Falling Premiums See Biking Race Ahead In The ‘New Austerity’ Stakes

Aug. 5, 2010 - PRLog -- Carole Nash, which provides insurance for over 300,000 motorcycles – equivalent to around 25% of all licensed machines – says that between May 2009 and May 2010 premiums fell by as much as 2.88 percent for supersport, roadster, sports, tourer and trail bikes. In comparison, comprehensive car premiums reported record growth of 18.7% in 2009 with further increases predicted for this year*. The average comprehensive motorcycle premium in May was just £142.43 whilst the average car premium in the first quarter of 2010 was put at a whopping £968.26*.
   
In addition, over the second quarter, car insurance rates rose at the fastest rate recorded over the past 16 years, increasing by 11.5%*.
Bike Category   % Change
Trail   -2.88
Sports   -2.46
Supersport   -1.75
Roadster   -1.95
Tourer   -1.15
Custom   +2.3
Commuter   +2.38
Scooter/moped   +3.56

Comparison of motorcycle insurance premiums by category May 2009/May 2010

“Our research demonstrates once more just how financially attractive biking is, especially at a time when belts are being so severely tightened,” commented Carole Nash’s commercial director, Simon Jackson. “It’s not just the fall in motorcycle premiums,  which contrast so sharply with what’s happening with car insurance, but the significantly lower purchasing and running costs which two wheels offer over four.”

He urged those interested in swapping car for bike to check out the comparative costs using the travel savings calculator featured  on the website of bike campaign group, Geton (www.geton.co.uk). Geton is also offering people the chance to get a taste of biking by offering free rides on motorcycles and scooters with hands on experience and advice from a qualified trainer. Those that have have taken advantage of the free ride offer include cricketer Darren Gough, Classic Brit award-winners Blake, former Grease star Ray Quinn, poet Tamsin Kendrick, Blue’s Simon Webbe and 12,000  members of the public.

“Geton is a brilliant campaign which we enthusiastically support not least because it gives people the chance to get bitten by the biking bug  by taking  their first motorcycle ride, totally free,” said Mr. Jackson.

To see how much you could save on your motorcycle insurance, get a free quote from Carole Nash on 0800 988 6982 or visit http://www.carolenash.com
*Source: AA British Insurance Premium Index.
Ends
Editor’s Note:
1.   Carole Nash was ranked as the UK’s 38th biggest UK insurance broker in August 2009 by Insurance Times magazine and employs over 300 staff in the UK and Ireland. It provides insurance for some 300,000 classic, vintage, modern, custom and off road motorcycles – around 20 percent of all licensed machines. Its market-leading status has also been confirmed by the independent bikers’ survey, RiDER Power, which has found the company the Most Used Broker in 2002, 2003, 2004, 2006, 2007, 2008 and 2009. The company is also a leading player in the classic car sector with its portfolio also spanning modern car, van, military vehicle, travel and home insurance.

2.   Get On is a three year campaign to get the nation biking and is funded by a levy on every motorcycle and scooter sold in the UK by participating Get On manufacturers and dealers
•   The official website www.geton.co.uk gives details of the companies who are supporting this campaign
•   Riding taster sessions are free and details of where they can be taken are on the website
•   You do not need a car licence in order to 'Get On' but must be aged 16 years or older
•   A motorcycle, or scooter if preferred, riding jacket, gloves and helmet will all be available, free of charge, at the training centres offering the riding taster sessions
•   Each taster session lasts for approximately one hour
•   All riding is conducted in a safe environment and does not take place on main roads

For more information about Get On please contact the Get On Press Office:
E-mail: getonpressoffice@capitalize.co.uk / Tel: +44 (0)20 7940 1700

Issued on behalf of:

Carole Nash Insurance Consultants, Trafalgar House, Manchester Road, Altrincham, WA14 1NU
Contact: Dawn Holmes T: 0161 927 2426     Email: dawnholmes@carolenash.com

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Consistently voted by UK bikers as their most used broker* Carole Nash is this year celebrating 25 years service to the classic and modern motorcycling communities. Listed among the UK’s top 40 brokers. Visit http://www.carolenash.com