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insurance

 
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is insurance a rip off
yes
86%
 86%  [ 13 ]
no
13%
 13%  [ 2 ]
Total Votes : 15

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apexer
Moto Crosser
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Joined: 10 Jul 2006
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PostPosted: Tue Jun 05, 2007 6:38 pm    Post subject: insurance Reply with quote

how do they justify this

vtr1000 with mods tpft 153 notes not to bad i thought

then i got some quotes for a dt125r on a 90 plate no mods ..............from 108 to 154 notes for a bike with less every thing and to top the cake off a 300-400 excess ..... the bloody bikes only worth 300
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BarryH
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PostPosted: Tue Jun 05, 2007 6:41 pm    Post subject: Reply with quote

Insurance companies have a min price on any policy. Just cos your only going to ride a 125 doesn't mean that its going to do any less damage if you hit something. Plus the DT125 is probably a higer risk as its ridden by a demographic of rider that is more of a risk. So with that effect a DT is more likell to be involved in an accident.

Its also a postcode lottery................
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ardee
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PostPosted: Tue Jun 05, 2007 6:59 pm    Post subject: Reply with quote

Personally I haven't really been hit by this but knowing how much CuseCuse's quote for the ER5 will be (it's not for me to reveal but it is a 4 figure sum) and knowing that a colleague was paying over 1000 a year for insurance on a 1.0L micra when he was 24 and had just passed his test, I think it is a ripoff. At those sort of prices it's not really suprising that people are tempted to ride and drive without insurance, which benefits no-one.
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Baloo
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PostPosted: Tue Jun 05, 2007 8:05 pm    Post subject: Reply with quote

ardee wrote:
Personally I haven't really been hit by this but knowing how much CuseCuse's quote for the ER5 will be (it's not for me to reveal but it is a 4 figure sum) and knowing that a colleague was paying over 1000 a year for insurance on a 1.0L micra when he was 24 and had just passed his test, I think it is a ripoff. At those sort of prices it's not really suprising that people are tempted to ride and drive without insurance, which benefits no-one.


Rightly or wrongly insurance is a business to make a profit. It is no different to any other business. The more insurers have to pay out the more the premium is. Sadly in this current society people claim for everything they can, legally or otherwise.

Yes it can be expensive, but then so can buying a bun or a cup of coffee.
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tony vtr
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Joined: 28 Mar 2005
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PostPosted: Tue Jun 05, 2007 8:11 pm    Post subject: Reply with quote

i think it is a rip off ,especially for younger riders...nowadays my insurance is cheap...but....when i had an sp370 in 1978(i was 18 then Embarrassed ) the insurance cost £127 a year!!i was taking home £47 a week back then.so i reckon its always been a rip off!!
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ardee
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Joined: 24 Jul 2005
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Location: Norwich, Norfolk

PostPosted: Tue Jun 05, 2007 8:36 pm    Post subject: Reply with quote

MarcBC wrote:
ardee wrote:
Personally I haven't really been hit by this but knowing how much CuseCuse's quote for the ER5 will be (it's not for me to reveal but it is a 4 figure sum) and knowing that a colleague was paying over 1000 a year for insurance on a 1.0L micra when he was 24 and had just passed his test, I think it is a ripoff. At those sort of prices it's not really suprising that people are tempted to ride and drive without insurance, which benefits no-one.


Rightly or wrongly insurance is a business to make a profit. It is no different to any other business. The more insurers have to pay out the more the premium is. Sadly in this current society people claim for everything they can, legally or otherwise.

Yes it can be expensive, but then so can buying a bun or a cup of coffee.


I agree that insurers have to make a profit but it cannot even be in their interests to charge so much to young riders and drivers that people are unable to afford insurance and an increasing number then make the choice to ride or drive uninsured. If this happens more of their policy holders will then end up being involved in accidents with uninsured drivers from whom the insurers cannot claim reimbursement when their client was not at fault.
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Baloo
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PostPosted: Tue Jun 05, 2007 9:15 pm    Post subject: Reply with quote

Let's not blame the insurers for the cost. If that is where the highest risk is; charge the price.

How about putting an insurance disc on the car window / bike as some other countries do thereby demonstrating cover and then punishing those that cheat with a fine that is twice the insurance cost instead of a token amount which makes it cheaper than buying cover.
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Athos
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Joined: 31 Oct 2004
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PostPosted: Tue Jun 05, 2007 9:20 pm    Post subject: Reply with quote

MarcBC wrote:
Let's not blame the insurers for the cost. If that is where the highest risk is; charge the price.

