A motorised bicycle from BMW is £17k now.... but premiums havent changed much in 30 years in comparison.
I’ve just been dealing with Bennets and it seems their choice of underwriters is greatly reduced when the value of the bike goes over 17k. The point being when renewal is due ensure to correctly revalue your bike to improve your premium. I wonder how many people are on auto renewal at the same value.
It is best being realistic with value of bike as insurance will only pay out book price not retail value , the swines. Heard on radio today . So is it worth paying extra on your estimation price of your bike ?
If it is a new bike I think you'll find you need to put the invoice price down as the bikes value, especially if the policy provides for a new replacement if it suffers from a total loss in the first 6 to 12 months from new.
Not been about for a while as I have been off bikes , but a change of jobs has given me the opportunity to convince the wife its more cost effective to commute on a bike than use the train. So back looking at gsa’s. One thing i forgot was my no clims is now 0
First quote last night almost £1600.00 based on a 53 year old with no claims or convictions bike garaged.
Wow, Bennett quoted me £615 because I have a akrapovic and BMW panniers, the value of the pannier set is over £1000, so they increase quote... best for me this year, LV £325, and BMW insurance £406.
That's for 9000 mile fully comp & commuting. With 8 years no claims.
I'm convinced these days it not about risk, but how much they can screw out of you, thats why they do credit searches...
I’ve just been dealing with Bennets and it seems their choice of underwriters is greatly reduced when the value of the bike goes over 17k. The point being when renewal is due ensure to correctly revalue your bike to improve your premium. I wonder how many people are on auto renewal at the same value.