V4 insurance

[DB77]

I am planning to buy a Ducati V4 but am getting blocked by quite frankly ludicrous insurance quotes. I live in SE London, have had a bike licence for 7 years and have 6 years no claims on my bike. No points or convictions and currently insure a Daytona 675.

Does anyone have any suggestions of companies to contact?

Let's not turn this into a "discussion" of how uncontrolled bike crime in the capital makes having a nice bike very difficult - I am just looking for recommendations of brokers or insurers other have successfully used please.

Thanks!

[MrGman]

I tried loads of specialist insurers to try and get my 2016 R1 at a sensible price (Sussex not london though) in the end just using the compare sites found me a quote with Bennetts which turned out to be the best deal.

Can imagine you are going to struggle with a V4

[Zakalwe]

How ludicrous are we talking?

[DB77]

Zakalwe said:

How ludicrous are we talking?

£3k sort of ludicrous.

[knitware]

DB77 said:

£3k sort of ludicrous.

I placed an order for a V4S over a year ago, I then tried to get insurance, I cancelled the order. For comparison, V4S, cheapest £2k, BMW S1000RR, £350.

The quotes reduced vastly for the V4, £550 ish.

[croyde]

I'm London, parked in tiny front garden, ridden since 1978, full no claims.

Only company I can get quotes for my current TMax and Vespa 300 is MCE.

Yes I know they are the most nicked bikes in London. The Vespa has just been returned to me after a year in some scrotes hands. Never claimed for the theft as it wasn't worth ruining my bike and car insurance.

Yet, it seems even a sensible middleweight is silly money to insure now.

[Esceptico]

Have you tried Ducati Insurance? When I wanted a Desmo I was getting quotes of over £4k but Ducati did it for less than a thousand (including two other bikes).

Have you tried adding a tracker? When I was buying a V4 last year Ducati were saying that a tracker would be necessary on a V4S as valued over £20k, but not necessary on the plain vanilla V4 (which I went for).

[daver777]

another vote for ducati insurance. try them first.

[garypotter]

I believe part of the issue is that a lot of motorcycle insurers have just stopped insuring bikes in London regardless of age experience and model, and they class within the M25 as London!. Good luck with your search

[DB77]

Esceptico said:

Have you tried Ducati Insurance? When I wanted a Desmo I was getting quotes of over £4k but Ducati did it for less than a thousand (including two other bikes).

Have you tried adding a tracker? When I was buying a V4 last year Ducati were saying that a tracker would be necessary on a V4S as valued over £20k, but not necessary on the plain vanilla V4 (which I went for).

Thanks for the input. 2200 after allowing for the 15% discount currently offered.

[Motorsport3]

How much would it be if its just 3rd party only insurance. Im running my 998s on just 3rd party. I understand that it is different kind of leap if you have a V4 but then if you keep it indoors and only taking it out for the odd weekend ride then might be worth taking the risk.

[Zakalwe]

DB77 said:

£3k sort of ludicrous.

I’m planning on getting one next year so I’ve been looking at insurance, and with the one year no claims I’ll have built up after getting my license I'm looking at similar figures. When I got my current car a couple of years ago my previous insurer wouldn’t even cover it, it’s only a 340i and I’ve got 15 years no claims built up. Insurance in London is like the Wild West, I’ll be checking out Ducati’s own insurance for sure though.

Edited by Zakalwe on Wednesday 27th March 16:25

[sjtscott]

DB77 said:

I am planning to buy a Ducati V4 but am getting blocked by quite frankly ludicrous insurance quotes. I live in SE London, have had a bike licence for 7 years and have 6 years no claims on my bike. No points or convictions and currently insure a Daytona 675.

Does anyone have any suggestions of companies to contact?

Let's not turn this into a "discussion" of how uncontrolled bike crime in the capital makes having a nice bike very difficult - I am just looking for recommendations of brokers or insurers other have successfully used please.

