Thursday 22 July 2010

Insurance for the bike

I thought I'd a few lines on this as it was an interesting experience. On my CG125 I had a good insurance deal with Carol Nash (~£120 third party with 1 years no claims bonus). My first thought when buying the new bike was to try and get them to transfer the insurance for a little extra top up. Just to be on the safe side when negotiating with them, I went to Bennetts and got a quote for £166 (comprehensive insurance including commuting to and from work) for the CBF600 based on my 1 years NCB, and 41 years of age. When I phoned Carol Nash I was stunned when the best deal they could offer me was for £450!!! I had a good opinion of Carol Nash before but after this I just realised that they were like any other insurance broker, only interested in hoiking in new customers and completely disinterested in maintaining loyalty. I find it difficult to understand why this is the case and wonder if it has something to do with how these salesmen are awarded their bonuses. Nevertheless, I went and tried another web comparison site. One of the cheaper companies coming up was CIA, a company with which I had insurance previously, but which I abandoned after yet another outrageous quote. Strangely enough just seconds after being on the website, I got a phone call from a salesman from CIA. I think it was the same guy who sold me the previous policy! He offered to beat the best quote that I had and did a deal for £160 including legal cover and lower excess (£200 + £200). I guess the moral of this story is that one has to really shop around every year for the best deal and be ruthless!

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