Extortionate insurance

[Matty]

Hi I'm new too bikes but I was under the impression that bikes were cheaper too insure than a car. 

 

I've been wanting too get rid of my car and get a bike for a while and I've finally been given the go ahead too do so. But looking at the quotes I've got for a 125cc bike it's about the same as my 1.4 car. Looking too only save a few quid a month. Yet my friend who has just got a bike and has never driven a cars insurance is significantly cheaper. What factors do you think are causing this?

[Guest]

Could be all sorts. Location, age, value of bike, mileage, garaged over night, commuting, even your job title affects prices. If you get a years no claims under your belt it will come down quite a lot.

[manxie49]

As Goat said,  it could be all sorts, too many variables to list that will differ from company to company.  Riding a motorcycle may save you a few quid in commuting and parking costs, but most riders, me included, don't really ride one for that sole reason.  For me, going out on the bike puts a smile on my face and gives me a sense of freedom I don't get in a car.  So ..... Happy but broke ..... Welcome to the world of motorcycling.

[bonio]

First year on the bike is always expensive on insurance. They want to see you can ride without falling off before the prices come down. Your friend's experience is almost certainly contributing to the difference in price.

Edited March 13, 2023 by bonio

[Gerontious]

Unfortunately it is what it is. new riders will be hammered by the insurers as you are an unknown risk to them, risk of accident. risk of theft. This can be made considerably worse if you tick some boxes for them. No garage. A bike that its attractive to thieves (by their measure) Commuting probably too. a small collision in the thick of morning rush hour can be expensive. This is all because they have no idea whatsoever about how risky you might be. Previous experience in a car counts for nothing. The only thing you can do is just stick with it for the first year after which the premium will fall considerably. And DO NOT CLAIM. unless it's a total loss.

Think of insurance as an extra tax on riding. It will get better.

[Fiddlesticks]

I was looking to see how much it would cost to get my 22 year old on the road with a CBT as a new 125 rider (bike garaged).

Cheapest was £860, and that was Third Party Only (no fire or theft cover). Fully comp. with £400 excess was around £1250. Both included commuting, 4000 miles a year.

[skyrider]

my insurance amount including ipt is £67.78 fully comp for a yamaha xt 225 serow  

[Bianco2564]

A lad at work, 20 years old on a 125cc, insurance is £1300

[bonio]

No wonder bikers are all old geezers.

[Pie man]

Its getting costly for us older folk now too 

[fredc]

my first ever insurance cost £3.50

[Bender]

38 minutes ago, Pie man said:

Its getting costly for us older folk now too 

Wonder how @Stumanages then  

[Stu]

1 minute ago, Bender said:

Wonder how @Stumanages then  

 

I will let you know if I get there  

[Bender]

14 hours ago, Stu said:

 

I will let you know if I get there  

It's a bugger when you can't navigate or remember how to get there  

[Copycat73]

On 13/03/2023 at 10:20, Matty said:

What factors do you think are causing this?

post code .. ie. theft rate ... makes the most difference imo.

[Tiggie]

I agree with @Copycat73 

 

I have to pay a "Bradford" tax on my insurance even though I live in a small town approx 10 miles away from the city. Postcode is still a Bradford one though. If I change my address to my mother-in-laws home which is a York postcode it usually comes out a good few quid cheaper 

[Pie man]

4 hours ago, Copycat73 said:

post code .. ie. theft rate ... makes the most difference imo.

I think area codes do have some part to play. However; I think it is just a cover up for all the robbing bar stewards that are the additional 3rd parties that screw the underwriters. Ask me how I Know.  

Edited March 14, 2023 by Pie man