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How to get cheap insurance when buying a bike from a dealer

Discussion in 'Businesses and Service Providers' started by Flying is for planes, Dec 18, 2007.

  1. As many may realise the finance and insurance department make big money out of selling you finance and insurance. I know I worked in the industry for many years.

    Its not uncommon for a dealer to make $1000-$2000 from you taking their finance (% rate dependant) and like wise on insurance.

    I had NO previous bike insurance and NO previous riding experience, yet I still managed to ensure I got a rating 1 (car history).

    The dealer will make 10-20% or more out of your insurance premium. Negotiate all finance and insurance BEFORE you buy the bike. If it's costing you an arm and a leg to insure the bike remember that a $1500 premium can often be reduced to $1100-$1200 by the dealer AND they will reduce it if it means you don't buy the bike
  2. Good work mate. :grin:

    As you said, it's your dollars that'll walk out the door if they don't bend over backwards to do everything for you. :wink:
  3. Yeah when i got my bike at the start of this year...i ended up getting insurance from my dealer. They were pretty helpful to me (i think). Ended up paying 1000 bucks for a full compo on a brand new gpx, which i was on my Ls (rating6). They just sent me a renewal letter saying that i will be rating 5..costing 587 bucks which is not bad considering 1 year of riding.
  4. My husband got a Rating 1 to insure his first bike, newly licensed etc, because the insurance rep stuffed up and gave him MY rating instead - he should have been rating 5. Saved an absolute bucket load!!

    Thanks for the tips, Flying, I learn something new everytime I read your posts!! I'll be calling the dealership for Insurance quotes when the policy is due, see if I can save a few more dollars!
  5. Hmmm, my insurance company (Suncorp) told me that they don't do Lifetime Rating One for bikes, only cars.

    Which company does Lifetime? I might look at changing.
  6. Western QBE do lifetime rating one based on car driving.

    Started riding a few years ago at 34, and received rating one on bike straight off.
  7. Yeah, I went straight to a Rating 1 as well, but was told that Suncorp don't do Lifetime. Think I'll start making some phonecalls...
  8. Wow, MG, helluva lot to think about. Good post, mate. :grin: