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Insurance, Who To Choose?

Discussion in 'Businesses and Service Providers' started by DonDock, Mar 19, 2007.

  1. Sorry if this is in the wrong section but ddint know where else to put it.

    I have owned my bike for a while now and have not had it covered purely for financial reasons. But i would like to hear some opinions on who are the cheapest and best ect.

    I just had a look at insuremyride.com.au and the quote i got for my bike was this:

    Comprehensive: Total Annual Premium $1321.71
    Third Party: Total Annual Premium $112.96

    I mean third party is unreal but it seems a little too cheap. If anyone can help that would be great

  2. I think the 'which company' question is knotty, because different companies excel in different areas of the market, different aged riders and so on. You need to do some ringing around and comparing (even if, like me, you'd prefer to do all the research online and by e-mail, there's no substitute for the phone).

    The bottom line numbers are important, but don't forget to be aware of excesses, exclusions and of things like whether your gear is covered ('cos if it's not a relatively minor prang can still cost a grand or so).

    It's not a simple judgement, and you'll have to make a few judgement calls on what risks you're willing to assume versus what risks you're willing to pay the insurance company to assume.

    But get third party property ASAP, definitely... I personally would never ride without it, because (a) a single at-fault (as determined by the cops/judge, not you) prang can impact your finances for life and (b) in any negotiation it's you as an individual vs a major corporation (the other driver's insurance company) and you stand an excellent chance of getting screwed.
  3. They are backed by some pretty heavy hitters who are just really focused on this market and passing on the internet cost savings.
  4. Comedy of errors - Swann Insurance

    I made the mistake of showing up in an area where a dawdling merc 4x4 decided to turn right without indicating when I tried to overtake. I clipped him, went
    over the handle bars and the bike slide to the left. When lying on the road waiting for the ambulance I saw the merc's indicator running and the driver making it a point to keep it running while the police arrived. As such,
    I was deemed in the wrong

    The bike was ridable so I took it to a local dealer for repairs. They said I was in luck! There was an assessor from Swann due in the next day. Lucky because they only
    show up on a fortnightly basis. I found out that the assessor did show up but couldn't do anything as he didn't have the work order. Two weeks passed. The bike got
    assessed but it was another three weeks only after I did some digging that the dealer still didn't have any authorisation to order parts let alone do the repairs.
    Another three weeks later, I finally got the bike back; two months later.

    Do yourself a favour. Stay away from Swann Insurance. If you're already with them, don't have an accident especially if the other driver drives an expensive car.
    It's easier for them to hammer you with a loss of no-claim bonus than authorise lawyers to go after the rich.
  5. Did you see the excesses?
  6. Sorry, Don, the penalty of being young.

    Western QBE on my Hornet, insured for market value, $159 for six months and $264 for 12, $350 standard excess with a 5 year no-claim bonus.

    So relax, you've only got 37 years to go :LOL:.
  7. They are way more expensive than my current NRMA policy, and I have max no claim bonus, garaged, not ridden daily etc. They also offer only a market value policy according to their PDS. This alone can be the difference of a few thousand $$ at payout time.
    For my money if there is no agreed value with that figure being the payout figure in the event of a total loss (some offer agreed values, and in the PDS state they will pay the lesser of agreed value or market value) then they will never get my $$