When you’ve finished your quote, you can purchase it online or phone our payment line at 01933 429604 to finish the process.
If you’d prefer to speak with a member of our staff, call our Renewals line.
What is going on with MCE Insurance?
After going into administration last year, MCE Insurance Company, one of the UK’s largest motorcycle insurers, is canceling all of its remaining 105,000 policies. Insurance coverage for motorcycles and scooters will expire at 11:59 p.m. on January 31, 2022.
Does bike insurance automatically renew?
Auto-renewal of insurance is a pain. It’s designed to make sure you don’t end up riding around without insurance.
That is the goal. However, too many bike insurance employ automatic policy renewal to inflate your prices without your knowledge.
My prior insurer gave it to me to try on. I was fortunate in that I followed the suggestions below and was able to save nearly £250. And there was a lot more that could have happened.
It’s no huge secret (unless possibly among unsuspecting bikers), as the Financial Conduct Authority (FCA) recognized following a lengthy inquiry into car renewal and other practices when it urged for increased transparency and engagement with consumers by insurance providers.
Consider that for a moment. When was the last time your insurance premium went down without you having to do anything?
Insurance companies use auto-renewal to recoup part of the profit margin they may have lost by offering you a great bargain the first time around. You don’t owe them anything, so save your money this time by following these simple guidelines (maybe buy yourself a new lid or some heated hand grips to reward your good work).
1) ALWAYS compare the premium in your renewal letter to the previous year’s premium.
Expect the insurer to assist you and include the amount from the previous year’s renewal letter on your renewal letter. In December 2015, the FCA proposed that insurers be forced to reveal the prior year’s premium on your renewal letter, following its inquiry into the general insurance business (which includes auto, house contents, and motorbike insurance). It will take about a year for insurers to adopt this.
So get your old insurance records out of the attic. Check your bank statements if you can’t find them.
It’s simpler for a premium increase to go overlooked if you pay monthly. However, an extra £15 per month equates to £180…
2) Get new quotes before calling your insurance company.
If your insurer has raised your premium by a few hundred pounds, you’ll want to fire them. Fine, but only after you’ve stocked up on ammunition.
To get a new price, use our bike insurance comparison tool. Even if you don’t choose one of the quotes, you can utilize the information to see if your current insurance will lower your price.
A few years back, the BBC’s Watchdog show looked into auto-renewal in the vehicle insurance industry. They discovered policyholders whose renewal costs had skyrocketed by hundreds of pounds! When challenged with alternative quotations, the insurance company frequently offered to cut the premium.
Keep in mind that saving money on motorbike insurance takes time. When compared to an hourly income, however, that time is well worth the effort.
3) Do you have more than one bike? It’s possible that multi-bike insurance isn’t the best option.
The assumption behind multi-bike insurance is that it is less expensive than numerous plans, and this is often true.
Except just one person: me. When I opened my multi-bike renewal notice and saw that it had doubled, I nearly spewed my cornflakes on the kids.
Last time around, I leveraged my understanding of the NCB requirements to save about £250 on my own premiums. NCB cannot be used on more than one bicycle. However, you can cover many bikes by first utilizing the NCB on your highest category bike (in my instance, an R1) and then establishing a new policy on the other bikes without the NCB (an SV650S for me).
Before I made any expensive adjustments to my auto renewal policy, it was already £1284 in cost. After 10 minutes on the comparison sites and an hour on the phone, the R1 was reduced to just over £600, including the mods. Some insurers quoted thousands because of the nature of some of the mods. The mini-twin was given its own insurance policy… for £80. Compare the amount of money I saved in one hour to your hourly rate…
4) When it comes to breakdown coverage, the same criteria apply.
Yup. Companies who provide breakdown coverage do the same thing. It’s hard to blame them, given that they’re also insurance. And they’re not the nice roadside patrols we’ve always imagined them to be.
So when the RAC renewal notice arrived, I went online, obtained three fresh quotations, and provided the evidence to them. I also saved roughly £45. This product is effective.
5) Don’t forget to cancel!
At least one month before your existing bike coverage expires, you should receive a renewal reminder message. It’s far too easy to stow it away and forget about it. If, on the other hand, you followed the advice above and discovered a better bargain elsewhere, be sure to inform your current insurance provider.
