Observations on Insurance Trends

[D-Rider]

Insurance this year:

I'll be interested to hear the experiences of those that have just renewed their insurance or will be doing so in the near future.
From my experiences, I feel that there has been quite a shift in things recently - but one person's experience is not enough to confirm a more general trend.

My renewal came through with a 30% increase and a trebling of excess .... so I thought I'd investigate other insurers to do better.
I didn't do any better (and, in fact my renewal with the same company ended up 40% higher than last year and a doubling of excess).

My observations:

• * Insurance premiums have risen sharply this year (at least for modified bikes)
  * Excesses have risen beyond belief
  * Insurers are not very amenable to non standard bikes - often declining to quote if you have more than 4 or 5 changes and those that will quote coming in with high premiums.

So, to the facts and figures:
The quotes are based on myself

• 54 yrs old
  Living in Coventry
  1 accident from March 2009 still to be settled (not my fault BTW but have lost 2 yrs NCD until settled)
  No points on license (ever)
  3 yrs NCD
  Riding with full license for 37 yrs.
  Comprehensive cover on Aprilia Falco with mods listed below

Last year's Insurance with MCE (my baseline)

• Premium: £181.30
  Excess: £175
  Mileage restriction: 4999

This Year's Insurance Quotes

• MCE:
  • Renewal came through at £236.02 with £650 excess
    Discussed with them and sent them my updated mods list (changes were front brake system, clutch master and the BST wheels)
    Eventually re-quoted £252 with £350 excess
  Bike Insurer:
  • Out of the blue texted me a quote of £178. When I phoned to take it up and check they were aware of all the mods, they put me through to the insurance company (Hastings) this "quote" was with and after telling them just a few of the mods they said they couldn't quote (Four Exhaust/suspension/brake mods = no quote)
    Thanks to BikerGran, I found that Bike Insurer do Modified Bike Insurance - so I got a quote for that - their link takes you to the eBike site:
    £492
  Carole Nash:
  • Nice, helpful, able to quote.
    Premium £646
    No thanks
  Bike Team:
  • Nice, helpful
    Didn't get back to me
    Chased them
    They got back to me to say they were pursuing it
    Didn't get back to me with quote
  Bikesure (as per Ridersite Insurance section):
  • Very helpful
    I was impressed with them
    2nd best quote (was about to sign up until MCE came in £200 cheaper)
    Premium: £450 .... again silly money compared to last year
  I did have other insurers decline to quote because of the mods - one was concerned that the parts had not been "professionally fitted" - though I didn't explore their definition of that - maybe my past experience would have counted.
  
  I also went on the MCN comparison site and ran a set of quotes for myself on a bog standard Falco and also a bog standard MilleR (most of my changes are Mille/R parts .... could achieve a very similar bike with Falco bars on a MilleR - but it would just look so damned ugly)
  
  For the standard Falco, the first 9 quotes ranged from £201 to £243 with excesses between £475 and £750
  
  For the standard MilleR the first 9 quotes ranged from £228 to £405 with excesses between £450 and £750

List of Mods:

• 
  

[Falconihlist]

I think mine is due in September, as soon as I find out I will I will post up. By the looks of things, I will definitely be paying more as I will have only just got my first years NCD. Looks like it will be more expensive than the car at this rate

[Hishy]

funnily enough my renewal came in the mail today, for my multibike policy with bennets covering a 2002 futura and a 2007 zx-6r last year was £260, this year they want £425, been quoted £312 from carol nash for the same cover, thats with 7 ears NCD, 6 points and no accidents

[Kwackerz]

Mine on the GPz900 was still stable/down slightly

I reckon you lot have shot yourself in the foot modding the Falco to the point it has been noted by the insurance companies

'Aprilia RiderSite; Increasing Insurance Quotes and Mortgages since 2003'

[Aladinsaneuk]

i currently pay 185 with all mods declared

i am currently bricking what my quote will be....

[paddyz1]

I would not have declared over half of them mods. The likes of the mirrors or the brake lines and the mille stuff (except the exhaust) plus a list of others

[D-Rider]

i currently pay 185 with all mods declared

i am currently bricking what my quote will be....

Yeah - but that's last year's quote .... similar to what I paid last year ....

[D-Rider]

I would not have declared over half of them mods. The likes of the mirrors or the brake lines and the mille stuff (except the exhaust) plus a list of others

Damn - just realised I forgot to mention the non-standard battery ..... YTZ14 instead of YTX14.

Heard too many stories of insurers wriggling out of things for small changes not being mentioned. I've tried to list everything .... but I bet I'll have missed something - like the battery.

[Falconihlist]

'Aprilia RiderSite; Increasing Insurance Quotes and Mortgages since 2003'

I'm going to have a bloody nightmare redoing this years quote, after spending a bit or cash at Nooj's, and all the other bits and pieces, I don't even remember which bits I've changed so far

[tommy]

This is exactly why i stripped most of my mods. I couldn't get insurance.

Now only have ohlins shock and SL carbons

I'm 25
Had licence 6 years
6 years NCB
No points or accidents of any kind (i'm not including falling off, lol)
Pay £170 TPF&T

The only people who would insure me with all the previous mods was carole nash. At over £1000!! (main mods were the above plus rene kit, PC3, Tuono bars and fairing)

[Willopotomas]

Robbing bastards!

[blinkey501]

my quote for two bikes on a dual policy was 480 thats for the falco with a double bubble fly screen and a 600 fazer with same mod but excess on fazer is 250 and falco is 500, which i questioned. they told me they had had a lot of claims with aprilias and loaded my excess accordingly

[D-Rider]

Yes the things that annoy me most about all this are:

• 1) Our "hobby" is improving our bikes - for many of us, just as much as riding them.
  2) Although I can see that it is up to Insurance Companies to decide whether they want to take the risk, where insurance is compulsory there should be an obligation on them to provide that insurance and to provide it at a reasonable rate.
  3) The overwhelming majority of our modifications are the bolting on of other compatible Aprilia OEM parts that are taken from "sister bikes" with a higher spec. Most of these mods make the bikes better and safer - the rest are generally cosmetic.
  4) The modifications that some make that are of a "performance" nature give a small boost in performance but still leave the bikes a long way short of the current crop of standard bikes on which insurance is routinely given.

I'm wondering whether there is any way we (as a forum) can have a dialogue with some insurers to get them to understand that many (most) of the mods we do should not be of negative consequence (maybe even an improvement) and should not be an impediment or cost to our insurance.

Where is the evidence that these things increase risk? How often on this forum do you hear of someone having an accident - and even moreso, one that is contributed to by any modification.
Aren't these changes a sign that we take a pride in our bikes and are more likely to take care of them and ride them with a bit more care?
Other forums I frequent seem to have a much more regular "incident rate" ..... mainly with riders of standard bikes !

[D-Rider]

my quote for two bikes on a dual policy was 480 thats for the falco with a double bubble fly screen and a 600 fazer with same mod but excess on fazer is 250 and falco is 500, which i questioned. they told me they had had a lot of claims with aprilias and loaded my excess accordingly

Hmm - were they Falcos and Futuras or Milles and scooters ...... I doubt they make a distinction ...............

[Kwackerz]

Like the idea Andy. I know a few do club schemes, no reason why the site cant approach them and have a chat.. try and reset the scales to how they should be!