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N/A | National Do you have insurance?

Discussion in 'Politics, Laws, Government & Insurance' started by 2600inHD, Jul 11, 2012.

  1. After reading through the 'stolen motorcycles' forums I am interested to see how many people here actually have insurence for their motorcycles (and what type)? Whether you have a brand-newie or a junker what type of insurance do you think is best? and do you think it is worth 'running the risk' of having no insurance at all?

  2. Third party is a no brainer, I don't want to be paying off someones crap if I do end up being in an at-fault accident.

    If your riding around on a junker or something similar is it really worth paying for comp? Not really in my opinion. I however have a brand new blade so I went for full comp.
  3. I got comprehensive insurance for my secondhand VT400, the annual premium is around $240 so it seems like a sensible way to go. Apparently cruisers are low risk and cheap to insure though, maybe the economics don't stack up so well on a high performance sports bike?
  4. NRMA have given me the best prices on insurance by far

    i have full comp
  5. Unless you believe that you're never likely to run into a $200,000 car, you must have insurance.....
  6. Both hubby and myself have Swann comprehensive insurance. Mine is every day riding, his is weekend cover. There was a time when we didn't have insurance and I used to worry about that, but now we both have good bikes, and thought it was really important as we couldn't afford to replace them if anything did happen.
  7. I don't have any insurance at the moment - my bad. But I will be investing in third party, fire and theft soon enough. No WAY will I be getting full comp - at 18 years old they charge be about 2G annually.
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  8. I have fully comp insurance on all of my vehicles as I can't afford not to.
    It is worth it regardless of the value of your bike, car,etc imo, because if you end up being involved in an accident, then the last thing you want to be doing is chasing people for money or going to court if things aren't cut and dry.
    There are too many what ifs out there. Uninsured, unregistered, effected by drugs or alcohol, or just streetwise people who will not accept blame, not to mention stolen cars. If you are fully comp insured and involved in an accident with any of the above, you make a phone call with the appropriate details and the insurance company handle it while you get on with your life. Have an accident with same person without that cover and you are screwed.
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  9. I got full comp (QBE) on both of my registered bikes. Had the trumpy stolen this time last year, so it has been a worthwile excercise. Still out of pocket $2000 cause they dont pay for shit like your first service and the insurance you have to put on it again. plus had stuff in the topbox.

    When the bike was stolen, I was on a brand new one in 6 weeks. Pretty happy about that.
  10. Yes, full comp even though my VTR250 is worth maybe $3k. I'm a worrier.
  11. 3rd party property: always. Its not worth running the risk, ever. I knew a bloke who backed his uninsured car into a petrol bowser, and was practically bankrupted.

    I generaly have 3rd party property, fire and theft insurance. Comprehensive insurance isn't value for money for the cheapo bikes I ride, while the fire and theft is pretty inexpensive and covers me for circumstances I have limited control over.
  12. I have 3rd party property. If I'd paid full comp I would have paid for a second bike by now.

    The other benefit of third party is they will do all the work in a other party fault accident. Only $90 a year, well worth it.

    Tapa Tapa Tapa Tapa Tapa Tapa Tapa
  13. You definitely need some sort of insurance, don't want to spend the rest of your life paying back a debt because you were uninsured.

    For what it's worth, my 89 ZXR250 costs $230 to fully insure.
  14. Full comp with Insuremyride. It's my daily ride so I needed the security just in case. It's not cheap but what isn't these days.

    All depends on what you can afford, how much your bike is worth and if you can afford to replace it out of your own pocket if anything happens.

    If it's a weekend ride and not worth a lot 3rd party would do. Anyways, shop around.

    Edit: I'd at least have 3rd party as no insurance to too much of a risk, if you hit someone else and it's your fault, it could be a hefty bill!
  15. Just did an online quote at insure my ride:

    Your premium: $2042.25
    Based on an excess of: $400

    Full comp on a GPX 250. I paid 3k for my bike...
  16. 3rd party car, full comp bike with swann
  17. 17K bike I went full comp on it, cost me 1K per yr $400 excess.

    I can cope
  18. That's a good way to rack up a no claim bonus over the first few years. Then when you step up to a more expensive bike you'll save on premiums.
  19. I've got full comp with NRMA. I have an interesting record and these guys were way cheaper than anyone else. I'm on my L's still and have a near new cb400, I pay about $440 a year. I'm 26 and I think as soon as you turn 25 the full comp cuts by about 1/4. I understand if you are younger and have a rattler to learn on, there's no point getting full comp. But for anyone else its a no brainer. If you've got the money to get a $$$ bike, then you've got the $$$ for insurance..
  20. Couldn't have said it better; an uninsured dope carted my car into the kerb and wrote it off a year or so ago; I had to pay the excess because he wasn't insured but at least I had some money to buy another car.

    Bottom line, if you can't afford to insure it you can't afford to ride/drive it...
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