I’m writing this on the same day that an insurance company has stiffed me for £38.40 since they automatically renewed my policy even though I’d already insured with someone else. I told an insurer representative that I didn’t want to re-insure, but evidently sales reps don’t always communicate with customer support…. I’ll get the money back in the end, but I’ve had to jump through some hoops to acquire it.
The most obvious thing to do is to act as soon as you receive the renewal letter, so it does not go unnoticed, and to handle renewal as if it were the first time you attempted to insure your bike(s).
It’s just money, and you’d rather have it in your bank account than in the insurance company’s.
Is MCE Insurance black box?
Is MCE insurance capable of providing black box or telematics coverage? MCE Insurance does not provide car insurance based on telematics. These policies typically allow young drivers to be graded on parameters like speed, braking, acceleration, cornering, and usage every week.
Who underwrites MCN insurance?
Check the fine print on your insurance policy; you could be one of the 2000 UK riders affected by Independent Insurance Company Limited’s financial difficulties.
Carole Nash is one of the firms that has had motorbike policies underwritten by Independent Insurance Company Limited. You may find out who underwrites your certificate by looking at it. The phrasing will most likely be something along the lines of “For and on behalf of “… followed by the name of your underwriter.
Don’t be alarmed if you find out your underwriter is Independent Insurance Company Limited. You’re still protected. You cannot, however, cancel the policy (well, you may, but you will not be reimbursed). Furthermore, any fully compensated claim will only cover 90% of the cost of repairs or replacement.
PricewaterhouseCoopers’ Lorna Siddall verified that “all persons holding a policy will be 100% covered.”
“It’s business as usual for the most part; policyholders won’t notice any difference,” marketing manager Warren Dickson said.
Are MCE Insurance still trading?
MCE Insurance Company, one of the largest motorcycle insurers in the United Kingdom, has gone into administration. The company has verified that all vehicle and van insurance will be terminated at midnight on January 14, 2022, and all motorcycle and scooter plans will be terminated at midnight on January 31, 2022.
Who owns MCE Insurance?
The company, which is run by CEO Julian Edwards and consists of MCE Insurance, the original brokerage arm, and MCE Insurance Company, the Gibraltar-based underwriting arm, has expanded its product line to include vehicle, van, and roadside assistance since 2012.
What is the best motorbike insurance?
Other motorcycle insurance companies, such as Harley Davidson, BMW, and Suzuki, have received positive reviews from financial services review organizations, but we have excluded them because they are specialized services for specific motorcycles.
This strategy takes into account both the product’s quality and the customer’s experience.
This means that the finest providers on the list should offer adequate coverage and have a good reputation for customer service.
You can learn more about the finest moped insurance and how much moped insurance costs if you ride a moped.
Where is MCE Insurance based?
MCE is a privately held motorcycle insurance broker situated in Northamptonshire with a state-of-the-art call center.
MCE was founded in 1975 and has since evolved to become the UK’s largest provider of motorcycle insurance, employing over 300 people who provide technical expertise and a great customer experience to riders all over the country.
MCE not only has the greatest insurance deals on the market, but they also have the best team of people in the industry, and they give scholarships and professional development chances to everyone.
‘Talent Ed,’ an internal management succession program, is provided to MCE employees who are succeeding in their current position. The program has been a huge success, with some participants going on to become managers.
MCE is a varied organization that works together in a collaborative environment and hosts a lot of social activities.
How is no claims discount affected?
Your no claims discount is typically reduced by two or three years if you make one claim on your insurance and your insurance provider pays out. It may be reduced even more if you file two or more claims.
So, if you have eight years of NCD and file a claim, you will theoretically only have five or six years of NCD left. This isn’t always the case, though. If your insurance company uses the industry standard of five years as the maximum NCD, you’ll only have three years of NCD left. You’ll lose everything if you file a second claim. Most insurance companies will describe how no claims discounts work in their policy booklets, so you can double-check before you buy.
The policy documentation will also explain which claims will affect your no claims discount and which will not. If the collision was not your fault, for example, your insurance company will seek reimbursement from the at-fault motorist. Your NCD should be unaffected in this scenario.
If no one was to blame for the accident, insurance companies may share the claim costs, affecting both drivers’ NCD.
Your insurance company will not be able to recoup its expenses if your car is stolen, vandalized, or damaged and the perpetrator is not caught. That implies your NCD will almost certainly be impacted, even if the damage was unrelated to you.