Insurance quote weirdness.

[milleplod]

My '56 plate RT was written off a couple of weeks ago, the policy that covered it expired yesterday, my proof of NCB from Bennetts landed in my inbox this morning. I've bought a yet-to-be-collected RT MU, so I've been shopping around for quotes, with the prang duly declared.

Using the usual comparison sites, Bennetts/Carole Nash/Devitt are all hovering around the £85 mark (fully comp, protected NCB etc) with a £175 compulsory excess and zero voluntary excess.

Just out of curiosity, I went onto Carole Nash's website and ran exactly the same info through it to see if it was any different going direct. It was. £320!!

I long ago gave up trying to work out how insurers/brokers operate, but that huge difference in price is gobsmacking.

Pete

[MikeS]

I treat my annual renewal notice as a piece of humorous fiction now.


Renewed my policy last month, letter through the letter box asking for £400, comparison sites came in at £200 (with the same company). Rang them and they matched the price, even shaved a little bit more off.


Must be part of their business model, a certain number of their customers probably don't question it.

[David.]

I'm insured with Ageas, through Carole Nash (broker). Have a Six Wheel policy for 1 car and 2 bikes. The renewal came recently, due on 25th July.
CN wanted £475, this includes £50 for UK & EU Breakdown cover, plus a £70 broker fee (not negotiable).

I don't use comparison sites, prefer to speak to someone over the phone. I got quotes from the IAM (Cornmarket IS) and Adrian Flux.
The car would be £150 with the IAM and 2 bikes £185 with AF. UK breakdown cover can be had for £60 from AutoAid, a total of £395.

Used these quotes as a bargaining tool with CN, after two attempts, they reduced the renewal to £415, saving £60.
Yes, I could have saved a further £20 by splitting insurance & breakdown cover, but decided to keep everything under one roof.

It's just a game which I'm prepared to play each year.
Discounts are usually applied to attract new business, then you get hammered at renewal, another reason for sticking with CN.

[austin1964]

I notice that some cover has noticeably reduced over the years, I A M (cornmarket) used to cover you fully comprehensive for riding your mates bikes plus brand new bikes new for old for the first 12 months, it's now first six months (would you like to purchase GAP insurance sir) another one I find really strange is your not fully insured unless you ring them and inform them of when and where you are going in Europe!

[Rod]

I switched from Bennets to Carol Nash this year, added on some extra "extras" and still came away £40 cheaper than Bennets.
You have to play the shopping around game.

[bandytales]

I've bought a ... RT MU,

What is this bike you talk of?

[heathy65]

Went with Bennetts last year at £176, their renewal this year was £240. Went on MCN comparison and got identical package with RAC for £116. Interestingly started doing it on line and it would not let me pay. Called them and whilst I was doing it it had gone up to £156. They agreed to honour the £116 quote.
Im sure they pluck a figure out of the air, then double it to see if they can get away with it.

[milleplod]

What is this bike you talk of?

Tis this, one owner, 8k miles - [attachimg=1]
Pete

[austin1964]

Looks fantastic and obviously been looked after, can you elaborate on how your last one became a total loss?

One owner 8000 miles, I think I never ride my RT and still managing to do 8000 a year! They must just go to a local shop or just do one tour a year and clean them a lot!

[milleplod]

The owner did about 5k miles in the first 2 years, then eased off a bit!
An hgv turned right across my path, I hit his front nearside wheel square on, then spent 15 mins or so on the road unable to move my arms or legs.....very, very scary that was. Things switched back on fortunately, it's left me with horrible pins and needles in both hands, restricted movement in my fingers and a few other things, all of which I'm told will wear off eventually. I'm just glad I can move around!
Pete

[MikeS]

Frightening how quickly these things can happen. Glad to hear that you're ok.

[austin1964]

Glad you're ok but sorry to hear your still suffering the effects.
Every cloud has a silver lining, you now have a lovely bike "again"

[bandytales]

I'm just glad I can move around!

Amen to that!

[LondonBiker]

You are worried about a quote of a few hundred quid?  LOL.  My insurance (2019 RT SE London 1 yr NCB full A for 25 years) is £1800.  Or about 30p a mile.


Insurance is the largest cost of ownership for me.

[austin1964]

Within the M25 some insurance companies will not even offer insurance, I presume this is because you don't have a locked garage?