London Bikers, how do I get insurance?
Discussion
55, been riding 37 years and have just returned to London after a 2.5 year gap. Currently 7 years NCB, only due to a 3 year gap in insurance. Less than 3000 miles a year but unfortunately have an SP30. First points since I was a kid in the 80s.
My current insurance company cancelled my cover on my Vespa 300 when I told them my change of address, despite them covering me since 2015 when I was in London.
I got cover with MCE as they were the only sensible quote but the excess was £895. Lo and behold the scooter got nicked about a week later, not in London I have to add, but as only worth about £1200, I saw no point in claiming and ruining my cover on my car or if I got another bike.
Miserable without my 2 wheeler, and part of the point of moving back to London was to make it easier to get to various places of work on my bike and save money and time, I sat down yesterday and started hitting the compare sites and some of the more well known insurers.
How on Earth! is anyone getting insurance?
Surely all those lads on beaten up scooters and 125s delivering food can't be paying these prices.
After enjoying the ease of the Vespa 300, I tried to get cover for a T Max. Carole Nash for example.
£799 TPFT for a 2016 model. Didn't matter if I put SD&P or full commuting and business use, price stayed the same. MCE want £230 but with £2000! excess.
I started putting different 600cc nakeds in but the prices were also eye watering, and that's if anyone would quote. Quite often it was only MCE that would quote, with a sensible price but very high excess.
On a compare site I could only get a quote from MCE on a year 2004 CBR600 worth a couple of grand if that.
Then what's with the Third Party Only being more expensive than TPF&T.
Insurance company doesn't have to worry about theft, the biggest problem in London, so surely my age and experience count as a safe bet?
Finally tried something sensible for an old guy. BMW R1200GS 2014 cost £9000.
£1500 was the cheapest fully comp quote, £1000 TPF&T.
Is everyone paying stupid prices and just sucking it up? Plenty of bikes on London streets.
So if you all reply that you are in the same boat, I'll bend over and take it, but is there some way, anyway, to get reasonable cover at a reasonable price?
Very frustrating as I could fund a nice bike tomorrow but I can't justify the insurance cost.
My current insurance company cancelled my cover on my Vespa 300 when I told them my change of address, despite them covering me since 2015 when I was in London.
I got cover with MCE as they were the only sensible quote but the excess was £895. Lo and behold the scooter got nicked about a week later, not in London I have to add, but as only worth about £1200, I saw no point in claiming and ruining my cover on my car or if I got another bike.
Miserable without my 2 wheeler, and part of the point of moving back to London was to make it easier to get to various places of work on my bike and save money and time, I sat down yesterday and started hitting the compare sites and some of the more well known insurers.
How on Earth! is anyone getting insurance?
Surely all those lads on beaten up scooters and 125s delivering food can't be paying these prices.
After enjoying the ease of the Vespa 300, I tried to get cover for a T Max. Carole Nash for example.
£799 TPFT for a 2016 model. Didn't matter if I put SD&P or full commuting and business use, price stayed the same. MCE want £230 but with £2000! excess.
I started putting different 600cc nakeds in but the prices were also eye watering, and that's if anyone would quote. Quite often it was only MCE that would quote, with a sensible price but very high excess.
On a compare site I could only get a quote from MCE on a year 2004 CBR600 worth a couple of grand if that.
Then what's with the Third Party Only being more expensive than TPF&T.
Insurance company doesn't have to worry about theft, the biggest problem in London, so surely my age and experience count as a safe bet?
Finally tried something sensible for an old guy. BMW R1200GS 2014 cost £9000.
£1500 was the cheapest fully comp quote, £1000 TPF&T.
Is everyone paying stupid prices and just sucking it up? Plenty of bikes on London streets.
So if you all reply that you are in the same boat, I'll bend over and take it, but is there some way, anyway, to get reasonable cover at a reasonable price?
Very frustrating as I could fund a nice bike tomorrow but I can't justify the insurance cost.
Edited by croyde on Sunday 18th February 11:22
Hello mate.
Seems I should never have returned from Surrey and should have kept my Mustang. That was only £300 fully comp, for a £30k odd 400+bhp car that I quite often drove into and parked in that there London.
