Multiple bike insurance

lmfy2k · 16 Apr 2016 at 20:41

Hi all

So maybe looking into getting another bike (just an idea at the moment)

Naturally need to think about insurance, what are the pros and cons about using existing insurer (bennets) to insure second bike vs getting a new policy.

Do most just go for the cheapest option for the cover required ?

Also how would split estimated mileage when they ask?

Its down as 4000 a year for one bike, so do I just change it to 2000 each?

Thanks

wazza300 · 16 Apr 2016 at 20:47

The biggest pain with Bennett's are the stupid fees they add on when altering policies

Yeah just half your annual mileage

With a new policy I think you have 0 no claims? Not sure but your no claims only applies to one bike unless you transfer the policy

Incinerat0r · 16 Apr 2016 at 23:16

What Wazza said is right, if you take a second policy for the new bike it won't benefit from your NCB so it will be quite pricey. I'm with MCE and adding a second bike on was quite painless, cost me about £30 in admin fees and one phone call. I know a lot of people have had bad experiences with them when it comes to claims but I can't speak for that as I've not had to use them (luckily). The biggest inconvenience for me was that you can't get a quote online you have to phone up for it - 1st world problems!

With regards to mileage they will ask you about each bike individually, so if you use one for commuting and one for pleasure it will be different. I'm curious though, what happens if you go over your estimate? When using gocompare I didn't really notice any difference in price when I changed it.

lmfy2k · 17 Apr 2016 at 00:18

Thanks guys

will call Bennetts if and when it's time

DanF · 18 Apr 2016 at 16:56

Bennetts offered me a deal where they could do separate covers for each bike but connect the NCB. I didn't take it as it was still a lot more than other companies.

TallPaul_S · 18 Apr 2016 at 17:03

I've got a years NCB sitting unused which will be used on my second bike - sod mucking around with multi-bike policies, you just have to remember to use the NCB before it expires (2 years). I've got a year being used on my CB400 policy, taken out in December, and a separate year waiting to be put onto another bike policy.

Craig321 · 18 Apr 2016 at 17:07

I've heard of some people adding another bike to their policy and it costing next to nothing as the thought is that they can't ride more than one bike at a time, so there's little risk of claiming on both bikes at the same time. Plus, then it's just the one renewal and you get to use your no claims on both bikes whereas a second policy might be quite expensive as you'd have 0 ncb.

I'd talk to your current insurer, see what it's going to cost after the admin fee etc., then get a quote to insure separately on gocompare or confused and compare the prices.