Welcome to Netrider ... Connecting Riders!

Interested in talking motorbikes with a terrific community of riders?
Signup (it's quick and free) to join the discussions and access the full suite of tools and information that Netrider has to offer.

QBE payouts

Discussion in 'Businesses and Service Providers' started by Andyf61, Sep 14, 2007.

  1. Hi new to forums, excuse any unintentional rudeness..

    Had a bad drop a month ago, wrote off a great Yammy xvs 1100. has anyone had experience with QBE paying out??? Was insured at market value, does that mean I'll possibly get $8000 for a bike that cost me $12,000 4 months ago??? I've already copped it from alot of people coz "no-one drops a cruiser", feel free to give me more about that, not too concerned coz I walked away from it...



  2. yes.

    you dropped a cruiser?? :rofl: :p
  3. They'll come back with an amount they deem to be market value, probably a lot less then you feel it's worth.

    When a friend wrote off her Pulsar, and the insurance company offered her SFA, she searched the classifieds to find one fairly close to hers, with a higher price to get a better amount out of them,

    Don't know if this would happen with bikes, but if you get ripped, worth a shot!
  4. Thanks for that. The dealer I bought the bike from said he was willing to put in writing that it would cost at least $11500 to replace plus I've copied similar bikes from online with prices. Just wasn't sure how much of a fight I may have on my hands too. Bottom line is I guess it may be an expensive way to learn to specify agreed value too. They weren't too bad about the riding gear though, not that that means much in the overall scheme of things.
  5. On the contrary, keep a regular eye on http://www.motorcycledisposals.com.au and you'll see that quite a lot of people drop cruisers.

    Not many in at the moment but sometimes it seems like their whole stock consists of lowsided XVS650s and the like.
  6. If they are a decent insurer, they will call you a twit and give you a replacement bike seeing that it is only 4 months old.

    What does their PDS say?
  7. Market value insurance gives you cheaper premiums.

    Agreed value insurance gives you dearer premiums.

    You can't have it both ways :roll:.
  8. Yup,$8000...
    yeah,its a bit like that Paul Kelly song...
    ..we all do it...only a few admit it...
    ...But at least you walked away
  9. Hi Andyf61,
    Like said ^^^^ by others,
    check your policy and the PDS,
    I know some insurers offer to replace new cars that are written off,
    or replace a car that is less than a certain number of months old,
    no idea if it applies to bikes.

    Could try this angle.
    "My bike was only new,
    I think I should get a new one to replace it."

    How I went about geting a value for the write off of my bike,
    I told the assessor,
    "I want enough money from this claim to buy another bike,
    the same as or similar to the one I had"
    After research by myself and the insurance assessor,
    we both looked for bikes of the same or similar years,
    and I got a valuation of $8k on a 1999 CBR900RR.