Rise of the wrinkly easy rider
The insurance industry is not immune to the male mid-life crisis, it seems. Men, keen to show they still have youthful vigour – and with the hard cash to prove it – are buying fast bikes in increasing numbers.
And insurers are picking up the tab when the aspiring speed kings discover that 0 to 60mph in under three seconds is actually rather fast.
According to the ABI, insurers paid out £22m in motorcycle claims last year, compared with £19m in 2006.
Norwich Union underwriting strategy manager Nigel Bartram tells the Daily Telegraph: “We are seeing a big increase in those buying sports bikes for a hobby. They hit their 50s, have a bit of spare cash, had a bike when they were younger, think about buying a sports car and decide to get a fast bike instead,”
More than 3 million individuals hold a licence to ride a motorcycle in the UK, but only 1.2 million are estimated to be regular riders.