1199 Panigale R Insurance

Hi,

I had a right game trying to get insured on my base model panigale, being 25 and have not owned a bike for 2 years (have been riding an R1 though) i was expecting the insurance to be high. But i got quoted silly money as well, MCE quoted me over 9k, Ducati insurance £1876 and when i was about to give up on the panigale i was contacted by a company called be wiser insurance who had my details from MCN compare.

Spoke to the adviser, gave him all my details about me, the bike, riding experience, no claims (that were over 2 years) etc. he went away came back a couple of days later, with some prices, requested my old no claims bonus and got me insured with a company called Zenith insurance for £1262. Still a lot but a hell of a lot cheaper than ducati insurance and MCE!

I thought if i could get it for around the same price as my K6 GSX-750 when i was 23, which was £1100 i would go for it. This guy at bewiser was great, fantastic communication, the first quotes he came back with were a lot but he went away again to find the best one that would also use my 2 yr 10 week old No claims and he came back with the Zentith quote.

Try them out, they were the only people who could find an insurance company that would insure me.

Be Wiser Insurance | Quality Car, Van, Bike & Home Insurance

 

Is that a bad quote for a 27k bike? Costs me £600 last year and this year it was £500 for my 'S', for some reason I couldn't get a quote for less than 5 grand for an 'R'!.

 

I would imagine that the more the excess is it might come down you can always buy excess insurance which may work out cheaper in total.

 

My S1 Lotus Exige was approx £230 this year and it's value is just pushing North of £30K - was group 21 of the old system (top group) so it does seem expensive in comparison.

 

im with mce who are a fkin nightmare ,but my s was quoted the same as an R probably a mistake tho knowing them ,still waiting 3mths later for a refund

 

MCE have been fine for me on price, no claims experience thankfully

 

MCE been fine with me as well, got crazy quotes from Ducati Insurance.

 

MCE quoted me 7k for my Pani lol...

Try insuring a Desmo and a Pani I'm heading towars 2k per year

 

Same . Would have been my next bike for certain

 

Any bike thats value is over £15K in value will always be in an Insurance bracket of its own. The last discussion I'd had was that there are only 2 'Insurance Companies' who'll insure exotic bikes above the £15K value. They are Equity Red Star' and I think Norwich Union. The daft quotes will no doubt be from Brokers who wouldn't be able to actually insure you in the 1st place.

As some of you + me included have bikes of higher value, we'll have to expect that there'll always be a higher premium than normal to pay. So if your not happy with them, then I would suggest you look at something else to insure. Just don't expect to insure a Lamborghini for the price of a Ford Fiesta. Technically this is what we'd all want to do and I'm no exception

With my little collection, my insurance bill is just over £2K a year. When I consider some of the horror stories of Insurance premiums I guess I get a good deal by comparison through Ducati Insurance.

Right Its time to get my coat I think.

 

Agree in principle with what you say Samieb, but it does seem that we are screwed over as bike owners.
I know that statistically for some, there will be a higher inherent risk of claim, but that should be adjusted
with the NCB etc, but middle aged guys with good riding histories and decent post codes should be getting
a bit of a better deal.
I was reasonably happy with my Bayliss deal when first bought it, compared to what I had paid for other bikes in the
past, but was still gobsmacked that it was nearly twice what I was paying for a 54k Porsche I owned at the same time.

Think that as you say we, just have to realise that insurers don't like our business, and take it on the chin if we want to enjoy owning anything more than mundane motorcycles.

I would highlight that the UK ain't so bad. After getting my last year in the UK for Bayliss and MTS12 combined at 800 ish I moved to Sweden last October. Prices over here for exotica are stupid. MTS no probs at about 300 quid. No one wants to cover a 4 yr old 1098R at all, and best deal I found was over £1600. It was like starting as a learner again. And from what I can gather, there is very little in the way of NCB here. I am on the good deal, and it will just go up if I have any claims.

 

I paid 26 euro for two small coffee's and two tiny bits of cake in Copenhagen - is this relevant to this thread at all? I just can't seem to forget it, but soon forget what my insurance cost...:Shifty:

 

Insurance is based on risk, not bike value.

 

So explain the high cost of insurance for younger drivers / riders, riding shit bikes and cars with low value. The risk associated with expensive bikes is that they're targeted by thieves because they are high value and easy to steal. They're also, like all high powered sports bikes, easy to crash and cause incidents with high costs in terms of compensation and clean up thus increasing the insurance premiums. It's got less to do with the cost of the bike than it has all the other component factors of drawing up an insurance premium, which is based on calculated risk. If you have a high value bike that's hard to steal, you're in a low risk group and you live in a low risk area then your premiums will be low, again regardless of the cost of the bike.

 

blimey is there nothing you aren't an expert in

risk is a combination of loads of stuff. Obviously not sex, thats been outlawed now, but age, value, driving history, miles you travel, where you live, how you store it blah blah blah.

a small drop on a 20k Pani is going to be expensive but not as much as an R or an SL, mainly because parts may not be as readily available, so hire vehicles etc cost more as the longer off road, the more cost. This increases risk ratings

 

just opened my renewal. £525.65 57 fugly1100s 13 848evo.full no claims. carol nash. maybe be high cos i am only 28

 

its high because they know you'll be classed as 'overseas' in two months...