Quote:
Originally Posted by
Rybenuk
Hi guys, just got my first renewal through from Bennetts and premium has gone up from �34/m to �49/m!!!
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You say per month, so this might not actually be the premium. Lots of brokers have put a huge markup on financed premiums. It's not the premium that has gone up by such an amount, it's the ability to pay it monthly.
When the renewal for the TTR came through, a whole �75 for the year, Carol Nash, or rather JustBikeInsurance, offered me the ability to pay monthly, which was something like �70 up from, then �20 a month for three months...
Consider other ways of paying the premium, some credit cards have 0% interest on balance transfers. So you could pay your insurance on one credit card, then transfer the balance to a 0% one and you might make a saving.
There are lots of things that affect your premium, from where you live to the job you tell them you do. I dropped my premium by changing from 'Consultant' (which is what my employer wants to call me) to 'Telecoms Engineer' (which is what my employers business is). You cannot lie on these forms, but when presented with a list of employment choices, you can chose carefully.
Having a mortgage, or children helps too (although it's false economy to get either just to reduce your premium!).
Suprisingly, alarming your garage, or using multiple locks, or any other security measures above the 'list' they have makes no difference at all. Stupid in the extreme I'd say.
Having modifications made no difference to my premium this year, I listed everything and the cost - Carol Nash told me unless it increases the power by 10% over the advertised power of the bike it didn't matter. I sent them a letter detailing all my modification, and the prices, to them. If the bike gets nicked then I want to ensure they have a full list of what is there.
Use the comparison sites to see how you can get your premiums down by tweeking the answers. Or better still go to Martin Lewis's site
www.moneysavingexpert.com for some other advice or cashback deals.
EDIT - I had a dual bike policy (Tenere & XJR1300), when I took the XJR1300 off, the premium went up ! Go figure that one out......