Insurance Multibike Insurance Cost

Octoberon · Mar 22, 2022

The sun is out so I've sorted out my Street Triple 675 insurance today. I'm already insured for the MV via Bemoto so I went back to them to see what it would cost for a multi-bike policy.

My current insurer doesn't do multi-bike policies but they will 'mirror' the no-claims discount, which is always the irritation of taking out completely separate policies. The quote for the Triumph was £129, which seems reasonable and about what I expected. I already paid £310 for the MV last summer so that's a combined total (for the hard of arithmatic) of £439.

While I was at it, I asked them to check what a multi-bike policy would cost. The cheapest they came up with was £700 for the MV and and additional £42 for the Triumph. Clearly that is the more expensive option, by a cool £303!

So, multi-bike policies, convenient but not always the best value depending on what bikes you're insuring and how many you have.

Wessa · Mar 22, 2022

Octoberon said: ↑

The sun is out so I've sorted out my Street Triple 675 insurance today. I'm already insured for the MV via Bemoto so I went back to them to see what it would cost for a multi-bike policy.

My current insurer doesn't do multi-bike policies but they will 'mirror' the no-claims discount, which is always the irritation of taking out completely separate policies. The quote for the Triumph was £129, which seems reasonable and about what I expected. I already paid £310 for the MV last summer so that's a combined total (for the hard of arithmatic) of £439.

While I was at it, I asked them to check what a multi-bike policy would cost. The cheapest they came up with was £700 for the MV and and additional £42 for the Triumph. Clearly that is the more expensive option, by a cool £303!

So, multi-bike policies, convenient but not always the best value depending on what bikes you're insuring and how many you have.
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I have always found a multi bike insurance the best option for my three bikes.

andyc1 · Mar 22, 2022

Who knows how they come up with prices! Seperate policies was the cheaper option for me by a sizable margin.

Octoberon · Mar 22, 2022

Wessa said: ↑

I have always found a multi bike insurance the best option for my three bikes.
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The more bikes the cheaper it’ll get, I think. The MV kills it for me leaving the difference certainly not in my favour. Bemoto will check both multi-bike and ‘mirror’ policy if you ask them for a quote.

Octoberon · Mar 22, 2022

andyc1 said: ↑

Who knows how they come up with prices! Seperate policies was the cheaper option for me by a sizable margin.
Click to expand...

Risk profiling. Loss ratios. Profit targets. All sorts.

Baza · Mar 23, 2022

Some of the classic bike insurers, like Footman James who won’t touch anything under 25 years old will add a more modern machine on as an additional bike.

E.C.Ewe · Apr 4, 2022

It's all a rip off. Insurers will try it on if you don't know or don't realise. You can have either separate policies or multi policies. In my experience separate policies work out cheaper but more expensive if you want full breakdown/recovery etc on top. Which ever sort you go for shop around and haggle. Other thing if you have a claim on one bike on a multi policy it affects ALL your bikes so I prefer separate policies although currently have a multi one with Bemoto. They mirrored the policy when I bought the substantially newer Speed Triple RS as they said my current insurer would not cover the Speed RS!!! so had to go with another and so have different renewal dates for the bikes now as the RS is on a separate policy now. You still have to watch them like a hawk. Same for car insurers.