Any thoughts 🤔?

[Ian]

https://www.visordown.com/news/industry/mile-insurance-launched-america-future-motorcycle-cover

[Steve Lake]

Bloody good idea in principle ... i can't see carol nash or bennetts or bikesure taking it up, it'd have to be a new entry to the bike insurance market.
also, knowing some of the devious sods, i can see ownership of multiple speedo's being a popular pastime (ok, i know that on newer bikes (as with cars) the odometer is held within the firmware of the machine and is inaccessible.... but for us old buggers with even older machines there's plenty of scope for abuse of the system. i remember a work colleague many years ago, who removed the speedo connection on his austin allegro every other week, to keep the mileage low so that he got top dollar when he sold it (we were covering 25K + miles a year at the time as field engineers for a well known computer company ;-) .

[iansoady]

25k a year in an allegro? Everyone (not me) will tell you it's impossible.

[Steve Lake]

lol Ian, yes, does sound improbable doesn't it .... but he only kept his cars for 18 months max, then px'd them at the dealers for a new car, hence keeping the recorded mileage low.
it does remind me of a guy i worked with in the RAF, very keen on sports cars, bought himself a nice looking MGB, when he came to sell it he removed the speedo, bought it into the instrument workshop to open it up and 'adjust' the odometer ..... on opening it he found a scrap of paper inside, on which was written ... 'oh no, not again' ......

[Mutt]

An interesting post this.

Having spent over 40 years gainfully employed within the UK insurance market place I have experienced, seen and delivered quite a few "reinventions of a wheel" for insurance covers and IMHO this is not new, but may be the first for motorcycles marketed in that way? Some say: What starts over there, comes over here!

Generally these so called INSURETECH's, are marketing lead businesses who say they are based upon research of what buyers want and use "BIG DATA" to prove those needs so launch the product. In the past decade or so there have been quite a number if these "new wheels" that have made a big splash in the (insurance) press but have not gained real traction with buyers and so they fade away. It would remain to be seen if real people BUY the product having bought into the concept because the inference is that it will be cheaper and in real life terms that has not been proven.

There are a number of insurance covers offered in the UK that will cover multiple bikes, recognising you can only ride one at a time and need mileage declarations so to calculate the annual cost. If needed some will provide facility to pay the premium monthly.

Innovation and technology should not be ignored but embraced - the Smart Phones are the best example I know of - but it has to work for the user/buyer in a cost effective way. If a similar product is launched over here I won't dismiss it but would look at it to see if it works for me.

[richardeblack]

I must confess that I can't really see how this can work on old bikes that are so easy to fix the mileometer.  Easy on modern stuff with ecu.
I have just insured with RH Specialist Vehicle insurance who charged me £85 for two XBRs fully comp and full recovery breakdown cover. The key thing for me is that there is no admin fee for changes or cancellation. They are quite happy to cancel one bike and refund (provided it is above a threshold) the remaining cover. Seem really good. I was recommended to them by my local car accessory shop who have used them for years.
On the Allegro front, I had one for a few years and clocked up 170,000 trouble free miles. Scrapped it because I couldn't sell it and had another car. No one would buy it. I'd have an estate one tomorrow if I could find one. (Sorry about that digression).