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Not another insurance thread ?!

Discussion in 'General Motorcycling Discussion' started by Euphoriic, Mar 14, 2009.

  1. Sorry for making you guys get sick of these threads but searching through the amount of pages is hard and most of them are outdated.

    Well on topic .. I'm 19 years old turning 20 this year.
    Going to get my first bike, a 1989 CBR250R.
    The bike will be parked inside locked garage most nights.
    Occasionally might ride it to work and school, parking it outside with a lot of people walking past.

    I've been checking out a couple online quotes and I am definitely going to get Third Party

    The thing is I was also getting a bit paranoid and was thinking if I should go for fire and theft as well.
    Is there any insurance companies that combines Third party, theft and fire altogether into a neat package?
    Is it worth getting fire and theft?

    Third Party:
    Insuremyride: $205~
    RACV: $185~
  2. recently been through this myself, not sure about insurance companies doing a 3rd party, fire and theft.. I'm sure some would though... shop around.

    If your paranoid about fire and theft.. does that mean you cant afford to loose the bike ? I think the chances are greater of you stacking it than it being stolen...

    So if you can afford it get comprehensive that would make a lot more sense.

    I'm your age.. live in your city... kinda.. I rang literally every company I could find that would insure me and found Aami to be the cheapest by heaps (less than a quarter what some quoted me).. so make sure you get them to quote you...

    I'm in the middle of a claim with them (wrote the bike off.. see my thread in the new riders section) and so far they have been great.

    good luck with what ever you decide.. ride safe..

    In most motorcycle accidents, your bike is severely damaged, and the other vehicle is damaged very little or not at all. (leaving 3rd party pretty useless anyways)

    Look around at some of the threads on here, most insurance claims are made from bike thefts or from single vehicle bike accidents (you'd need full comprehensive for cover in that case)

    IMO you'd be a fool not to get 3rd party fire and theft. Its normally only about $30 to $50 extra per annum. Nearly all insurance companies offer this. RACV definitely does. I recommend going with an onshore company too, like RACV. Insure my ride may be cheap, but i believe (i may be wrong) that they are underwritten by an overseas agent and this may cause issues if/when you have to make a claim.

    +1 for AAMI, i have full comp with my bike, very cheap and good with claims

    Just a curious question, why are you buying a 20 year old cibby arrrrrrrrrrrr for similar money you could get a much newer similar powered 250 for?
  4. I'm with ebikeinsurance at the moment(changing over in 2 weeks). I was with ebikeinsurance for a year 8months on the cbr250rr and the rest of the policy on my R6. For the cbr it cost me $1300 comprehensive and when I changed over I had to pay another $300 and move down to third party fire and theft. Now my renewal with 1no claim discount they're asking me for $1800. I'm thinking it's too expensive for third party fire and theft. My bike is locked in a garage and I use it daily to get to uni and work as well.

    I looked in to insuremyride as well. The only thing is I'm looking at both third party fire and theft. I'm not sure weather I can get both third party and theft.
  5. P.S - as a p-plater on a LAMS bike, i pay $592 per annum for Full comprehensive insurance for agreed value $9,000 with my brand new DRZ400SM with AAMI. You guys are getting ripped off harcore. Shop around. AAMI seem to be the cheapest when it comes to bikes.
  6. Wtf?! Maybe your bike is a 'low risk' category?
  7. Also, if the cbr things just for speed, theres plenty of LAMS bikes that whip its ass now. More torque, earlier.
  8. dunno mate, call AAMI and ask for a quote on your bike, can't hurt. Lines are open late so u can call them right now if you want. My bro had a GS500F and got around the same price too
  9. Insure my ride do third party fire and theft. It is just called 'Theft' cover.
    It is the last option in the coverage drop down box.
  10. @nathanshnoz
    Well how much will I be looking at the new models ?

    Yes I know they have two options, I wanted to know if any insurance had it combined together instead of getting it separately.

    As for insurance with aami, can I do an online quote with them because I can't seem to find the link to them for motorcycle insurance.
  11. nope pick up the phone ! ...and call them and ask for a quote
  12. You'll have to provide history, storage suburb/type, etc. Just call em. :p
  13. oh, and if you call back on different days and get cheaper quotes, grab a quote number, has happened to me all the time :p
  14. Ooh .. Guess I'll have to call them tomorrow.

    I called AAMI up just then and I asked what options they had and they only said Comprehensive and Third Party .. I then asked them if they had Third Part, Fire and Theft and they said yes ..
    You reckon they left it out or what ?

    I guess I'll call AAMI, RACV and Suncorp and see the last two if they have the combined Third Party, Fire and Theft.
  15. What do you think people would bin more often, and what would be easier to damage?

    Not too sure about what that guy said about most bikes being totalled after an accident. Check out the auctions to see what gets written off. Sometimes It's really trivial stuff.
  16. Depends on which models you want to look at mate, so it's hard to say. What are you buying the old cibby for? What made you want to buy that specific model? Speed? Acceleration? 'Cool' factor? It really all depends. I wasn't referring to the newer CBRRRRRRR's so much as i was other sporty 250cc or LAMS bikes that you could get a much later model, if not brand spankin' new model, for the same or very similar money as the old cibby will cost you.

    Not sure on new model prices atm so you would need to consult a dealer or ask people on here who ride similar bikes.
  17. I'm with e-bike, no issues.
    any grade of cover you want.

    Sweeris, the renewal notice is an auto computer thing, in the hope you'll
    just pay it, give 'em a call and they will reduce it heaps.
  18. Well I had an at fault claim on Valentines day this year, the bike was written off. I purchased a another Grey Import, CB250F Hornet, and discovered that Swann no longer insure grey imports.
    I called QBE, and gave them a copy of my very colourful driving history, told them of the claim that occurred 2 weeks earlier and a copy of my car insurance which is rating 1 for life.
    They insured me full comp for 10 bux less than I was paying with swann on the old bike, also full comp.
    How does 227 bux a year sound! WOOT and I am only 33.

  19. haha.. yer I called suncorp first.. I bank with them so it made sense.. let us know if they were competitive or not for you... haha.. I nearly fell to the ground laughing when they quoted me a over 5 grand premium for my bike haha.. only paid 7.5k for it !.. lol.. and market value is 6.5k...
  20. I called the 3 companies just then, AAMI and RACV only had 2 options:
    Comprehensive and Third Party only.
    And both their quotes were over $1,000

    Called Suncorp last and they quoted me for Third Party, Fire and Theft for only $385~ with market value of $4,500.

    Well no guess to who I'm going to call :shock: