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Featured VIC 'Insure my ride' insurance?

Discussion in 'Politics, Laws, Government & Insurance' started by Fuzzism, May 5, 2015.

  1. I'm a new rider and just got my L and bike. I bought my bike used for about $3700 but am getting confused as to which insurance company to go with. I say Insure my ride on the bike sales website. Does anyone have any experience with them or know if they're good?

  2. Whilst i don't have any direct experience with Insure My Ride i would suggest you look at a few different insurers and work out the "extras" rather than just the per month/yearly cost of insurance.

    Pay attention to the 'excess' payable when you claim. Some have standard + age (below 25) + inexperienced rider excess. (on L's or P's regardless of age)
    Therefore should you have to claim, your excess might end up being 2,000... even though the basic excess is 400 ...

    Also, is there any gear / helmet coverage?
    Are you getting market value or agreed value etc

    • Agree Agree x 1
  3. Did you also use the search near the top-right corner? I used "insure my ride" as the search phrase and got;
    [N/A | National] Insure my Ride cover for track day
    [VIC] Insure My Ride Premium v Quote
    [NSW] NRMA or Insure My Ride?
    [VIC] Insurance for rider training?
    [N/A | National] Insure My Ride insanely expensive?
    [QLD] Comprehensive Insurance Recommendations
    [N/A | National] Insurance quotes
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  4. exactly what JayteeJaytee said - I insured with NRMA was cheaper than every other quote - but I am over 25 and paid outright rather than by the month - I know QBE are quite competitive as well
  5. I have gotten quotes from all the companies that insure motorcycles. Swann and QBE are always the cheapest and most comprehensive (pun intended) for ME.

    When it comes to CTP, GIO have been the cheapest for a few years now, but it's always worth shopping around.
  6. Hi there

    I was with Insure my Ride for the first year after I bought the Duke. Based on my profile and history in Australia they where the best priced. They only replace with new any written off bike in the first year - therefore I swopped to NRMA afterwards. Never claimed so cannot give feedback on that.

    A small bonus was that they covered you while doing any Advanced riding course or coach and setup day through Toprider.
  7. I got a quote from one mob, they said 1,600
    Swann said 650
    Insure my ride quoted 540
    Visiting my local broker tomorrow
    • Agree Agree x 1
  8. I am currently with Insure My Ride. Haven't claimed so I can't comment on their claim process. Premium was the cheapest of the ones I looked at, but have since found more insurance companies that I should also have checked. Excess is very high for 1st year riders. Standard excess is $400, but there is an extra excess for 1st year riders, $800 I think, but it may be more. You do get a 5% discount on premiums if you do an advanced training course with one of their listed providers.
  9. As you can see from above check out

    If you would like to spit coffee all over your computer and piss yourself laughing you can try RACV

    Always look for different quotes every year . Insurance is a moving beast
    • Agree Agree x 1
  10. Check out the actual pds as well covering how to make a claim & their procedures.
    I recently did a not at fault claim with QBE. (SMIDSY when a cager tried to chuck a u-turn while parked, no indicator etc.)

    They covered my damaged gear HOWEVER, I had to provide the receipts AND send the damaged gear (at my expense) to their office for assessment. Ridiculous and I was only given replacement gear not re-imbursed. So I had to wait for my new gear to arrive which took weeks when I could've gone to my local MCAS & pick them all up the same day.

    I was given a choice of their authorised repairers. Still waiting more than 4 weeks since it arrived at the repairer due to back ordered parts. I had quite a few aftermarket bits that luckily were undamaged in the crash, if anything is missing there'll be hell to pay.

    So based on my experience I probably won't go with QBE again unless they were miles cheaper, & I will take the time to read my pds in full.

