2024 insurance costs

dunf · 25-03-2024, 11:06 AM

How you all getting on with insurance premiums lately? I was made aware of potential increases this year due to AXA and other major underwriters withdrawing from the motorcycle market. My mate did an article on this recently - https://scooterlab.uk/having-insuran...policies-news/

So with one of my renewals due in a couple of weeks i nervously gave my broker a call for this years price.

Multi policy with Monster 1200S MY2020 and 3 x high value, highly customised classic scooters. I'm in a low risk postcode, all garaged, trackers on everything. I'm wrong side of 50 years now, been riding 30 plus years. 19 years NCB. SACU race licence, IAMS advanced, and ROSPA Gold. No other riders, no pillions, no commuting. Under 3k annual miles on each. So pretty much as low risk as it gets.

Last 5 years the price has ranged between £375 and £475 for all four machines, including agreed values and all engineering modifications documented.

This year.......... £800. wow. I have shopped about but can't get any lower.

I've another two bikes on a different policy due in May. Suspect that will be the same.

Cost of living eh? But nigh on 100% increase seems a tad excessive.

25-03-2024, 11:06 AM	#1
dunf Registered User Join Date: Jan 2022 Location: Dunfermline Bike: M1200s Posts: 26	2024 insurance costs How you all getting on with insurance premiums lately? I was made aware of potential increases this year due to AXA and other major underwriters withdrawing from the motorcycle market. My mate did an article on this recently - https://scooterlab.uk/having-insuran...policies-news/ So with one of my renewals due in a couple of weeks i nervously gave my broker a call for this years price. Multi policy with Monster 1200S MY2020 and 3 x high value, highly customised classic scooters. I'm in a low risk postcode, all garaged, trackers on everything. I'm wrong side of 50 years now, been riding 30 plus years. 19 years NCB. SACU race licence, IAMS advanced, and ROSPA Gold. No other riders, no pillions, no commuting. Under 3k annual miles on each. So pretty much as low risk as it gets. Last 5 years the price has ranged between £375 and £475 for all four machines, including agreed values and all engineering modifications documented. This year.......... £800. wow. I have shopped about but can't get any lower. I've another two bikes on a different policy due in May. Suspect that will be the same. Cost of living eh? But nigh on 100% increase seems a tad excessive.