Insurance renewal time again!

[Froglodyte]

Last year I had a multi-bike policy with Swinton for the V-Strom and the FJR. Last years price was £242. This year came in at £230. That was a bit of a surprise, considering most people are complaining that their premiums have gone up. I also paid around £30 last year for breakdown recovery with Emergency Assist (they have just emailed me to say they have offered me a "massive discount for my loyalty this year and charged me £39! WTF?). So my total for this year would have been £269. (I am an old fart and have full NCD)
I rang Lynbrook Insurance this morning (I had heard good things about them) and was quoted £215 for both bikes with full European breakdown and recovery. I then also got a 15% discount for being a BMW club member.
Guess who is getting my business this year and who is not!

[Rookie]

That's a proper Brucie bonus.

[Phild]

My insurance runs out on 2nd May. The company I’m with are no longer insuring bikes as policy holders policies expire.

I’d started doing some quotes and cheapest was coming in at just over £240.

100% No fault accident on 18th, that’s now jumped to over £430! Seems someone knocking me off my bike means I’M a higher risk.🤦‍♂️

[purplebikeunicorn]

Yep! It's why it's always important to factor in 5 year price increases and tack that on to the claim (using your legal cover, if you have it, if needed). Bit useless after the claim is finalised but worth remembering!

[Phild]

Already got several new quotes proving I’m being penalised for someone else’s mistake.

I’ll be talking to the Claim Management company about it. It will also cause my car insurance to go up.

I know I will be out of pocket overall, but I’ll be trying to minimise it as much as possible.👍

[nigel s]

In my case ( non fault ) my insurance on my new bike went up at renewal, but just till the insurance was settled,then was dropped mid policy year (got a rebate) to a level maybe £20 above where it was.My first ever claim in 40 plus years, and hopefully my last.
 My car was not affected,But Suzuki Alto,s are so cheap to insure I doubt they bothered 

[Phild]

Wish that was the case Nigel.

Because my present company will no longer be doing bike insurance I have to change.

Before my ‘incident’ last Thursday I’d done numerous quotes on the phone and via the usual online comparison sites.

I’ve contacted several to re-quote, only changing that I don’t own the bike yet (there’s a few about for sale still) and no reg number. PLUS the non fault claim….. cheapest is £230 MORE than last weeks quotes, many far exceed that!

Asking them why? Statistically, I am now at a higher risk of having another ‘incident’, therefore I’m a higher risk to them. My car insurance company will see it the same way.🤷‍♂️

Therefore, as part of my claim I’ll be asking them to factor in that for the next 5 years (that I have to declare it) I’ll be paying more for my vehicle’s insurance’s.

👍

[Robotstar5]

My wife had a non-fault claim a few years ago, she was in the house when an uninsured driver lost it on the bend, came across the grass verge and hit her car parked on the drive, because her insurance company couldn't trace the other driver they classed it as her fault which put her premium up the following year.

[Phild]

Insurance Companies don’t like being out of pocket.🤷‍♂️

2008, I’m stationary, waiting at a roundabout when a pick up truck ran into the back of me. He admitted liable, it was recorded as a non fault claim for me….. didn’t stop my car insurance AND bike insurance increasing.🙁

[StromGeeza]

Insurance industry business practices make estate agents look like paragons of virtue in comparison.
Price gouging now (as well as profiting from the cost of living crisis) I'm sure is to recoup some of the money they got from renewals now they have to tell you what you paid last time around when you get the renewal quote. Sadly shopping around often now is usually just chasing diminishing returns.
Maybe this should have gone in the moaning old git thread...

[Phild]

Woe is me……

Picking up a replacement bike for my written off one next week..….. non fault….. my insurance has more than doubled. I’m now well over £500, and some are saying they can’t quote.

Beer from the fridge time. 🙁