Thanks!

MCE were the only ones offering reasonable (sub £400) quotes FC ungaraged in East London for my 2011 Speed Triple in early 2018 for myself. Many declines to quote including bennetts.
Fixed the problem by moving out of London (didn't move to save on insurance, just a nice by product of doing so lol) £86 Garaged with Bennetts with a hampshire postcode this year.. so purely E14 postcode and no garage where I used to live at before.

[Walter Sobchak]

Just got my renewal through for my V4, £770, garaged and within the M25.

[DB77]

Motorsport3 said:

How much would it be if its just 3rd party only insurance. Im running my 998s on just 3rd party. I understand that it is different kind of leap if you have a V4 but then if you keep it indoors and only taking it out for the odd weekend ride then might be worth taking the risk.

Thanks for the suggestion but I am not sure I would be willing to risk a £20k bike without fully comp! I have found a quote at £1300 from MCE but with a large excess, will see if I can better that deal!

Cheers all

[CAPP0]

I seem to remember on a previous thread that there's a price point over which insurance premiums go crazy and/or they don't want to insure it. Could that be the case 9and also explain why the BMW is such cheaper)?

OP, try a comparative quote with a cheaper litre bike just to see whether that's the trigger?

[croyde]

DB77 said:

Thanks for the suggestion but I am not sure I would be willing to risk a £20k bike without fully comp! I have found a quote at £1300 from MCE but with a large excess, will see if I can better that deal!

Cheers all

I'm with MCE. The excess on my TMax is £2000. Bike maybe worth £6000

When my Vespa was stolen, it's excess was £900. Probably worth £1200 so didn't claim.

What I don't follow is that any company I ask to insure me Third Party only, either refuse or charge in some cases more than TPFT. Apart from crashing into someone else, and I am 56 and have ridden pretty safely since I was 17, there is bugger all risk to the insurer.

In 2015 my Street Triple was £150 TPFT, rates have skyrocketed since then despite not making any claims.

[Motorsport3]

croyde said:

I'm with MCE. The excess on my TMax is £2000. Bike maybe worth £6000

When my Vespa was stolen, it's excess was £900. Probably worth £1200 so didn't claim.

What I don't follow is that any company I ask to insure me Third Party only, either refuse or charge in some cases more than TPFT. Apart from crashing into someone else, and I am 56 and have ridden pretty safely since I was 17, there is bugger all risk to the insurer.

In 2015 my Street Triple was £150 TPFT, rates have skyrocketed since then despite not making any claims.

Exactly, I'm with MCE as well (i can see a pattern here) and that was my thought as well. If I have a huge excess anyway what is the point of paying extra for "comprehensive". I can see OP's point when he has a 20k bike.

[sjtscott]

croyde said:

I'm with MCE. The excess on my TMax is £2000. Bike maybe worth £6000

When my Vespa was stolen, it's excess was £900. Probably worth £1200 so didn't claim.

What I don't follow is that any company I ask to insure me Third Party only, either refuse or charge in some cases more than TPFT. Apart from crashing into someone else, and I am 56 and have ridden pretty safely since I was 17, there is bugger all risk to the insurer.

In 2015 my Street Triple was £150 TPFT, rates have skyrocketed since then despite not making any claims.

You raise a good point MCE in 2018 despite the premium being just sub £400 the excess was around £1100 basically meaning it meets a legal requirement and a worse case write-off/stolen situation only. Any small incidents/spills/drops you'd just cover it yourself and it wouldn't be in your interest to claim if there was no 3rd party involved and/or at fault especially.

[Motorsport3]

DB77 said:

Thanks for the suggestion but I am not sure I would be willing to risk a £20k bike without fully comp! I have found a quote at £1300 from MCE but with a large excess, will see if I can better that deal!

Cheers all

I can see your point and at 1300 it is considering accepting. As you say it is 20k bike after all and hopefully in a year or two it will halve.