Top tip for cheap insurance!
 

I have managed to get both mine and my mates insurance premiums down dramatically by brokering our selves via Fax... it's simple...

1) get the fax numbers of as many insurance brokers as possible (I have a list of 50 odd so far and will share them/post them if others add to the list, and ultimately build a comprehensive list)

2) Fill out a word doc with all the questions that they will ask you (Again I have a template)

3) Use a PC Modem to FAX all of the brokers over night (can take a few hours as the form is 4 pages long!)

4) Wait until they Fax back their quotes

5) Re Fax the best Quote to all of them again

Repeat steps 4 & 5 until you are confident you have the lowest possible quote!


To put this into context... I have a Speeding Ban, and Two Bikes (750ss and Yamaha SuperMoto) and NO garage.. I am 30 Live in London, and insure both bikes for under £400 Full Comp, £100 excess, Euro & RAC cover, and Legal Expenses Cover... Not bad really!

To emphasis what a rip of it is getting just a few quotes, my mate just got a rediculous renewal quote through, so he used the Fax Broker System... and believe it or not, the company who did the best deal eventually, was the company that initally gave hime the renewal quote!!! They all just try it on, and see if you'll pay it!

Also a couple of companies Faxed back saying that several of the companies faxed were the same Group just trading under Different names.. which is all the more suspicious in artificially keeping the premiums higher!


Any how it worked wonders for me.. basically the money I saved on my car and bike insurance, gave me enough spare cash to buy the Supermoto! Now that's a result!:lol:

Excellent!
 

My renewal is'nt due 'til January. If you have a site I can download the paperwork from (or e-mail me) then I can "fax" it all on the PC's e-mail at the right time.

:ninja:

s
 

oh

I think the reason they use more than one trading name is for marketing purposes. If you decide for whatever reason that you are not going to ring one advert, then they have a second (or in one case I know over 7 trading names) bite at the cherry!

Also not many of them publish their fax no's so where can we get the list?

I still say the broker we got cover from with an MV on 1 years bonus at £6-700 is well worth ringing http://www.dwlaxton.co.uk
Tel: 0870 444 6365/3
Fax: 0870 444 6366/4 :lol:

Have fun faxing!

Getting the Fax numbers
 

It's quite easy really.. phone them up and ask'em... it's much quicker than sitting on the blower for 10 mins a pop getting an uncometative quote with no hard 'proof' to send to another competitor to beat.

attached are the numbers I have got so far.... PLEASE ADD TO THIS LIST:

1. Bennetts Tel:0800 056 3843 fax: 02476 222 635
2. Bikesure Tel:0845 130 75 85 Fax: 01553 841 962
3. Insure Tel: 08706 080 015 Fax: 0870 111 89 54
4. CIA Tel: 0870 444 2 777 F: 08700 729 730
5. Cofield T: 0800 107 0129 F 0121 386 7887
6. Choice T 0800 542 53 54 F 0151 221 5466
7. TITS T 0870 444 1515 F 0870 444 1515
8. Insurance line T 0800 692 7034 F 08707 500 666
9. Motorcycle direct T 0870 755 82 50 F 01454 415 652
10. Devitt DA T 0800 200 369 F 0870 241 2358
11. H&R T 0845 130 2800 F 01224 848 283
12. MCE T 0870 90 90 996 F 0870 420 75 73
13. Roadsure T 0845 602 1200 F 01793 533 895
14. Vauntage T 0870 757 2224 F 0121 693 6989
15. Revolution T 0800 068 3083 F 02476 257 160
16. Wicked Quotes T 01727 766 834 F 01727 766 835
17. Pegasus T 01277 202 405 F 01277 202 406
18. Rampdale T 0870 444 6125 F 0208 442 0031
19. Carole Nash T 0800 298 5500 F 0161 927 2404
20. Insurance shop T 01296 481 116 F 01296 399 431
21. Laxton T 0800 083 09 03 F 0870 444 6366
22. Lancaster T 01480 48 48 48 F 01480 484 854
23. Nova T 0870 220 2656 F 0870 443 0302
24. Atre Valley T 01535 656 753 F 01535 657 489
25. Performance direct T 0870 870 4822 F 01708 176 145
26. Chandler direct T 0845 600 0031 F 01924 366 813
27. 1st Quote T 0870 4444 060 F 0208 597 3153
28. Policy Shop T 0800 064 4404 F 02476 619 272
29. Hastings T 0800 11 1066 F 01424 735 702
30. Winners Direct T 0870 774 9555 F 01392 423 671
31. Tangent T 0800 092 52 38 F 01803 55 13 28
32. Mitchell T 020 7281 9090 F 0207 561 9379
33. Superbikes T 0870 36 66 66 5 F 01934 41 88 66
34. Ashbourne T 08707 425 365 F 08707 425 366
35. Bikerline T 0800 298 8777 F 01484 714 244
36. Bike team T 0870 897 77 33 F 01707 658 762
37. Ride sure T 0800 138 20 30 F 01424 735 702
38. Wheel Power T 0800 583 5832 F 0208 303 8295
39. CM Insurance T 0870 77 43 210 F 01708 446 432
40. Dial Direct T 0800 068 8002 F 02476 257 160
41. CG T 0870 7519 999 F 0870 751 8888
42. Twist Grip T 0800 093 2234 F 0208 303 8295
43. Torview T 0800 195 9551 F 0208 395 8181
44. Pilgrim T 020 7561 7707 F 0207 263 4040
45. Rider Direct T 0870 9000 959 F 0870 420 7573
46. Smart bike T 0845 130 4570 F 01628 605 779
47. Profile T 0800 028 5343 F 01933 410 865

