This year it is anticipated that the cost of bike insurance will soar to an all time high. Insurance companies and brokers, believe that the cause of this is because there has been quite a large increase in the percentage of companies now providing bike insurance. Therefore competition in the market has also been heightened.
The domino effect that this has had on the market means that various companies have had no choice other than to rapidly reduce the price of their insurance, in a seemingly desperate bid to match or better the quote riders have already been quoted. Conventionally motorbike insurance used to be sold to the customer over the phone for years. Now what we are observing are many companies who have call centres, which are gradually becoming invisible, as the internet has become the Holy Grail with regards to finding the cheapest prices.
However when a call centre is fortunate enough to get an inbound call, the sales person’s only objective is to offer the lowest price possible in the hope of closing the sale on the spot. It seems that the various insurers have had enough and are collectively going to increase their rates across the nation, to end any further reduction in prices.
