Insurance - Newbie questions

[Lukas239]

Evening all

Got my MOD2 fast approaching in 2 weeks time and although i didn't intend to get a bike immediately, i've been fully bitten by the 2 wheeled bug. Foolish to resist i spose.

So i've done a few insurance quotes on potential first bikes and been surprised at the cost. I'm currently riding a MY14 CB650F when on lessons/tests and i love it. So a quick check of the comparison site comes back as near £800 for such a bike, twice my current car premium. If i were then to change it to Third party Fire & Theft, that drops to £200 (too good to be true?).

So how does this system work? Does bike insurance run completely separate to car insurance? Would i collect no claims in the same fashion? Would adding an experienced rider as a named rider bring the premium down? Or is that simply too big/sporty a bike for a first-time rider?

For context, im 25, in a professional role, driving since 17, 8 years no claims on a driving licence with no points.

Cheers

[phil4]

Lukas239 said:

So how does this system work? Does bike insurance run completely separate to car insurance?

Yep, seperate. You occasionaly get lucky, when one insurer will "mirror" anothers NCD, but usually only with second bikes/cars.

Lukas239 said:

Would i collect no claims in the same fashion?

Yes, one complete year at a time with no claims

Lukas239 said:

Would adding an experienced rider as a named rider bring the premium down? Or is that simply too big/sporty a bike for a first-time rider?

It may do, but to be honest, as you say, you're back roughly where you were when you first passed your car test, so it's going to be expensive.

Things you could try to bring the cost down include adding a tracker or alarm or similar. Storing in a locked garage. Going for a smaller/less crashed bike. Reducing your mileage too.

None of the above are guaranteed, but worth trying.

If there was one tip I'd have - don't crash, not your bike, not your car. If you do, you'll now be declaring it to 2 insurers for the next umpteen years, and having it bump both up.

[LuS1fer]

Try bikes with a lower rating like a Suzuki SV650 to see how much lower you can get (mine was lower than a CB500R) then work out how much power you actually need balanced against insurance. You can upgrade when you've built your NCB. These days, you can tailor it via comparison sites to exclude pillions, riding gear etc etc

[trickywoo]

Bikes with no fairing tend to be cheaper to insure.

I’ve found that having owned the bike for a few months before you get a quote seems to bring the price down a bit. They don’t seem bothered whether you’ve ridden it in that time or not.

Keep an eye on the amount of excess. It can be very high on bike policies.

[Lukas239]

Find it ever so slightly annoying that I can't cash in my car NCD but if I crash a bike, I have to inform my car insurer. Double standards.

I'll get looking at SVs. Any other good first time rides that aren't gutless?

[Gavia]

Lukas239 said:

Find it ever so slightly annoying that I can't cash in my car NCD but if I crash a bike, I have to inform my car insurer. Double standards.

I'll get looking at SVs. Any other good first time rides that aren't gutless?

It’s not double standards. If you lost your car NCD when you crashed your bike then that would be double standards.

Do you see it as double standards that you have to declare points on your bike insurance that you got whilst driving your car?

If you do get a silly excess then you can insure it elsewhere for about £40 per £1000 of excess. Well worth it IMO, although some may take the piss out of me for saying this.

Don’t bother with a lock or tracker for insurance purposes it rarely makes a difference, but they make sense for peace of mind around theft.

Also don’t buy the legal expenses cover form your car or bike insurer, but it elsewhere on one policy for a much lower figure instead of the normal £30 from your insurer.

[horsemeatscandal]

I’m a similar age to yourself, working in a professional role, passed my driving test four years ago, three years NCD for that, live in a good postcode insurance-wise and paid £630 for fully comp SDP&C on an 18 month old Suzuki SV650. 6000 miles, first bike, Oxford security chain, kept outside.

Hope that helps to compare to your own quotes.

[Dog Star]

I added my OH onto my insurance for my R1 and it brought it down from 800 to under 500. She has never ever even sat on my bike.

[Biker's Nemesis]

Dog Star said:

I added my OH onto my insurance for my R1 and it brought it down from 800 to under 500. She has never ever even sat on my bike.

Can you add her to mine too please.

[Tagzy_biker]

You don't say where you live or where you intend to store the bike. These are the two biggest factors when getting bike insurance. NCD, experience, age even the bike itself won't make a dent in your quote compared to the former. A sensible, 40yo rider with no claims, no convictions, been riding for donkeys years is still going to get hammered for wanting to insure his bike on his Peckham driveway. That's life I'm afraid.