I used Bennets last year and they put my insurance up from £389.00 to £468 this year. That's over 20% increase. No claims or accidents of any kind , no changes whatsoever. I went with another company which was much cheaper. There loss not mine.
My big issue to add with bikes is options. When you buy a new BMW and add the tech pack. You don't have to tell the insurance company. When you buy a bike and add a race pack you do. I got my first bike after a 30 year break. New 24 CBR650R. Put it into comparison site. £300 fully comp. Had a chat with some other insurers and mentioned the pack. They said as the dealer fits it, it a modification and must be declared. So quote went from 300 to 650. Insane. So it's better to buy a more expensive bike that you don't need any options on to insure than adding any single pack from the dealer.
I've twice had the problem with getting cover for a brand new model. The first one was the Yamaha Tracer 700. The second was this year, with the Himalayan 450. Both times, I've had to set it up again with a new company and faff around transferring the no claims. PIA!
had exactly the same when i sold my Africa Twin 1100 and bought a Himmy 450, was told by insurance they didnt have enough info on the new model to give me a quote because they dont know how much thieves want them yet, and most ins companies just point blank refused to quote me, took me 4 days to get 1 quote which was ridiculous
@Bikegirl2022 I still believe our system works better. Because insurance companies know that if their policy's are too expensive. Then some drivers will choose not to have any insurance cover at all, and just take the gamble. And believe me , many do....
@alancrisp1582 We all pay for non - insured drivers, it's a percentage of your premium and goes into a fund to cover uninsured losses (or at least it always used to).
I'm late 40s and have done the inevitable. I returned to motorcycling after 15yr break, without any no claims history and bought a litre superbike. Always wanted one, but never owned one or ridden one before. Live in the busy South of England home counties and got fully comp with a(the)traditional well known insurance company for £400 a year, with all the breakdown, legal, kit cover included. I bit their hand off. I'd budgeted for max £1000. Just renewed it again this year for £340. I'm happy. Hopefully never have to use it. That's normally when the trouble starts.
That’s great to hear, it’s definitely makes a difference for me and you in the over 40s club. But could you imagine getting that bike when your 21, it’s would be crazy, enjoy the ride, buddy 👍
I renewed a few months ago. Although I have an alarm, tracker, chain, ground anchor, disc lock and a camera pointing at the bike. The quotes were cheaper (on the phone with three different companies) when I only listed the tracker and disc lock. As soon as the other measures were considered, the quote jumped dramatically.
It’s very hard to set up an insurance company so competition between insurance companies is limited which doesn’t help the consumer and is a real problem. There’s plenty of brokers but brokers are not the insurance companies taking the risk and there are far fewer insurance companies. Legal cover is often on your home insurance also which means you don’t need it on your motor policy. Manufacturers like Ducati should set up their own insurance companies.
I’m a retired insurance assessor, when you value a vehicle or bike it can be complicated. The assessors are audited a lot and have to show proof. The easiest way to explain is can I replace my vehicle like for like within a local distance at the price being offered and show them the car and garage it’s in .
I opened a claim thinking I was going to go through with it, then after 3 weeks I closed it without claiming anything at all. Now I have to declare I've made a claim even though I haven't received a single penny pushing my quote up by £30. How unfair.....
Bemoto have been great for me, if a bike can’t go on the multi-bike policy because the underwriter won’t allow it to be, then they mirror the NCD on a new standalone policy 👏🏻 They typically always come out cheapest for me and my off-road bike is on a standalone policy and is less than half what you were quoted for your husky!
Hi guys good show, my experience 2 years ago I had accident I hold my hands up first in 42 years I do about 15000mil a year my fault don't know what happened to this day, but when I came to re insure it was cheaper I even had to ask three times to make sure that they had put the accident down, even recorded what they said. Stay safe 🙏
cheaper for me to insure a bike if its in a garage with no security whatsoever just the garage door lock than it is to insure my bike under cover outside in garden with 2x cemented ground anchor points with oxford beast chains with locks which are grinder proof & platinum secure rated, tracker fitted, disc alarm lock,brake lever lock, cctv on 24hr recording, brake lock and ring door bell all behind a locked steel gate.........makes absolutely no sense whatsoever & leads me to think they just randomly make prices up to rip you off.
