What's going on with insurance prices?

[NeilM]

Just before Christmas (great timing), my car insurance was due. On February 1st, my VStrom insurance is due (more great timing).

In both cases my existing insurers have offered me cover a few quid higher than last year. And in both cases, I have been able to check prices using comparison websites and find cover at HALF the price, and not just one dodgy looking company, there are loads of offers much lower than my existing providers.

I know you only find out how good your insurer is if you are unfortunate enough to put in a claim, but the cheaper companies are all names you have heard of, and / or have a long list of positive Trust Pilot reviews.

So, needless to say, I have saved myself a few bob in 2025.

[Barbel Mick]

Have you checked that the cover you have got now is the same as your previous insurance was? Or at least sufficient for your needs.
I have found that comparison sites do offer a cheaper cover but it could be for a bare minimum cover. Do they add a premium for accessories, crash bars, panniers, after market exhaust, clothing, crash helmets, does it include legal cover etc some now charge more for a pillion. Getting it online doesn't always ask those questions or give you tick boxes for them.
Hopefully you are OK but worth checking the policy.   

[Brockett]

Insurance is a gamble
When you pay your insurance you are betting that you will make a claim.
They charge you a fee and are in effect betting that you will not make a claim.

The one "hidden" condition that I do my best to avoid is when the policy condition shows that the insurance company can nominate the repairer and that repair company may install 'used' parts. Some years ago my son suffered a smidsy. The insurance company sent the bike to a junkyard workshop who installed used parts and left the bike looking awful. He challenged the insurance company but got nowhere as they said the bike was mechanically sound.  The insurance company excuse is that the repair will be completed to a high standard of parts and safety. This, of course is untrue. 

[Upt North]

I have 0 loyalty for insurance companies, their policies and prices are scandalous. I know I won't claim unless it's a huge repair bill because if I do they will increase my premiums for years to come.
I just make sure the cover is correct for what I want and go with the cheapest from an established brand.
None of them will want to pay out or help the customer when push comes to shove.
Well done for saving some brass, it's better in your pocket than theirs.
Upt.

[pb]

My Car insurance is due later in the month so I have just received the renewal quote, £60 less than last year and that is with the same excellent insurer LV.

[Upt North]

Does that mean they overcharged you last year?

[NeilM]

Upt. That's exactly what I have done.

I looked at the current cover I have, and what was offered, made sure I had everything covered with the new policy that I wanted and pressed the GO button.

I have also checked prices in the past from existing insurers, against those available on line and they have been close enough for me not to bother changing. Last year my VStrom insurance went down. This year it was up by a few quid, but double what others were offering.

Interestingly, one of the companies offering me insurance on the comparison sites was my current insurer... £10 cheaper than my renewal price. I don't think I could get a better like for like comparison.

Brockett, you are right, insurance is a gamble, as the insurers prime directive is to avoid settling claims at all cost.

[Ianmc]

   I have enquired today to both insurance companies for my bike and car renewals that are coming up next month,The quotes are £364 for the bike,up from £204 last year,and £742 for the car,up from £384 last year.In my estimation a total rip off,these are both from Bikesure and their associated brokers.
    I am still looking obviously as I have another month left before they run out.
    My favourite for years was Carole Nash as they do a six-wheel policy,and as you cannot ride the bike and drive the car at the same time,their risk is much lower and consequently the prices are MUCH lower.Unfortunately when I reached 70 years old it stopped,as they do not let over 70’s use the six-wheel policy,very short sited in my opinion as I reckon they are missing out on a lot of customers.

[UK_Vstrom650]

Carole Nash has always been too expensive for me. It's all a risk based on their assessment on your likelihood to cause an accident. Don't take any changes in price personally, they just want to make as much money as possible. My renewal is £10 more this year, but is cheaper than any other quote from a comparison site by at least £50.

[timangus]

I paid £350 last year for my Carole Nash 6 wheel policy. I looked at how much my forthcoming CF Moto 450MT was going to cost and got a quote of £420 for the bike alone. I am hoping to sell my V strom in Feb so I don’t have the worry of insuring an extra bike for an odd period, but as one person has mentioned they don’t cover over 70 year olds, which is me next year. My insurance is due in June so I might be looking for two separate policies by then.

[UK_Vstrom650]

That sounds very ageist... Shame on them. Are there any other companies that do a 6 wheel policy? Am probably misremembering but I seem to think Hastings Direct may have done so (though I could be thinking of multi-car policies)

Should correct my earlier post - assessment is based on likelihood to make a claim rather than cause an accident.
I'm never a fan of insurance renewal time, but always shop around even if just to prove you're happy with the renewal price.

[crump]

Just noticed my car insurance is due in a week and had no renewal. Phoned them up (Saga) and they said it was sent out before Xmas. Anyway they gave me my quote over the phone.
Last year it was £238. Quote for this year £203! Excellent I say, just run the cover to make sure everything is right. Apparently my cover was for a max of 5000 miles which is a bit light so asked what the premium would go up to if I raised my mileage to 8000......came down, 155 quid. I've no idea why that is, it's blown my mind.
Anyway I'll be scrutinising it when it arrives to make sure there are no errors.