Insurance to avoid?

[BikerOnEV]

Hi All,

 

New here and this is my 1st post here.

 

My current insurance provider, LV, wrote to me saying they are exiting motorcycle insurance business so I will need to arrange a new insurance provider on renewal (due 7th March). I went to a price comparison site and ran a quote, got prices varying from £105 to £257 (I am 53, bike licence for 5 years, 5 years no claims for bike and 9+ for car, my bike is Triumph Speed Twin). I clicked on the cheapest one and it looked OK, then noticed the insurance was provided by markerstudy, quick search showed that they have really bad reviews online. I have gone through a number of quotes and it seems all I checked (Express Insurance, Principal Insurance, Carole Nash, Bennetts, Bikesure, Triumph, MCN, Devitt, bemoto, RAC) are actually provided by the same company. prices vary, but its the same provider for all of them. The question I have is, should I actually try to avoid markerstudy becuase of its 1.3 rating on trustpilot, or am I overthinking this? How do I avoid this provider if everyone seems to be offering insurance from them?

 

Thanks

Hash

[daveinlim]

Check what cover comes with. Will it cover your modifications, your helmet and other kit, allow passengers, riding other bikes, does it have legal cover etc. You'll need to click on each to find out but I'd avoid anyone with bad customer service reviews. Claiming on motor insurance is a nightmare as your cover is usually split between different sub companies. I can't say who is bad but price isn't everything 

[bonio]

You're right: the company you deal with are the brokers; the people who actually pay up in the event of a claim are the underwriters. Different brokers sell very similar policies from the same underwriters... and all at different prices. The point is that when it all goes pear shaped and you have to make a claim, it's usually the underwriter you end up dealing with, not the broker. 

When my bike was nicked a couple of years ago, it turned out that Markerstudy were the underwriters for the insurance I had bought through BikeSure. And they were fine - it took them just two weeks from me filing the claim to them sending me the cheque. I had had to argue their valuation up from "absurdly low" to "low", but apart from that no complaints at all.

[Gerontious]

I view Insurance as little more than a tax on ownership. I have not made a claim since 1997.  When the bike I owned at the time was stolen. I was living in Manchester at the time and the bike was exposed. Since then there have been less drastic  events where a claim might have been made by some people. but there's something that sticks in my craw about this. The insurer, the underwriters will claw every penny back.

 

But, if the bike is a total loss, which to my mind is the only time I would ever claim again, look at what happens, they hand you a wad of cash. always less than you want. and the only way to come out on top is to take the money and run. never have another motorbike. If you do buy another motorbike, they will have their money back. every penny.

 

I couldn't care less about the company I get insurance from. all I care about is how much it costs. Thats all that's worth caring about. I buy it because I must. and I'm damned if I'm going to pay a penny more than I have to.

Edited February 23, 2023 by Gerontious

[Mississippi Bullfrog]

With most reviews you only hear from people who have had a negative experience.  So take them with a pinch of salt.

 

I've been with Bikesure for a few years but never had to make a claim . So far it's been fine. 

 

Just accept that insurance is something uou have to put up with and focus on the more fun side of biking. 

[onesea]

With @Gerontious  on this, insurance is legalized money laundering.

 

Pay your tax don't claim unless you have to. With doing basic checks but you won't beat them.

[Pie man]

 

Insurance companies and their thieving off spring are only after your money and how much they can claim from each other. They're all good until you make a claim. Your probably over thinking it. 

 

example - we have your bike and waiting for the 3rd Party to acknowledge and value the bike, will you sign the storage agreement until this gets sorted, the agreement is between you and us and the storage is £1000 a month, but we will claim it from the 3rd party, if you don't sign, we wont be able to claim the money from the 3rd Party and will have to return the bike back to you.  Me, don't give a @uck, fetch it back, I have plenty of room for storage, then I will meet the valuer face to face and we can talk money. 

 

I have insurance because I need it to ride legally. As for reviews, a perspective of someone opinion, not worth a carrot to me. I've never experienced a good insurer or their hangers on yet, no matter who they are.  Buys your insurance and enjoy many happy years of claim free riding.