Cheapest Bike to Insure

[bunchofkeys]

This coming July i will need to insure a motorbike of some kind, so i do not lose my No Claim Bonus.
The last insured bike i owned was back in 2019.

So, can anyone tell me how i can obtain something to insure, just so i can keep my 6 years of NCB valid?
Is it just a matter of finding the cheapest bike on BikeTrader and insuring it?

Not looking to ride any time soon, just really want to my NCB to go to waste.

[essexd]

Cheapest 50cc ped you can find I would assume

[spoodler]

Obviously, I don't know your situation or your insurance costs, but have you actually worked out that buying a bike and insuring it will be worth as much as a few years NCB discount when/if you buy another bike some years down the line... It would be easy to just cause yourself hassle and expense, especially if the "cheap 'ped" ended up being nicked etc..

[bunchofkeys]

spoodler said:

Obviously, I don't know your situation or your insurance costs, but have you actually worked out that buying a bike and insuring it will be worth as much as a few years NCB discount when/if you buy another bike some years down the line... It would be easy to just cause yourself hassle and expense, especially if the "cheap 'ped" ended up being nicked etc..

To be honest, no, i've not tried to work it out.
Although, when i finally get around to jumping back on a bike, i feel that the NCB will play a bit part with keeping the premiums down.
Especially when the next potential bike may be something quite desirable.

[Scorched yellow]

Try a 250-600cc naked of some sort. Scooters and 125s are often much to insure due to obvious ownership and risk profile.

For me a Bandit 600 is 4x cheaper to insure than a Honda C90.

[spoodler]

I "lost" my (full) NCB after having bikes on a "classic" policy for a few years. I was a bit miffed that I'd be paying through the nose for insurance when I bought another modern. In my case, the insurance company took into account my history of not having a claim and the premium wasn't far different to the fully discounted price. I am in my fifties, and the modern bike wasn't a full on performance model - can't remember what it was, probably a lardy modern muscle bike.

[Donbot]

As far as I can tell NCD is a load of bks designed to get more money out of customers. Though that is based on my circumstances when insuring stuff without any NCD either because of gaps in insurance, or having multiple policies.

[kiethton]

My 2010 CBF600 was £65 TPFT despite my Croydon postcode last year. If just for the purpose of insurance mine is an MOT failure so for sale on FB marketplace spares or repairs for <£1k)

[_Neal_]

Donbot said:

As far as I can tell NCD is a load of bks designed to get more money out of customers. Though that is based on my circumstances when insuring stuff without any NCD either because of gaps in insurance, or having multiple policies.

That's not my experience with it - having come back to biking after a 10 year gap, even 1 year of no claims made a massive difference for me (early 40s, outer London postcode). What about something with gears (so less desirable) but older and slower, like a 1990s CG125 - be easy to sell on as well.

[Zarco]

Donbot said:

As far as I can tell NCD is a load of bks designed to get more money out of customers. Though that is based on my circumstances when insuring stuff without any NCD either because of gaps in insurance, or having multiple policies.

Yep.

[Zarco]

_Neal_ said:

Donbot said:

As far as I can tell NCD is a load of bks designed to get more money out of customers. Though that is based on my circumstances when insuring stuff without any NCD either because of gaps in insurance, or having multiple policies.

That's not my experience with it - having come back to biking after a 10 year gap, even 1 year of no claims made a massive difference for me (early 40s, outer London postcode). What about something with gears (so less desirable) but older and slower, like a 1990s CG125 - be easy to sell on as well.

Would it have been worth while insuring a bike for 7yrs just to keep your NCB? I doubt it.

[mak]

Donbot said:

As far as I can tell NCD is a load of bks designed to get more money out of customers. Though that is based on my circumstances when insuring stuff without any NCD either because of gaps in insurance, or having multiple policies.

Your not alone in that opinion amongst other bks within the insurance industry, I've never had a claim in over 20 years but because my last policy only gave a maximum of 9 years it would seem that's my new starting point for anyone giving higher no claims

All Bullst.

Never claimed on car insurance in over 35 years of driving but now have non due to just running my van for a few years. What a load of st.

[OutInTheShed]

_Neal_ said:

Donbot said:

As far as I can tell NCD is a load of bks designed to get more money out of customers. Though that is based on my circumstances when insuring stuff without any NCD either because of gaps in insurance, or having multiple policies.

