Insurance Seems to Have Gone Stupid

[DJP]

I fancy a new bike so I've been looking for quotes and it's getting ridiculous.

I'm after a super naked – like the GSX1000S, Hornet 1000, MT09 etc and I'm getting quotes around the £1000 mark.

Even the sensible option, like the GSX8-S is coming in at about £800.

For perspective, over the last few years I've been paying around £130 FC on my Bandit 1250.

I'm 55, clean license, full NCB and the bike is garaged.

If I can't get insured for sensible money then I can't see much chance for anyone else.

[Simon Davey]

Wonder if the time of year (new bike time) has anything to do with it? 

It's not like you're going to a demon machine from something angelic. I'm assuming that Suzy Bandit is quite "feisty".. 

[Tiggie]

My car insurance was £130 cheaper this year 

[bud]

That does sound quite expensive.  Could it be the age of the bandit compared to new bikes making the difference?

[Throttled]

I just got a quote of £180. I am 58, live in a low risk area and it is for a new bike.

[RideWithStyles]

At that age of bike any normal bike for a minor off or claim will pretty much scrap the bike off from their prospective, were as my mechanic would buy it and bring it back to sellable sale, depending on the bikes requirement and price he could get it..

Edited April 20 by RideWithStyles

[DJP]

8 hours ago, Tiggie said:

My car insurance was £130 cheaper this year 

My car insurance isn't much more than £130! And that's the joke of it: Playing with the quotes, even Third Party Only is twice as much on the bikes as I pay fully comp on a large estate car. And I'm afraid that's where it starts to look like a con. There's just no way a 200kg bike is twice the Third Party risk of 1.5 tonne car, with the same driver.

 

So I thought that maybe it's the theft aspect, but the difference between TPO and TPFT is only about £20 so it's not even that.

 

I really am at a loss to explain it.

Edited April 20 by DJP

[vstromming]

Your old Bandit and a stream of much, much, much newer and desirable bikes aren't comarable.  

 

Apples and oranges. 

 

My 1050XT has gone down about 150 from last year.  £621, no garage, no security declared, fair few bikes stolen in the area, 34 years old, full licence since 19, no endorsements. 

[Fish]

I was talking with a traffic officer who lives not that far from me and with all his years of experience and additional rider qualifications I was shocked to find out he pays a damn sight more than I do.

 

So when they ask about additional training certs it means nothing what so ever! 

 

Insurance is just one big rip off! IMHO

[S-Westerly]

Insurance is basically a tax on driving / riding. Chances of getting a decent payout if you ever need one are not good. Can see damn all justification for some of the prices rattling around.

[Bender]

Third party or tpft has historically for about 15yrs been more expensive than fully inclusive because they think either your tight and your a risk or your cutting corners and your a risk.

[DJP]

On 21/04/2025 at 22:03, Bender said:

Third party or tpft has historically for about 15yrs been more expensive than fully inclusive because they think either your tight and your a risk or your cutting corners and your a risk.

Yep, for years I was FC because it was the same price or even cheaper than TPFT but this is no longer the case (although there is basically no difference in price between TPO and TPFT).

[DJP]

On 21/04/2025 at 14:21, vstromming said:

Your old Bandit and a stream of much, much, much newer and desirable bikes aren't comarable.  

 

Apples and oranges. 

 

My 1050XT has gone down about 150 from last year.  £621, no garage, no security declared, fair few bikes stolen in the area, 34 years old, full licence since 19, no endorsements. 

 

I get it that a newer, more valuable bike will cost more to fully comp and I was prepared for that. What I don't get is how the third party component on a newer bike, of similar performance, is three times as much and way more than more than I pay on a large car.

 

That makes no sense whatsoever.

[Working Class Hero]

On 21/04/2025 at 21:54, S-Westerly said:

Insurance is basically a tax on driving / riding. Chances of getting a decent payout if you ever need one are not good. Can see damn all justification for some of the prices rattling around.

 

That's exactly how I look at it. It's like a bribe you pay in order to use the roads. Insurance is one of the biggest rackets going.

[Mawsley]

On 20/04/2025 at 23:28, DJP said:

 

I really am at a loss to explain it.

Desirable bike + London = 

[Phil1]

38yr old here, full NCB, no claims, 2004 SV650. Garaged bike. 

 

£94 for the year fully comp 

[Old and Withered]

CBR 1000F is £88, GPX750R £82, GB350......£272. The 3rd party element can't make sense as I'm much more dangerous on the gpx putting 90 ps through an old tank slapper on crossplies than the 21 asthmatic donkeys on modern sticky(ISH) rubber. I always thought it was the commuting element that put it up as the others are only insured for sdp. The cynical side of me thinks insurance companies just take advantage of popularity.

 

I'm sure some of you remember the old bennets and Norwich union rider policies. Pick a cc and ride and own as many bikes as you like up to that cc. I think the groups were 100, 225, 350, 600, 900 and unlimited. Perfect for a 350lc and you cad have as many X7s , Hustlers, ERs, and KHs you could fit in your garden at no extra cost. Happy daze.

[JRH]

16 hours ago, Old and Withered said:

I'm much more dangerous on the gpx putting 90 ps through an old tank slapper on crossplies

Someone else who had the joys of riding the GPX750R. They could be fun especially when encountering ripples in the tarmac while cornering at speed. 

This was mine.

 

[Old and Withered]

Mine is identical minus the touring gear and a neta pipe. Its having a bit of an overhaul at the moment as the camchain adjuster was rattling a bit. A few other minor jobs but getting increasingly difficult to get spares for them. They do walk a very fine line between scarey and exciting. I thought about about putting a 17" front wheel on to calm it down a bit but have to say I do kind of like it the way it is. Still a great looking bike for best part of 40 years old.

[Mississippi Bullfrog]

It's not just bike insurance that is crazy. We have a house bought as an investment due to us living in tied accommodation.  When I retire next year ( hopefully!) we lose our home. 

 

So the time has come to sell the investment property which means it will be empty for a couple of months. The insurance company we gave been with for 17 years, and never claimed, wanted to charge us £1007.00 to keep the insurance valid. The meerkat found us a policy to cover a vacant property for £187.