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Insurance issues due to unfortunate incident

Discussion in 'Businesses and Service Providers' started by djdante, Jul 24, 2007.

  1. 6 months ago I decided to put my ZX9R up for sale, and purchased a CBR1000. My dad decided that I loved riding the ZX9R himself too much to see it go, so he purchased it from me, but neither of us was getting around to transfering the name accross. He took off my ZX9R insurance, and started organising his own, but never got around to it. (bad mistake, I know, with his owning it, it lived in a lockup garage every night, and never left his site when he took it riding so it was easier than you might think to overlook, but moving along..)

    3 months later, I'm in the city on a saturday night, and come back to find my beloved new CBR1000 stolen. I told the cops, filed a report, and notified my insurance company. I am part of a coaching program which coaches people at night, so I had to be in the city the following night, where dad let me borrow his bike. You can imagine my horror when I came back to find it was stolen as well! Anyway, i did the whole reporting procedure all over again, and told dad the bad news. He called the insurance company only to find out that it wasn't insured.

    Okay, that's all terrible, but ultimately the fault lay on us. Also those were the only two bikes stolen from the city area that whole weekend!

    Now I'm about to buy a GSXR750 and looking for insurance quotes, I find that my old insurance company won't insure me because I've had 2 bikes stolen within 5 years. It seems incredibly unjust seeing as the odds are that the two bikes were essentially stolen in one organised hit on two consecutive nights by someone who had ascertained that we had 2 bikes. I've owned bikes for 4 years and never had incident before this. Also, they didn't even have to pay anything for the second bike anyway because it wasn't insured with them! AND, the second bike was my dad's, just not in name yet..

    Does anyone know what insurance options I have now? Or if I have any negotiating options with my old Insurance company (shannons)?
  2. Shannons like all companys have different criteria they use, i have just run a psuedo quote thru swann, it looks ok, your details will be different though, but i dont have them.
  3. Sorry to hear.

    Don't know how you'd go on-line, but just ring a few and explain the situation; happened on consecutive nights, mix up with insurance, was effectively your dad's bike, didn't even make the second claim...if your past history has no other glitches someone will take the risk.

    All the best with it
  4. If the second bike wasn't even insured do you even have to mention it cos you haven't made a claim on it.
  5. That's ridiculous :roll: . Most insurers (and Shannons do) - ask if you have had any thefts before (doesn't matter if you have claimed or not).

    The duty of disclosure, and duty of utmost good faith which are covered well under the contracts act. (sections 21 and 13 respectively) require the person to:-

    Failure will allow the insurer to act as if this information was provided when taking out the policy (and if that means the insurer would not have accepted the risk - you are not covered).

    This would include both a stolen bike you have not claimed for, and a bike which was stolen while in your possession.
  6. exachary!!

    that's why i'm paying insurance for a bike that's written off while i've lost my licence. if i cancel the insurance, i have to get a licence history check when re-applying.

    cheaper and easier not to say anything.
  7. [​IMG]

    Yeah - I've seen how this one ends. You can read for yourself the claims before the insurance ombudsman where the insured 'forgot' or 'didn't think it applied' to inform the insurer about a previous loss. Funny how an insurer finds out these things, neighbours are far too often willing to give an investigator some details about a previous write off (or 'that accident, the guy had last year on his bike...').
  8. and if you make a claim they can get a licence check and refuse the claim based on the disclosure clause and that is neither cheap or easy
  9. .........
  10. exactly

    if something seems a little fishy or they want to be pedantic then they request your licence history and if it doiesnt match what you have told them then they can easily reject your claim
  11. .........
  12. One thing I've learnt on this forum with regards to Insurance advice, is that everyone has a different answer.

    If you want the RIGHT answers go to the Insurance Ombudsman (The Insurance watch dog) cos I wouldn't trust the info here & I certainly wouldn't risk my bike not being covered, because I took some dodgy advice.


    ph: 1300 78 08 08
  13. So clearly, you think that having a bike in your possession stolen, twice, from the same location on the second night is not a relevant matter requiring disclosure. :roll:

    And your basis is that the bike was sold (to an immediate relative)...

    That is about as fickle as the kid ringing to get insurance in their mum's name..... :? It all sorts itself out at claims time. But its things like that that end up giving the insurance industry a bad name with a view to trying to weasel out of a claim. And here your advice is to get cute with the underwriter on what you consider detail.
  14. .........
  15. They are both matters of relevance to the risk being underwritten. The owner no longer has a financial interest, but the incident itself is certainly a matter of interest to the underwriter given the bike was in the possession of the person who would be withholding this information from the insurer. :facepalm:
  16. Stop arguing you are both (almost) right.

    It's not the "financial" owner as such, its the person who has control of or title to the vehicle, or even the "beneficial" owner. (The last being little jimmy driving a car dad bought.)

    Having a vehicle in your control stolen, whether you on it or not is a matter of interest to the Insurance Company.

  17. Not sure that is making me 'half right'. Its exactly what i've been writing before.