Groupama's Jack Brownhill on the increasing popularity of the motorcycle market
The exhilarating sound of a well-tuned motorbike is a sure sign that summer has well and truly arrived. For motorcycle insurers, however, this is definitely ‘fingers crossed' time, as this is the time when an insurer' exposure is at its peak.
Not only are more bikes on the road at this time of the year but the roads around our tourist areas are full of visitors, both from other parts of the UK and from abroad.
Of course, not all motorcyclists use their bikes for travelling around the country. More and more are using them for commuting or for purely local trips.
The introduction of congestion charging and the deteriorating parking situation in many of our towns and cities has convinced many people that two wheels are better than four.
The motorcycle market is unusual as it consists of two extremes; mopeds, scooters and bikes up to 125cc at one end, and the 600cc and larger bikes at the opposite end, with very little in the middle.
At the lower end the scooter is enjoying a renaissance as a fashion accessory for the trendy. Unfortunately for the insurer this appears to have made them attractive, and relatively easy, targets for thieves.
At the upper end we continue to see the traditional mixture of experienced bikers and the born again fraternity.
The big bikes of today are light years away from those available a few years ago. A few thousand pounds will buy you a bike capable of around 200 mph with the ability to accelerate to 60 mph (and beyond) from a standing start in the time it takes most people to draw a single breath. Hardly a bike for the rusty weekender!
Biking is also becoming more and more popular with female riders, and they are in the ascendancy in the commuter belts where more and more scooters and mopeds are in evidence.
Motorcycling in all its forms is clearly becoming more popular. Sadly this rise in popularity has brought with it a disturbing trend in the fatality rate.
According to the Department of Transport last year saw a rise in the number of road deaths to 3,508. Against the trend of the last few years this was an increase of 77 over the previous year.
As a percentage, however, the number of motorcycle deaths rose even higher with the total number killed in 2003 increasing to 693.
Although female riders only make up around 20% of the motor cycling community it is a sad and disturbing fact that females account for more than 80% of the motor cycling fatalities.
Without doubt there is some cross matching of the previous statistic with the fact that under 21 year old moped riders make up the largest single age group for motorcycle deaths.
Statistics from the American Insurance Institute for Highway Safety for 2002 show that 45% of all motorcycle deaths occurred at the weekend and 64% of deaths occurred between May and September. It would be surprising if the pattern for the UK did not mirror the experience across the other side of the pond.
As a motorcycle underwriter I would like to take this opportunity to ask all our friends in the biking community to take extra care during the summer months. Equally can I ask all those who prefer a wheel at each corner to take even more care!
