it is to insure my 18 year old, £800 valued CBR600.

Sure, I can wipe out a bus stop crowded with people on either, but the liklihood of that will never happens. My CBR is probably more at risk to theft than my Guzzi and thus insurers pay out more for stolen or crash damaged CBR's than Guzzis. And there are more CBR600's around than there are Guzzis.

Then there's age, experience, intended use, postal code and whatever to take into account so they differ wildly. No wonder insurers dont like motor insurance-if i were an insurer I'd stick to insuring houses and lives.

[LoonR1]

whysub said:

Definitely! I dont have much understanding but i guess it is all about risks which are based on statistics. Which is why when I played around with qoutes come renewal time, I found that it is cheaper(40% cheaper) to insure my £4500 valued Guzzi 1200 Sport than it is to insure my 18 year old, £800 valued CBR600.

Sure, I can wipe out a bus stop crowded with people on either, but the liklihood of that will never happens. My CBR is probably more at risk to theft than my Guzzi and thus insurers pay out more for stolen or crash damaged CBR's than Guzzis. And there are more CBR600's around than there are Guzzis.

Then there's age, experience, intended use, postal code and whatever to take into account so they differ wildly. No wonder insurers dont like motor insurance-if i were an insurer I'd stick to insuring houses and lives.

Houses aren't much fun after they started building them on flood plains and the government reneged on their promise to underwrite these losses.

[black-k1]

LoonR1 said:

whysub said:

Definitely! I dont have much understanding but i guess it is all about risks which are based on statistics. Which is why when I played around with qoutes come renewal time, I found that it is cheaper(40% cheaper) to insure my £4500 valued Guzzi 1200 Sport than it is to insure my 18 year old, £800 valued CBR600.

Sure, I can wipe out a bus stop crowded with people on either, but the liklihood of that will never happens. My CBR is probably more at risk to theft than my Guzzi and thus insurers pay out more for stolen or crash damaged CBR's than Guzzis. And there are more CBR600's around than there are Guzzis.

Then there's age, experience, intended use, postal code and whatever to take into account so they differ wildly. No wonder insurers dont like motor insurance-if i were an insurer I'd stick to insuring houses and lives.

Houses aren't much fun after they started building them on flood plains and the government reneged on their promise to underwrite these losses.

[Prof Prolapse]

black-k1 said:

Who's that for? It's the poor buggers on the flood plains who ultimately lose out.

[LoonR1]

It's not for me, I don't personally pay for any of it.