How about putting an insurance disc on the car window / bike as some other countries do thereby demonstrating cover and then punishing those that cheat with a fine that is twice the insurance cost instead of a token amount which makes it cheaper than buying cover.
applause
no insurance is a criminal offence punishable with prison,but i no of no one who has gone to prison,bout time they enforced the law in my opinion
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GSEX-SLAPPY
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PostPosted: Tue Jun 05, 2007 9:22 pm    Post subject: Reply with quote

A lisence? Insurance? next youll want to tax the bloody thing Rolling Eyes Laughing
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Flipper
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Joined: 19 Jul 2005
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PostPosted: Tue Jun 05, 2007 10:28 pm    Post subject: Reply with quote

MarcBC wrote:
[Yes it can be expensive, but then so can buying a bun or a cup of coffee.


Where exactly do you buy your buns Wink

Agree with Marc - it's a crime that people don't have to display insurance in this country.
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Va Va Oops
Va Va Yes yes yes yes!!!!
Va Va Yes yes yes yes!!!!


Joined: 01 Dec 2005
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PostPosted: Tue Jun 05, 2007 11:35 pm    Post subject: Reply with quote

MarcBC wrote:
....punishing those that cheat with a fine that is twice the insurance cost instead of a token amount which makes it cheaper than buying cover.


Absolutely!!! Makes no sense that it is often cheaper to pay the fine than buy the insurance Confused

Are our insurers ripping us off? I'm not sure. They need to be able to 'pool' enough money to be able to pay out for everyone who has a claim. And it is a business so they need to pay their costs and make a profit. I suppose it all depends on how reasonable that profit is??

I can't remember how much my newbie-rider insurance was on my 125 - a little over £100? - but that shot up to £500 for the 900cc Triumph around 7 months later / roughly 3 months after passing my test. It seemed steep but it was so difficult to get anyone to insure me at all that I just accepted it. ....A year later, it dropped to about £250. Still not cheap but, if they were really intent on ripping me off, having already 'snared' me, they could easily have got away with not giving me such a substantial reduction. ...still seems a bit steep though?!
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photo chick
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PostPosted: Thu Jun 07, 2007 11:42 am    Post subject: Reply with quote

mine is cheap at the moment cause my bike is old & so am I LOL.... But when it was brand new & I was 24 it was a FORTUNE, & I was livin up north where it is cheaper than London were I am now!!
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turkeysi
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PostPosted: Fri Jun 08, 2007 11:25 am    Post subject: Reply with quote

Been really lucky and managed to get relatively cheap policies through phoning around.

My bugbear with insurance is that it is cheaper to start a new policy than to stay with your current insurer, how the f*** does that work !?!

Loyalty to one company just does not work so every year there is the hassle of ringing around or surfing the interweb just to get a bike insured.

I know a block who is involved with e-sure and he gets a new car everyyear( a bigger flashier one as well) as a bonus. Last year he was given a Porsche Boxster. So I do not agree with the stance that they are not making shedloads of money from normal motorists. The insurance companies are fleecing us

MAKES MY BLOOD BOIL !!
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GT
Expert CnutCnut
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PostPosted: Sun Jun 10, 2007 4:25 pm    Post subject: Reply with quote

Applied for my Tax on line last week, but it stated there was a prob with my insurance! Dug out the paperwork to trudge off to the post office yesterday and realised that the insurance co had not issued new certificate with change of plate on it.

Phoned them up and got a lame apology re failing to send out new certificate. But what else can they do, just seems a bit of a co-incidence that MIB have not got details for the on-line service with DVLA as well !

They managed to send renewal notice out with change of plate on it last week. i did have great pleasure in informing them that i found insurance with lower excess and all other add ons they were offering £160 cheaper Laughing

They then re-qouted and got it down £61 from their previous qoute, at which point i asked why they couldn't have done this in the first place, suffice to say i will be parting company with CN Rolling Eyes
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Va Va Oops
Va Va Yes yes yes yes!!!!
Va Va Yes yes yes yes!!!!


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PostPosted: Sun Jun 10, 2007 11:48 pm    Post subject: Reply with quote

matttherat wrote:
suffice to say i will be parting company with CN Rolling Eyes


Are there any others that give European breakdown as standard? ..or as a cost-effective alternative for possible multi-trips?
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GT
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PostPosted: Fri Jun 15, 2007 4:45 pm    Post subject: Reply with quote

Va Va Oops wrote:
matttherat wrote:
suffice to say i will be parting company with CN Rolling Eyes


Are there any others that give European breakdown as standard? ..or as a cost-effective alternative for possible multi-trips?


Loads of companies just takes a bit of patience!
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