Insurance, any sense to it?
Discussion
Hi all,
Biking journey began about 6 weeks ago now with a Varadero 125. After getting some advice for you fine chaps and chapettes, I've began the process for Direct Access. First session couple of days ago and got to play on an MT07, in love with bikes more now than ever.
Instructor seemed happy and reckons should progress along fairly rapidly and get Mod 1 and 2 done sooner rather than later.
Brings me into bike shopping. Not 100% sure what I fancy so casting my net wide... But insurance seems very hit and miss! Some bikes I expect to be too much are same or less than my current 125 and some bikes I expect to be half reasonable are stupidly expensive to insure... What am I missing?
Examples are Varadero 1000, £270 fully comp. Bandit 1200, £250 fully comp... Then I look at a FZ8... £518! Blackbird was £1100 but I did expect that. I just can't figure out why the FZ8 and some others are so much more. All details are same, garaged etc. Put it as passing my Mod 2 day before I want the policy to start. All run through the usual Meerkat related website.
I've insured cars for the past 20 years so I know roughly what to expect and what the insurers look at more closely, I don't have the same knowledge with bikes though and it's tripping me up.
Any hints or tips be appreciated.
Biking journey began about 6 weeks ago now with a Varadero 125. After getting some advice for you fine chaps and chapettes, I've began the process for Direct Access. First session couple of days ago and got to play on an MT07, in love with bikes more now than ever.
Instructor seemed happy and reckons should progress along fairly rapidly and get Mod 1 and 2 done sooner rather than later.
Brings me into bike shopping. Not 100% sure what I fancy so casting my net wide... But insurance seems very hit and miss! Some bikes I expect to be too much are same or less than my current 125 and some bikes I expect to be half reasonable are stupidly expensive to insure... What am I missing?
Examples are Varadero 1000, £270 fully comp. Bandit 1200, £250 fully comp... Then I look at a FZ8... £518! Blackbird was £1100 but I did expect that. I just can't figure out why the FZ8 and some others are so much more. All details are same, garaged etc. Put it as passing my Mod 2 day before I want the policy to start. All run through the usual Meerkat related website.
I've insured cars for the past 20 years so I know roughly what to expect and what the insurers look at more closely, I don't have the same knowledge with bikes though and it's tripping me up.
Any hints or tips be appreciated.
Jag_NE said:
hucumber said:
Those quotes seem cheap to me! You must live in a good area 
Seconded. I paid 500 quid in my first year (800cc bike worth next to nothing)I believe these days they’re down to the row of houses you’re in.
Jag_NE said:
hucumber said:
Those quotes seem cheap to me! You must live in a good area
Seconded. I paid 500 quid in my first year (800cc bike worth next to nothing)Area isn't bad, fairly quiet even though it's in Nottingham. What helps is the bike is in an alarmed, locked garage and my mileage will only be about 3k per year.
It was just the difference that surprised me, I expected the FZ8 to be less than a Bandit 1200 but it was over double. Just throws me abit of a curve ball as to what to look at, Bandit was if I was feeling abit brave, FZ8 seemed more sensible.
CoreyDog said:
Hi all,
Biking journey began about 6 weeks ago now with a Varadero 125. After getting some advice for you fine chaps and chapettes, I've began the process for Direct Access. First session couple of days ago and got to play on an MT07, in love with bikes more now than ever.
Instructor seemed happy and reckons should progress along fairly rapidly and get Mod 1 and 2 done sooner rather than later.
Brings me into bike shopping. Not 100% sure what I fancy so casting my net wide... But insurance seems very hit and miss! Some bikes I expect to be too much are same or less than my current 125 and some bikes I expect to be half reasonable are stupidly expensive to insure... What am I missing?
Examples are Varadero 1000, £270 fully comp. Bandit 1200, £250 fully comp... Then I look at a FZ8... £518! Blackbird was £1100 but I did expect that. I just can't figure out why the FZ8 and some others are so much more. All details are same, garaged etc. Put it as passing my Mod 2 day before I want the policy to start. All run through the usual Meerkat related website.
I've insured cars for the past 20 years so I know roughly what to expect and what the insurers look at more closely, I don't have the same knowledge with bikes though and it's tripping me up.
Any hints or tips be appreciated.
This is where we miss Loon defending the Black Magic that is insurance pricing. Biking journey began about 6 weeks ago now with a Varadero 125. After getting some advice for you fine chaps and chapettes, I've began the process for Direct Access. First session couple of days ago and got to play on an MT07, in love with bikes more now than ever.
Instructor seemed happy and reckons should progress along fairly rapidly and get Mod 1 and 2 done sooner rather than later.
Brings me into bike shopping. Not 100% sure what I fancy so casting my net wide... But insurance seems very hit and miss! Some bikes I expect to be too much are same or less than my current 125 and some bikes I expect to be half reasonable are stupidly expensive to insure... What am I missing?
Examples are Varadero 1000, £270 fully comp. Bandit 1200, £250 fully comp... Then I look at a FZ8... £518! Blackbird was £1100 but I did expect that. I just can't figure out why the FZ8 and some others are so much more. All details are same, garaged etc. Put it as passing my Mod 2 day before I want the policy to start. All run through the usual Meerkat related website.
I've insured cars for the past 20 years so I know roughly what to expect and what the insurers look at more closely, I don't have the same knowledge with bikes though and it's tripping me up.
Any hints or tips be appreciated.