I agree I’ve got a garage that’s easy to break into and a shed that’s heavily secured with locks, ground anchors, cctv, motions sensors, but because it’s made of wood the insurance companies don’t like it 😂
Im 64 .was looking to buy an aprilia rsv tuono from 2000s . cheapest qoute was over £600 tpft.same amount for other Italian bikes .got my eye on a 2002 triumph sprint 955i . Cheapest qoute £170.bought the triumph and love it .all qoutes were with no ,no claims discount.seems italian bikes are expensive to insure .also got a qoute for sv 1000 which was same value and performance as tuono .£97.00 😮
We must have it good here in Australia. Not had any complaints. My Insurance Company,SHANNONS, has been the Best for 30 years. I have 8 Vehicles with them, I've had a few Claims (Bikes). Total Annual is c.$6,000 = GBP2500.
In many instances an independent insurance broker offering motorcycle insurance will be able to source appropriate cover. The broker will undertake the necessary communications with insurers for you, and offer advice and feedback. The reality is that the best, or widest protection, is unlikely to be the cheapest.
I pay £790 for two bikes (2012 1100cc Ducati and a 2016 1200cc Sportster) kept on private property in SW London. If I had to keep them on the street rather than private property, I guess the premium would treble or not even be offered.
I've decided to get the minimum legal insurance required and keep enough money aside to replace the bike if I ever needed to, which will drop with every year the bike depreciates. If you live inside the M25 and don't have a garage expect a fully comp policy to be equal to 50% of the value of the bike, you're treated as a money cow regardless of how safe the area you live is, no claims bonus, or the level of security you have. The whole thing is a legalised scam that punishes you and recoups it's costs should you ever need to claim.
I bought the new BMW M1000r back in 2023 was riding a BMW S1000r didn’t think much about the insurance i knew it would go up because the fact its a new bike, was paying £145 rang my insurance company they wouldn’t insure me on the new bike, so went on comparison sites but there was no option for the M1000r obviously because it was a new model. I managed to get cover from bennets but £660 i had to go for it the bike was been delivered. A year passed my renewal come through from bennets it had increased, so im back to square one managed to get it from Hastings Direct £360 i have now got a second bike a 2001 Honda VFR i need to cover dont know if its classed as a classic but not looking forward to the next renewal 😩
My bike was stolen while at a dealership being MOTd I was not last to ride or the last to park her but this year I last all but four years of a full no clame history so went up from 550 for two bike went to 1275. They just know youvhave to gave it
In March I declared that I'd semi retired at the age of 56 my multi bike policy with BIKESURE went from£550 to £1350 but I didn't increase the policy mileage
You’re there to be exploited, by the insurance companies , and repair shops . It’s okay saying you put all the locks on, if you miss one off your bike and it’s stolen you’re not insured. You must always put the steering wheel lock on. Yes they kick them off. Safe riding 😢
Insurance is absolute scam. Insurance companies only pay out a tiny percentage of their income from insurance policies that they ‘sell.’ Our glorious government should offer basic insurance at a low price, THEN if insurance companies want to offer extras, they can then charge a little more. Perhaps insurance companies should insure the person, not the vehicle? 🤔
As a very mature motorcycle owner .Watching the antics of "Riders " ( Generaly young people ) would you Insure them !. A point you miss is the damage which can be done + the human factor of injuries death ect. Should put experience / age of riders in groups not putting us all together.
Are you sure that when adding bikes to a classic policy, the classic isn't meant to be the main bike on the policy? In that, I mean the classic is the bike with the highest mileage.
@thatbikersimon Fair enough. That's good to know, I have two 1997 bikes, but I'm not sure if they qualify as classics yet. Currently, I have a multi policy with those, a 2023 Triumph and 2016 Honda. I will be shopping around next May.
They’re obviously more of a risk and age would be a consideration, I remember when I could ride anything at 21 years old and I tried to insure a Honda fireblade and got a quoted £3,900 in 1995, that “probably saved my life. So it makes sense
@thatbikersimon Simon i speak from many years of bike ownership First Bike James 200cc Captain 1962 . Paying £185 for Honda vfr 1200 but every year have to call to get back to sensible figure. This year " I see your car is with us, lets see what we can do" . £245 to £185. Changed anual milage from 4000 to 3950 !!. Dropped bike value £250 !!. Same bike last 10 years. Same insurer 6 years.
