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New bike insurance companies?

Discussion in 'Businesses and Service Providers' started by Bogus69, Feb 12, 2007.

  1. Over the months I have heard mumblings that there will soon be a couple of new players in the insurance market.

    Vic or Mouth.... Can't remember which one of you has been saying, but do you have any further info regarding time frames etc??



  2. Right about when my bike is supposed to arrive ;)

    Thanks Pete!
  3. As far as I am aware, ebike will not trade as ebike here in Australia, it will trade under the same name that it trades under, over in unzud and thats IDO.

    Maybe someone propositioned them ;)
  4. You might want to have a look at their website Vic, it looks like thay are already trading in Aus...
  5. I probably should :)

    I'm only going by what their sales guru told me at both the Melbourne and the Brisbane expos.

    They were giving away balloons and boiled lollies plastered with IDO all over them.

    ebike in-sewer-ants is the parent company as far as I understand.

    I've never been wrong in the past have I????? :p
  6. Be careful when you buy insurance, there are various questions that
    you need to ask to know *why* one policy is cheaper/more expensive
    than another; in particular with online insurers i've had unpleasant
    answers to these questions:

    -replacement period on a new bike ?
    -market value payout vs agreed value (market value is their 'best guess'
    of what your bike would sell for, agreed value means you get what
    you have agreed the bike is worth, no arguments).

    -how much riding gear (if any) is covered (do you own $2000 worth of leathers boots and helmet and gloves that would be trashed in a crash?)

    -is the lower premium based on a higher excess?
    -is the excess extra if the bike is stolen from outside your garage?
    -can you use your car no-claim bonus (rating 1)?

    -if I trade-in for a replacement bike is it covered for at least a
    few days so I can tell insurer about insuring it when the company is open?

    -am I covered if the crash is caused by a liquid leaking out of my bike?... some policies NO!!!
    -am I covered if the bike is in process of repair or modification (eg falls
    off the centrestand while replacing a rear tyre)?
    -Am I covered for theft if I forget and leave the key in the bike?

    -Am I covered if a part is stolen off my bike while it is parked? (I am surprised by how many people tell me this happened to them)
    -Am I covered for damage while loading or unloading from a trailer?
    -Is my dual-purpose or adventure bike covered if I am riding off-road
    or on trails? (Isn't that where it is built to go... why isn't it covered?)
    -Am I covered if I go on a poker run or rally?

    Some policies don't cover you for these.
    I am in the industry so I'm not allowed to tell you which policy
    is right for you; but I can tell you which traps people ususally fall into.
    READ CAREFULLY and remember, you're paying good money so you
    WANT a policy which will cover you if/when something goes wrong.
    If it doesn't cover your theft/crash, you might as well have no insurance.
  7. 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.
  8. +1

    ALWAYS read the PDS (product disclosure statement)
    Many things you would assume are covered are not, and never get a market value policy unless the bike is a cheapie and you don't care what you get back in the event of a total loss.

    Also be aware of some agreed value policies, they allow you to set and agreed value, but in the PDS it says the insurer will pay the lesser of the agreed value or market value.
    Cheap policies are usually cheap for a reason, and you rarley find this out until it's too late.