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Discussion in 'New Riders and Riding Tips' started by X, Mar 12, 2008.

  1. Aye I'm just about to get my L's and my bike and I'm worried about insurance.

    Any imitate things I should know?

    References welcome.

    I'm just 18 by the way.
  2. Definitely worth getting 3rd party property. Mine as only $170 odd and I signed up when I was 18. It will cover you for any damage you do to someone else property although the excess will be over $2000 if you do have a crash. But thats better than the huge money you could be up for if you hit a Ferrari, Merc etc.

    I also got theft because i'm paranoid about someone stealing my bike. $680 a year.

    If your going to be getting a learners bike under $5000 full comp is unnecessary IMO.
  3. Check out insuremyride when you're getting quotes - they're generally the cheapest :)

  4. with who???
  5. Yes, prepare for teh but rapez.
  6. Open your wallet and bend over, you'll be fine. :LOL:

    Best advice, shop around and get quotes from everyone. Then take you cheapest quote to everyone and see if they can beat it. Don't forget to factor in variables such as excess and gear coverage, then pick the best deal. :)

    Read all fine print carefully.
  7. Check if your bank offers any deals. I'm with CGU through BankSA which saves me 10%.
  8. A very big +1, here.

    Most of my quotes were between $650 comprehensive and $1230 "we don't like to insure bikes" (yes, that's what they said to me) from a primarily-car insurer. Then the last insurer I tried blew them all away with $220 comprehensive.

    (I've left the name of the insurer out because they won't necessarily be the cheapest for you - the point is, you gotta shop around!)
  9. You get points from me for even thinking about insurance so well done :)

    If you are prepared to "replace" your bike if the worst happens, 3rd party insurance is the way to go for young people. Otherwise you'll be shafted for comp for years.

    With a few years under your belt and maybe at some stage a new bike, comp can be much cheaper through the bike dealers. Until then shop around.
  10. I am in the same situation as yourself only a little further along (got Ls and bike in the last couple of weeks). I just got insurance 2 days ago.

    Do a couple of online quotes. I did this with: QBE, NRMA, Insuremyride, Shannons. Results...

    Insuremyride had a very cheap 3rd party quote - 125.00 (I'm an old fart though)

    QBE won my money because their quote was very cheap for comp insurance (243.00) and had heaps of features (ie. personal gear, hire car etc), again it was this cheap because I'm an old fart.
  11. Can someone please give me a quick low-down on the differences between Comp', third party etc.

    I'm' not 100% but I have a good idea.

    Just though I'd make sure.
  12. In simple terms 3rd party (property) you are insuring for damage and injury to the other party. You are on your own with your own repairs.
    Comp covers everything depending on exclusions etc.
  13. is there a list anywhere of the places that do bike insurance?


    anyone care to add to the list?
  14. GOOGLE
  15. They were the most expencive for me.. AAMI was the cheapest at $500 insure my ride was just over 1k (both full comp, im 26 and have another vehicle insured with AAMI)
  16. Hey i found that RACV were the cheapest...20yr old...L plater...in Vic....but that was just for 3rd party....good luck
  17. If your spending upwards of 3k on a vehicle and you had to save to get that money go with full comp.....

    last thing you need is to have an argument with a car then have a bike you cant ride and no money for another one...

  18. Full comp? For a 21 year old learner with no experience? Insure My Ride quoted around 2,000 a year if I get a relatively new sports bike. :(

    Do you think if I spent around $7,000 on road for a bike, that it'd be safe to go with third party, fire and theft?

    I will still check out full comp from other providers, but was just trying to get a base quote to work from.