That's not my experience with it - having come back to biking after a 10 year gap, even 1 year of no claims made a massive difference for me (early 40s, outer London postcode). What about something with gears (so less desirable) but older and slower, like a 1990s CG125 - be easy to sell on as well.

Are you confusing NCB with 'claim free years'?

Personally, as said in the multi-bike insurance thread, I've found NCB makes remarkably little difference.
Getting another bike and having no NCB to use on that policy costs about £10 more than using 9 years NCB.
Did change which insurer was cheapest IIRC

But insurance works in mysterious ways with many variables.
All you can do is get quotes with and without.
But even then, the market may change in the future.

I would imagine a <100cc bike is still the cheapest to insure?
Maybe kept at some relative's address in the Hebrides? ;-)

A good postcode and old age are your friends.

[gazzarose]

I've started to do a pacial restoration/recommision on a 1992 DR350, and with my NCB being used on my Ktm I need to start from scratch on the 2nd bike. 36, riding 6 years, South Wales postcode, 0 NCB, £74 fully comp Inc commuting! So if youve got some NCB already it should be cheaper still, plus you get to do some greenlaning!

[_Neal_]

Zarco said:

Would it have been worth while insuring a bike for 7yrs just to keep your NCB? I doubt it.

I doubt it too, that wasn't what I was saying.

Anyway yes I may well be conflating NCB with claim free years, but given the lack of transparency aren't they effectively the same, other than for multi bike policies?

[FatboyKim]

https://www.ebay.co.uk/itm/373923154195?hash=item5...

[Donbot]

_Neal_ said:

I doubt it too, that wasn't what I was saying.

Anyway yes I may well be conflating NCB with claim free years, but given the lack of transparency aren't they effectively the same, other than for multi bike policies?

It's just not claiming on your insurance.

I understand that having a massive gap in your insurance history will bump the price up. But as far as I can tell all insurance companies care about is how likely you are to cost them money based on your insurance history. Rather than caring about some arbitrary 'bonus' or 'discount' number.

[KTMsm]

I'd buy something that :

You will use / you'd like to look at / will appreciate

At least there's a benefit rather than just paying to keep your NCB alive

The less legal option is to just buy a V5 off a breaker and insure that

[_Neal_]

Donbot said:

_Neal_ said:

I doubt it too, that wasn't what I was saying.

Anyway yes I may well be conflating NCB with claim free years, but given the lack of transparency aren't they effectively the same, other than for multi bike policies?

It's just not claiming on your insurance.

I understand that having a massive gap in your insurance history will bump the price up. But as far as I can tell all insurance companies care about is how likely you are to cost them money based on your insurance history. Rather than caring about some arbitrary 'bonus' or 'discount' number.

I think we're saying the same thing, basically, but I don't view it as a load of rubbish or arbitrary - as I see it, "valid" (i.e. recent) NCB is nothing more than a description of your insurance history, in terms of claims and recent experience, and that feeds in to the insurers' assessment of risk, alongside postcode, security etc. Which as you say is what they care about.

ETA - I agree with KTMsm above - OP, why not buy something you'll actually ride?

[Donbot]

_Neal_ said:

Donbot said:

_Neal_ said:

I doubt it too, that wasn't what I was saying.

Anyway yes I may well be conflating NCB with claim free years, but given the lack of transparency aren't they effectively the same, other than for multi bike policies?

It's just not claiming on your insurance.

I understand that having a massive gap in your insurance history will bump the price up. But as far as I can tell all insurance companies care about is how likely you are to cost them money based on your insurance history. Rather than caring about some arbitrary 'bonus' or 'discount' number.

I think we're saying the same thing, basically, but I don't view it as a load of rubbish or arbitrary - as I see it, "valid" (i.e. recent) NCB is nothing more than a description of your insurance history, in terms of claims and recent experience, and that feeds in to the insurers' assessment of risk, alongside postcode, security etc. Which as you say is what they care about.

It kind of is arbitrary as there's no standard for what it is and what insurers will accept. Eg. Policies which give you a year NCD after 10 months. Or policies that don't even give you any for whatever reason.

We are pretty much agreeing with each other, but what I'm saying is that people tend to put too much value on retaining NCD.

NCD appears to me more of a marketing / customer retention tool.