Got a nasty surprise in the mail today. The invoice for the next twelve months' bike insurance (through Markel) and the premium has risen a cool 20.42%. That was a decided "ouch." The big numbers are for "Comprehensive - Actual Cash Value" and "Collision - Actual Cash Value." Unless my bike (2008 R1200RT) has become an appreciating asset overnight (?), it looks as though the lower risk (reducing capital cost) is attracting higher premiums. Nice for the underwriters, but not for my bank balance.
Am I missing some part of this picture that makes this (to me, dramatic) increase more justifiable, or are Markel wanting out of the bike insurance market?? Needless to say, I'd welcome suggestions of alternative firms to try. I primarily went with Markel because of the association with the MOA.