Motorbike insurance at £2000 - too high?
I just bought a Honda CG 2002 124cc bike. I have a CBT. I have no NCB and have not driven a car or bike before (but have had a provisional license for 5 years). I live in London. The bike will be kept in a driveway and used for commuting to work.
Given all of this, the lowest insurance quote I'm getting is £1780 p/a on any of the major comparison websites. This seems very high or is it about right?
Since you've had a provisional for 5 years you must be 21 or more; It will get cheaper when you are over 26. You may be paying a bit for the moped mugger's activities. If that's for fully comp, it's probably about right. Just think, you can get a lot of UBER for that money, and even more bus rides. Best chance is to go to a high street broker, they can do all the searching for you, including companies who don't go on comparison sites.
I bet you paid less for the bike!
Always check the insurance cost first
Very high… My grandson has a 1988 honda 100cc only just 17 .learner passed his CBT lives in coventry. He has third party .fire and theft… His insurance is £300 PA
Try ebike I have had some decent quotes from them. The main problem is not you but the rising theft rates so it will be your postcode, you can get reductions by using approved chains/locks/alarms.
Wow! You tick all the boxes for high risk but that still seems incredibly high for a pissant 16yo commuter bike (no offence).
1. Talk to your broker and find out why it's costing you so much money, then see if you can alleviate it somehow. Alarms, locks, garaging, change address etc.
2. If that quote is for Comprehensive cover, try reducing it to TPFT. In London you're more likely someone will knock you off your bike or steal it, while the CG is fairly crash resistant so you'd be unlucky to smash it so badly it can't be fixed up. You probably don't need maximum cover. If the bike <is> a total loss due to you, you'll just have to cop it, but still cheaper to buy another one than paying that premium.
3. Don't use a general broker, they just steer you to the company that gives them the biggest margins and a percentage of your premium goes to them. Try bike specialists like Carole Nash Insurance, direct quote from their website.
London is infested with motorcycle thieves and your bike is parked in a driveway instead of a secure garage and will be left unattended for much of the day.
I think your quote is disproportionately high for a CG125, but you should expect to pay £800 a year. Try a comparison site on the Internet.
Yes
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