Crazy new insurance premium

[Big Guns]

I have insured my Ducati Monster M795 with Thai Sri insurance for the last 3 years and I've never claimed for a single satang. The annual insurance premium has consistently been about 16000 THB. I just received a new insurance quote of over 25,000 THB. When I called them I was informed that they have increased all premiums by 70%. They also said that it didn't matter that I hadn't claimed as they were refusing to re-insure anyone who had previously claimed on the insurance.

Has anyone else had a similar experience? There must be a lot of people crashing their Ducatis as this was the insurance that was recommended through Ducati.

[JonnyF]

That's pretty bad, I wonder if that's just Ducati or are all big bike premiums going up?

It wouldn't surprise me to be honest, all these affordable big bikes hitting the market and people able to jump on litre bikes etc. without a proper test. Added to the existing road conditions I was always a bit surprised the premiums were as low as they were before.

Have you tried AA insurance? They did my GSXR (first class insurance) for under 10k last year.

[Big Guns]

The decent riders are being penalised for the plonkers with no training who have accidents. In 10 years of riding bikes here I've never made a claim. I only ride the M795 once a week (7000 km in 3 years). The arrogance and lack of customer focus of some Thai firms never ceases to amaze me even after 10 years of living here and teaching Business Management and Economics.

[andrewrooney]

Lockton is worth a shot too. No idea how much they'd want to insure a Ducati but it's worth shopping around and checking with as many companies as you can.

[eisfeld]

My guess is they just want to get rid of all Ducati or even all big bike customers. When I bought my Scrambler they didn't give me Thai Sri but Arkney.

They probably figured out that it's not profitable, Ducatis are usually expensive to repair and easily exceed the 5k deductible.

Though on the other hand if their customers exceed 16k THB in claims on avg per year, they got some pretty shitty riders as customers or the bikes get stolen a lot.

But one thing is clear: when they up the premium by such a huge margin and at the same time refuse to keep customers with any past claim, it mains they have been very mismanaged in the past.

[robblok]

I recently got my insurance for my Kawasaki ninja 650 from AA insurance brokers. The price did not go up.

[Big Guns]

AA came in with a quote of 17 000 THB so looks like I'll be going with them. The information I've got from my wife via Thai forums is that Thai Sri do in fact seem to be increasing premiums across the board (irrespective of no claims) as a result of those riders who have made expensive claims.

[ttakata]

I remember back in Colorado in 2001 my CBR600F4i insurance was $120 a month or ~47000 baht a year.

I never had an accident that was my fault on my record either.

So considering a Ducati 14 years later; your rate is very cheap.

It never hurts to shop around other insurance too.

[NormanW]

Just renewed my Z1000 2013 with Falcon for 12k.

[WingNut]

Tokyo Marine has also been discussed.

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[Big Guns]

Unfortunately Tokio Marine and Falcon won't insure Ducati bikes. There are 2 or 3 firms that specialise in insuring Ducati one gave a whopping premium of 30,000 Baht. So AA will be getting my business.

[eisfeld]

http://www.segroup.co.th/ insured my Ducati Scrambler for 18k THB.

[WingNut]

All these insurance companies, you got to wonder though how they pay out when it comes to actually making a claim. What they charge you is one thing, but what they pay you when it is their turn to pay might be something different. One has to wonder...