Insurance tips?

[mthinesy]

Looking like I'll be paying the guts of £1500 for my first year. Been through all the compare sites, called a few companies too. Lexham come in at £1200, but reading reviews on them puts me off.

[husoi]

4 minutes ago, mthinesy said:

Looking like I'll be paying the guts of £1500 for my first year. Been through all the compare sites, called a few companies too. Lexham come in at £1200, but reading reviews on them puts me off.

You can always opt for the monthly payment although they will charge you an arm and a leg on the interest rate.

But that is just the result of new rider.

Just come to mind if a dual camera system would have any impact. 

[mthinesy]

Well that's me finished up for the day trying to get insurance. Not many will even cover me due to being a new rider and my postcode. Lexham are the cheapest at £1100 with £2000 excess!! Next is Bike Sure at £1550 with £800 excess. It seems it doesn't make much difference on security, bike value (I tried with cheaper older bikes and was getting roughly the same), but just down to being a new rider and living in Manchester. Ah well, not much I can do if I want to own a bike.

 

Apologies if I have derailed the thread a bit!

[skyrider]

2 hours ago, mthinesy said:

Well that's me finished up for the day trying to get insurance. Not many will even cover me due to being a new rider and my postcode. Lexham are the cheapest at £1100 with £2000 excess!! Next is Bike Sure at £1550 with £800 excess. It seems it doesn't make much difference on security, bike value (I tried with cheaper older bikes and was getting roughly the same), but just down to being a new rider and living in Manchester. Ah well, not much I can do if I want to own a bike.

 

Apologies if I have derailed the thread a bit!

thats not great, it seems over the top price wise

[Gerontious]

Manchester... or Salford?

 

If its Salford Im not really surprised. it will be mostly about theft. And the view insurers take on new riders being somewhat careless when it comes to theft. regardless of the security you have. 

 

Have you considered a low value bike to begin with and TPO.

 

[skyrider]

2 minutes ago, Gerontious said:

Manchester... or Salford?

 

If its Salford Im not really surprised. it will be mostly about theft. And the view insurers take on new riders being somewhat careless when it comes to theft. regardless of the security you have. 

 

Have you considered a low value bike to begin with and TPO.

 

do you mean buy a shed 

[daveinlim]

I've tried bike sure on the forum line. 

Still £700 over my renewal quote. 

Unfortunately it's double my renewal quote.

[S-Westerly]

3 hours ago, mthinesy said:

Well that's me finished up for the day trying to get insurance. Not many will even cover me due to being a new rider and my postcode. Lexham are the cheapest at £1100 with £2000 excess!! Next is Bike Sure at £1550 with £800 excess. It seems it doesn't make much difference on security, bike value (I tried with cheaper older bikes and was getting roughly the same), but just down to being a new rider and living in Manchester. Ah well, not much I can do if I want to own a bike.

 

Apologies if I have derailed the thread a bit!

Don't feel too bad. Both my mate and I being "born again" bikers coming back to it after years away got stuck with high premiums and high excesses for the first year. He's in Surrey, I'm in Gloucestershire and both bikes were relatively high end. (His definitely,  mine less so). His was garaged, mine not. Its all down to statistics. You'll hopefully be surprised how quickly the premiums drop over time.

[skyrider]

5 minutes ago, S-Westerly said:

Don't feel too bad. Both my mate and I being "born again" bikers coming back to it after years away got stuck with high premiums and high excesses for the first year. He's in Surrey, I'm in Gloucestershire and both bikes were relatively high end. (His definitely,  mine less so). His was garaged, mine not. Its all down to statistics. You'll hopefully be surprised how quickly the premiums drop over time.

i reckon i have been very lucky over the years and up to now i have never paid over £200 for bike insurance 

[Gerontious]

1 hour ago, skyrider said:

do you mean buy a shed 

No. No outbuildings required.

 

A low value bike doesn’t mean a heap. It means something that if the worst happened isn’t worth claiming for. If the OP thinks it’s bad now, imagine how much worse it would be with a claim, when renewal time comes around.

[skyrider]

3 minutes ago, Gerontious said:

No. No outbuildings required.

 

A low value bike doesn’t mean a heap. It means something that if the worst happened isn’t worth claiming for. If the OP thinks it’s bad now, imagine how much worse it would be with a claim, when renewal time comes around.

yes things would turn twice as bad 

[TimR]

13 hours ago, husoi said:

If you can build some locked shelter, like a metal shed, you then can tell the insurance company that the bike is in a locked garage. That will bring the insurance premium down.

Unfortunately there is not much you can do about being a new rider. I don't think it will allow you to add a more experienced rider to the policy to bring the premium down as you do with cars.

One thing it will also bring it down is security devices like disk locks and heavy duty chains.

Depends on their definition of a locked garage .. Most only class a brick structure as a garage ... Some don't even class concrete section garages as a garage .

 

 

I tend to go 0% voluntary excess as it only adds £30-40 more compared to paying out the extra £100's excess .

 

Weigh up the cost of adding security ie chains locks etc to the real world of the time you forget to do it etc ... Again it might cost you £40 more but it's not part of the conditions 

 

Don't give them a reason to void the policy by using false information ...yes you may get cheaper insurance but if prosecuted for fraud it will cost you a lot more for years after and lots will not insure you 

[TimR]

13 hours ago, husoi said:

If you can build some locked shelter, like a metal shed, you then can tell the insurance company that the bike is in a locked garage. That will bring the insurance premium down.

Unfortunately there is not much you can do about being a new rider. I don't think it will allow you to add a more experienced rider to the policy to bring the premium down as you do with cars.

