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VIC Attempted theft claim

Discussion in 'Politics, Laws, Government & Insurance' started by Franconian, Apr 17, 2016.

  1. A few days ago somebody tried to steal my Husqvarna TR650. It was securely locked in a storage cage inside my carpark. When I walked through the carpark I saw my bike standing outside with heavy damage. The thief(s) caused heavy damage to the ignition lock, electric system, expensive aftermarket windscreen broken off etc.

    Luckily at least I have comprehensive insurance with QBE. I have already reported to the police and insurance. But nothing really happened since. What is the best procedure to handle this? Apparently QBE will organise for a tow to a workshop, but could not give a time frame.

    I would imagine getting all the spare parts from Husqvarna will take a very long time...
  2. Don't wait too long though. When my bike was backed into, their insurance forgot about it and wasn't till I chased it a month later that anything happened.
  3. Franconian: Good luck with that. I had a similar experience 13 years ago and had a bad experience with the insurance co. Due to that bad experience, I have never had full comprehensive again and never will. I hope the insurance co does the right thing for you. Let us know how it goes.
  4. Hi Guys,

    I received a phone call from the assessor last week. It will be irreparable damage due to parts availability and written off. I only bought the bike a year ago and sadly did only 2,000km on it. I loved it and it is sad to see it go, the best bike I ever owned.

    It had accessories for over $2,000 on it (bash guard, barkbusters, Dakar windshield, aluminium rack, panniers etc. I insured it to market value and it looks like only standard accessories are included in my insurance.
    I have already called the insurance company, but they are very vague with information...

    What is generally understood under standard accessories?


  5. According to QBE PDS "Your bike" includes any options and standard accessories, and any non-standard accessories listed in the schedule.

    Options and standard accessories could therefore be assumed to anything you have added to your bike from the range offered within the manufacturers brochure applicable for your bike. The rest ( after market) are non-standard and need to have been advised by you the QBE ( as per PDS) and listed on your policy.

    For example if your particular make/model of aluminium rack and panniers were listed in the manufactures brochure then it is a standard accessory - otherwise it is non standard.
  6. Also remember that the first offer by insurance is just an offer.... Based on my experience with QBE, their first offer tends to be rather pessimistic hoping you will take it.
  7. Thanks guys! Will wait for their offer first and prepare a list with the accessories.
  8. Would he have the right to re claim the accessories that he has fitted that are not covered by the insurance?
  9. i can't believe your still having to wait for this to be sorted.
    is bike insurance much slower than car insurance to get sorted for some reason ?

    iv'e had 3 claims with the car in 3-4 years where other people have damaged my car, IE : smashed into me.
    last accident was, some thief running away from steeling ran into my car and damaged a side panel and smashed a side window with his face "karma" this idiot was running.
    generally all quotes were done within a cpl of days and car repaired within 2 weeks and a cpl were decent repairs that had to be done.

    mate, id'e be looking at changing your insurance after they get it sorted.
    pays to look around, when i was looking at getting quotes for the bike, the quotes were all over the place. i got quotes from $2200 a year to just over $500 a year "full comp"
    some of these insurance people try to take you for a ride. the youi adds on TV make me laugh, they were one of the most expensive and have so many stipulations of what you can and can't do and what you can claim and what you can't !
  10. Love that one Youi We get you! ;):p
    When I see that add on TV I'm wondering if there is some hidden message behind that slogan but hey its just me.
  11. "We get you!"

    Yeah, right in the hip pocket.
  12. I hope so...
  13. unlikely - when the accessories were added QBE should have been notified and if the insured requested they be included on the policy there may have been a premium adjustment to allow for the extra cover. as the insurer was not notified these extra items are not covered under the policy and 'new for old' or 'market/agreed value' will be the result depending on what the policy allows and what the insured chooses for settlement if given the option.

    ultimately though it depends on the policy and recommend you read the Product Disclosure Statement to find out what you're entitled to as the guys on the phone might not be forthcoming in advising you of your full entitlements.

    FranconianFranconian - sorry to hear about your bike, I hate those thieving bastards - that is why I will never buy stolen goods or those 'fell off the back of a truck' items you hear about from time to time.
    • Like Like x 1
  14. That is so true............ if it was not for those who buy those stolen bikes or parts of them, there would not be so many of these low-lifes!
    • Agree Agree x 1
  15. Still no news from the insurance, they are hesitant in giving any information about the assessed value / settlement value.

    One problem I noticed is that the motorcycle dealer who organised the registration at Vicroads entered the incorrect year (2012) instead of (2013). The Vicroads paperwork is showing 2012 model, however it actually is 2013 (which I suppose would be more market value).

    When taking out the insurance I entered 2013 (the correct year), however the policy shows 2012 (based on registration?)

    I never noticed this before.

    Will this cause any issues? What should I do to rectify?
  16. "Joe has been with his last insurer for over 10 years........................" That line made me laugh out loud.

    Oh yes, they want him, they'll save him some money the first year to get his business and then ramp it up for the next ten until he finally works out they're ripping him off.
    They really don't want the guy that shops around every year, not much margin in him.
  17. i would ring your insurance company and just clarify it with them, you don't want to give them any excuses to pay you less than your entitled to.
    also make sure you have proof of what you entered, so you can let them know or show paperwork if needed.
    i would also be pushing them to get this sorted out asap as it seems to be dragging on for quite a while too.
  18. I was offered only $6,300 (minus excess). The motorcycle was bought in 2014 (RRP $9,695.00).
    Prior to the incident it was in immaculate condition, had only done 5,000 km, serviced regularly and just run out of manufacturers warranty. The fitted non-standard accessories were worth more than $2,000. Apparently all accessories were included in the valuation and I cannot have anything returned.

    I was told that the valuation was done by a professional motorcycle assessor, but how is it possible that the price decreased by almost 50% / $6,000 in only 2 years?

    I did not declare the non-standard accessories and understand that they are not insured, so I asked for them to be returned. This was denied as it is apparently included in the assessment.

    The market value according Glass's guide is $8,300 (not including any accessories). QBE told me according their information the Glass's guide says $5,400.00 - $6,100.00

    What can I do now?

    I do not recommend QBE insurance, keep clear...
  19. you can request a review, show them evidence, redbook bikes sales of same model bikes as yours with and the price
  20. In my humble opinion the market value argument is gonna be your word against the one of your insurance.
    If you want peace of mind for your next toy insure it at agreed value instead of market value. The additional cost for that is minimal and the headaches in case of a claim too.