Thanks to Paul Dowson for this information:
Bikers count the cost of speeding
Being caught speeding could lead to a huge rise in the cost of motorbike
insurance, on top of the minimum £60 fine and three points on their licence,
bikers are being warned.
For young riders in particular, a conviction for speeding or other motoring
offence can lead to a sharp increase in the cost of insurance.
For riders under 20, a single conviction will increase premiums by more than
60 per cent on average, to just over £1,000 a year, according to Confused.com's
database of motorbike insurance quotes.
Motorcyclists in their thirties will face costs around 18 per cent higher –
£303 as opposed to £257.
Older riders fare better
For older riders, however, the impact of speeding conviction is much less
drastic.
Those in their 40s would see the typical average cost increase from £167 to
£172.
But riders aged between 50 and 60 would not be affected, with
their average premiums remaining at £156.
Alex Higgs, motorbike insurance manager at Confused.com, says soaring car
insurance costs are leading young people in particular to opt for motorbikes and
scooters.
‘New-found freedom’
Higgs says: "Bikes are a much cheaper way to get around. But young riders
shouldn't let their new-found freedom go to their heads and drive too fast or
recklessly.
"On average, a teenager with a motoring conviction will have to pay an extra
£400 the following year versus one without.
"It’s worth considering that the fine for being caught speeding isn't just
£60, it's effectively £460.
"So, tempting as it may be to push your bike that bit harder, is it really
worth the extra cost?"
New registrations up
Figures from the Motor Cycle Industry Association show that new registrations
of
scooters – the style of motorbike
most favoured by cash-strapped youngsters – was up almost 12 per cent in 2011
compared to the previous year.
The increased popularity of small-engine bikes is thought to be at least
partly due to the all-time high insurance costs faced by newly qualified car
drivers.
The Confused.com Car Insurance found that the average male driver
aged between 17 and 20 was paying £3,730 a year for a comprehensive policy.
Women in the same age group face yearly premiums of £1,960.
These rates are significantly higher than the typical cost of
insuring a motorbike, which is £621 a year for those in
their teens, and £535 for those in their twenties, according to Confused.com
figures.
Cheaper cover for scooters
But being caught speeding is not the only way to increase the cost of cover -
the type of motorbike also has a large bearing on insurance premiums.
More expensive and powerful models cost far more to cover than mopeds and
scooters due to the potentially greater damage they can cause, as well as the
fact they would cost more to repair or replace.
For example, a teenager wishing to insure a Yamaha YZF-R1 superbike would
typically pay almost £6,500 a year for cover, while annual premiums on a
Kawasaki ZX-6RR Ninja would be more than £5,000.
At the less powerful end of the scale a Honda SH 50 City Express would cost
about £213 for a rider under the age of 20 to cover, based on quotes
