I was just given insurance prices from Ducati Insurance and the price for fully comprehensive was literally double than the third party only. I know that there are many factors that affect the total cost of the insurance, the thing is, i have been living in UK for only 10 months and i have no idea if bike theft is a common phenomenon in UK and specifically in west midlands... I quoted for a used Monster 1200 at ₤9000-10000 and the price for full comprehensive was ~₤1300 vs ₤650 for the third party only. What do you guys think? Does it worth the extra ₤₤₤? Should i go for the theft coverage to have peace of mind? Would you say that the price quoted is normal? PS I quoted for a brand new insurance as first time customer, no claims, no penalties and driving licence held since 2009. The bike will be locked in my garage. Location west midlands, Birmingham. Chris
You dont say how much to add theft to the 3rd party but with a bike of £9000-£10000 I would not hesitate to get fully comp. Maybe offer a higher excess to see if you can reduce the premium ? If you can afford a £10k bike you should afford fully comp. Just my opinion, your money & your call.
Chris, Bike theft is not uncommon in the UK - I don't know if the West Midlands is a particularly bad area like London. If you look on this forum (or any other bike forum I suspect), reports of members having their pride and joy stolen are sadly all too frequent. Investigating bike theft does not appear very high up the police's list of priorities. (I've not been able to find any very recent statistics comparing motorcycle theft rates in England and Greece, but a 2005 report http://unicri.it/services/library_documentation/publications/icvs/publications/ICVS2004_05report.pdf suggests that it is more common over here). As Dukesox says, if you can afford a £9,000-£10,000 bike it's probably worth paying at least for theft cover if not fully comprehensive. As for fullly comprehensive, if your bike was seriously damaged e.g. in a crash, what could you afford to pay to have it repaired? If the Ducati insurance quote is the only one you've had, get some quotes from other companies to compare. Have you looked on any of the price comparison websites e.g. moneysupermarket or comparethemarket? I have found Ducati Insurance's prices to be competitive for me, and at least on this forum, I don't recall seeing as many complaints about poor customer service from them, as compared with other companies (e.g. Bennetts, who seem to have a particularly bad reputation).
Thank you so much for your replies. This is a very helpfull post and the report with the statistics is very interesting and concerning. To be honest this was my first quote and i chose DI because i read some post from a few people that discouraged me from going with any other company. Price for third party+theft was quoted at £1016. After reading this article from MCN and seeing that Midlands is a "red" zone, i will definately go with the theft coverage. MCN Motorcycle theft: Don't become a statistic - MCN Insurance Advice | MCN
In a word.. Yes, it is. 1. Bike theft is at epidemic levels in urban areas across the UK. 2. If it's 3rd party only and it gets stolen you've lost £10,000 - is that worth the risk to save £650 ? 3. If you have an accident and wreck it, and it's not fully comprehensive - that's £10K down the drain again - just to save £650. It's your choice, but I reckon it's definitely worth the extra cost...
Have a look at which insurance companies do discounts for which alarms or imobilisers - sometimes you can save money by getting a good anti-theft system fitted. ( But don't, ever, be tempted to fit anything from Meta... )
Take your time to understand what is on offer from each insurer - what looks cheap can either be a bargain or a total nightmare if you ever need to claim. By understanding what's on offer, what looks expensive initially, may turn out to be excellent value. As JR45 says, check what steps you can take to reduce the premium, lock, alarmed garage etc and also ask what NCD they are quoting you with - no claims discount - and ask if it will increase for you in 12 months' time - some companies are much more willing to give you the best rate immediately, others insist you are a good boy for longer. Most insurers will also compete on price with competitors, so do your research and get more quotes
If the prices for the "correct" insurance (ie fully comp) make you question which to buy when there is only one logical answer then what would happen if said bike was stolen and you needed/wanted to replace it?
Ducati insurance are great when and if you have a history with the size of bike you need to insure. Because they dont know you they wont in all liklihood be the best for you, try elsewhere.
There always more than double or sometimes triple for me. Ive got no points, good area, and 5 or 6 ncb.
