Insurance is daylight robbery

Frozennova · 7 Jul 2010 at 10:11

I've been looking at insurance on bigger bikes again for when I get round to going for my bike license, should be over the next few months.

I'm now set on a bandit, quotes coming back at around £450-£500 at 18, no ncb. However have a love for GSXRs so started to look at insurance and quotes where 10 times what they are for a bandit.

How can they justify such outrageous prices.

/rant

Fireskull · 7 Jul 2010 at 10:15

Because a even a 600 GSXR can do 160mph, do you think that sort of performance is going to be cheap to insure? expecially if its your first bike! get a years experience on something less manic then the sportsbike quotes will be under a grand.

I had 4 years NCB and 22 and my GSXR 750 was nearly £800 to insure, I thought that's cheap considering lol

Its mainly sportsbikes though for obvious reasons, im insured fully comp on a 675 Triple for £350 I think it was.

growse · 7 Jul 2010 at 10:30

What he said ^^^.

There's a reason that a 600 sports bike costs a load to insure as a first bike when you're 18. It's because loads of 18 years want to go out and buy 600 sports bikes as their first bike, and it's more than likely they'll go and break something expensive.

Get a bandit (they're pretty good, from what I hear, it's on my shortlist for a first bike) and learn how to ride it properly. There'll be plenty of fun to be had whilst you learn where your limits are. Then, go and get a GSXR and enjoy it

Frozennova · 7 Jul 2010 at 10:35

Do they not take into consideration that they will be 33bhp restricted though?

Fireskull · 7 Jul 2010 at 10:46

Not unless you put that onto the quote? It should make a difference but again something like a Bandit at 33bhp is going to be cheaper than a GSXR at 33bhp.
Insurers will also bump up the sportsbikes because of theft desirability.

Frozennova · 7 Jul 2010 at 11:18

forgot to take that into consideration as well as the cost of fairing damage if I was to drop it

Greenboi · 7 Jul 2010 at 11:21

frozennova said:
Do they not take into consideration that they will be 33bhp restricted though?

Nope. It doesnt make any difference to the insurance cost ive found.

Ghosteh · 7 Jul 2010 at 13:29

33bhp restriction probably won't make a difference to the cost, but could make a difference in a claim if you say you have one fitted when you actually don't and you end up in a crash.

As others have said, get a years experience on something less performance orientated, like the bandit, then start looking at something with higher performance.

My first bike was a Bandit 650, and it was an awesome bike, don't regret it one bit.

Greenboi · 7 Jul 2010 at 13:47

Ghosteh said:
33bhp restriction probably won't make a difference to the cost, but could make a difference in a claim if you say you have one fitted when you actually don't and you end up in a crash.

As others have said, get a years experience on something less performance orientated, like the bandit, then start looking at something with higher performance.

My first bike was a Bandit 650, and it was an awesome bike, don't regret it one bit.

If you are on a 33bhp license and you ride without the restriction, your insurance is invalid if you crash, insurance compaines wont pay out.

Also its insta-ban if caught by police, though if you have a restriction certificate they wont be able to tell, unless of course you do crash and the bike gets inspected.

Ghosteh · 7 Jul 2010 at 14:01

Well, I said could, because I've heard of 1 guy who got away with it after a crash he had when he should have had a 33bhp restriction and didn't, think he'd had one, but removed it or something. But I know the insurance is invalid with out the kit installed.

Sagalout · 7 Jul 2010 at 14:09

GSXR600's are also a lot more desireable to thieves.

Most expensive bike I've insured was the GSXR750 - it was double the cost of my Honda Blackbird and a fair bit more than the ZX12R.

It gets better with age/ncb though. I'm currently paying £260 per year fully comp for a multi-bike policy that covers both the blackbird and speed triple

kidloco · 7 Jul 2010 at 15:17

Yep insurance sucks when you are young and dont have any ncb. My first bike was a 2 year old ZX6R, i paid around £1200 TPFT :eek:

But after a while things do get a hell of a lot better, I had the R1 insurance down to around £150 TPFT near the end.

Had to take a bit of a sting on insurance this year as I took just over a 2 gap from biking. my 11 years without a single claim was all forgotton and I had to bite the bullet. It wasnt as bad as it could have been thanks to the fact im a sold sod now at 35, still cost me around £350 for the duc.

The fact is sportsbikes are quick and in the wrong hands dangerous. They also get stolen rather a lot. And to top it all off if you so much as drop it off the stand it can end up costing you thousands in plastics. Ive seen bikes written off becuase of a scratch on the frame or swingarm.

VFR_KID · 7 Jul 2010 at 15:34

Have a look at a hornet. there under rated but not 100% what insurance would be like

rypt · 7 Jul 2010 at 15:50

kidloco said:
They also get stolen rather a lot.

Says a lot about how useless the police and judiciary system is in this country

kidloco · 7 Jul 2010 at 16:08

rypt said:
Says a lot about how useless the police and judiciary system is in this country

Well that and the fact that a bike can have the most expensive alarm in the world fitted, and still all it takes is 2 guys in a white van to roll up, pole in each wheel, throw it in the van and drive off. Takes seconds and jo public just smaile and nod.

sad but true

Ghosteh · 7 Jul 2010 at 16:08

Also, be thankful you're not in Germany, like I will be in the near future. The insurance out there for bikes is ridiculous apparently for fully comp. Just waiting to get a few quotes back, but I'm seriously not looking forward to it. Even more so if things do go to plan and I end up getting a new 'Busa, with TPF+T lol.

Ghosteh · 7 Jul 2010 at 16:10

kidloco said:
Well that and the fact that a bike can have the most expensive alarm in the world fitted, and still all it takes is 2 guys in a white van to roll up, pole in each wheel, throw it in the van and drive off. Takes seconds and jo public just smaile and nod.

sad but true

Tell me about it. Exactly what happened with my bike, right out side my window! I was literally sleeping around 1-2 metres away from it, it was chained up, disk lock on, and covered up. Didn't stop them cutting the chain, picking the thing up, and throwing it in the back of a van. I wonder how they cut the chain with out making any noise! lol.

Fireskull · 7 Jul 2010 at 16:11

kidloco said:
Well that and the fact that a bike can have the most expensive alarm in the world fitted, and still all it takes is 2 guys in a white van to roll up, pole in each wheel, throw it in the van and drive off. Takes seconds and jo public just smaile and nod.

sad but true

I had something stolen off my bike when I parked it in London, was only just around the corner from work, but when I got back and realised where I had parked it was outside a law court lol!

Scythe · 7 Jul 2010 at 19:21

Personally, I don't think my insurance is too bad. For the first two years you are restricted to 33bhp, so no point getting a all out sports bike, a lower group sport tourer will be just as good and more forgiving than a gixxer.

I would be looking at upgrading to a gixxer or CBR6 when you get derestricted, therefore you will have more experience and NCB under your belt.

wozza2k · 7 Jul 2010 at 19:41

Thats because you are looking at Bike insurance in peak season. Also the motor industry have been hit pretty badly so most if not all motor insurance companies have put their prices up. The motor insurance world have all been hit with scammers and claim 'farmers' who purposely induce accidents and thus claiming for ridiculous amounts and various 'whiplash' claims which all adds up and get pass back down to you 'the customer'.