The insurance approach is to apply risk levels to different pools, based on postcode, history, experience, bike etc. One of the problems with some bikes is that they just don't sell in the numbers to make the pool they're in appear less of a risk. A Bandit 1200 is common as muck so can be shown across a significant number of policies to not be a risk. The FZ8 is considerably less common so it's much harder to show it's not such a risk. This is especially true if there has been a couple of claims involving FZ8s where a small number of claim can have a very large proportional impact.
CoreyDog said:
hucumber said:
Crikey, my Speed Triple is 88 quid a month! I'm guessing you have some decent no claims?
No NCB in a bike at all. Didn't ask for my car NCB as that's at 19 years now.I'm well into my 30s though sadly but that might have been one perk to the insurance.
Bike insurance is often crazy but your quotes are very good for a new rider.
Scobblelotcher said:
That’s correct, car NCB isn’t applicable to motorbikes.
Yeah funny that. You can’t use car NCB on a bike, or bike NCB on a car. But strangely the concept doesn’t work when it comes to penalising you for claims on the other.
That contradiction is not defensible: claims record is either relevant or not.
Thanks for the advice everyone.
My point of reference on insurance was my Dad, he pays about £81 per year on a FJR1300 though he has been riding since the 70s and lives in a part of Hampshire that rarely sees human life!
£250 on a Bandit 1200 did seem cheap to me... But then £500+ on an FZ8 seemed expensive in comparison.... Though, as has been said, as a new rider with no NCB, £500+ also seems reasonable.
Think I'll need to make a shorter list then insurance quote on everything to get a price I'm happy with... Though I know I'll probably end up on a Bandit 1200/1250! Went on the back of my Dad's in the 90s and loved them since.
My point of reference on insurance was my Dad, he pays about £81 per year on a FJR1300 though he has been riding since the 70s and lives in a part of Hampshire that rarely sees human life!
£250 on a Bandit 1200 did seem cheap to me... But then £500+ on an FZ8 seemed expensive in comparison.... Though, as has been said, as a new rider with no NCB, £500+ also seems reasonable.
Think I'll need to make a shorter list then insurance quote on everything to get a price I'm happy with... Though I know I'll probably end up on a Bandit 1200/1250! Went on the back of my Dad's in the 90s and loved them since.
Dog Star said:
Scobblelotcher said:
That’s correct, car NCB isn’t applicable to motorbikes.
Yeah funny that. You can’t use car NCB on a bike, or bike NCB on a car. But strangely the concept doesn’t work when it comes to penalising you for claims on the other.
That contradiction is not defensible: claims record is either relevant or not.
Your claims history, like your conviction history, is a completely different thing to ncb. Of course your actual claims and conviction history count on any vehicle you insure. But your ncb is another matter.
TwigtheWonderkid said:
Dog Star said:
Scobblelotcher said:
That’s correct, car NCB isn’t applicable to motorbikes.
Yeah funny that. You can’t use car NCB on a bike, or bike NCB on a car. But strangely the concept doesn’t work when it comes to penalising you for claims on the other.
That contradiction is not defensible: claims record is either relevant or not.
mak said:
TwigtheWonderkid said:
Dog Star said:
Scobblelotcher said:
That’s correct, car NCB isn’t applicable to motorbikes.
Yeah funny that. You can’t use car NCB on a bike, or bike NCB on a car. But strangely the concept doesn’t work when it comes to penalising you for claims on the other.
That contradiction is not defensible: claims record is either relevant or not.
Now I really am confused...
Read on here that the SV650 is meant to be a great bike (anymore opinions greatly recieved) and they seem dirt cheap for what they are.
Run an insurance quote and came in at £186 fully comp, how can it possibly be that little for a newly passed rider?
Obviously the SV has now gone to the top of the list, it's only alittle heavier than my 125 Varadero but with 5x the power. Any reason to run a mile from the SV?
Read on here that the SV650 is meant to be a great bike (anymore opinions greatly recieved) and they seem dirt cheap for what they are.
Run an insurance quote and came in at £186 fully comp, how can it possibly be that little for a newly passed rider?
Obviously the SV has now gone to the top of the list, it's only alittle heavier than my 125 Varadero but with 5x the power. Any reason to run a mile from the SV?
I loved my SV, it's the BB MX5 really: built down to a price and performance is enough to be fun, really cheap to run, engines should be reliable, suspension and brakes are budget, some people find the standard seats uncomfortable. Corrosion will be your only worry, if it ever sees salty roads. Get one, get a couple of years NCB built up and figure out what you want from a bike then move it on for something that suits you better.
CoreyDog said:
Now I really am confused...
Read on here that the SV650 is meant to be a great bike (anymore opinions greatly recieved) and they seem dirt cheap for what they are.
Run an insurance quote and came in at £186 fully comp, how can it possibly be that little for a newly passed rider?
Obviously the SV has now gone to the top of the list, it's only alittle heavier than my 125 Varadero but with 5x the power. Any reason to run a mile from the SV?
SV650 is a very decent middleweight bike, does everything well at a reasonable price. It’s the fiesta st of the bike world (0-60 in 3’s/0-100 in 9’s) but a fair chunk faster! Read on here that the SV650 is meant to be a great bike (anymore opinions greatly recieved) and they seem dirt cheap for what they are.
Run an insurance quote and came in at £186 fully comp, how can it possibly be that little for a newly passed rider?
Obviously the SV has now gone to the top of the list, it's only alittle heavier than my 125 Varadero but with 5x the power. Any reason to run a mile from the SV?
I’d say go for it if you like the bike!
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