The yearly insurance go around is my most hated time of the year , it wastes time, is frustrating, pointless and hediously expensive. Insurance is a con. The whole excess ploy is just the real cost of your insurance, oh yes I'll pay the first £500 of a claim? What's that all about.? Con scam rip off .....
there only there to make MONEY !! how can a driver / rider have maximum no claims , but then have no no claims if they want to add an additional vehicle or bike ??? HUH !!!
I used Bennets last year and they put my insurance up from £389.00 to £468 this year. That's over 20% increase. No claims or accidents of any kind , no changes whatsoever. I went with another company which was much cheaper. There loss not mine.
My big issue to add with bikes is options.
When you buy a new BMW and add the tech pack. You don't have to tell the insurance company.
When you buy a bike and add a race pack you do.
I got my first bike after a 30 year break.
New 24 CBR650R.
Put it into comparison site.
£300 fully comp.
Had a chat with some other insurers and mentioned the pack.
They said as the dealer fits it, it a modification and must be declared.
So quote went from 300 to 650.
Insane.
So it's better to buy a more expensive bike that you don't need any options on to insure than adding any single pack from the dealer.
Hi Simon superb video and very informative Love the slight change of direction One of your best videos to date 👏.cheers ian
Glad you enjoyed it
I've twice had the problem with getting cover for a brand new model. The first one was the Yamaha Tracer 700. The second was this year, with the Himalayan 450. Both times, I've had to set it up again with a new company and faff around transferring the no claims. PIA!
had exactly the same when i sold my Africa Twin 1100 and bought a Himmy 450, was told by insurance they didnt have enough info on the new model to give me a quote because they dont know how much thieves want them yet, and most ins companies just point blank refused to quote me, took me 4 days to get 1 quote which was ridiculous
This is such an important topic being a legal requirement! although difficult to make into an exciting video I guess it’s good to discuss 👍🏼
I totally agree!
Legal ⚖ requirement ?. Maybe where you live. But not in my country New Zealand. ..
@@alancrisp1582 if it wasn’t a legal requirement here I’d be interested in who would pay for it by choice! Especially with a long no claim history! 🤔
@Bikegirl2022 I still believe our system works better. Because insurance companies know that if their policy's are too expensive. Then some drivers will choose not to have any insurance cover at all, and just take the gamble. And believe me , many do....
@alancrisp1582 We all pay for non - insured drivers, it's a percentage of your premium and goes into a fund to cover uninsured losses (or at least it always used to).
Let’s face it they’re only getting worse
It’s been a tough week trying to renew something that should be so simple
I'm late 40s and have done the inevitable. I returned to motorcycling after 15yr break, without any no claims history and bought a litre superbike. Always wanted one, but never owned one or ridden one before. Live in the busy South of England home counties and got fully comp with a(the)traditional well known insurance company for £400 a year, with all the breakdown, legal, kit cover included. I bit their hand off. I'd budgeted for max £1000. Just renewed it again this year for £340. I'm happy. Hopefully never have to use it. That's normally when the trouble starts.
That’s great to hear, it’s definitely makes a difference for me and you in the over 40s club. But could you imagine getting that bike when your 21, it’s would be crazy, enjoy the ride, buddy 👍
Hi Dirk
Had a similar experience not quite as low. Who was the policy? Got mine through GoSkippy.
I renewed a few months ago. Although I have an alarm, tracker, chain, ground anchor, disc lock and a camera pointing at the bike. The quotes were cheaper (on the phone with three different companies) when I only listed the tracker and disc lock. As soon as the other measures were considered, the quote jumped dramatically.
It’s very hard to set up an insurance company so competition between insurance companies is limited which doesn’t help the consumer and is a real problem. There’s plenty of brokers but brokers are not the insurance companies taking the risk and there are far fewer insurance companies. Legal cover is often on your home insurance also which means you don’t need it on your motor policy. Manufacturers like Ducati should set up their own insurance companies.
and add on there are now 2 underwriters recently who have stopped doing motorbike insurance and that competition has got less
It’s all a scam..
