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QLD Insurance for first bike, new licensee

Discussion in 'Politics, Laws, Government & Insurance' at netrider.net.au started by ryangus, Apr 16, 2012.

  1. I've finally got my QLD RE license after having my leraners for ~20 years! =D>

    I'm insured with Shannons for my 4x4, but don't meet their (lengthy) criteria for a bike.



    Any suggestions on where to go for insurance?

    BTW, thinking about a BMW F650GS.
     
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  2. Generally, QBE or Swann is teh cheapest for that criteria. QBE tends to be the cheapest - but make sure you read the PDS.

    Every now and again another insurer is cheaper though.
     
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  3. #3 DJ666, Apr 16, 2012
    Last edited by a moderator: Oct 24, 2015
    During my search I myself found that AAMI was the cheapest (for a learner with a brand new 650L) and there PDS seemed pretty good (from a noob point of view someone experienced in reading those things might have found a bit more than me)

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  4. I used QBE on my rides when newly licensed.
     
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  5. Do you have a car license?
    NRMA will (in NSW anyway) consider the length of time licensed to drive a car. Not sure how that will work in Qld but worth checking.
     
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  6. Of what I looked at, Swann were my cheapest option by a lot and included years driving (not just riding). But yeah, magnifying glass to the PDSs.
     
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  7. Try Avea insurance. My 22 yo friend just insured his new cbr1000rr for under $1500.
     
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  8. Six years ago I needed to insure my 1100. I had rating 1 on the car and most insurers I contacted would have still given me a rating 1 on the bike. I was 49 at the time so age wasn't an issue and no other rider to worry about.

    Problem I had with all but one insurer was riding all year around. Some said 'no' straight up, others would but a very high premium.

    The reasoning being that I was seen as a high risk compared to someone who rode only weekends or the warmer months of the year (part time riders).

    Swan insurance didn't have issues with me so that's where I went. On average $35 a month for the last six years at rating 1.
     
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  9. Insure My Ride will transfer your No Claim Bonus from your 4x4 to your bike. They also include time spent on L's in the total time licensed.
    Shannnons and Insure My Ride are both owned by Suncorp. I'm surprised Shannons didn't point you to Insure My Ride.

    I also have a car insured with Shannons and was going to go with NRMA with one of the quotes I had. Their site wasn't working last night and I went to Insure My Ride to get a quote and found them much cheaper.
    IMR agreed value was much higher. Excess was lower. Gear and personal item cover is optional. I found personal item cover jacked the price up more and didn't include jewelry. I didn't add it but added gear cover.
    You can get an additional 5% off if you do an approved course. I think there's a discount for applying online.

    Conditions with Insure My Ride (off the top of my head, might slightly vary):
    - No suspension or loss of licence in last 5 (I think) years
    - No criminal conviction for things like fraud
    - No more than 3 at fault claims in last 3 years
    - Need to be owner of bike
     
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    • Like Like x 1
  10. +1 to this. I'm 20 and got away with a 2010 R1 for $1600.

    Their whole angle is offer cheap insurance to younger riders, they'll probably be a member for life.
     
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