Coronavirus and bike insurance...

[Dukedesmo]

With the likelihood being that we will/should only be making essential journeys for the next few months, it's looking quite possible that many of us won't be doing much (if any) riding this year - there are not many essential journeys that I would use a bike for.

With MOT expiry dates being extended this removes one worry, we can SORN and tax bikes online as and when needed but this leaves insurance as the biggest cost issue.

I have 3 bikes on a multi-bike policy and it's due next week. It's not an insignificant amount and a lot to pay out if I'm not going to be riding them.

I called the insurance company to do the annual 'dance' over the usual inflated renewal price (usually ends up with them dropping it to around the same as last year after much bartering) and they immediately offered me £150 off the renewal without discussion (a sign that many are thinking like me I suspect).

So what to do - renew anyway or save some money and leave it for now? I can always insure as, when or if circumstances change.

They tell me that NCD is good for 2 years so I shouldn't lose out at renewal by not having a current policy - in fact they even suggested that as a 'new' customer I might be offered a better deal as an introductory bonus.

Of course, not insuring means I'm not covered for fire/theft but given my garage setup and that I'll be here all the time anyway, that shouldn't be too much of a worry.

Thoughts anyone...

[Doggy]

I couldn't sleep at night knowing my 3 bikes weren't insured if someone stole them, no matter how secure I thought my garage was .

How much is the renewal? How much are the bikes worth?

You're going to have to insure them at some point, so might as well do it now and be covered or do it in a couple of months time? Is it worth the risk to save a couple of months cover, not for me it isn't .

[Darren69]

I've just had my renewal in the post but tnh I've not looked at it yet. Insurance companies would seem to be able to gain from this situation since fewer people riding would be less risk for them and with potentially the same premiums charged if people just renew automatically. I might see how much of a reduction I can get for tpft since I will not be riding, theft is the main risk for me and that's what I want to be paying for.

[Darren69]

yea, I would want to make sure I was covered for theft. too many scumbags and now with so much more time on their hands?

[slob]

I can see insurance companies trying all sorts of fiddles,
I’d be asking:

If you dropped from Fully Comp to something less, will they honour your previous years of no claims bonus when you go back to FC.

If you have an accident during lockdown, will they try to wriggle out of covering you by claiming you were on a non-essential journey?

I just don’t trust the buggers an inch any more, your bike insurance goes up because the underwriter got hurt by flooding payouts and non-existent interest rates.

[Darren69]

Yea all of the above and a £30 admin fee to change anything. Crafty swines!

[Nickj]

I've got two on a multi policy, if it needed renewing now then I'd take it assuming it's not outrageous. I suspect that they are going to be hit by some of their more canny and larger business customers taking out all risk policies and making some big claims.
There is also the claims for repairs from the recent floods that are on hold at the moment which will start kicking in once everyone is mobile again.
As Slob says, trust them not ... Last claim I made took around 4 years to settle despite the other party, noddy 4wd twatess stopping right in front of me after pulling out on red lights at a roundabout then thinking better of it... Oh yes losing a bit of focus there, she fessed up infront of a few witnesses that it was definitely her fault,, No **** sherlock !!
Anyway once they hit any losses from any sector we all pay, pay before it happens I'd think.
Then it might not happen in which case wait and see

[manwithredbike]

My bikes are both insured till September so don't have to worry about renew/don't renew at this point. As Rob says though, I don't trust them. Insurance compnies are crocodiles, hungry ones so it would be worth checking the cover under current lock down.
I would say though that if it were me, i'd renew. For starters, the theft cover, even though mine are in a fairly secure garage with metal doors etc it just gives an extra level of assurance. Secondly, we'll be locked down for a while, possible a few months and those short-ish essential trips to the shop which we'd prob never think of on the bike might be a welcome blast out esp when the weather starts to turn to summer.

[Nickj]

In the current climate a quick dash to a local supermarket to pick up urgently required essentials only needs a rucksack, as long as your on a feasible line from store X or Y and have the goods on you who's to say where you've been.
Possibly more care and planning needed in the home counties where the ANPR net is much more organised and capable of tracking vehicles on main roads, then we kind of like the roads less travelled, excepting the green routes our cars sat nav throws out.. really green usually has grass growing down the centre of one track lanes .

[PhilLew]

I got my renweal letter from Bennetts last week quoting £130 (£119 last year) and, the same day an email saying they were all working from home so much longer delays in answering phone calls etc. I decided just to let it auto-renew, it's only £11 and we've all got more important things to worry about.
However, yesterday I got another email from Confused.com who had run a comparison for my renewal based on last years quotes and the lowest price was £85...also from Bennetts!
Given the £45 saving I decided to try and call them. After all the recorded messages and number choice options my call was answered on the first ring. Spoke to a lovely guy who couldn't match the online quote price but did say they'd noticed a big reduction in prices since my renewal was sent last week ...his words 'a lot has changed in a week'
I know insurance companies don't reward loyalty but a reduction of around 30% in a week is the biggest I've ever known and the phone lines don't appear to be as busy as they thought they were going to be.
IMHO well worth getting a renewal quote just now.
Good luck.

Originally Posted by PhilLew

I got my renweal letter from Bennetts last week quoting £130 (£119 last year) and, the same day an email saying they were all working from home so much longer delays in answering phone calls etc. I decided just to let it auto-renew, it's only £11 and we've all got more important things to worry about.
However, yesterday I got another email from Confused.com who had run a comparison for my renewal based on last years quotes and the lowest price was £85...also from Bennetts!
Given the £45 saving I decided to try and call them. After all the recorded messages and number choice options my call was answered on the first ring. Spoke to a lovely guy who couldn't match the online quote price but did say they'd noticed a big reduction in prices since my renewal was sent last week ...his words 'a lot has changed in a week'
I know insurance companies don't reward loyalty but a reduction of around 30% in a week is the biggest I've ever known and the phone lines don't appear to be as busy as they thought they were going to be.
IMHO well worth getting a renewal quote just now.
Good luck.

Bennetts are cute like that. We had a renewal for Dianne's Honda NTV 650 (!) of something like £180. An online quote from them for £65 got a telephone price of £61. I wouldn't touch that firm again!

Nick

[mickj]

My insurance is due in ten days and I'm going to get it even though I cannot ride during lockdown I don't trust the thieving scum not to pay me a visit. Just looking for the best deal, I tried to lower the mileage but have been told it will make no difference to my policy, so why have a mileage limit?

[Darren69]

They usually can put mileage limits on classic or vintage policies and some of those allow you to add a modern bike too, so maybe an option?