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Riding Experience and Insurance cost - Too much experience?
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Recently paid my annual premium for the six motorcycles that I have and noticed that the premium for my 2020 1250RS had increased by almost 50% over the previous year. Haven't had any accidents or tickets. Have been with this agent since 1998. |
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I have not heard that one but in the UK the underwriters' data show that those over 70 are more likely to make a claim and premiums are adjusted accordingly.
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Zitat von Unkgd im Beitrag #1 Pssst. They were LYING. If they hold YEARS of experience against you, it is de facto age discrimination. I'd change insurance companies but also see if they can be reported to agencies for discriminating against older riders. The 50% increase on ONE bike would be better pawned off by saying it was because of potential repair costs.
I’m a Notary Public. RESPECT MY AUTHORITY!
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Zitat von Unkgd im Beitrag #1 Past my test in 1962 and apart from University been riding ever since doing 8K to 15K pleasure miles a year. Never been aware that 50years experience affected premium. This forum reports premiums of £100 for RS but never been able to get anywhere near that and currently pay £270 for 2020 R1250 RS exclusive. Last year it was over £300. Main reasons for cost I am given is my age- I will be 76 shortly and the age/cost of the bike. Cost reduced this year because bike is one year older. John |
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I renewed my $250K/$500K liability-only R1200RS insurance policy with Progressive earlier this month. My premium did not go up. I live in California just south of San Francisco. I am still paying $102 for an entire year. I have been riding continuously since 1962 and am 77 years old. I have 6 motorcycles insured with Progressive.
Current motorcycle collection: 2002 Yamaha FZ1; 2020 KTM 390 Duke; 2011 Royal Enfield Bullet 500; 2009 BMW F650GS; 2016 BMW R1200RS; 2018 Zero S 16.6 kWh
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Zitat von andygriff im Beitrag #7 I doubt anyone could claim age discrimination in relation to an insurance risk as long as the underwriter has the data to back up the difference in premium just think about life insurance - it is pretty obvious the risk of a claim increase with age, so premiums will be higher if a £100k policy inception is at age 55 compared to 35.
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Wed Jan 19, 2022 3:07 am (Last edited: Wed Jan 19, 2022 3:10 am)
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For some reason, they no longer like you as a customer. I would look elsewhere. Old Forum Orphan |
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Hmm. I'm not so far from the magic 70 myself. I have over 51 years experience and I'm an examiner at advanced level. I ride on track, on road and I engage in training of all types. I've probably never been more 'on top of my game' (including an awareness of not getting too big for my breeches). I'll be mightily pissed off when my insurance premiums start to go up due to age. |
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Zitat von Unkgd im Beitrag #1 In my experience, in this politically correct world, "experience" is often substituted for "age" and while discrimination against "experience" is not prohibited, discrimination against "age" is more often than not, illegal. I agree that you should be looking for an alternative insurer.
Regards,
Grumpy Goat RSWasserboxer.com 2016 BMW R1200RS 2014 BMW S1000R |
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Bill, |
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