How do young people afford insurance like this?
Discussion
I sold a 2011 Yamaha R1 (i had bought recently purely to move on) last week. The fella was about 5 feet 4 and looked about 14. Turns out he was 22, but anyway after the sale i asked him about insurance on a bike lile that, living in a city like Bradford. He said it wasn't too bad really, he gets TPFT for only £350. I thought that was very good UNTIL i realised he meant per MONTH.
£4,200 a year to insure a bike? Unless it was a £150,000 Brough Superior with 7 miles on the clock, i cannot fathom doing that!
£4,200 a year to insure a bike? Unless it was a £150,000 Brough Superior with 7 miles on the clock, i cannot fathom doing that!
Weso said:
Surely at 22 he's on a restricted licence so can't ride an R1 anyway?
Or I might have made that up.
Anyway f
k paying 4k a year insurance, glad I'm old.
I think if you do your full A2 test it automatically changes to a full A1 license after two years of riding. So you could in theory be riding any bike at 19. Or I might have made that up.
Anyway f
k paying 4k a year insurance, glad I'm old.As you say either way sod paying that amount.
A guy I worked with was paying £240 a month for a clio 182 at about 19 years of age. Madness.
MrGman said:
I think if you do your full A2 test it automatically changes to a full A1 license after two years of riding. So you could in theory be riding any bike at 19.
As far as I can tell there are no automatic licence upgrades these days. Between 16 and 21 you can take your test(s) four times over on the way to full license.MrGman said:
I think if you do your full A2 test it automatically changes to a full A1 license after two years of riding. So you could in theory be riding any bike at 19.
As you say either way sod paying that amount.
A guy I worked with was paying £240 a month for a clio 182 at about 19 years of age. Madness.
Unfortunately no automatic upgrades. If you do your A2, after holding it for 2 years you can then do your full A test. Mod 1 and mod 2 is required. The earliest you can do your A2 is 19, and then the earliest you can have a full A licence is 21. This is what I did and I was riding an R1 when I was 21. As you say either way sod paying that amount.
A guy I worked with was paying £240 a month for a clio 182 at about 19 years of age. Madness.
Insurance on my R1 was only £450 for the year, I'd never dream of paying more than a grand
FlabbyMidgets said:
Insurance on my R1 was only £450 for the year, I'd never dream of paying more than a grand
I get very upset at premiums that are over £400/year - I got a brand new MV F4 back in 2014 ten days after having an R1 stolen and it was £600 which I thought was outrageous at the time. The lady on the phone tried to cheer me up by telling me that scooter riders in London were paying well over £3000 pa 
I've just done the OHs 4XV R1 for next year for £95 and my new shape 2017 bike for £219 which I thought was more like it.
trickywoo said:
If he is has a trade he could well be billing £250 a day so affordability isn't really an issue.
I still can't get my head around how many people spend over £500 a month essentially hiring a car.
Billing £250 a day is fI still can't get my head around how many people spend over £500 a month essentially hiring a car.
kall for a tradesman!Double that before you will even get one out of bed!
I remember in 1989 my Norwich Union rider policy, unlimited capacity was just over a grand a year. Thats about £2300 today. I was 19 and lived at home with mum, had a good job for my age and spent most of my money on my bike HP and running it.
Different priorities at that age ... and it took a few years of paying high interest HP deals to learn some valuable life lessons about money.
At least finance is cheap now, back then interest rates were 18 to 24% on HP. You could have bought the bike twice over by the time you finished paying for it .....
Different priorities at that age ... and it took a few years of paying high interest HP deals to learn some valuable life lessons about money.
At least finance is cheap now, back then interest rates were 18 to 24% on HP. You could have bought the bike twice over by the time you finished paying for it .....
bogie said:
I remember in 1989 my Norwich Union rider policy,
I remember NU rider policies - the motorcycle insurance market was so primitive that everyone paid the same, based on capacity. 16 years old with a 50cc moped - an AR50 for me, and a TS50ER for my mate - £17.50 if I recall (July 1984). I got an RD125LC in November 1984 and I'm sure it was something like £48, although after that they started to climb.Dog Star said:
bogie said:
I remember in 1989 my Norwich Union rider policy,
I remember NU rider policies - the motorcycle insurance market was so primitive that everyone paid the same, based on capacity. 16 years old with a 50cc moped - an AR50 for me, and a TS50ER for my mate - £17.50 if I recall (July 1984). I got an RD125LC in November 1984 and I'm sure it was something like £48, although after that they started to climb.
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