Here here 👍
I’m a retired insurance assessor, when you value a vehicle or bike it can be complicated. The assessors are audited a lot and have to show proof. The easiest way to explain is can I replace my vehicle like for like within a local distance at the price being offered and show them the car and garage it’s in .
Thank you for the information, it’s really helpful to get a assessors point of view, so many different angles on this topic 👍
I opened a claim thinking I was going to go through with it, then after 3 weeks I closed it without claiming anything at all. Now I have to declare I've made a claim even though I haven't received a single penny pushing my quote up by £30. How unfair.....
Mick, this is a prime example of what I’m talking about, these companies think it’s all good and fair to add charges unnecessary. Legalised robbery.
Bemoto have been great for me, if a bike can’t go on the multi-bike policy because the underwriter won’t allow it to be, then they mirror the NCD on a new standalone policy 👏🏻
They typically always come out cheapest for me and my off-road bike is on a standalone policy and is less than half what you were quoted for your husky!
Hi guys good show, my experience 2 years ago I had accident I hold my hands up first in 42 years I do about 15000mil a year my fault don't know what happened to this day, but when I came to re insure it was cheaper I even had to ask three times to make sure that they had put the accident down, even recorded what they said. Stay safe 🙏
Wow, you got lucky there.
That’s unbelievable I’ve never heard of anything like that, but what a result. Thanks for sharing 👍
cheaper for me to insure a bike if its in a garage with no security whatsoever just the garage door lock than it is to insure my bike under cover outside in garden with 2x cemented ground anchor points with oxford beast chains with locks which are grinder proof & platinum secure rated, tracker fitted, disc alarm lock,brake lever lock, cctv on 24hr recording, brake lock and ring door bell all behind a locked steel gate.........makes absolutely no sense whatsoever & leads me to think they just randomly make prices up to rip you off.
I agree I’ve got a garage that’s easy to break into and a shed that’s heavily secured with locks, ground anchors, cctv, motions sensors, but because it’s made of wood the insurance companies don’t like it 😂
Simon get me on your show. Ex financial services director for 35 years. I will show you the in and outs of cover,rules, complaints etc.
That’s some experience Colin you would of been perfect to join us 👍
@thatbikersimon if you want to call let's organise a time. Where in uk are you
Im 64 .was looking to buy an aprilia rsv tuono from 2000s . cheapest qoute was over £600 tpft.same amount for other Italian bikes .got my eye on a 2002 triumph sprint 955i . Cheapest qoute £170.bought the triumph and love it .all qoutes were with no ,no claims discount.seems italian bikes are expensive to insure .also got a qoute for sv 1000 which was same value and performance as tuono .£97.00 😮
That’s crazy, enjoy the Triumph
For new riders it's alot worcse
That’s probably why new younger people don’t want to have a bike
I abandoned multi bike policies as they couldn’t handle the values - once te exposure gets near £30k they go wobbly
I know it’s pointless having the policy. Some bikes now are 20k+
The name of the classic insurance company that allows you to add a modern bike to your policy also please 🙏
Here you go matey
RHS Enquiries
RH Specialist Vehicle Insurance
2 Birch Court Blackpole Road, Worcester, WR3 8SG
t: 0333 043 3911
We must have it good here in Australia. Not had any complaints. My Insurance Company,SHANNONS, has been the Best for 30 years. I have 8 Vehicles with them, I've had a few Claims (Bikes). Total Annual is c.$6,000 = GBP2500.
In many instances an independent insurance broker offering motorcycle insurance will be able to source appropriate cover. The broker will undertake the necessary communications with insurers for you, and offer advice and feedback. The reality is that the best, or widest protection, is unlikely to be the cheapest.
I pay £790 for two bikes (2012 1100cc Ducati and a 2016 1200cc Sportster) kept on private property in SW London. If I had to keep them on the street rather than private property, I guess the premium would treble or not even be offered.
I've decided to get the minimum legal insurance required and keep enough money aside to replace the bike if I ever needed to, which will drop with every year the bike depreciates. If you live inside the M25 and don't have a garage expect a fully comp policy to be equal to 50% of the value of the bike, you're treated as a money cow regardless of how safe the area you live is, no claims bonus, or the level of security you have. The whole thing is a legalised scam that punishes you and recoups it's costs should you ever need to claim.