    Another tip is never ever take up an insurers renewal unless you shop around first. Plenty of saving to be had but keep in mind the pds as you might save a few bucks but gain a world full of headaches if you have to make a claim as I have found out
    • Agree Agree x 1
    • Informative Informative x 1
  11. The devil is in the small print.
  12. I had a claim from insuremyride when my son was learning and dropped it doing an E- brake practice. First issue, they wanted me to take it to their nearest repairer, which was 400 Kms away. When they got their heads around where I lived however, it all went pretty well, and I got the bike back fixed properly. The are no worse than any other insurer from my experience.
    • Like Like x 1
  13. Thanks guys! My main concern isn't really about money unless it's much more expensive than the other companies. I'm more concerned about the claim process and how easy they make it. I've been reading horror stories about every company and I just want to avoid the hassle
    • Like Like x 1
  14. FuzzismFuzzism - I'll give you a first hand experience story.... I'm insured with SWANN (fully comp)..

    I had an accident , lodged my claim, gave them all the driver details, witness names etc. This was on 28th Feb 2015, as I was heading out on one of Uncle GregUncle Greg's rides.

    It is now May... The bike was fixed about 5 weeks ago.. SWANN were quick to have it assessed and repaired.

    Now here's the sticky part..

    My bike has been sitting on the repair shop floor for the better part of 5 weeks whilst the insurance company chase the driver (who has been dodging all contact attempts). They WILL NOT do anything more than send a letter, fire off an SMS, or try a random call. This will continue indefinitely until the driver makes contact with them.

    As SWANN haven't suffered a financial loss (they haven't received the repair bill from the bike shop) they will not take any legal action against the driver, because until they get the bill they simply don't care as its costing them nothing.

    Long story short.. I had to pay the $1000 excess (goes back to my original reply to you) or $400 plus $600 for being on P plates, to get my bike back.

    Why pay you ask? It wasn't your fault!! - I know right, but i don't want my fixed bike sitting in a shop for months on end whilst i'm (1) paying for rego and (2) paying for insurance on something i'm not using.

    So now I'm paying under protest to get my bike back and so that they finally get the repair bill and have to take action against her.. They said something along the lines of if i pay now, and they recover costs etc they will give me the $1000 back as i'm not at fault.

    I take that last comment with a grain of salt, i've basically put it down as a hit and run in my mind and that i've lost the $1000 which i'm prepared to cop, I just wanted to get on with the job of riding and enjoying my life.

    So yes, by all means shop around and save the $5 a month between insurers but please please please make sure you fully understand what mess you'll be getting into should you ever need to claim or have an incident thats not your fault.

    • Like Like x 2
  15. I had a claim with insure my ride a couple of years ago. They arranged for the bike which was a rideable write off....to be picked up from my home, and paid out the insured sum to me within 6-8 weeks. So my experience was good.
  16. 6-8 weeks is a very long time to be paid!
  17. I'm a newbie, only had my bike for a month. But I went with swann, number 1 because I bought my bike at peter stevens, so they're associated. And 2, they had the cheapest annual rate for me as a newbie and learner.

    Initially, I was wondering what was wrong with them given what other's experience have been like. But at least now I know if I do have a major major issue, I can go to Peter stevens and speak to their representative directly about any concerns I might have.

    Plus, it does make me feel better that Peter stevens is backing swann insurance. So there must be some sort if decent reputation there.

    Just my two cents... :)
  18. Note: The yearly fee is just that a yearly fee.. You still have to pay excess when you claim.

    With Swann your claim is made up of a Basic, Age & Licence excess. There is also an undisclosed rider excess should someone other than you ride the bike and stack it.

    Note #2: You can remove the licence excess with SWANN by the following;
    • The rider of the Motorcycle at the time of an accident has completed an accredited rider training course which has run for a minimum of six hours duration, after they have obtained their probationary or provisional rider’s licence.
    This would save you $600 when you claim.

    PDS's are wonderful things....

  19. peter stevens backs swann because they receive a commission from every new policy they sell !!
    • Agree Agree x 2
  20. Insurance companies are all cnuts & will try to get out of ANY claim. They are not your friend! Go to a comparison website & see what comes up. Be wary of some of the cheaper options as coverage is VERY limited. Depends if you want your gear etc covered.

    Just know what you're paying for be it home, car, bike, health etc...insurance. They all get together once a week for poker nite to discuss how best to screw us over without us knowing about it!
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