It was a Street Triple I had before the Vespa, from 2009 to 2015. It was always suffering from attempted thefts.
The last year of insurance on that was 180 TPFT in 2014.
How things have changed.
Seems I should never have returned from Surrey and should have kept my Mustang. That was only £300 fully comp, for a £30k odd 400+bhp car that I quite often drove into and parked in that there London.
It was a Street Triple I had before the Vespa, from 2009 to 2015. It was always suffering from attempted thefts.
The last year of insurance on that was 180 TPFT in 2014.
How things have changed.
Edited by croyde on Sunday 18th February 11:36
cmaguire said:
A lot of the gripes coming from older people make me wonder what they were paying historically (i.e. was it unrealistically cheap, I think yes.).
I am near 50 now and if I was living in London then £500 fully comprehensive on a T-Max would just get paid, and I would do my best to stop it getting pinched or vandalised.
The real issues with insurance costs relate to youngsters, where they almost encourage illegal use.
500 fully comp. Hold yer hand out I am near 50 now and if I was living in London then £500 fully comprehensive on a T-Max would just get paid, and I would do my best to stop it getting pinched or vandalised.
The real issues with insurance costs relate to youngsters, where they almost encourage illegal use.
The quotes from known insurers that I'm getting for that same T Max is 800 TPF&T. The fully comp was over a grand.
Like I said I'm 55. Forget the youngsters, even I'm tempted not to bother getting insurance.
Plenty of quotes for my 1000 quid 2007 Vespa were 400 quid TPF&T.
Pointless insuring it for theft at that price and pointless claiming unless I wipe out a bus queue of aspiring footballers.
Insurance was a pain price wise when I was in my 20s but now it's breaking the bank in my 50s and I'm earning a lot more.
I just tried a 2000 R6, cost £2000. In London only MCE will quote, about £200 TPF&T
Change to TPO and that drops to £140 but suddenly other companies want in on the action but at £400 to £750.
Change to my old address in Surrey only 15 miles away as the crow flies and everyone is offering TPF&T from £140 to £350. MCE isn't even the cheapest anymore.
OK safer overnight in Surrey but a longer commute and still left on London streets during day.
Edited by croyde on Sunday 18th February 17:09
Like I said earlier MCE seem to be quite often the only company that will quote.
And if anyone else does quote it is ludicrously more expensive than MCE.
Apart from the high excess, something that doesn't really bother me as I'll avoid claiming if possible just to keep my history clear, how are MCE managing to do it when the more known companies can't or won't?
And if anyone else does quote it is ludicrously more expensive than MCE.
Apart from the high excess, something that doesn't really bother me as I'll avoid claiming if possible just to keep my history clear, how are MCE managing to do it when the more known companies can't or won't?
Moulder said:
Is this paragraph not the answer preceding the question? If the excess makes it prohibitive to claim for anything but it being stolen then they are not paying out on smaller claims that other insurers would be.
True But a lot of the expensive insurers have very high excesses too.
TheInternet said:
(Dredging this up as I'm looking at getting a new bike.)
Previously I was bored to death of Croyde's repetitive moaning on this subject, but now see that the best I can do on a newish CB500F is ~£425 (FC). Only Lexham will offer anything vaguely acceptable, all the others are £750+. If Lexham go the same way in future it'll be a problem. On the plus side the first year with a new machine always adds a premium, as does first year post-test, so potential reductions there. Looks like I'll have to go ahead and cross my fingers for next year.
Previously I was bored to death of Croyde's repetitive moaning on this subject, but now see that the best I can do on a newish CB500F is ~£425 (FC). Only Lexham will offer anything vaguely acceptable, all the others are £750+. If Lexham go the same way in future it'll be a problem. On the plus side the first year with a new machine always adds a premium, as does first year post-test, so potential reductions there. Looks like I'll have to go ahead and cross my fingers for next year.
I solved the problem by moving to a nicer part of London, well Middx actually. Have a garage too.
Loads of companies happy to quote now and far cheaper premiums.
Trouble is that my rent is so much I can't afford a nice bike
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