What chance to young riders have? (Insurance rant).

[Beemer-5]

A local lad (22), who has been riding a Bandit 600 for 3 years has just bought himself the bike of his dreams, a 2004 MV Agusta 750, which he got at a fairly handy price on E Bay.
Insurance companies are either saying a blank NO, or talking about £2,700 per year.
This seems crazy or is it really the going rate now?

[repiV]

Doesn't sound right to me.

I'm also 22, been riding 15 months, don't hold a car license, one claim and no NCB and I pay £260 for a '98 Fazer FZS600.

[trumpet600]

Big big difference between insuring a bandit/fazer amd an MV.


But even so....thats big money.

[Rawwr]

Postcode? Any claims?

Friend of mine (who does earn a LOT) paid £3,400 to insure his GSX-R600 K7.

[Beemer-5]

Rawwr said:

Postcode? Any claims?

Friend of mine (who does earn a LOT) paid £3,400 to insure his GSX-R600 K7.

He lives in Sheffield City Centre and has one speeding fine only.

[randlemarcus]

Sounds like they simply dont want the business, as their statistical model says he will crash, or it will be nicked.

Cosmetic damage on an Agusta is enough to write them off, with the cost of the panels etc.

Its almost certainly worth trying a few other brokers (BikeSure were good for me, as were MC Edwards with a zero NCB). Probably worth hiring a (brick-built) council garage (yes, even if its 1/4 mile away and utterly useless in terms of security) and seeing what difference a SoldSecure(ha ha, I know) chain makes.

[lawrence567]

I'm 22 bought a brand new limited edition GSXR600 & i got the best quote i could which was £700.
I have 3 years NCB.
The reason its expensive is cos its an MV.
Its like a 22 year old buying a 360 spider!

[Beemer-5]

I think he will pay for the first year, get the bike out of his system, then think again.