One thing it will also bring it down is security devices like disk locks and heavy duty chains.

Depends on their definition of a locked garage .. Most only class a brick structure as a garage ... Some don't even class concrete section garages as a garage .

 

 

I tend to go 0% voluntary excess as it only adds £30-40 more compared to paying out the extra £100's excess .

 

Weigh up the cost of adding security ie chains locks etc to the real world of the time you forget to do it etc ... Again it might cost you £40 more but it's not part of the conditions 

 

Don't give them a reason to void the policy by using false information ...yes you may get cheaper insurance but if prosecuted for fraud it will cost you a lot more for years after and lots will not insure you 

[TimR]

13 hours ago, husoi said:

If you can build some locked shelter, like a metal shed, you then can tell the insurance company that the bike is in a locked garage. That will bring the insurance premium down.

Unfortunately there is not much you can do about being a new rider. I don't think it will allow you to add a more experienced rider to the policy to bring the premium down as you do with cars.

One thing it will also bring it down is security devices like disk locks and heavy duty chains.

Depends on their definition of a locked garage .. Most only class a brick structure as a garage ... Some don't even class concrete section garages as a garage .

 

 

I tend to go 0% voluntary excess as it only adds £30-40 more compared to paying out the extra £100's excess .

 

Weigh up the cost of adding security ie chains locks etc to the real world of the time you forget to do it etc ... Again it might cost you £40 more but it's not part of the conditions 

 

Don't give them a reason to void the policy by using false information ...yes you may get cheaper insurance but if prosecuted for fraud it will cost you a lot more for years after and lots will not insure you 

[TimR]

13 hours ago, husoi said:

If you can build some locked shelter, like a metal shed, you then can tell the insurance company that the bike is in a locked garage. That will bring the insurance premium down.

Unfortunately there is not much you can do about being a new rider. I don't think it will allow you to add a more experienced rider to the policy to bring the premium down as you do with cars.

One thing it will also bring it down is security devices like disk locks and heavy duty chains.

Depends on their definition of a locked garage .. Most only class a brick structure as a garage ... Some don't even class concrete section garages as a garage .

 

 

I tend to go 0% voluntary excess as it only adds £30-40 more compared to paying out the extra £100's excess .

 

Weigh up the cost of adding security ie chains locks etc to the real world of the time you forget to do it etc ... Again it might cost you £40 more but it's not part of the conditions 

 

Don't give them a reason to void the policy by using false information ...yes you may get cheaper insurance but if prosecuted for fraud it will cost you a lot more for years after and lots will not insure you 

[Gerontious]

nothing like getting your point across. 

[bonio]

New bike + new rider is bound to end up with high premium and high excess. The only good news is that is should come down quickly over the next couple of years. It would interesting to see what the quotes are like if you say you've two years NCD on a two year old licence. If it's still expensive, then it will be your postcode - and there's only one way to improve on that  

As for security devices, most of them don't affect the quote at all (I've tried). A factory fitted or professionally fitted Thatcham alarm can make a bit of a difference.  

Have you tried insurance quotes on something like an older ER6?

[dynax]

Just out of curiosity what bikes are you using for the quotes.

[husoi]

12 hours ago, TimR said:

Depends on their definition of a locked garage .. Most only class a brick structure as a garage ... Some don't even class concrete section garages as a garage .

 

 

I tend to go 0% voluntary excess as it only adds £30-40 more compared to paying out the extra £100's excess .

 

Weigh up the cost of adding security ie chains locks etc to the real world of the time you forget to do it etc ... Again it might cost you £40 more but it's not part of the conditions 

 

Don't give them a reason to void the policy by using false information ...yes you may get cheaper insurance but if prosecuted for fraud it will cost you a lot more for years after and lots will not insure you 

I understand that you have this weird fixation on me but quoting my post so many times??? 

 

[daveinlim]

5 hours ago, dynax said:

Just out of curiosity what bikes are you using for the quotes.

For mine I'm quoting on a Suzuki gsxs125

[dynax]

2 minutes ago, daveinlim said:

For mine I'm quoting on a Suzuki gsxs125

 

That'll be why the quotes are high then, try them based on a CG 125.

[daveinlim]

5 hours ago, dynax said:

 

That'll be why the quotes are high then, try them based on a CG 125.

 

I already own the Suzuki so unfortunately that won't work. 

I did have a cb125 before and really the insurance wasn't much different

[mthinesy]

I'm quoting for a new Triumph Trident. I have tried older bikes, say 2015-2018 MT07s/SV650s etc. All pretty much the same cost. Maybe £100-150 in it. This bike is my treat, something to enjoy on the weekends, so I want something nice. I'm 100% aware this comes with the added premium, just not quite as I high as I have found. I have budgeted £1000 for insurance, so I was already kinda prepared for it being pricey.

 

I've been through it all before with cars. Loved a fast Ford back in the day and it was the same story. As the years rolled on my premiums were decent, and that was in Belfast when joyriding/car theft was pretty rife.

 

I'm not in Salford. Just inside the M60 not far from Sale/Didsbury sort of area.

[dynax]

13 hours ago, daveinlim said:

 

I already own the Suzuki so unfortunately that won't work. 

I did have a cb125 before and really the insurance wasn't much different

 

Do you use it for commuting as that can hike up the premium by quite a bit.

[Mississippi Bullfrog]

I've found that 125s can be expensive to insure, with some models being more prone to theft.

 

Probably not very helpful in the short term, but once you can ride something bigger go for an older mid sized bike. They're usually cheaper to insure than a 125.