Insurance - How much!!!

That time of year, my bike insurance renewal just arrived. Not only has it gone up, it seems to take no regard to MY claims history (none), MY licence and qualifications (No convictions, IAM pass, car and bike) and MY bike use or riding mileage.

Full disclosure, my first professional job was an Insurance Broker. I get underwriting and I understand what makes up calculating the premiums, but come on, this is crazy!

In real terms, I am impacted by several things, which I cannot change or affect, namely:

  • Motorcycle theft in the UK - latest figures show that in England and Wales some 40,000 bikes stolen in 2020

  • London claims - accidents and claims, none of which created by me

  • New bikes are expensive. They are complex and cost loads to repair - if they get fixed at all

  • I ride a lot - my milage is way above the average (3000 mile per year) and I ride abroad

I have an "average " 2021 bike (Tiger 900 GT Pro), I am over 60 and have over 30 years no claims bonus - but my insurance is around 7% of the cost of the bike (which will de-value) and I am sure is a major factor in why people do not ride motorcycles in large Cities, even though they are environmentally better, take up less space and do less damage to the roads we use.

Looks like I am faced with the task of filling out on-line forms, getting an alternative quote and then going back to my original broker to see if they match it.

One last point - I also own a 1957 vintage Norton, my real pride and joy, which costs less than £100 per year to insure, fully comp, no excess and also gets ridden aboard.....

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