Insurance .......again!

I know I know, countless threads etc but would just like to put my tuppence worth in!
My renewal came up just now and it was over a 30% increase on last year, no claims or changes etc etc so I got myself ready to sit infront of the computer for a day trawling through the comparison sites to find a better quote to either take or challenge with. I thought sod it! I’m just going to call them up and ask why the big hike?
Got through and asked the question, the answer: ooh that does seem a lot, the underwriters send through the renewal price but these can change on a daily basis let me have a look, went through the basics and in 10 mins had the same policy with the same company for 90p less than last year! Electrics and insurance companies, they’re both there just to f#*k you up

 

Completely agree, I had the same with Bennetts. Renewal price was an increase of over £120. I spent about six hours trying different insurers and eventually got a price for my two bikes cheaper than my previous years policy with Bennetts. I rang Bennetts to tel them I would not be renewing and they quoted me a price similar to other company I had taken a policy with. Why did they not just do this on my renewal and I would have stayed with them? Because they are greedy bast@rds and are relying on people being lazy when it comes to renewals.....

 

I kinda agree with that, but I would like to know what the retention rates are against non renewals.

 

I was working with an insurance provider 18 months ago, over a beer we talked about renewals and he told me they hike renewals on the basis 80% of people are too lazy to move provider, 50% of the 80% renew at the increased price, increasing their revenues. He told me to never renew, change provider every year, flipping back and forth if required

 

I think we all knew that,but good to get it confirmed by an "insider"!

 

I’ve just had an email from The BikeInsurer with a list of quotes for my BMW which is due soon and I was quite surprised. The cheapest was over £100 cheaper than last year, at £102.
This got me thinking that I should really renew with a multi bike policy as I’m hoping to have the Daytona back on the road soon, so I did a search for some multibike quotes.
The first one I tried was Carole Nash, which came back at £920 for the two bikes!!!
I’m sure these insurance companies just have a big hat with random numbers in them for quotes

 

Yep I tried CN and got a silly quote for my two bikes. I eventually got a great price from Hastings Direct, worth a try perhaps....

 

Yeah, they came out as cheapest for just the BMW but I haven’t tried them for multi cover yet.

 

Try LV for multibike, they bettered their own quote to me for a single renewal.

 

Hastings I've been with for years and they've not tried to hike the price on me. I'm £85 per year fully comp for a single bike which to be honest seems more than fair.

Given that I can only drive one car or ride one bike at a time, I think it should be the DRIVER who is insured, rather than the vehicle. With rates differing on what you want to be able to drive within the scope of your license. Maybe that makes too much sense though?

 

Yep I completely agree, can only drive one at a time, but that would put a big dent in their profits!

 

So if you have 2 bikes, bike A and bike B. You insure bike A but not bike B.
Your insurance covers you for riding other bikes. Presumably you cannot be prosecuted for riding bike B on public roads while not insured ? Or how is that covered ?

 

What would happen though if bike no2 was stolen while you were out on no1 or both were pinched whist you were in bed?

 

As I'm fully comp I can ride someone else's bike third party, BUT only if it is insured for them. They have to have insurance for me to be able to ride it on mine.

 

I have been with Lynbrook Insurance for many years, no auto renewal, and when you ring up, a human person actually answers the call, how bizarre is that!
Their prices are competitive for me and I have several bikes with them, but under separate policies.

 

Vehicle 2 has to be registered , owned by a different person and insured by them, probably at a different address too

 

Toe in the water ever time insurances are due, play them at their own game.

 

Has anyone pressed to test on Triumph Insurance GB yet?

 

It was a hypothetical suggestion Andy.

Nope, never considered them at all?

 

I’ve always found that ‘manufacturer’ insurance is much more expensive, however they do tend to include much more as standard on their policies. I’ve only ever used it on cars personally, when they’ve offered free cover on a new car.
I guess most people will take a risk on a cheaper policy though, hoping never to have to claim.