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Insurance Scare

Discussion in 'Businesses and Service Providers' started by Breno, Jul 10, 2006.

  1. I woke up bright and early this morning all excited because today was the day i was going into City West Yamaha in Hoppers Crossing to talk figures with the local dealer about the new R6. first figure im told is the bike is going to cost me $15,250 drive away, which i was very pleased with. second figure was the insurance. a whopping $7500 per year plus $800 excess (Swann) . i was at a loss for words.

    i had waited 2 years get a bigger bike and the one i had my heart set on was going to cost me half of what its worth in insurance. but not to be discerned i decided to ring around.

    i thought ill give shannons a call, if its going to cost rouhly the same ill enquire about the riding on weekends only policy and keep the lil virago for work, shannons wouldnt even give me a figure because they dont insure 20 year olds.

    next on the list was QBE, they quoted $5500 per year, with a $500 excess and a extra $500 because im a P plater. still too high for me, i thought i wasnt going to be able to afford the petrol for it if i had to pay so much in insurance.

    then last but not least i decided to call AAMI, and was utterly gobsmacked when i was told $1871 plus $550 excess. i didnt eleive them, so i hung up and rang back a short time later and made sure they got all my details, P plater, had an accident, has driving offences, that its a sports bike yada yada yada. sure enough i was told the exact figure once again. still not convinced i asked for a branch manager to confirm it and to send me out the quote. so he confirmed it and my quote is in the mail.

    so to all those who asked in my 1st hello post how much my insurance would be, its $1871 per year with AAMI.

    tomorrow im heading into Geelong to test ride it, and they have a brand new black one in stock. cant wait :D
  2. Very good choice of bike and insurance too.
  3. 15.2K for a 600 :shock:

    Wow, thats rich
  4. its brand new thats why :p
  5. Sounds about right.
    I'm with AAMI and the insurance is $360 full.
    or $80 3rd party...
    I'm stilll a little gobsmacked as to how the specialty insurance companies can't really match that....
  6. im rating 6. my mate is with aami and he is on his L's and car P's and its $600 full comp for his kwaka eliminator. my third party on current bike is $120 with RACV.
  7. Apart from AAMI you can try even weirder optons such as health funds, they have off shoots with insurance. You'd be surprised. Call around. I'm iwth Swan for an 06 ZX6 and fully comp is $347 p.a. But i won't tell you my age!!!!!
  8. i think my age rating driving offences and type of bike im getting has influenced why it is so expensive.

    but i cant comprehend how Swan quotes $7500 and AAMI quotes $1500.
  9. Don't AAMI do all of their repairs in-house?

    When my wife dinged her car, she was with AAMI. She didn't have choice of repairer, AAMI fixed the car for her using their own people.

    Well, that was for a car, unsure about bikes.
  10. Dude... Thanks!

    I've got plans for me GPX (fixing fairing, replacing another damaged piece, fixing the odometer, custom paint etc) and have thought of going Comprehensive, because I want to keep her long-term (and will need to, since NemoHac and I will probably be buying a house in... oh... less than 6 months) and was wondering where to go for it.

    We had no idea that AAMI do motorcycle insurance! That's awesome! We have contents insurance with them, too.
  11. i'm also with aami, l's, 22, $410 full comp, aami all the way
  12. Easy .. Swann's underwriters have told them that they are currently carrying too much risk and they need to reduce it. So, at least for now, they price new quotes and renewals for high risk policies to make them unviable - thus reducing their risk.
  13. so swan jacks the price up to deter high risk clients for the time being?
  14. Ya

    NemoHac was told after his crash that they wouldn't insure him any more, but he's with QBE, because they would insure him at the same cost Swann was before the crash.
  15. Sure you cant negotiate the R6 below 15.2k? You can pick up a k6 gixxer thou for 16.5k... Id seriously be pushing for a better price :wink:
  16. One of my mates got insurance with some Elders mob or whatever.
    2005 CBR600RR, under 30, its something stupid like $300 :shock: they have no idea what they are insuring so just quoted the same as his car or something :LOL:
  17. Call ARISTA 1300 274 782.

    I was quoted $1000+ from everyone else for the new GSXR 600 and they were only $700, pretty happy with that!
  18. thanks mate i will give it a try tomorrow. but i cant see it being too low because i dont have a rating and have bad history kind of (but no claim history so that helps)
  19. i just read in Undii's post and it saud Arista do riders from 25+ i think. ill call any way try my luck. shannons wouldnt touch me when i told them i was 20.

  20. AAMI dont have an in house repairer for bikes (just dont let them take it to their workshop for evaluation) take it to whatever bike shop you feel happy with and get it quoted on and fixed there.

    had a bit of a fight with AAMI a few years ago, just got my own independant assesor to have a look at the bike (they are required by law to accept his finding if he is accredited) they paid, bike got fixed, all is well again in the world.