My insurance renewal, a load of pants :/

damoC

So I got my insurance renewal through for my motorbike. It was 366 a year so I phoned up to try and get it cheaper. I updated my details as I now have a full A licence (passed 4 months ago). I have a 1 year NCD aswell.

Because I now have a full licence the renewal went up to 668 a year, the guy said because I have a full licence it's more of a risk and I'm classed as a new rider ( for only having it for 4 months). Bear in mind this is a quote for the same bike I had before passing my test.

There should be a law against these theiving companies it's a joke, I have to settle for a larger excess now to get an affordable price it's not fair :mad:

Mercdriver

damoC wrote: »

So I got my insurance renewal through for my motorbike. It was 366 a year so I phoned up to try and get it cheaper. I updated my details as I now have a full A licence (passed 4 months ago). I have a 1 year NCD aswell.

Because I now have a full licence the renewal went up to 668 a year, the guy said because I have a full licence it's more of a risk and I'm classed as a new rider ( for only having it for 4 months). Bear in mind this is a quote for the same bike I had before passing my test.

There should be a law against these theiving companies it's a joke, I have to settle for a larger excess now to get an affordable price it's not fair :mad:

It's normal procedure even with a car because you no longer have supervision and you no longer to go and be retested. It shouldn't make as much of a difference with bike insurance though. Did you get quotes from elsewhere?

Car_54

But no-one is forcing you to renew with them: there are other companies out there.

As Mercdriver has said, it's normal.

marlot

It is pants that your premium goes up just because you've done the A test. Perhaps try a motorbike insurance specialist like Carole Nash?

just_trying

Merc, car and bike is different. You can pass your cbt and you have no supervision. You're free. The bike is the same, he's insuring.

My oh has been with Benetts for years, my son as new biker has been with ebike. You need to shop around.

Cash-Strapped.T32

I used the full 2 years unsupervised riding my CBT allowed me before I took my full test - I saw practically no difference in my premiums the year I passed my test compared to the year before, and I too kept the same bike - although by that time I'd learned never - ever - to renew, and to always choose a new insurer every year.

It maybe even went down a few quid, but if so that's probably due to the increase in NCB.

Could it be you're simply seeing the natural rip-off tendency of inflated prices you get with any insurer when renewing - rather than some increase due to having passed your test?
Personally I think that's far more likley than the stuff the agent told you on the phone, so as Just Trying advises, you need to shop around.

First time I had to renew my insurance I saw it more than double from the first year's premium, despite now having a 1yr NCB.
That was the first & last time I ever renewed.

Mercdriver

just_trying wrote: »

Merc, car and bike is different. You can pass your cbt and you have no supervision. You're free. The bike is the same, he's insuring.

My oh has been with Benetts for years, my son as new biker has been with ebike. You need to shop around.

Yes I'm aware of that. He might be insured with a non bike specialist especially given the answer he was when he contacted them. It could be the standard renewal punt for as much as they think they can get away with.

damoC

The company it was off is carole nash, they were the ones that told me this nonsense. I'll have a look at that ebike, i've heard bad things about bennets and there quotes are pretty expensive.

Quentin

damoC wrote: »

So I got my insurance renewal through for my motorbike. It was 366 a year so I phoned up to try and get it cheaper. I updated my details as I now have a full A licence (passed 4 months ago). I have a 1 year NCD aswell.

Because I now have a full licence the renewal went up to 668 a year, the guy said because I have a full licence it's more of a risk and I'm classed as a new rider ( for only having it for 4 months). .......

Bear in mind that part of this increase may be because you failed to inform your insurer about your change at the correct time, and they may have added the premium adjustment you should have been paying for the last 4 months of your policy year onto the new policy.

facade

The insurers are playing the numbers game. statistically, you are more likely to claim in the first year after getting a full licence, so they are trying to get in front by charging you loads more. If you reckon they are wrong, and you won't need to claim for your own 'bike, go for a massive excess and reduce the price.

The excess only affects your own 'bike, and if an accident is someone else's fault, they pay your damage anyway, if it is 50% your fault they give you 50% of your excess etc.

peter12345678910

With my insurance if I went over £350 excess my insurance would go up. To further complicate this issue if I said I did less than 5000 miles instead of 3000 per annual my insurance would go less.