Insurance upgrades

Speaking with a few of the other[and younger members] on the site lately I am truly amazed at the quotes they are getting when trying to upgrade to a bigger,or other bike. The two cases I know of have been put off somewhat by the 3-400% increase in premium. Does this effect everyone,or is there an age where it has little or no immense impact on your premium?

I just got a comp quote on a new 955i Daytona at £400+ which I didn't consider unreasonable considering I pay £390 for my Sprint

If the insurance hikes are so great does this make the SV even more of a bargain bike ---but are people going to have to hold on to them longer till gaining big NCB's
before progressing

Never will understand insurance co's reasoning but just curious to know if others have been put off by this

[Speedy]

I pay £250 comp for my SV with 1 yrs NCB.

Now,work this out!!!!!!

I want to buy a DR-Z400,so thought about trying to get a multi-bike policy.
First quote (with my existing insurer) £900. I said: "F*$k that!"

So then phoned Suzuki ins,who then quoted me £870 I said "F*$k that too!"

I then enquired about the cost of a separate policy for the DR without my NCB,and it was approx.£500,so it would have been cheaper to have a separate policy with Suzuki.

I then went back to my insurer I'm with at the moment,and they said (after calling the Ins.company) I could get comp on the DR on my SV policy for an extra £375.
Thats for both bikes £625.

Still may go for a separate policy.

CRAZY!!!!

I had to pay £270 TPFT for my curvy last year, first year of biking.
Sold the curvy as I had a good offer.

I then got quotes on
SV650K5 - 370
SV1000K3 - 470
2000 Speed Triple - 440

That was with my current insurers. (MCD)

I then bought the K5 650 as it was cheap, and it has an alarm fitted. So spoke to MCD again and it was £270. Better but they had just sent me a renewal for the curvy for £200. A bit of negotiation later and I have paid £230.

On the paperwork the SV650Sk5 is insurance group 14, I am sure my curvy was lower.

I do think age does have a fair bit to do with it, but it may also be just a 'first year' thing.
By that I mean they hike the price just for the first year, and if you can last through that you get a substantial drop for future years with that bike. Perhaps to make money out of the Weekend Warriors who must have a spanky new modle each year.

To illustrate, I'm 36, both bikes are garaged, the only difference being that the Blade has an alarm the SV does not.

When I first got the Blade it was 3/4s of the way through the SV's 1st policy year (£200 TPF&T 0 NCB), so I enquired about dual and separate policies.

To add the Blade to the SV's policy = +£550
Blade on it's own (TPF&T) = £700

Those were with my current insurers at the time - MCE.

I got a quote for a multi bike policy (TPF&T) with Direct Choice on the condition I add the SV when it came to renewal time, so they 'gave' me a head start with the 1 yrs NCB I would (hopefully) have by then.
So, Blade as the main bike = £440

I took this option and added the SV 3 months later - which cost me nothing to do.

If you are still with me...

Renewal this year, single policy, both bikes, Blade as main and 2 yrs NCB = £160.

Now I've never had a policy drop by over half just because you've made it through the first year! In fact that's the biggest drop in policy price I've ever had in 19 years of owning bikes and cars!

If it drops by as much again next year I'll be laughing, but I doubt it will.

Has anyone else had such a 2nd year drop? Espescially if they struggled to meet a high premium for the first year.

Is it just the insurance companies way of making money from 'New-model-Must-Haves'?!

Supposedly being over 30 helps alot.
From what I have seen the age of the bike does affect it.

What does sting a bit is the fact a guy at work who is 31(4 years older than me) and passed at the same time is paying the same on a 54 plate CBR600RR as I am on a 05 SV650. I also live in alot better post code!

Originally Posted by ivantate

Supposedly being over 30 helps alot.
From what I have seen the age of the bike does affect it.

What does sting a bit is the fact a guy at work who is 31(4 years older than me) and passed at the same time is paying the same on a 54 plate CBR600RR as I am on a 05 SV650. I also live in alot better post code!

Notoced that as well, as soon as I hit 30 my ins droppd massively. One good thing about getting old I suppose

I'm phoning round today. THe multi bike policies are ridculous for me Norwich Union the only one to quote at £875.65 for on 04 honda CBF250 and 99 SV650s with alarm.

I'm organising two seperate polices
Comp on Honda 1NCB £177 TPFT SV650 - £203 (through present insurers Bennetts)
I've found the insurance is crippling when starting out. I was advised to take a bigger bike this year beacuse I'm restricted when I get a 600+ next year I would be stung in premiums basically because of the jump in engine.

I'm hoping for a 2nd year drop like K - lets hope the multi biek will work for me

[Speedy]

Quedos,

Norwich union are the ones who quoted £900 for my SV and DR-Z on a multi-bike policy! (although Suzuki Ins provided the quote,they are just a broker)

I'm with Profile at the moment,again a broker,but SO far I'm pretty pleased with them!

I shall try bennetts...........NOW!

Just tried them,they quoted £768 comp,for SV and DR-Z.

SV £245 1 yrs NCB
DR £348 1 yrs NCB or £399 with 0 yrs NCB!

So it IS cheaper to have separate policies!

Insurance companies also take into consideration where the bike is stored over night. My bike is valued at over £4,000 but stored on the road over night, this meant that only two underwriters would actually touch me.

MCE do multi-bike policies which aren't too bad and I'm with Premium Choice I think, which gave me the best deal on my CBR.

They are an absolute nightmare!