Motorcycle insurance premiums

I have been riding motorcycles for the last 25 years. I have been insured with my present insurance company for at least the last 12 years and I have never made an insurance claim in all the years I have been riding.

Last year's premium for third party cover on my 1200cc motorcycle was Lm40 including tax and on my other 600cc motorcycle the premium was Lm32.50 including tax. I have now been informed by my insurance company, through their broker, that my next premium for third party cover on my 1200cc will increase to Lm181.50 including tax and the premium on my 600cc will increase to Lm132 including tax. I am sure I am not the only one who thinks that this is daylight robbery.

According to my insurance company this increase is due to the additional cover for passenger liability and the fact that I can now ride my bike anywhere in Europe, as Malta will be joining the EU as of May. I accept that there will obviously have to be an increase in premiums because of the additional cover but this amount is totally unrealistic because it is being calculated unfairly.

Firstly, why are insurance companies not offering a no-claims bonus on motorcycle policies as in the rest of Europe? A no-claims bonus scheme will benefit both the insurance companies and the motorcycle owners. A no-claims bonus scheme of up to 65 per cent is offered in Malta to car owners; why not to motorcycle owners?

The additional expense to cover a motorcycle owner to ride his bike anywhere in Europe should not be reflected in the yearly premium as the vast majority of owners do not leave the Maltese islands when riding their motorcycle. This should be charged only to those bikers who want to go to Europe with their motorcycle, in the form of an additional fee.

Single-seater motorcycles and riders who do not carry a passenger should not have to pay for passenger liability. This could be done in the form of a signed declaration, as is normal practice in the UK, I am informed.

Owners of more than one motorcycle should only pay full premium on one motorcycle if these are insured third party cover, allowing only the owner to ride the motorcycles.

There are no additional risks to the insurance company because the owner would only be able to ride one bike at a time!

The way in which motorcycles are being classified by my insurance company is inappropriate, that is up to 150cc, from 151cc to 1000cc and over 1001cc. We are about to join Europe, why are we not classifying motorcycles on the same basis used by leading insurance companies in Europe?