Why is insurance so high?

[OPU]

I'm looking to get a used  LXR125 at 17 for my first bike but insurance is £1.7k.

Can anybody suggest me some good insurance websites or am I doing something wrong?

[Bender]

Just now, OPU said:

I'm looking to get a used  LXR125 at 17 for my first bike but insurance is £1.7k.

Can anybody suggest me some good insurance websites or am I doing something wrong?

Try changing the bike, where are you based, is it locked away etc.

 

Your classed as a huge risk unfortunately, we've all been there when starting out driving/riding.

 

I could only insure my 4.2 xj6 for 3 months at a time when I was 18

[Fiddlesticks]

Depends on a lot of factors - postcode, garaged or not, job title, expected mileage, homeowner status, martial status, commuting included, fully comp vs. third party fire & theft, age, experience etc.

Sadly you're at the sticky end of most of that lot when you're young.

Best of luck.

[Gerontious]

insurance is high because you are an unknown risk. Simple as that. I’ve seen much higher quotes for first riders, including older than you.

[smallfrowne]

There are many factors, some you can change (bike type, cover level, excess, use) and some you can't (age, time you've held the licence, job, location address etc).

 

Play about with the ones you can change, unfortunately it's a time consuming job to go through even just a few iterations, though the rough idea has already been mentioned. Lower insurance group bike = cheaper.

 

But when I was looking for an 18yr old, there was a few hundred quid difference between even a YBR125 and a cg125 (£1300 vs £850). Originally he wanted a cbr125 but after getting a quote back similar to yours he spent 10mins bare knuckling a sand bag. 

[Fiddlesticks]

I wonder whether playing the long game would work out cheaper overall...

 

Eg. Buy the cheapest knackered old 50cc scooter you can find. Store it somewhere secure. Maybe do it up a bit.  Insure it third party only. Don't even ride it. A year later you have one years' no claims bonus, a year of "riding experience" and a fixed up scooter to sell.

 

It's no wonder electric bicycles are so popular with motorbike insurance so high.

[Bender]

6 hours ago, Fiddlesticks said:

I wonder whether playing the long game would work out cheaper overall...

 

Eg. Buy the cheapest knackered old 50cc scooter you can find. Store it somewhere secure. Maybe do it up a bit.  Insure it third party only. Don't even ride it. A year later you have one years' no claims bonus, a year of "riding experience" and a fixed up scooter to sell.

 

It's no wonder electric bicycles are so popular with motorbike insurance so high.

Third party is now an indicator that your suspect so they charge you more than fully comp

[peatear]

It is normal. Just get a good cover incase anything happens. It'll come down once you've ridden a year or so. Depending on where you live.

Example: I can get insured down south at my parents house fully comp annual payment for £300 (based on it being a 1250GS) - up here in the North East it is £2400. And that is in a garage.

 

What Fiddlesticks says works. IF you don't intend to be riding a bike immediately. But go fullycomp not third party.

[Capt Sisko]

As others have said you're young, inexperienced and an unknown risk, but there is also another factor. It's not the value of your bike/car that you're insuring, it's the value of what you're going to hit. It's an unfortunate fact of life a lot inexperienced riders/drivers will have an 'at fault' claim in the first year or two. A repair for even a minor bump can run to a couple of thousand pounds and the insurance companies know it; hence part of the reason for the loaded premium.

Edited May 13, 2023 by Capt Sisko

[Steve_M]

9 hours ago, Capt Sisko said:

As others have said you're young, inexperienced and an unknown risk, but there is also another factor. It's not the value of your bike/car that you're insuring, it's the value of what you're going to hit. It's an unfortunate fact of life a lot inexperienced riders/drivers will have an 'at fault' claim in the first year or two. A repair for even a minor bump can run to a couple of thousand pounds and the insurance companies know it; hence part of the reason for the loaded premium.

Or who you’re going to hit. Personal injury damages can run into huge figures.

 

[Bender]

32 minutes ago, Steve_M said:

Or who you’re going to hit. Personal injury damages can run into huge figures.

 

Yes it's true, you can injur both skinny and fat people.... That is what you ment

[Steve_M]

2 hours ago, Bender said:

Yes it's true, you can injur both skinny and fat people.... That is what you ment

That too, apparently.

[skyrider]

i renewed my bike insurance this week with devitt £60 fully comp which i was fairly happy with 

[Mickly]

Mines up for renewal

Latest quote has gone up from £130 to £260

But that is with the addition of 2 extra bikes that won’t be garaged so I’m not complaining 

[Stu]

Mines just come through too! 

 

Last year was 260 this year 230

 

[Ian_1986]

Mine also has just come through just on £500 which was less than last year, removed commuting and now just over £400 so reasonably happy. But car has gone up £100

[DJP]

Yep, cheapish for me this year: Just over £100 FC on the Bandit with commuting in London.

 

Car insurance tried to charge me an extra £100 though so I went elsewhere and got it down to an extra £45, I could have got it cheaper but these days I only insure with companies that I've heard of.

[JRH]

Yep, my Bandit is cheaper this year.