Nice one Simon....
 

....is the PC fax s/w a standard Microsoft type product?

Tim

HERE\'S THE FORM TO FILL OUT
 

Below is a link to download the form I fax out. :devil:




Click here to download a word document of the insurance application form

The Software I use is 'WinFax Pro 10'

It is great because it lets you input all the contact details, then set up a 'Group' which contains all the Fax numbers of the Insurance Companies...

Then all you do is Fax this out in the evening (after 10pm to make sure that they have all left for the night, and cheap rate calls!) as it can take several hours to complete all of the faxes to be sent, and ties up your phone line. This way you won't miss a response from a broker, as you phone line will be free again in the morning!...

Then just sit back and wait... and when the best quote comes in, you already have it digitally on your PC in WinFax, so you buzz it out the next night for them all to beat!


I am sure most other FaxModem Software will do this, I just happen to use WinFaxPro

Brilliant

Add the following:

Riders Choice: Fax 0121 382 8384
superbikecover.co.uk: Fax 08704 421852
They also have a good form which could be used as a template as it doesnt have a brokers name on it: http://www.insurancesecurity.co.uk/bikequote.html

Also there are some duplicates from my experience:

Twist Grip & Wheelpower are the same.
Revolution & Dial Direct are the same as Bennetts.
Mitchells and Pilgrim are also linked.
Tangent went bust earlier this year!

Have fun faxing. ;)

Simon
 

How much do you reckon you saved doing this?

Tim

Cheers for posting the info Simon

How much did I save
 

Ok here's the scoop... I had 2 years no claims... no garage... London address, and a Ban for speeding... so things are stacked up against me to say the least!

I was getting inital quotes of £900-1300 3rd party Fire & Theft!!! and £1200-Won't Quote for Fully comp!!!

Cutting to the chase I now insure 2bikes Fully comprehensive, with a tiny excess, breakdown cover, 3rd party other bikes, Euro Cover and legal insurance for a tad over £400... not bad egh!

Our household also has to insure a Modded Coupe 20v Turbo (got this down to £450 from £1700!!) and a 206GTi (got this down to £370 from £900)... and with some jiggery pokery we have saved best part of £2k in poxy insurances this year...

So if the question is is it worth doing...

Well it worked for me big time.. (and quite a few of my mates now also!):devil:

Cheap Insurance
 

So if you fill out the word doc attached and fax off using the PC do they not ask for a brooker ref NO or something??
thanks

mark

Nope
 

You might get the odd jobs worth that phones up and says can we go through it on the phone, even through they have the information infront of them (My mate did get a few calls wanting more details on an accident.. but that was it... 2 mins on the blower, and they were off again.)


Guys n' Girls...

Make sure you post how much you saved (in terms of money & percentage (if your an old duffer that lives in the middle of knowwhere and had a renewal premium of £200 for your 999R, and got this down to £100, then this is a massive 50% saving... but not a lot in terms of cash...) so we can get a better guage on how good it works, and how to refine it.

Brilliant !!!!
 

As an old duffer who lives in the middle of nowhere, I'm still staggered by the the cost of insurance. I wish I had known about this in late June, because I've just renewed with Bennetts, who I was with last year as well, because despite all my ringing round they were about the best.

