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.

Insurance Confusion

Discussion in 'New Riders and Riding Tips' started by serafina, Apr 20, 2006.

  1. Hi!
    I know this has been asked many times before, but i keep getting different answers and i'm really confused (and worried).

    I'm wondering if someone can give me of an idea of how much money i would be looking at for basic insurance? Also can someone give me an idea for fire and theft as well?

    I'm an 18 year old female with no previous driving/riding experience blah blah, no imports or anything like that, will be on L's.

    Thanks Heaps, :grin:
  2. Sorry Sera, there is no basic answer to that question.

    Youo willpay more for insurance than an old fart like me, because you're in that age group that bean counters think are a higher risk, add on a learner and you'll be slugged more.

    You'll need to do what we all have to go through, ring, ring, ring the buggers and get quotes. It'll vary HEAPS, so make sure you compare each company's cover.

    Oh yeah, type of bike effects cost, eg a CB250 may well be a lot less than a CBR250RRrrrrrrrrrrr

  3. Hi Serafina

    Get a cheap bike and get "basic insurance" - third party property, fire and theft - around $150.

    Good luck with it all
  4. The cost differs from one place to another and dependds on what bike you have, where you live, gararged or not, etc.

    I'm only paying $88 for third party but if i wanted to go full comp with the same insurance company it'd be $1200.

    Just call up one of the insurance companies and they can send you out a quote for any bike you want.
  5. on my first bike i had a pos. i only got third party property insureance. was willing to accept that the bike was cheap and something happend i just buy a new one. now in the event that i crash into a merc or a ferarri and there is 10,000's of dollars of damage (yeah overpriced damage) thats why i had the thrid party property.

    as you get experience and get a better bigger bike you will probably want to get full comp insurance, now you will pay more, then it will go down each year with no claim's as you get older.

    now if you dont have comp insurance for a year previously they wipe you no claim bounus and you start all over. (depends on the insureance co)

    some companies,
    western qbe (my current)
    Swann maxirider (previous)
    thirdparty on pos, (gio)

    some insureance co's give a discount on ctp if you have full comprehensive and a max no claim bonus

    see you at homebush bay brewery :)
  6. i know how you feel its not good for young people to get insurance. Major factors are they're inexperienced, more likely to cause an accidents then the more "mature" riders.

    Only way out would be getting Third Party Fire and Theft and then hold that for a few years and get your NCB.

    Then again your new to riding so the chance of getting into an accident is far higher so $1000 may sound alot but once you have an accident you think that its pretty much nothing.

    A friend who we rode wih low sided his brand new GSXR600 which he only had for 2 days. That morning we were bitchin about how much we pay for insurance but after he stacked it we were like thank god!
  7. Check out www.nrma.com.au for an online 'estimate'. Should give you a ballpark figure.
  8. insurance

    I live in tassie and rang around for insurance the other day and the cheapest i could get was with NRMA it was 574 full cover gio and swann was 700 ish and cgu wanted over 800 so i was preety happy with NRMA and shannons would not even insure me with all the others i could use my rating 1 NCB
  9. yeah shannons is pathetic -
  10. Dan, just checked out NRMA and apparently it's going to cost me about $200 for the third party property insurance.
    Comprehensive is totally out of my reach. I'm paranoid about my bike getting knicked though.
    Is this common? Will mb security locks prevent this?? I'm worried about that.
  11. There are a good range of bike security options, but at the end of the day a bike is more vulnerable than a car - it isn't that common but it does happen. Unless you can chain the bike up to something that can't be moved (ie the ground) then anything that immobilizes the bike (such as disclocks etc) can be pretty easily circumvented by just lifting the bike.

    Something like the Xena lock is a good option, as it has a very loud alarm that activates if someone moves your bike while it's on. That's OK as long as your there. Another good option are ground anchors which are great to tie the bike to the ground where there isn't anything close to chain it too.

    Check out here for some ideas: http://www.webbikeworld.com/motorcycle-alarms/

    Putting the bike in a garage/shed is a great start, or failing that a simple cover can be a good deterant to opportunists.
  12. bikes are easy to steal, a couple of guys can just lift it up and its on a back of a ute or in a van and gone.

    you can buy alarmed disc locks less than 100 bucks, so at the very least it will make some sort of noise.

    later on on your insureance you can do a few things to reduce the cost, an alarmed bike (aproved alarms around 600 to get them i think) can give 10% off , aswell as being the nominated rider another 10, and if your lucky you may even get a discount for being in a motorcycle rider org or club.

    what sort of bike do you have ?

  13. I regret not getting insurance on my first bike, and I regret even more writing it off, but most of all I regret the 3 years without a bike will I rebuilt my finances to be able to afford one.

    If you have the fears and are able to pay the extra to get comprehensive insurance (assuming its not ludicously expensive) then the peace of mind might be worth it. But you are holding the purse strings on this one not me if I hadn't of had the accident on my first bike then I would have been ahead financially but that wasn't the case.