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Insurance Cost effective bike Insurance

Discussion in 'Licence - Rego - Insurance - Law - Rider Training' started by jmw76, Sep 15, 2020.

  1. jmw76

    jmw76 Well-Known Member Premium Member

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    Hi All,

    Anyone got any brilliant tips on cost effective bike insurance?
    I have a few bikes now and I would ideally like to combine their road going insurance onto a single policy.

    I just want to cover third part property as I figure I should be able to cover the cost of repairs to my own bikes in the event of an incident.

    With multiple bikes, you ca not ride them all at once, so it would seem logical that you should be able to combine them all onto a single policy. Some are also going to be club reg, so very limited use anyway.

    Any ideas/past experience?

    Peter.
     
  2. Murdo

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

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    1938 Royal Enfield 250, CF 250 V5 and 650TK, XL250, CBR250, plus a few others.
    I have been with Shannons for about 10yrs now (after having a p*ss poor result with NRMA classic) and have only claimed once (burnt ST1100) but they were helpful and paid up promptly with no arguments. The comprehensive cost on my historic registered bikes is $49.50 per year/per bike, with my full rego 650cc road bike at $251.10 p/y. These prices are with a multi policy (of 8 bikes and a car) so may be different if only insuring one or two bikes. As usual, get on the phone and ring around to get the best deal for you.
    PS Shannon's house insurance is ridiculous.
     
  3. risky

    risky risky

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    i use shannons and are cheap and honor policy. multiple bikes on one policy.
     
  4. jmw76

    jmw76 Well-Known Member Premium Member

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    Hi Murdo, that looks like a good deal with Shannons. I have had previous policies with them and moved away after not being looked after. I will have to look into this again. What sort of use restrictions do you have on your bikes?

    Peter.
     
  5. 2valve

    2valve Well-Known Member

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    Agree what other's have commented with Shannon's insurance. Been with the them for over twenty year's ( well , that's what it feel's like ), so they look after me really well. Also have multi policy's with them , car's / bike / house content's.
     
  6. Murdo

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

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    Just the normal ones for historic bikes. The full rego ones are for limited use (ie not every day ridden) of once a week.
     
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  7. crzie

    crzie Member Premium Member

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    Just the thread I was looking for, is it worth getting fire and theft? Are the cbr/fzr/zx2r’s theft magnets? Been thinking of getting just third party but don’t want to have one of those oh **** moments
     
  8. 2valve

    2valve Well-Known Member

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    My 2 Cent's worth.
    Personally these day's anything will get knocked off , especially when O.E part's are getting hard to locate in good clean / un-damaged condition. There are some beautiful 250cc bikes listed here on the forum and they cost a lot of time / effort / money to make them look that good.
    When my SRX 250 was nearly finished to be put back on the road. I rang Shannon's to get a third party quote and a comprehensive quote. The comprehensive quote wasn't much more over the third party price. I've been with Shannon's for a very long time and they know me very well that i look after my gear / well stored / protected. I wont say any more than that , well other than , how fast can you run :minigun:. I do have all of the vehicles / house insured through them.
     
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  9. Murdo

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

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    Fire and Theft are usually only a few dollars short of full comprehensive, but as always, get on the phone and get some quotes from the different companies.
     
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  10. jmw76

    jmw76 Well-Known Member Premium Member

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    I suppose it depends on how much you value your asset and risk you want to run.
    I run a mixture of policies for my vehicles. Those that I value highly, I have full comp on. Those that I think can be easily replaced or I am prepared to sacrifice in a crunch I just run extended third party. Then there are those in the middle where I add fire and theft. If I can cut a really good deal at some point I would consider putting them all on some sort of limited use full comp.
     
  11. crzie

    crzie Member Premium Member

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    Thanks for the replies guys, I'm not sure if this is cheap but i got full comp from QBE for under $400 a year. I forgot about this thread and probably should have given Shannons a call, if everyone doesn't mind disclosing what they paid, I'm a bit curious. I know that the different policies, age, location etc all play a part, just want to see what everyone else is paying.
     
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  12. risky

    risky risky

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    2 historic and one road bike costs me 485 on the one policy with shannons
     
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