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Help Bike Insurance

Discussion in 'Licence - Rego - Insurance - Law - Rider Training' started by Benimino, Jul 7, 2012.

  1. Benimino

    Benimino Member

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    hey can anyone recommend a company for bike insurance. Or is it like car insurance it will all depend on a million questions or is there one great company people use? And what type of cover?
     
  2. Artemis

    Artemis Well-Known Member Premium Member

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    Ben,
    Comprehensive or thrid party?
    Under 25?
    Learner or full license?
    First insurence ever or not so much?
     
  3. Benimino

    Benimino Member

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    over 25 first bike insurance about to go for Ls. full comp would be better
     
  4. Phil

    Phil Senior Member Premium Member Contributing Member

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    Hey Benimino

    Check the Forum as much has been stated about insurance. Take the time and you can save money by shopping around on line. Younger people are sadly discriminated against in this sphere, it is so wrong!
    Even worth speaking to a broker as you are trying to keep the bucks in your pocket, as you should.
    Good luck with it.
                                                                                    Phil
     
  5. Benimino

    Benimino Member

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    yeah it sucks being 26 and male sometimes. i pride myself in being a family guy and a respectable person and there are people my age that ruin things like car and bike insurance for the rest of us.
    I will shop around thanks :)
     
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  6. kiffsta

    kiffsta Administrator Staff Member Dirty Wheel Club Contributing Member

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    at least your over 25, that certainly helps. Im with Suncorp and they are well priced as long as you have some riding experience.

    Chris
     
  7. risky

    risky risky

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    my car,house and contents are with gio BUT my bike has comprehensive with qbe.why...COST.
     
  8. Obanion

    Obanion Member

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    State Farm was good for myself. New rider, 26 with only my M1 in Canada. About 1000/yr for full coverage.

    I think there was a big discount for combining it with car insurance, but unfortunately I don't drive one :/
     
  9. socceroofan

    socceroofan Active Member

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    Guys I work for an insurance company, I definately recommend shopping around though, there are some big price differences around and depends a lot on the bike too I have found. The company I work for takes into account driving or riding history, not just riding history.
     
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  10. Linkin

    Linkin The Apprentice Premium Member Dirty Wheel Club Contributing Member

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    Whatever you do, read the damn PDS so you know exactly what you're covered for. I know from friends that QBE "comprehensive" is NOT comprehensive! Read the PDS!
     
  11. socceroofan

    socceroofan Active Member

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    For sure, most people will just throw the PDS away, but it's there for a reason, even just look up things you 'expect' to be covered to make sure it actually is!
     
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  12. Moo

    Moo Plodge Racing!!!

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    if you go by cost be 100% happy with your coverage before you agree and know what you are able and not able to claim for. I've see so many people go for the cheaper option (as well as under insure) just to save money but when it comes to claiming they are not covered for what they expected to be covered for.

    I've spent the last 5 years in the industry and as the saying goes....you get what you pay for.

    my top 3 tips:

    1) Shop around and read the PDS - know what you want from your policy (market value sum insured or agreed value - coverage for riding gear ect) and use that to guide you in price of the product.

    2) Check you renewal and sum insured each year - can you replace your bike for what your payout will be? (take into consideration, your excess payment if you have an agreed value policy.

    3) if you have finance.........make sure you have gap cover if you have financed the whole amount!
     
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  13. U_B_WARE

    U_B_WARE Well-Known Member

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    so i am looking at insurance, seems suncorp is the cheapest for me and still covering what i need. i am only getting 3rd party fire and theft for the moment due to funds (lack of them).
     
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  14. Moo

    Moo Plodge Racing!!!

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    always best to have some coverage than non at all. :)
     
  15. U_B_WARE

    U_B_WARE Well-Known Member

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    that was my thinking at well, at least with the fire and theft i am covered there and covered for anything i do to others.
     
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  16. Grasshopper

    Grasshopper Well-Known Member Premium Member Dirty Wheel Club

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    Yeah, I'm doing the same for my FZR... and also you can pay monthly :)
     
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  17. Murdo

    Murdo The Good Doctor Staff Member Premium Member Ride and Events Crew Contributing Member

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    Have been with Shannon's for a few years now (comp and green slip), and yesterday I needed a green slip to register my Honda Dominator 650. I did the ring around and found QBE to be $30 cheaper than Shannon's, tick, and the comprehensive I got with Youi for $40 less, tick again. The only differences was Youi gear cover is double Shannon's, but they don't pay for a hire car if bike damaged more than 100Km from home and they are market value.
    I got caught when my Honda ST1100 burnt with agreed value policy (Shannon's). The price for second hand 1100s in good condition has gone up quite a bit from when I bought mine and the payout will only buy 2/3rds of another one.
    Now to give the RMS the rest of my money for the privelige of riding on their 'series of interconnecting potholes' they call roads.
     
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  18. Grasshopper

    Grasshopper Well-Known Member Premium Member Dirty Wheel Club

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    Yeah, it's definitely worth shopping around...
     
  19. Phil

    Phil Senior Member Premium Member Contributing Member

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    Checking your car / bike / home / content insurance is certainly worth doing at renewal time. My wife's car insurance was due and the premium had escalated dramatically. so like Murdo I did the ring around and YOUI won the day by a country mile, nearly $400 cheaper............she now is insured with Youi. However when I later enquired about my home and contents............Youi would not give a quote due to the fact we are in a flood zone ????? we live on a canal???? Can't win them all !!
     
  20. Moo

    Moo Plodge Racing!!!

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    Whats your excess with youi Phil? with regards to your home, youi will pick and chose who they insure, its called risk price address. so they have mapped your property in a flood zone and as such, instead of charging a higher premium they just decided not to insure your risk.

    I decided to do a little ring around to get quotes and a comparison of policy coverage. Now for those that don't know, I've spent Near 6 years in the insurance industry so lets say i know my way around and i also get a healthy 50% discount from my current provider as its part of the working privileges. it was very disappointing to see that youi had a standard excess of $750 and the lowest you can drop it to is $450. I've always had a nill excess policy (pay a little extra for it) but youi wont do it, nor will they give you open drive on your policy so anyone that drives your car over the age of 25 pays an extra $450 excess if the crash!!!! pay extra for windscreen cover and the same as all insurers pay extra for hire car after accident....which is fine. So i rang AAMI, they gave me a $450 excess of the bat, windscreen cover, open drive ect, so a far better policy than what youi offered off the bat for $30 more. QBE and SGIO another $60 on top of that. needless to say all the quotes still nothing near my premium haha :p

    have a look at the member based organisations, RACV RACQ ect

    But as i said earlier, make sure you know what your getting and your getting what you need, read the PDS, make sure your correctly insured, home, motor and contents - cost to replace all items and i mean all items (delf, wall coverings, carpets, salt pepper, loo roll you name it) also compare your excess, what are you willing to pay at a claim......higher it if you want to pay a lesser premium. whats the standard excess your offered? make sure you get what you need not just what they offer.
     
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