Insurance

So the cost of my motorcycle insurance went up this year!  I've been enjoying a steady decrease in the premium since I first jumped on two wheels over six years ago.  When on the phone to the insurance people I was informed I'd be paying about an extra £50 on the premium.

I know it's not a lot but I was slightly shocked at the circumstance, I had done extensive research on price comparison websites and the offer they were giving me over the phone was still the best deal I could find by some margin so I was stuck accepting it, when I inquired as to why the premium had increased I was told 'it's just the way the economy is.'

I've never claimed anything or had a run in with the law or any of those nasty events that can have an impact on the price, so I've been left feeling a little glum and ignorant about how the position of the British economy influences the amount I pay so directly.  Is this a common thing for most people?  Does anyone have a similar story or some understanding of why prices are going up?

That £50 could have been really useful for me in the recent economic situation I find myself in!

Edit:  For anyone interested or reading this far I have learned of a couple of issues that may shed some light on the subject;

1) The existence (and subsequent removal of) a 'good student bonus' sometimes exists on a policy, which you lose the benefit of when becoming older (I had turned 24 at the time of the insurance renewal, but not sure when such a thing runs out.)

2) The simple fact that the insurance company paid out more than they were expecting last year to people in my age group, which would raise the premiums across the board, however I wouldn't view this one to do with "how the economy is.''  Maybe the phone representative just didn't feel like explaining himself further I don't know.

I couldn't think of any humorous comic about insurance type things.. I'm sorry!