UK Bike Insurance - Ridiculous!!

[badmotogoozer]

$150??? That's almost worth living in Minnesota for! Maybe not...

 

My insurance in Vancouver Canada for one year full coverage on my Guzzi, including a 44% safe driver discount, is ~$2K CDN.

 

Your BMW was probably classed as a tourer and the Guz is likely classed as a sport bike. Sport bikes often have higher ins. rates due to higher incidence of squid crashes coupled with expensive plastic body work.

 

Doesn't matter if it is correctly classed or not. If somebody somewhere thought a Guzzi is a sport bike, that's how it is.

 

Rj

[Steve G.]

As Ryan notes, British Columbia insurance rates would make what everyone else is paying all red with embarrasement. I'm paying average $850 , no comp, no fire/theft, no collision, 1 million liability. Add all those optional insurance into it, and it's $2300 a year.

Ciao, Steve

[DeBenGuzzi]

As Ryan notes, British Columbia insurance rates would make what everyone else is paying all red with embarrasement. I'm paying average $850 , no comp, no fire/theft, no collision, 1 million liability. Add all those optional insurance into it, and it's $2300 a year.

Ciao, Steve

Wow, have I got good insurance then, Unless I get a brand new ducati or fairly new harley the rates are around $500 a year and everything else is the same so RSV $150, MGS-01 $150, BMW 1200GS $150, Britten 1000 PRICELESS

 

the catch is they won't insure just anyone, you have to have a plethora of policies and then they really don't care and just write it up as a generic motorcycle policy, I have 2 cars and the house through farmers paying them roughly $3300 a year without the bike. Its all realative my brothas.

[Frenchbob]

When I first relocated to France, I thought that vehicle insurance was high, but I'm beginning to find my way around, now. Just got the V11 insured fully comp with my classic insurers, Bailly, for 280 euros. They do all my five other bikes one "collection" policy for less than that!

[Skeeve]

The big problem being that ins. co's are profit-oriented entities, as opposed to joint-risk coops, which is where the whole premise of "insurance" gets it's start. The risk-reduction premise of insurance is best illustrated by a school of fish: the odds that a predator [in this case, an accident] striking any one member [risk pool participant] is reduced [cost is spread across all members] to a degree that every individual's net risk is substantially less than trying to go it alone. Insurance companies, otoh, have lots of expensive executives' & board members' salaries to pay, plus the shareholders like to see a bit of profit in the form of dividends every quarter.

 

It strikes me that a co-op joint risk setup could save members SUBSTANTIAL lucre over the long term. Or, it could be set up just like every other ins.co., only upon joining you pay a membership fee & get a share of stock, so the profits every year come back to you in some small part.

 

Whatever, just rambling on at the mouth (keyboard) again...

[Neeraj]

What about the shannons insurance? Has anyone contacted them regarding it? 

[p6x]

On 1/11/2007 at 4:12 PM, Skeeve said:

The big problem being that ins. co's are profit-oriented entities, as opposed to joint-risk coops, which is where the whole premise of "insurance" gets it's start. The risk-reduction premise of insurance is best illustrated by a school of fish: the odds that a predator [in this case, an accident] striking any one member [risk pool participant] is reduced [cost is spread across all members] to a degree that every individual's net risk is substantially less than trying to go it alone. Insurance companies, otoh, have lots of expensive executives' & board members' salaries to pay, plus the shareholders like to see a bit of profit in the form of dividends every quarter.

This is what the association "Les Motards en colère" did in France; when motorcycle insurances started to impose restrictions on who they would insure, and prices became prohibitive, they started "La Mutuelle des Motards";

I do not know how competitive their prices are today;

My annual insurance for the V11 2004 is USD 302.00. Full coverage though...

[mikev]

My annual renewal policy from Mapfre is $118 US (-$7 off for merit :))

[p6x]

3 minutes ago, mikev said:

My renewal policy from Mapfre is $118 US (-$7 off for merit :))

Maybe riding in Massachusetts is safer? I got a merit decrease too; like you, less than 10 dollars. Peanuts!

[docc]

In The States, most automobile insurance policies are six month terms, yet my (separate) motorcycle policy is annual. I suppose may be helpful if comparing costs per year between policies.

[audiomick]

What insurance is compulsory in the various countries? The reason for the question is, I believe that insurance that is compulsory tends to be more expensive that voluntary insurance that has to compete on the market.

In Germany, third party property is required. I don't have any more than that on the bikes. The V35 Imola is around €55- a year, I believe. The V11 around €190.-.

 

The car has comprehensive insurance. Has to, because the financing isn't paid up yet, and it's a condition of the financing contract. That's just under €500.- for six months. It's a 2018 Opel Astra with a 125 hp diesel motor.

[p6x]

12 hours ago, docc said:

In The States, most automobile insurance policies are six month terms, yet my (separate) motorcycle policy is annual. I suppose may be helpful if comparing costs per year between policies.

Idem for me; my motorcycle insurance is 12 months term, paid in one installment. My car is 6 months policy. I am thinking they think that we can't multiply by 2 to get the annual cost?

I heard of VOOM but have not yet checked them seriously. Supposedly a "pay per mile" insurance for motorcycles. As we all have multiple vehicles, and needing multiple insurances when we can only drive one vehicle at any time, paying only for what you drive seems to be a good deal. Obviously, the T&C needs to be sifted.

My previous insurance company was Farmers. They have an option when you can put your vehicle in "storage", for which they only cover the possible fire or static damage. This was a very good deal, but my current insurance does not propose it.

[p6x]

1 hour ago, audiomick said:

What insurance is compulsory in the various countries? The reason for the question is, I believe that insurance that is compulsory tends to be more expensive that voluntary insurance that has to compete on the market.

In Germany, third party property is required. I don't have any more than that on the bikes. The V35 Imola is around €55- a year, I believe. The V11 around €190.-.

 

The car has comprehensive insurance. Has to, because the financing isn't paid up yet, and it's a condition of the financing contract. That's just under €500.- for six months. It's a 2018 Opel Astra with a 125 hp diesel motor.

Each state has its own requirements; in Texas, you are required to have insurance, and they check that you have it during the annual state inspection.

However, I know for a fact that many drivers do not have insurance. There are Insurance Companies with very low premiums, generally they are just providing the driver with a proof of insurance, but practically zero coverage.

However in the USA, or at least in Texas, I would not recommend to get the cheapest insurance possible. I know a lot of people who have had their car damaged by people who have run away. If you don't have full coverage, it may be costly. Also, in the USA you have these lawyers  who specializes in car accidents. My insurance covers lawsuits to a certain extent. You want to have that too. I am sure you have heard about those frivolous lawsuits before.

 

[p6x]

I just checked VOOM, and their cheapest plan is 22 USD monthly, based on 5,000 miles per year...

Since I do more than 5,000 miles, it is not advantageous to me.

[LaGrasta]

I recently discovered Voom advertised on Fortnine (Youtube). Not available in all states, and of course not mine! I have seven bikes, $140 annual registration fee each, plus insurance (Progressive) I need to move!