One of the most dreaded letters that I could have received before the year comes to a close, finally arrived in the post today. Yes, it's been almost a year since I last paid for my Vespa's insurance. Fortunately, it wasn't too bad. The cost of the renewal premium was within my already over-cautious budget. At first, the €297 quoted by Carole Nash for TPFT (Third-Party, Fire and Theft) cover seemed high but after doing a bit more research, it turned out to be very good. Well, very good is relative especially when it comes to the cost of things in Ireland.
Normally, when it comes to all things financial, my first port of call would be the Financial Regulator's very consumer-friendly site which gives very good independent advice on the costs and services of the various organisations that fall within its remit. It's not a up-to-date as I'd like it to be but at least, it's a good starting point when comparing insurance costs.
Unfortunately, although most types of insurance products are discussed and analysed in detail, the cost of motorcycle and scooter insurance seems to have fallen under the radar with no mention of it whatsoever. So, it was back to square one. Quotes from every single insurance broker that provided scooter insurance cover had to be obtained as soon possible.
Thankfully, there were only two others in competition with Carole Nash, Quinn Direct and AON Bikecare. Both of them have decent online quote systems on their sites so, it made my job easier. Based on my past experience, Quinn always provided decent quotes and were never too far off its nearest rival but, I was fairly disappointed when they quoted me €468 for the same level of cover provided by Carole Nash.
Maybe the company's own financial woes were effecting it's ability to compete with its rivals but that was not my problem. I was looking for the cheapest possible quote and they couldn't do that so, off I went to AON's site.
With AON, I wasn't expecting much as I've always been quoted the most ridiculously high premiums from them. The broker stayed true to form when their system blurted out a quote that was almost double the amount quoted by Carole Nash and €76 dearer than Quinn's. The answer to their system's question was a quick No Thanks.
Note to self: Don't even bother paying AON's site a visit next year. Also, do get the test out of the way ASAP. It just doesn't make sense to give the insurance companies an excuse to rip you off on an annual basis.