Insurance...is it being affected by the credit crunch?

[riktherider]

ive been doing some quotes recently, and everything seems a bit cheap from what i remember! i havent really got a quote for a little while, but something like an 05 fireblade or gsxr is only around £500 fully comp.
Are insurance companies being affected by the credit crunch or is it just my luck that things are going down for me right now? doen a quote for the sv and fully comp was only £160!

[G]

Not something I have noticed.....done a few qoute and mine are generally more than I pay now or the same. :( reached the might 25 as well and have an extra years NCD

[riktherider]

im only 22! soemthing weired going on. oh well, im not compaining!

[G]

They wanted £550 off me last year fully comp.....this year they want £525ish :( Robbers

[454697819]

technically it should go up, as insurance is invested in stocks, thats how they make thier money, if stocks have a bad time so does insurance...

it could be the premiums changing in general as buying insurance seems to me more expensive in the summer than when I buy it in the winter.

[G]

technically it should go up, as insurance is invested in stocks, thats how they make thier money, if stocks have a bad time so does insurance...


I appreciate some is invested but I thought insurance profit was made on risk.......I.e they collect £200m in premiums.....claims are made for £70m ......they make £130m profit.

They legally have to have the money in the bank to cover if everybody claimed I thought......which would make investing the money not an option.

[454697819]

I appreciate some is invested but I thought insurance profit was made on risk.......I.e they collect £200m in premiums.....claims are made for £70m ......they make £130m profit.

They legally have to have the money in the bank to cover if everybody claimed I thought......which would make investing the money not an option.


I honestly dont know the technicalities, but i though they made money by investment?

[riktherider]

i wouldnt have thought the seasons would affect the prices as its a yearly purchase, not like tax when you can buy it just for 6 months through the nice period!
and i would have thoguht that the prices would ahve risen due to stock etc. just hope the prices dont rise when i get the nwe bike, otherwise i will be pi**ed!!!

[Grinch]

Well I'll worry about it next year.

[Viney]

I dont think so. Maybe you are just in the 'zone' for decent quotes.

I recently reisured vernas SV, and it wasnt far off last years quotes in all honesty. But then it is about £112 :)

[Paws]

Itl either be youve got a good postcode, also add in taht its winter so our rates are lower and also we are doing more offers

[startrek.steve]

They wanted £550 off me last year fully comp.....this year they want £525ish :( Robbers

you dont suppose its us useless gits who keep falling off do you?

[aarond]

i don't know if its affected or not but when i first tried to get a quote for the tl 3months ago quote was circa £2000 tpft. Now i just got a quote multi bike policy for the sv and tl for £600 tpft im loving it!

[riktherider]

^^^^^ precisely!! its really weired!!! i done a quote for the sv, bandit 1200 and a z1000, came back at £650, changed the bandit for a ktm supermoto and it came up to 1600!!! crazyness! but still, these prices are dam good. petrol falling, insurance falling. now just bike prices to fall then good times all around. shame cars arent cheap for me to insure! thats a complete rip off!

[aarond]

, these prices are dam good.Agreed
petrol fallingyes
insurance falling.yes
bike prices to fall hope not:)

its handy though and its coming at a good time for me at least i was have to start not going out so much on the bike as the cost of doing it was rising but now its peaked and started to come down again its all good (for the time being, touch wood[-o<)

[Sean_C]

This being my second year of insurance, I'd hoped it'd go down a bit, but I got an excellent quote.. 420 quid tpft with mods declared, 20k miles etc and only 1 years NCB. :)

[sauluk]

Insurance companies tend to look for high yield stocks not growth stocks. Just like pension companies, they look for high dividends rather than capital gains. So the fact that stock values have plummeted means little unless they sell them off, in fact as they have plummeted most of them are paying higher yields to compensate.

[shonadoll]

I was very pleasantly surprised- my fully comp insurance was £142 this year as opposed to a good £50 more last year.

[zsv650]

mine used to be around the £180 mark for the old sv this ones around 90 dearer but ought to be a lot cheaper next year i hope.