This scheme is fantastic, but a thought has just occured to me how it might be made even better. Because, you're still dealing with brokers. For me, Bennetts just front the deal with Norwich Union who actually insure the bike.

Now I can't toddle of directly to the insurers, because their business model, in this case. is constructed to let the brokers do the legwork and they don't want to deal directly with individuals. Naturally, the brokers (even the keen priced ones) have their overheads, and the percentage they mark up is down to how efficiently they run their businesses. But, we're still paying the middle man.

I can understand the insurers not wanting all the admin overhead of dealing with the public in ones and two's, but what if their were loads of us? Something like errrrr....the DSC in fact!

What sort of pricing structure do you think NU or someone like it would offer if the DSC approached them as a broker? I'm sure we could have a web page form on the site (available to paid up members only) where people could pump in their details and send it round (just like Simons idea) but directly to the insurers (even Lloyds Names if need be :D).

I have absolutely no idea how the insurance industry is structured so this idea might be complete pants. But....

It might just work!
 

I don't see why a club should be able to set up as a preferential broker to the big insurers... it's worth a dialogue with them... question is who to approach, and at what level first?????

Answers on a postcard

You might need a licence from the Financial Services Authority - they are making all general insurance brokers and mortgage brokers join from late next year.

It's worth a gander

there would be a number of things that i can think of that spring to mind.

We would need to be a member of the GISC and we would also have to ensure that we adhered to the FSA etc. We would also have to think about how payments etc were going to be made as there could also be implications around being a licensed credit broker etc. I'm fairly sure that all of these things could be sorted out, probably by setting up some sort of white label scenario with one of the major insurers. We would also have to make sure that we established ourselves as an intermediary or agent selling a DSC branded product which is underwritten by the chosen insurer.

The other thing is that we would be tied to their pricing structure if we were to take this approach which would not be the best thing for a lot of people although it could benefit one or two people whom the insurance company believe to be good risks.

I'm not 100% sure on how this would work if we were to be a broker though. We would probably be better of choosing a broker to be our preferred supplier of insurance and negotiate a better deal that way. I know someone that might be able to help with all of this, I'll send him an e-mail and get back to you when i can.

Sorry for the ramblings, I've just been throwing things down without thinking enough about what I'm writing.

Puckka... let us know how you get on... setting up a single tie with a single underwritter will no doubt be limiting... I suppose it's about setting up relationshipd with numerous preferred suppliers / underwritters and that way you can ensure you get a competative perspective on all the quotes returned....

From my experience when you ask for a quote they just spit back a generic quote which makes sweeping generalisations about you based on the information provided... it's only when you start hassling them to speak with an underwritter directly that you see real results... you can almost guarantee that if you object an 'excess' quote, the underwritter will be able to reduce it some how....

I have found in the past that by not declaring a garage, or immobiliser, then enquire about the discount they would give you 10% for this... 5% for that etc... you'll find that the quote comes back cheaper than if you declared them upfront... (brokers keeping a percentage for themselves????)

anyhow it's all just a system... and systems can be beaten, or at least 'played' so I am sure that we can find some loop holes / techniques to drive down insurance costs....

so who has the answer to life?

For my sins, I work in the insurance industry, not as a direct broker but asa virtual insurer. I envisiage that we could set up multiple deals with other brokers and underwriting agents all fronted through one ducati insurance portal. I have registered an internet name for this today - it will take two or three days for this to come up :o !

We would work out the benefits that members want - feedback please - and arrange for these to be built into all the policies:

For starters:

Riding other bikes extension as standard
breakdown recovery

Please let us know more.

You could also have a full benefits policy and a minimum benefits policy depending on the criteria if you wanted

I look forward to feedback to this idea and any areas you feel underwriters should take into account as standard.

Being able to cover expensive bits like mag wheels and exhausts would be good! :D

What a great idea.

Nice one Simon.

Ducati sps
Do you know how the broker type systmes work? Do they get given standard pricings which they can then put a mark up on from the underwriters? If so, then presumably they then build their own pricing systems to generate quotes when people phone in?

It is possible that due to the comparatively low volumes that we would generate such systems would not be necessary and possibly a standard form on you're website could be completed and then we could send out e-mails to the various underwriters that we may have deals with?

I'm just not sure how we could actually make this work at the moment? I like the idea and could do a bit of research as I also work in the Insurance industry - I just need to get a better idea of the possible business model.

