Insurance quotes from Bennetts

[Iceman]

Ok, got some Insurance Quotes from Bennetts on the following models with some discrepancies;-

Suzuki GSXR600 97' £104.55
Kawasaki ZX6R 98' £105
Honda CBR600f3 97' £174
Honda CBR600f4 2000 £105
Honda CBR600i sport 2003 £105

It seems like it's a lot more to insure a 97' £1000 bike than a faster £2500 2003 model.Hmm
I ran this quote through 3 times and arrived at the same results. Interesting!

[wiltshire builders]

My van insurance went up by £120 when I moved house but in the same town! There is no rhyme or reason behind insurance. Some vehicles cost less fully comp than TPFT and a k1 gsxr1000 was cheaper for me to insure than a 600 SRAD. They is villans I tells ya. ;D

[Mitch9128]

Try MCE, bargain prices if customer service isn't a priority.

[Ducatista]

There is no rhyme or reason behind insurance.

I don't think that's true.
The prices are generally based on claims experience.

I remember reading somewhere a few years ago that the most likely cars to get stolen were 14 years old.
This was suprising but it was because they had rubbish security comapred with newer cars.

This price may be high simply because the claims experience on that bike was high for theft.
I agree it looks like an anomaly but that doesn't mean there's no reason behind it.

Often insurers price something high (like any business) if they don't want the business.
It doesn't look like that in this case but if (for example) a business doesn't want young males, then they won't refuse they will simply make the prices higher. Any business will do this so that if they get business they don't want then at least they are getting a premium.
In this case I reckon it's down to simple claims experience (they do have databases these days).

[Robf]

when i had a quick look the other night on one of the comparison sites, bearing in mind i'm only 18 it was £393 3rd party, £175 TPFT
and £268 Comp...

and thats on a 1999 CB500s

[wiltshire builders]

There is no rhyme or reason behind insurance.

I don't think that's true.
The prices are generally based on claims experience.

I remember reading somewhere a few years ago that the most likely cars to get stolen were 14 years old.
This was suprising but it was because they had rubbish security comapred with newer cars.

This price may be high simply because the claims experience on that bike was high for theft.
I agree it looks like an anomaly but that doesn't mean there's no reason behind it.

Often insurers price something high (like any business) if they don't want the business.
It doesn't look like that in this case but if (for example) a business doesn't want young males, then they won't refuse they will simply make the prices higher. Any business will do this so that if they get business they don't want then at least they are getting a premium.
In this case I reckon it's down to simple claims experience (they do have databases these days).
I had the same van and was in the same town. All i'd done is move streets. As far as I know there wasn't a spate of transit thefts confined to one street in Chippenham.
I know they base their prices on claims history for vehicles, but an extra £120 and the only thing that changed was the street. I was an existing customer so they clearly wanted my business. Just for the record, bike insurance stayed at exactly the same price. When questioned they couldn't provide me with a reason (i didn't ask for a rhyme)

[Snowy]

It will be something simple like the newer bike has an immobiliser and the older bike doesn't. Or more of one type has been stolen or torched in your postcode.

[Kevinb]

Ok, got some Insurance Quotes from Bennetts on the following models with some discrepancies;-

Suzuki GSXR600 97' £104.55
Kawasaki ZX6R 98' £105
Honda CBR600f3 97' £174
Honda CBR600f4 2000 £105
Honda CBR600i sport 2003 £105

It seems like it's a lot more to insure a 97' £1000 bike than a faster £2500 2003 model.Hmm
I ran this quote through 3 times and arrived at the same results. Interesting!


Could be down to better security fitted to the later Honda

[Ducatista]

but an extra £120 and the only thing that changed as the street

They are allowed to charge you up to £75 as an admin fee, so probably part of it was an admin charge and it's wasn't entirely just a premium increase.
It could also be that the insurance price has generally increased and because you were in effect being requoted at current prices that you incurred the effect of higher prices all round rather than by moving street.

I don't believe they run their businesses from a random number generator !!

There will be reasons behind it even if we don't fully understand all the reasons.
One of those reasons will of course be profit as with any of us that are engaged in any kind of work or business.

So if you make an amendement you should expect an element of admin and profit to be usually included although companies do have different policies.