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Getting insurance

Discussion in 'Businesses and Service Providers' started by spongesam, May 12, 2007.

  1. Purchasing Insurance.
    What do I need to have?

    I just bought a bikesy, and have to get insurance.
    Do I need things like VIN etc?
    Or just my essentials? licence number etc etc.

    Can you tell i've never had insurance before?
  2. Congrats - what did ya get??

    You can get a cover note subject to Rego, VIN and engine number (so you can ride it home :cool:

    I had quotes from eBike and QBE when i went to collect my bike in Jan and then went with QBE
  3. Have the year, make, model, VIN, rego, value, purchase price all handy with you and call around for some quotes.

    They're gonna ask you all the same stuff as when you buy car insurance (if you've never had that before, its a few details about yourself and the bike, then where you'll store it, any security on it, any modifications, etc) and you can take it up over the phone. They'll send you out anything you need to sign.

    I'm not 100% sure but I think some insurance places only go through dealers (e.g. Swann .. there's nowhere on their website for the layperson to get in except to contact them about existing policies, so not too sure if you can just "go" to them).

    Aside from that, sit down, make a lot of calls, have lots of paper in front of you and ask all the same questions of them.

    Questions to ask:

    -How much are you insuring my bike for?
    -Agreed or market? Can I get agreed?
    -How much and how regular are the repayments (e.g. annually, quarterly or monthly) and how much extra do I pay to make more frequent payments? (most companies charge a small bit extra if you want to pay monthly)
    -What are the applicable excesses? (i.e. how much will it cost me to make a claim)
    -Is it cheaper to take up the policy online? (e.g. insuremyride.com.au)
    -Is there a limit on km/yr with the policy?
    -Can other people ride my bike, how much does it cost to add other people and what excesses apply to them/me?
    -Are there any other restrictions?

    They're the sorts of questions that'll give you the bulk of the information you'd need to know.

    Aside from that, depending on where you are, some examples of places to call:

    -(Western) QBE
    -Swann (via a bike dealer if you need to - ask them)
    -check the garage section for other companies.

    You'll find some of them have different rating schemes which probably won't matter much if you've never had insurance before (some only support rating 5/6 while others happily support rating 1 as with a car). If you've been included on anyone else's insurance, including your parents, mention it. It may help.

    Mostly its all just about asking questions and finding the happy balance between policy rate, applicable excesses, sum insured and payment frequency, as well as recommendations from others. Plenty of people have insurance on here - both comprehensive and 3rd party. Check out the garage section for anyone you want to ask specific questions of once you've done your calling around.

    Good luck.