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Discussion in 'Politics, Laws, Government & Insurance' at netrider.net.au started by Honda24, Oct 29, 2010.
I just got an online quote for bike insurance with AAMI...it's over $1000!!! Is this normal??
are you under 25 and breathing. that was my experience anyway. my first bike the insurance quote was twice the value of the bike per year.
motorcycle insurance is expensive anyway, and doubly so when you are young/inexperienced, even if you are only on a 250
you have to wait till you're too old to care (like me) to get full cover on a 600 for $218 per year
Never mind. Thats just comprehensive. Third Party is such a significant discount. Bizarre!
Yeah im under 25 and breathing
What is your no claim bonus? Driving experience? What bike did you buy?
My second hand 250 when I was on L's and P's was only around $400 per year comprehensive. You may want to shop around.
Have you seen the top gear episode where they pretend to be 17, just licenced, and trying to get insurance? I thought our insurance companies were outrageous till I saw that. Makes $1k full comp look like a steal.
insurance would cost me about 3.5k for a brand new bike
Get 3rd party property for about $100 but know that if you f*** up its going to cost you a pretty penny so ride carefully.
Do they offer a free reach-around while theyre back there?
As the others said; age? driving experience? type of bike?
Nekkid bikes like the VTR250 typically pay much much less for insurance than fully-faired bikes, partially due to demographic (enthusiastic inexperienced riders wanting a fully-faired sportsbike which looks just like Rossi's, leaving only 'sensible' inexperienced riders on the naked bikes) and partially because they tend to be cheaper to fix in a minor accident.
Do ring around, too. We can't tell you who is the cheapest insurer for you - QBE seems to like me and AAMI gives me quotes in the multi-million-dollar range, while other riders get ludicrous quotes from QBE and cheap insurance from AAMI - but we can helpfully recommend that you ring *everyone* for a quote.
Insurance cost is the main reason I recommend a cheap bike for L's and P's, you can get away with 3rd party only insurance if it's cheap.
I pay $140 per annum for third party, and ride a bike that at best is prolly worth $3,000. That's how you minimise exposure.
Yep motorbike ownership is "cheap" isnt it? lol
+ reg + tires + gear + any purchase with a pic of a bike on it (oil etc) lol
I went with QBE for my 2009 CB400 and compro was $718 for a learner 24 year old. Hopefully I can be accident free and as I turn 25 things will lessen a little bit.
Hardly any surprise that insurance for young males is getting more and more expensive given the latest neurological research is that Male brain development extends well into the mid 20s - especially the prefrontal cortex which is responsible for differentiating thoughts and risk assessment (and sits right next to the motor cortex) - http://en.wikipedia.org/wiki/Prefrontal_cortex
What this is to say, is that people under the age of 25 have a different brain development, in particular relation to risk assessment and differentiating the way they interpret data in leading to their next set of actions. i.e. Their full differential risk assessment isn't developed yet. As a 24 year old, I am consciously aware of this and make many different decisions on roads now as to what I did even 3 years ago, independent of experience and my core intellectual capacity (i.e. mathematically I am no more capable now than I was then - the calculus side of things hasn't changed).
I think at some point, there needs to be further training around how our brain works and get young males more conscious of the signals their brains might be sending them that might just be worth countering. Because unconsciously where as someone older will weigh up "do i overtake this truck" with all the risks of potentially getting killed etc, for a young male, the anticipation of an adrenalin rush may drown out the forward thinking of potential negative risk (I have personally had this happen without realising it).
Driving/riding is very much related to some core functions of the brain - lets educate people about the roles their brain plays on the roads, and when it may be a hindrance to them. In part, some rider training implicitly does this already, teaching about how to avoid survival reactions.
There is some food for thought
2003 BMW 1150RT Rider over 25 (well over!), full licence for 40+ years (never a demerit), top of the range no claim bonus, bike locked in garage under main roof at night:
InsureMyRide = $388 comprehensive
AAMI = $1100
RACWA = $2478 comprehensive
Gee ... let me think about that.
I got a quote for my Hornet , valued at ~$4500-5000...
$2850 with an excess off $1100... 18 yr old male with 0 prior accidents or suspensions.
Had an off and repaired all the damage for $503.
Mmmm, but what about 3rd party toadcat?
Sucks to nail a parked car or something and have to pay for the damage.
As things stand at the moment, MrsB and I pay <$250 for fully comp on each of our bikes. We pay >$500 for each of our four wheelers, in spite of the former being near new and still worth something and the latter being long in the tooth and of limited market value.
So yes, bikes are cheaper, for us at least.
My KLR650, 65% no clams, age 38 and with no riding experience.....$400