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Newbie insurance questions..

Discussion in 'New Riders and Riding Tips' at netrider.net.au started by Teamsherman, May 22, 2011.

  1. Hi guys,

    As ive never owned a road registered bike before, i have no idea what is best for insurance purposes. I have a car and think without doubt that full comprehensive is the best option for me, only cause i know that some repair jobs can run into the thousands after accidents. Im under the impression that once i get a bike (Between 4 and 5k worth) that repairs after a crash would be about 1k at the least.

    I know the minimum i would get for my bike would be 3rd party fire and theft as my brother had his motorbike pinched which i thought wasnt really a high interest item (GPX250 about 2005 model stolen last year).

    What do you guys recommend for a newbie to buy, im most like going to be buying a VTR 250 between 2004 and 2006 model?

    I was going to ask what full comprehensive would cost but its like asking how long is a piece of string so i'll google that one!! lol


  2. full comp. shop around as some companies are expensive for new riders. my son was in your position and insured with swann through the dealer for a fair bit cheaper than we could find on line.
  3. $1000 would only cover my fairing after a crash that dont include the stickers....

    so id go for full comp if i was you
  4. Full comp is almost a given for a bike because of the potential for significant damage just from putting a sports bike on it's side as the dollars can start to rack up with panels, paint, graphics, bars, levers etc and that's just from what could be seen as cosmetic.

    Then there's the worst case scenario which we won't mention because I'd rather not be the jinx.

    Short story, pay the cash for fully comp as I can tell you from both the good and bad that it's worth the money.
  5. Just bend over and beg for some spit like we all do son
  6. if you're financing the bike full comp is compulsory.
    first bike... yep, grab your ankles bite down hard on something, do us proud
  7. Done a few quotes and have all come in at about $400. I havent tried the mob i have my car and home insurance with yet so maybe they will be cheaper yet.

    $400 isnt bad at all i dont think so if its close to that or cheaper i'll be happy!
  8. lol !!

    on topic, im on comp insurance with Swann for $645/Annual

    Im 26, full car license with less than 5 years and Learner bike license. Covers 7k and $500 worth of personal items.

    Pretty good imo. QBE quoted $800 + and dont even ask AAMI or NRMA as you would need more than spit when they rear end you.

    Go Comprehensive, it will be worth it in the long run.

    Good luck Alan :D
  9. Hi there,

    im on full comp with swann (discounted through dealer) $750/annual.

    under 25, full car license, learner bike license, brand new 2011 honda cbr250r cover $6k + (dono how much personal items)

    goodluck and happy riding :D
  10. Hi guys,

    I went and had a chat to my car and home contents insurer about bike insurance, and i have taken a full comprehensive policy with them for the pricely sum of $265 a year.

    About $10 a fortnight taken out of my pay. Not bad ay?
  11. not shabby at all!
  12. I was getting some quotes for the bike I'm thinking of buying next, "dealer discount" turned out to be significantly more money per year. Worked out to be around $1700 instead of closer to $900. Same insurance company as well.
  13. I would suggest keeping an eye on the excess's from them

    Insure my ride will ping you an EXTRA $1500 for inexperienced rider to a total of $1900

    For my new CBR250R 2011 My dealer offered me a quote with Honda / Swann insurance.

    Came in at about $10 more than insure my rides quote ($456 with swann)

    thats including gear cover, 100% usage, and an extra $30 for helmet cover up to $500

    And no extra payments for pay by month.
  14. Macca beat me to it.

    Just make sure the excess is sensible. Although I think in their PDS IMR charge a maximum of a $1500 excess - they don't add up past that.
  15. My excess is $400, but the inexperienced driver (which i am) is another $350. So i'll have to weigh up how much damage is done in the event of something happening to see if its worth a claim.

    That only being an option if im the only vehicle in the accident.
  16. I've only got fire and theft on mine (in addition to compulsory). Full comp was unrealistically expensive in my opinion, premium of ~$1200 + nearly $2000 in excess (less than 1 year riding) means if I had to make a claim I would have paid as much as the bike cost me...

    Edit: Anyone else in Sydney and <25? I think it's ridiculous that I should have to pay over a third the cost of the bike before even counting the premium.
  17. I think a lot of it depends on how old you are, or how long you've been driving a car, for example. I was a brand new rider, but my bike insurance ended up being very reasonable b/c they took my years of cage driving into account. Not all insurance companies did this, so some quotes were more than twice as much.

    Shop around, obviously.
  18. Oh well I'm going overseas for 3 months at the end of August so no point taking out a policy for now. By the time I'm riding again I'll be past that 1 year mark so the excess won't be so atrocious.
  19. When shopping for insurance for my bike I was quoted over $3k for a $3.5k bike plus the "standard" $1k or so excess for being an inexperienced rider.

    22 year old, rating 2 in the car, no fines, charges or claims ever...

    Needless to say I only got 3rd Party Fire and Theft for $200 with AAMI (shockingly the cheapest quote of the day)

    Now I am counting down the days to Rating One (some insurers offered to carry this over from the car to the bike), a full bike licence and a tax return large enough to buy a new bike (or a hefty deposit on dream bike) which all should conveniently happen within weeks of each other.