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Insurance

Discussion in 'Businesses and Service Providers' at netrider.net.au started by traveller, May 4, 2007.

  1. Hi Everyone
    Just realised my insurnce was due and had a look at my premium and realised i just didnt want to pay that much a friend told my about insuremyride, got a quote online and it 60 bucks cheaper just wanted to know if anyone is using this insurance and are the reliable and will pay up in need. Uknow what its like out there in insurance world just dont wana get screwed in case of and accident or in need of a claim.
    Cheers all


     
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  2. I'm pretty sure they're a site sponsor. Quite a few people have insurance through them, and I'll be going through them myself when I get off restrictions.
     
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  3. They rawk!!!!!

    A number of people signed up with them, me included :grin:

    Iffracem had to make a claim and according to Jim, they were the the perfect company to deal with.

    Do a search you'll fond the post.
     
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  4. Thank so far the the replys all sounding good for a change i think i will go for it im tired of being ripped off for something you may never need fingers crossed but have to have it else you could lose alot of money and end up with nothing and car companys cover bikes do that well.
     
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  5. Just be sure that you are gatting all the cover you need from InsuremyRide or any other provider. Compare your current policy before you change....The $60 you save, could cost you alot more if you make a claim.

    I noted that Insuremyride only offer market value policies, to me this is not suitable, and I always opt for an agreed value policy. In my case InsuremyRide were only $71 cheaper than the nations largest insurer.

    Compare apples to apples
     
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  6. Err Inuure myride is part of a 22 billion dollar company.... :shock:
     
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  7. Then what are the chances that it could just toss me over a cool mill, I mean with that much wealth, they would make it back in, oohhh, what, 4 minutes 18 seconds :rofl:
     
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  8. Guess it will be obvious soon how cashed up they are.....they will have to come under the same scrutiny soon.

    Hope if they pull out of the market, they are nice about it.

    Crackdown on insurers

    Jessica Irvine
    May 4, 2007

    INSURANCE sold to Australians by unauthorised foreign companies will come under the same scrutiny as domestic insurance under changes announced by the Assistant Treasurer, Peter Dutton.

    The changes are the result of a four-year government inquiry into the risks posed by direct offshore foreign insurers after the collapse of HIH.

    The collapse raised concerns about would happen if an offshore insurer went under. Such companies are not governed by the same strict capital requirements and regulation as domestic insurers.

    Mr Dutton said yesterday the Australian Prudential Regulation Authority would gain full power to monitor and regulate these offshore suppliers.

    "While Australia always welcomes well-capitalised and well-managed foreign insurers, we will now insist that they be subject to the same rules as Australian insurers," he said.

    An independent review in May 2004 recommended that direct offshore foreign insurers come under APRA regulation. It took three years of consultation with the insurance industry to iron out how the regulations will work.

    The Insurance Act will be amended to ensure that anyone running an insurance business in Australia, directly or indirectly, must become an authorised insurer, and fall under APRA regulation. Exemptions will be available for offshore companies issuing insurance products that cannot be underwritten in Australia.

    Direct offshore foreign insurance accounts for roughly 2.5 per cent of the insurance market in Australia.

    Mr Dutton also announced a "rigorous and compulsory" program to collect data about "discretionary mutual funds".

    These funds sell insurance products without a guarantee to cover any insurance claim. They provide cover for high-risk activities that are not covered by normal insurance.
     
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  9. I don't understand your point?
    Insuremyride and it's parent Promina Group are not the country's largest insurer....And the wealth they have doesn't make them the biggest either.
     
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  10. "the nations largest insurer" seemed to infer that the other was a small company. Insure my ride is not, an its parent is not promina.
     
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  11. Can we please ensure that we trim our quotes. Laziness will have your post removed.
     
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  12. Let's try again Insuremy ride is part of Promina, which also includes the like of AAMI and Shannons.
     
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  13. Actually - InsureMyRide is an agent of and owned by Australian Alliance Insurance as are the sister companies (Shannons and APIA) and are now a part of Suncorp. AAMI is an underwriter in its own right, although is also owned by Suncorp.
     
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  14. Thanks Derat, they are all part of the same company that Yes has now been taken over by Suncorp !
     
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  15. Experienced or new riders alike...

    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.
     
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