I bought the new BMW M1000r back in 2023 was riding a BMW S1000r didn’t think much about the insurance i knew it would go up because the fact its a new bike, was paying £145 rang my insurance company they wouldn’t insure me on the new bike, so went on comparison sites but there was no option for the M1000r obviously because it was a new model. I managed to get cover from bennets but £660 i had to go for it the bike was been delivered. A year passed my renewal come through from bennets it had increased, so im back to square one managed to get it from Hastings Direct £360 i have now got a second bike a 2001 Honda VFR i need to cover dont know if its classed as a classic but not looking forward to the next renewal 😩
My bike was stolen while at a dealership being MOTd I was not last to ride or the last to park her but this year I last all but four years of a full no clame history so went up from 550 for two bike went to 1275. They just know youvhave to gave it
That’s a nightmare, it’s not even your fault. You would like to think the garage would take responsibility for that.
In March I declared that I'd semi retired at the age of 56 my multi bike policy with BIKESURE went from£550 to £1350 but I didn't increase the policy mileage
That’s unbelievable, what a rip off
You’re there to be exploited, by the insurance companies , and repair shops . It’s okay saying you put all the locks on, if you miss one off your bike and it’s stolen you’re not insured. You must always put the steering wheel lock on. Yes they kick them off. Safe riding 😢
Read the T&Cs I guess, but nobody does
My insurance for a brand new Yamaha Tracer 9 GT plus was £350 last year 23/24. New insurance for 24/25 - £118? Someone make it make sense.
Who was that with?
they are all thieves
Same with cars...
Insurance is absolute scam. Insurance companies only pay out a tiny percentage of their income from insurance policies that they ‘sell.’
Our glorious government should offer basic insurance at a low price, THEN if insurance companies want to offer extras, they can then charge a little more.
Perhaps insurance companies should insure the person, not the vehicle? 🤔
As a very mature motorcycle owner .Watching the antics of "Riders " ( Generaly young people ) would you Insure them !. A point you miss is the damage which can be done + the human factor of injuries death ect. Should put experience / age of riders in groups not putting us all together.
Are you sure that when adding bikes to a classic policy, the classic isn't meant to be the main bike on the policy? In that, I mean the classic is the bike with the highest mileage.
Nope, you declare the mileage for each bike, there is no main bike policy
@thatbikersimon Fair enough. That's good to know, I have two 1997 bikes, but I'm not sure if they qualify as classics yet. Currently, I have a multi policy with those, a 2023 Triumph and 2016 Honda. I will be shopping around next May.
When you see some of the Antics of motorcycle riders , especially youger generation .WOULD YOU UNDERWRITE THE RISK !!.
They’re obviously more of a risk and age would be a consideration, I remember when I could ride anything at 21 years old and I tried to insure a Honda fireblade and got a quoted £3,900 in 1995, that “probably saved my life. So it makes sense
@thatbikersimon Simon i speak from many years of bike ownership First Bike James 200cc Captain 1962 . Paying £185 for Honda vfr 1200 but every year have to call to get back to sensible figure. This year " I see your car is with us, lets see what we can do" . £245 to £185. Changed anual milage from 4000 to 3950 !!. Dropped bike value £250 !!. Same bike last 10 years. Same insurer 6 years.
The yearly insurance go around is my most hated time of the year , it wastes time, is frustrating, pointless and hediously expensive. Insurance is a con. The whole excess ploy is just the real cost of your insurance, oh yes I'll pay the first £500 of a claim? What's that all about.? Con scam rip off .....
there only there to make MONEY !! how can a driver / rider have maximum no claims , but then have no no claims if they want to add an additional vehicle or bike ??? HUH !!!
I pay 180$ a year for 2 bikes both Himilayan 452 here in Texas, all insurance companies are crooks like car salesmen. SJ
I pay 180$ a year for 2 bikes both Himilayan 452 here in Texas, all insurance companies are crooks like car salesmen. SJ
Yes exactly, there sales people not insurance companies. I paid £340 this year just for my Himi 452