Just got a letter saying I'm getting done for 40mph in a 30mph zone (on a dual f**kin carriageway :mad: )
My insurance is up for renewal in a few weeks, and I have a month to send the form back, so can I not mention anything to my insurers seeing as I dont actually have the points yet?

Carefull DJ as they do ask if you know of any inpending prosecutions.

Damo748

Bike insurance is very very fragmented. Not at all like car insurance - because there is less of it. The trend is towards computerised quotes, but at the top end the rating structures are well out of line with the real world.

What happens - and it is very cyclical - is that as the rates go up, so smaller insurers decide to take a share - they do this by delegating authority to brokers by providing them with a rating matrix and some authority to make decisions. They also have referal teams which deal with bespoke quotes.

What I would envisiage is a model which brings together a number of hungry brokers and underwriters who want to write this type of insurance. It is actually attractive business as far as I can see as Ducati owners pay more for their bikes and look after them (!) :lol:

we'll look into the modifications and see what we can do

Hmmm, what if the letter "got lost in the post"? :D

I cant beleive it, no speed limit signs, and it was a dual carriageway! How unfair is that! :(
Still it was worth it ;)

Superb stuff.. looks like this might even go somewhere! (Not so good news about the speeding... I lost my liscence because of doing 47 on a Dual carriageway, which turned out to be a 30... well pi55ed off:mad:

Just a quick thought, does anyone here know who underwrites the current Ducati Insurance scheme?

I know that it is a broker that fronts it all and deals with most things but if we could possibly deal with the underwiter direct it would make things easier. The other option might be to talk to Ducati UK and get buy in from them, hopefully they wouldn't dismiss the idea saying that they have already provided a scheme (albeit one that has a middle man and who would be milking their share).

We need a project manager to run this!!!

Damo 748
Norwich Union underwrite Ducati Insurance. Ducati UK have a deal with the broker to use the name and promote instore etc using the ducati graphics.

I don't think you can get away without costs - you say you'll need a project manager - that will cost. So will the Professional Indemnity Insurance, cost of regulatory compliance, general running costs. An existing broker will have economies of scale and therefore would initially have a pricing edge.

I will post more later. An initial web may be set up over weekend

project manager bit was a joke! ;)

Ducati SPS
Would it be feasible to get a single underwriter to provide a flat rate scheme directly rather than spreading the members business thinly? I believe that there is scheme like this for Subaru P1 drivers, no other model is insured but they can get it for about £750/yr, I think this varies depending on the previous years total claims etc. Clearly this price makes it attractive for the P1 guys and I think they are covered whatever state of tune they are in. As you say Ducati business must be an attractive proposistion.

For my part I would be happier with a scheme that provides cover for any mods (should I do any) leaving no grey areas rather than saving £50 and hoping....

Nice one DucatiSPS.... :devil:

Thanks Simon for this post, I do normaly phone around for car insurance and it is a right pain in the bum. A main part of my job is phoning around and getting the cheepest price for print for my clients, so when it comes around when I have to do it for myself its so time consuming, I never thought about faxing details....and as I will be taking my Motorbike test in a couple of weeks I will need to start thinking about using your form and all those numbers.

Thanks again mate

Kel :saint:

Bollox done it again!!! wrong user name..

Kel :saint:

Kel...

Good luck with your test...

also who do you work for.. we outsource out print work, so it might be worth touching base... simon@elasticbrand.com

cheers for this Simon, you're a star!

I've just been stung another £191 to insure the 888 for the remaining 4 months of my existing policy which was for a 2000 GSXR600 TPFT.

Cheeky sods initially said they wouldnt insure the 888 TPFT and that I would have to cancel the policy and start again (with no refund for the time remaining)

I persuaded them to upgrade the policy to fully comp so I wouldn't loose my NCB but like i say its costs me £191 which I have to pay in full :(

Come october me and the boyfriend will be trying your method.

We have now set up the portal site.

www.insuremyducati.co.uk Its only a very simple site to start with. We are selecting new sponsors and underwriters as time moves on.

Give it a try and we'll see how it works.

any feedback send to ducatisps@insuremyducati.co.uk. Please don't add this to any listings - I don't know about you guys but my dsc e-mail address gets masses of spam! :mad:

The last few days of the month are always a good time to haggle cos they have targets to meet etc, friday afternoon being the best time!!!!