motorcycle insurance renewals

a_ominous

Just saw a thread on motornet with someone saying their Hibernian insurance had gone up 300 euro (25%).

Has anyone here had renewals lately and are the premiums going up?

I was pricing insurance for a big bike earlier and the premium was over 1500! And I'm no spring chicken. I had expected something about the grand mark.

Gmodified

Yeah, I got renewal for Bandit 400 which was 800 yoyo's. I sold the bike and didn't go for new insurance. after month from renewal date decided to go for B600 and got absolute shock

1675 TPO

now i am out of the game

rymus

My renewal in August 2002 was 860 if I remember correctly. August 2003 saw it jump to a smidgin under 1200. Apparently the hike was due to a "God given right" type situation... i.e. no other explanation for it other than "we did it 'cos we can!"

Tree

for four years on a moped my insurance never went down, despite a climbing NCB, was at something like 40 or 50% by the end

got a new bike and new policy, have yet to renew it but wehn trying to change the policy hibernian were gonna charge me more to change the bike and keep TPO insurance than to cancel and start a comp policy w/ em. am w/ aon now

Victor

Road deaths are on their way up again, hence increase in premiums.

seamus

Originally posted by Victor
Road deaths are on their way up again, hence increase in premiums.

Why would 3rd party motorcycle insurance increase if motorcyclist deaths are increasing?

Silent Bob

Originally posted by Victor
Road deaths are on their way up again, hence increase in premiums.

Alternatively, the insurance industry is using whatever statistics they can find to try and justify fleecing us. Remember that last year they posted profits that would have completely wiped out all the payouts made over the four years prior to that.

Road deaths are a bad thing for sure, but the relevant numbers have to be what the insurers take in and what they pay out, whatever the reason.

e.g. 5% more road deaths but 100% less of all other payout reasons would lead to a massive reduction in money paid.

SuprSi

My premium went from €1007 in December 2002 to €1246 last Christmas. Needless to say I couldn't afford it and had to go with third party. Rip-off.

jackal

My 125 dragstar renewal arrived last year. I had gotten a full licence in the meantime, and turned 24, but it was 1150 they were looking for, more than the previous year, when I was 23 and on a provisional.

I was shocked, rang my broker, "sureley there must be some mistake, they didnt take my licence and NCB into account?" reply "Look - Unofficially - if I were you I would ring carole nash, because Hibernian dont want to Insure bikers, they are too costly to the insurance company, hence the jump in price. " - This was from a Hibernian broker! They are trying to get rid of business.

Carole Nash gave me a 850 quote, much happier. I also got free recovery, which I had to use after getting a puncture. Really great service. However, they still have Morons working the phones who dont even know the difference between and A and A1 licence.... All they do is bike insurance, how do they not know this????

seamus

Originally posted by jackal
Carole Nash gave me a 850 quote, much happier. I also got free recovery, which I had to use after getting a puncture. Really great service. However, they still have Morons working the phones who dont even know the difference between and A and A1 licence.... All they do is bike insurance, how do they not know this????

They also do classic car insurance. Being an English company, I'd assume that all calls to the Irish Carol Nash number, get diverted to an English call centre, where obviously, they have a different licencing system. They're probably just told that A1 is for under 125 and A is for over, and nothing more.

jackal

I forgot about the classic car insurance. I have never talked to anyone with an english accent when I rang CN Ireland, always sounded Irish.

The problem with these guys not really knowing what you are on about is this. They operate on a statement of fact basis, so what you say is taken to be backed up with documents, etc.

What happened in my case was this:
I was driving a 125 on a full licence, having passed the test at A1 level.
I got a 250, ahich meant I was back on a provisional A licence.
I tried to explain, when I was changing my insurance, and I was surprised that they were only asking for 80 Euro more. I felt uneasy and a few weeks later, decided to double-check, and ring back, different guy, same story, didnt know what I was on about. After a while he realised, and the additonal cost rose to 300ish.

Basically, if I had been in an accident they would have said "ah he told us he had a full licence, but was driving on a provisional, he is not covered". Be wary.

spockety

That's quite bizarre, since Carole Nash don't actually distinguish between provisional and full licenses for their premiums.

jackal

To be honest, they seemed a bit suss.
I rang numerous times before I bought my bike, getting quotes for various bikes. I got three different quotes for my Honda 250 before I bought it.

They hardly would have just chucked on an extra fee just to make me feel better..... or would they!?

egan007

they put mine up 600 yo yos
but when i rang around and got a cheap quote they matched it
they really make you work...

My advice call - one direct - hibernian are their underwriters but they still give cheaper quotes!

saved me 600 !