Welcome to Netrider ... Connecting Riders!

Interested in talking motorbikes with a terrific community of riders?
Signup (it's quick and free) to join the discussions and access the full suite of tools and information that Netrider has to offer.

Best LAMS insurer?

Discussion in 'New Riders and Riding Tips' started by Primax, Mar 21, 2010.

  1. Hi guys,

    At the point of purchasing my first bike now. I am deciding between a Ducati 400ss junior or a Honda RVF400, and will be getting comprehensive insurance for it.

    What are your experiences with insurers? My wishlist is good service, doesn't might a couple of aftermarket parts like exhausts etc, and competitive on premiums...
  2. I went with InsureMyRide as their premiums were the cheapest for me. Watch the excess on the policy though.

    They have a $1500 inexperienced rider excess which applies until you have had your licence for 12mths. I've got about 6 weeks left to go so if I get through that without incident then I'm ahead and they are/were the cheapest insurance for me.
  3. Best insurance I have found was AAMI, though they only offer it if you have a car insured with them, no-one else was even close. Was paying about $500/year (GS500F 2007) for comprehensive for $7000, on my learners (age 28).
  4. Make sure to give Swann a call for a quote.

    I went with Insure My Ride at first as they were the cheapest quote I could get, but could only afford 3rd party, fire & theft. Cost about $600 on my '06 GS500F.

    I then read about Swann on here (had never heard of them before) and the good prices some others had got. Got comprehensive through them for $330 for $6k insured (was 25 at the time). Got rid of Insure my ride and went with Swann straight away.

    Excees is pretty good as well. Only $700 for L & P plates, and I have used that once already. The accident I had was on the verge of $6k damage, but my renewal only went up $15 (although the insured amount is now only $5600).
    Some of the quotes I got were crazy compared to Swann.

    The service isn't as great as other insurers, but they were great with my accident and every thing went very smoothly. You can add aftermarket parts with them from memory but have no idea what that would add to the premium.

    Also look into gear insurance and what it costs or what is included when you get quotes. When your gear costs about 1/4 of the bike (as mine did), it is worth thinking about.
  5. Shop around, and make sure you compare apples with apples.

    In other words, check what they are actually covering you for. For example, Western QBE (and I think Swann) will often insure you even with a dodgy driving/riding record. Whereas InsureMyRide won't even consider you. Western QBE and Swan don't really care how often you ride. The others charge an arm and a leg if you ride every day, but can be cheaper if you're a weekend rider. Some offer good cover for your gear and anything you are carrying, others don't, unless you pay more.

    Age will always be a factor, the younger you are the more expensive it will be, as does where you live. For example my 20 year old son living in Watsonia pays something like $1800 for his 2008 FZ6N, whereas I (44) living in Wagga would pay no more than $400 for the same bike.

    But as I said, shop around.

    Some insurance companies that do insure bikes are:

    Western QBE (Me and my wife have our bikes with them)
    SWAN (I had my bike insured with them, but after it took over a month to settle a fairly simply claim and allow the repairer to start the work, which resulted in my bike being off the road for 3 months, I changed)
    Shannons ($200 to $300 more than Western QBE for me, although I have mates who are insured with them they don't pay as much. Mind you I ride every day, they don't).
    Insure My Ride (Same as Shannons)
    AAMI (Call me petty, but after I read part of a report they put out about motorcycles and motorcyclists, I refuse to deal with them for the bike, although, much to my disgust, my wife insures HER car with them)
    NRMA (Too expensive unless you are a member and have other insurance with them)
  6. Who insures grey imports? (TPP)

    I called AAMI and they told me they don't insure grey imports. Not bothering to check with RACV or E-Bike (really expensive for me)
  7. just a quick note for you; Be careful insuring with AAMI if you want your car fixed properly if you ever have a bingle. The way they sort out who is fixing your car is rubbish - its like an auction with the cheapest quote to fix, getting the job.

    My cars are with CGU, and the bike with Swann. Never had an issue :)
  8. Actually, we've had no problems. Got a single quote, they approved it, and we got it fixed. Mind you we weren't at fault.
  9. no worries, :) just so your aware ;)
  10. What people do need to be aware is to make sure you tick all the boxes. We thought we were fully covered for a hire car, we weren't, we were only partly covered. We now have that box ticked.
  11. I agree. Shop around & see exactly what the coverage is.
    I have both my bikes with Swann (250 & 650 V Stars - $215 & $285 Rating 1)
    QBE also claim to beat any other quote or renewal
    Insure my ride & E-Bike didnt even come close
  12. Also, dont just look at the premium and excess - also consider the level of coverage on your gear.

    I'm with AAMI - accidently mind you since I had a covernote with them that I had to convert to full coverage when I had a bingle as soon as I got my ride! They seem to be very cheap if you have car ins with them and are a mature rider, even inexperienced and on L's.

    But, they only cover $200 of gear! Kevlar Jeans alone cost more than that. Riders should be encouraged to have more safety gear, not less.
  13. That gear coverage is rediculous. I quite like Swann's $3000 coverage for gear.
  14. My understanding is that greater coverage for gear is an optional extra.
  15. Actually you may be right, thanks!

    It certainly didnt seem to be an option Aug/Sept last year, at least as far as I could see, just a flat small amount of coverage. Now the PDS I found online says any coverage is an optional extra.

    I'll give em a call tomorrow and see about increasing my cover.