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VIC Insurance companies that are the least shonky?

Discussion in 'Politics, Laws, Government & Insurance' at netrider.net.au started by Subby, Nov 5, 2015.

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  1. Well as I'm sure many of you have noticed, there's been quite a few bikes stolen in Melbourne recently.
    I didn't really want to start a new thread for this, and asked this question in another thread, but haven't got an answer so here we are.



    I'm about to spend a good sum of money on a new bike, at least in regards to my financial standing, and I can't help but be a little nervous about it being stolen given the local state of affairs. I want to make sure that I'm well insured and was wondering if ya'll could give me some recommendations on honourable insurance companies. I'm happy to pay a little more for the piece of mind. I was originally thinking of sticking with my old car insurer RACV, but have noticed that they aren't too popular around here due to their stance on motorcycles in general.

    I'd like to hear from people that have actually made claims, be it good or bad.

    Your feedback would be much appreciated.
     
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  2. Given the thread title, and.....
    I guess this might be the shortest thread for a while. :)
     
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  3. download.

    Justus.
     
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  4. #4 Subby, Nov 6, 2015
    Last edited by a moderator: Dec 9, 2015
    Haaa yea well I suppose it was a silly question.
    Lets change it to 'recommendations on insurance companies that are the least shonky"

    All much of a muchness then eh. Thanks for the list though Justus.
    I suppose I'll just go for the best rate from the well established ones, grab all the security devices I can and hope that I never have to make a claim.
     
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  5. QBE have always been fair to the point of extreme as far as my dealings with them. About $2 mil in aviation claims, never a quibble, and one motorcycle claim with brilliant service and no impact on my later premiums. (y)
     
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  6. yes, that is about the best you can do.
    I don't think that you will easily find an outstanding insurance company that fits all your requirements. Individual policy holders will report differently about the same company, based on their unique circumstances, policy details, contact person and claims history. What works well for one rider might be a nightmare for another. That is probably why you haven't got " the right answer" to your question. Nobody knows how good their insurance company is until they make a claim and even then a rejection could be a result of your own making. I would focus on a company that is easy to contact and has reasonable premiums. And just do as much as you can in terms of accident claims and security to make sure you never need them.
     
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  7. Yea from checking reviews on google it seems that there'll be wins and losses with any of the major insurers. I suppose every situation is different and the way incidents are dealt with will change due to a multitude of variables.

    Nice to hear that you've had good service from QBE though Heli. Noted and I appreciate your feedback .

    Thanks for your feedback too Fruechtel.
    Much appreciated guys.
     
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  8. I have made only 2 claims over the past 25+ years, AAMI with a XR6-T, and YOUI with my bike early last year. Both accidents where dealt with very swiftly and efficiently. I retained all my Policies with YOUI after my claim last year, including 2 Cars, Bike, House and Contents. Neither claim required any paperwork, which is still find sorta odd? One thing to be very careful about if you go with YOUI, is that on the Bike Policy (not the cars), they had a 90 day from start of policy additional excess of $1000 in the Finer Print. When I stacked my bike (had just changed over bikes), they slugged me this additional $1k, and wouldn't budge. After I posted on their feedback wall of my frustration, they reviewed my original quote, acknowledged that it was NOT mentioned at the time of the call, and dropped the additional excess. So what I considered going the extra mile. (It was in the policy, but like many of us, I didn't read it past the first 2 pages - duh)

    But as others say, everyone's experiences are different. Many offer roadside assist too, may save you a few bucks.
     
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  9. It is interesting that you mentioned the 90 days excess period with Youi, cause on the phone when I was quoted, I was told the extra $1000 excess for first 90days due to I am holding L license on motorcycle. I managed to find someone with much cheaper excess as well as premiums afterwards. Say less than half in both cases.
     
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  10. Great to hear some positive feedback Gooza. I'm currently with Aami for fire and theft, but they were way off the mark with pricing for comprehensive when I upgrade next month. Might be able to haggle with them though if I want to stay on.

    Thanks for sharing
     
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  11. in your search for the cheapest don't forget the importance of having a thorough understanding of the terms of your cover. More often than not it's this that results in conflict at the time of a claim rather than shonkiness.
     
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  12. Cheers Mcsenna, no doubt that's good advice
     
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  13. I just inquired with QBE and where their excess is $500 there is an extra excess of $300 on top if I have less than 3 years experience riding. And their theft excess was separately calculated at $1000
     
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  14. Thanks for the feedback everyone.
    I just picked up the new bike last Friday and ended up going with Swann. My Yamaha dealer got me a good combined deal with tire and rim insurance and they seem to be one of the more popular choices.

    Oh yea and McsennaMcsenna . I picked their brains about my cover and made sure that all of my doubts were clarified. Good advice, cheers

    I'm a happy chappy right now

    12308327_1119925928019158_7035548869915878648_n.
     
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  15. Reading the PDS is a must so you understand the contract you are entering into.

    I have all our bikes insured with Shannons, I have agreed value, modifications listed, have them on limited use as we don't commute and I have choice of repairer.
    Considering they are underwritten by Suncorp, it's their only brand worth using. In fact, I have my house and contents and memorabilia insured with them.
     
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