Insurance premium increase.

[Darren69]

Has anyone else had £50 added to their premium this year? I'm with Footman James and have not changed my classic multibike policy but it's gone up by over £50 from last year. I get it everything is more expensive now post brexit. But wtf? Am I getting fleeced?

[SteveG]

Originally Posted by Darren69

Am I getting fleeced?

Probably.

My Swinton renewal (multibike) came in at nearly £100 more than last year, so I phoned and told them I wasn’t renewing.

A like for like comparison with others came up with a similar figure to last year… funnily enough not just from other providers but also by starting a quote process as a “new” customer with the same provider.

Once I had figures to hand I called them again to confirm I wasn’t renewing and challenged the price hike. And as if by magic I got the cheaper deal from them.

It’s easier IMO and preference to stay with them for admin purposes - but I’m sure I read somewhere the authorities had outlawed the dodgy practice of insurance companies hiking premiums as a “reward” for loyalty and renewals. ..

[utopia]

I had a similar experience with my car insurance this year.
Well actually its only half a car really .. a citroen C1 which I bought a couple of years ago when I decided that I was maybe getting too old to rely on bikes alone for my transport.
Anyway, approx £250 per year (with Churchill) for the first two years. I think actually it dropped slightly for the second year, as you might expect with a year's no-claim bonus.
I expected a further drop this year but was offered a price above £300.
I too checked with other companies and got much lower quotes so I rang Churchill and they stuck to their guns initially but caved in after a little more persistence and offered a quote of around £260.
Still an increase which I objected to on principle but I went with it in the end for the sake of an easy life.

Originally Posted by SteveG

It’s easier IMO and preference to stay with them for admin purposes - but I’m sure I read somewhere the authorities had outlawed the dodgy practice of insurance companies hiking premiums as a “reward” for loyalty and renewals. ..

If I remember correctly the law was changed to outlaw the practice of giving discounted premiums to new customers, rather than outlawing the hiking of premiums for existing customers.
So the companies have retained their carrot to get new customers by offering them a RELATIVELY lower premium as a result of hiking the costs to their existing customers.
So this demonstrates their disregard for both their existing customers and also for the spirit of the law.
They care not one jot about loyalty .. only profits.

[mickj]

My three bike renewal came in at £10 more this years and is £60 less than the next best deal I can find for the same cover.

[Dukedesmo]

Sounds about right.

For years I was with the same company (Carole Nash) and every year we had to 'tango' as in they'd send a proposal of around £100ish more than the last, I'd call them and we'd do the dance and normally they'd get it down to somewhere near last year's price.

Last year they wanted almost double the previous and wouldn't even consider a reduction so I changed, went with Footman James who were considerably cheaper than even the previous year with Carole Nash but, of course this year the renewal comes in at around £50 up on last however, I really couldn't be bothered so just paid it (I guess that's what they rely on?).

Probably should have stood my ground but, as my insurance is a multi-bike and all the bikes are modified to some extent I can't get a quote online and so have to call and explain all the mods etc. which takes a lot of time and effort and I really couldn't be bothered for £50, we'll see what next year brings.

As for car insurance, I have a policy that gives me a fixed price for 3 years (though now on the 3rd) and whilst I can opt out any year, I haven't found anything better price or cover wise online - reasonable priced insurance being one of the benefits (in fact probably the only one) of getting old! so am quite happy with it for this year at least.

[Mr Gazza]

Give Bikesure a try.
A relatively new company, they seem to be down on BS.

No BS with Bikesure is not their moto but it could be..

[Leamreject]

I have 6 bikes on with Bikesure across 4 policies and because I’ve made no claims on any since previous renewals, the renewal premiums on all have been reduced slightly.

I always check the market to ensure the renewal price is inline with taking a new policy elsewhere and glad to say Bikesure are normally spot on so I’ve had no need to change.

I don’t like Carol Nash as they auto renewed a policy and refused to refund me even after they listened to the transcript where I clearly asked them to remove the auto renew function. Thankfully Norwich Union listened to the same transcript so stepped in to make things right.

[Luddite]

I've been with Motorcycle Direct for the past few years https://www.motorcycledirect.co.uk/

I've never made a claim so can't comment on their service but the premium has dropped for both the last two years, with a £10 reduction this year.

[Stinger101]

I have a few bikes insured with Bikesure and I had a claim last year. My premium went down by £90 without any intervention this year. I was going to accept that much as a rise, but funnily enough, I let it auto renew. Very pleased with their admin, speed of service and settlement speed on the claim too. No hassle whatsoever.

[Leamreject]

Originally Posted by Stinger101

I have a few bikes insured with Bikesure and I had a claim last year. My premium went down by £90 without any intervention this year. I was going to accept that much as a rise, but funnily enough, I let it auto renew. Very pleased with their admin, speed of service and settlement speed on the claim too. No hassle whatsoever.

Perhaps a sign we are getting older

[Darren69]

Clearly I need to shop around next year? I mean it seems to me if you hold out and threaten them, then they will fold and give you a lower price. I mean from first hand how the conversation goes. I just didn't have time to play their games this year and tbh why should I need to. If it were any other kind of business I would report them to trading standards, it's just unethical to run a business that is little more than a protection racket, legalised.

[dunf]

I've a 4 bike policy and a 2 bike policy, both with Bemoto. Both went up this year about £50 (about 10%). But i noticed their admin fee had also went up, so challenged them to do a bit better hoping they would knock £20 off but actually they came back next day £5 cheaper than last years. Always worth a phone call....

[crawsue]

I have a six wheel policy ( car and bike) (s)……Carole Nash…..just renewed, they wanted £60 more than last year…..did the dance and it’s now as last year. PS car and 4 bikes including UK & Euro breakdown £528 per annum.

[motomartin11]

Originally Posted by crawsue

I have a six wheel policy ( car and bike) (s)……Carole Nash…..just renewed, they wanted £60 more than last year…..did the dance and it’s now as last year. PS car and 4 bikes including UK & Euro breakdown £528 per annum.

Same here- CN 6 wheel policy 4 bikes and a car. Premium £50 + on renewal-so I phoned them and went though the usual rigmarole and they reduced it to around what it was the previous year. What really annoys me is the ever increasing "administration charge" whenever you contact them more or less with any change or update. I'm old enough to remember the good old days when brokers were truly independent and not part of a big group of companies NOT tied in to insurance companies.

[Darren69]

I'm seeing a pattern emerge here and I have to say in FJ defence that the Classic policy allows me to set the value, so I can say what I think my bikes are worth and they will in principle pay up or replace the bike. Im not sure if other policies will allow that?