Optimal time for motorcycle insurance qoute

mookev

LV, my current motorcycle insurer is pulling out of motorcycle insurance. My renewal is 29th July. I seem to remember Martins program mentioning the optimum time before renewal to get quotes as insurance companies use this in their profiling. Can you remind me please?

Norman_Castle

For cars its about 21 days, no idea if its different for bikes.

worc4021

The mse tools likely have quite a bit of statistics for car insurances that lead to these price evolutions. I wonder whether it also exists or could be done for motorcycles.

 I made the mistake of using several comparison websites because my bike was getting to the renewal date and I got the cheapest one I could find (my current insurer was not amongst the cheapest). I bought the policy on Saturday thinking somewhere after the 20 day mark it would only get more expensive. On Monday I got an email from my current insurer offering me to renew 110gbp below the cheapest offer on the comparisons I had! That’s obviously ultra annoying and I will try to learn my lesson from that. But surely more people than just me would benefit from having more transparency when it comes to insuring your bike..? Any ideas?

DullGreyGuy

worc4021 said:

The mse tools likely have quite a bit of statistics for car insurances that lead to these price evolutions. I wonder whether it also exists or could be done for motorcycles.

 I made the mistake of using several comparison websites because my bike was getting to the renewal date and I got the cheapest one I could find (my current insurer was not amongst the cheapest). I bought the policy on Saturday thinking somewhere after the 20 day mark it would only get more expensive. On Monday I got an email from my current insurer offering me to renew 110gbp below the cheapest offer on the comparisons I had! That’s obviously ultra annoying and I will try to learn my lesson from that. But surely more people than just me would benefit from having more transparency when it comes to insuring your bike..? Any ideas?

MSE is owned by MoneySupermarket who obviously are an aggregator of Car insurance so they inevitably have a lot of stats from their parent company. 

Whilst Money Supermarket have a Motorbike section if you look carefully its not actually their site but a third party's thats been branded to them. As a consequence they are unlikely to have access to the same level of data that they have for Car. 

Its also unclear if the stats have been updated since the laws on pricing Car and Home changed, certainly the Infograph's haven't which would hint at it being out of date.