Apologies if this is in the wrong section of the forum.
I was wondering if anyone else has had a similar experience to me.
My classic bike renewal has come through from Carole Nash.
Last year it was £142.99 and this year it is £232.17.
That is fully comp for a 53 A10 Flash with chair and an LE Velocette (66)
Anybody else had big price hikes?
Any suggestions for good, cheapish insurance?
Thanks in advance
Adrian
Ive just had one from them, 650 Bandit, B40 and A10 £454 fully comp. riding full licence since 1983 no accidents or convictions. BUT, Ive not had a private policy since the trade one ended in 2018. Im weighing up pros and cons for going trade again or private, and the A10 was insured with them years ago when I had an original private policy.
the trade policy is coming out around £1500, one quoted £750 for the riding only no premises, tools or liability.. why say they can quote.
Best to go to a specialist bike insurer not one of the compare places, they havnt a clue and you get bombarded by more idiots.
Hi Jackson,
I have always found CN a good option. Your increase does look quite big. Have you spoken to anyone at CN about it? Ask them why it has gone up so much.
Dave.
Carole Nash, Peter James and Hagerty are the one's that seem to usually crop up. I've been with Hagerty for a couple of years (Triumph 3TA, Norton Model 18 and BSA A7) and they have been accommodating and reasonable value. These days you have to shop around every year though which is a bit of a pain but seems the norm for whatever type of insurance you need.
I have been in touch with CN. They are very sympathetic but can't really explain the big increase. They are just offering me the best premium from their stable of insurers.
It suddenly came to me last night why this is happening.
Recent legislation (since my last renewal) means that insurers now have to offer existing customers the same premiums as new customers. This is to stop existing customers being overcharged and subsiding new business. This will reduce the money the insurers are making from existing customers who don't change, so premiums are increased to compensate. I suspect this may affect a lot of us as premiums come due.
Adrian
Ive been with CN for over 10 years, This year they did the same hiked the price, So after a few quotes from others i decided to go with a company called One call. Half the price of CN and with all the same benefits. If we keep paying without question, They will just carry on with the increases.
Last time I challenged CN over their renewal price, they came down almost £100 to match the previous year's premium.
I used to be with CN but every year they upped the premiums by an appreciable amount so I changed.
Now with Adrian Flux who were far more competitive and this year my premium for my 3 BSAs was actually cheaper than last year - about £100 fully comp for the 3 bikes on a classic policy. They were also very competitive for my new Triumph Speed Twin.
Thanks very much folks.
Very useful.
Adrian
well I am with CN, two years ago it was £354 for 5 bikes... last year it went up to £356 so No probs.....now you said what you have said this year we will see ha .............
Mo
just had a chat with my business insurer about getting another policy, I was told the original price of £1400 I wont see again, more likely to be over £2000.
the cost for bike cover alone , 3 bikes of mine, max value £5000 each ( not covering Group 39??) is £873 thats riding customers bikes as well. but no workshop/tool/stock/liability cover, thats extra.
Mo,
I'd be interested to know what happens to your premium this year.
Just about to try Adrian Flux and One Call.
Adrian
I have been with Peter James now for about 12 years my premium last year was £101.69 this year £109.73 that is for 2 bikes a1956 A7 and a 1963 A65 both fully comp with breakdown cover and agreed valuation.
I went with Adrian Flux/ Bike sure, B40 (£3500/999), A10 (£3500/999) and 650 Bandit (£2500/4999) values /mileage all three covered fully comp with only my car no claims ( bike ncb has elapsed) all covered for £324. subsequant additions/changes liable to £39 admin fee.
only reason was price, and thinking of getting an American car and will insure with them so hopefully a bonus discount.