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QBE vs RACV vs Shannons quotes?

Discussion in 'Businesses and Service Providers' started by randy_rider, Nov 15, 2006.

  1. Hi,
    I'm planning to purchase 99 TRX850, and have got 3 quotes for comp insurance.

    Im 38, rating 1.
    RACV $1113.
    Shannons $861
    QBE $238

    What gives with QBE? This sounds too good to be true. Has anyone had experiences with QBE? What are they like?
  2. I've just got insurance on my postie bike with QBE ($140 full comp) they will beat any price. they also gave and extra discount for being a member of netrider (think it was 5 percent). all you have to do is show them (fax etc.) your cheaper quote and they will beat it. they were very friendly and helpfull when i called.

    i had aami quote $1100 i just had to laugh, that's worth more than the postie. when i was looking for insurance on the R6 RACV wanted $6500 full comp plus it would be $800 excess i told them they are dreaming!

    good luck
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  4. From a simple comparison like this it makes you wonder were the hell they plucked such high prices!

    I would like to know what reasoning and or logic was assummed to have such high pricing?

    Do the offer anything more?

    What is the differance in policy?

    I think SWANN insures through QBE!

    The problem is that I have never had to claim on insurance so I can't say!

  5. Cathar, Cam and I were having the old insurance conversation a couple of weeks ago.
    My bike's insured with Swan, full comp., $8500 agreed, rating 1, for about $630. However, Stew (Cathar) and Cam made an interesting point. Swan and Western QBE are specialist motorcycle insurers but it's really hard to make money out of motorcyle insurance (mostly because we either crash our bikes or other people crash into us, on a some-what regular basis). Sometimes it may be possible to get a cheaper quote from a non-motorcycle specialising insurance company... simply because they don't really care about motorbikes... they're making their money elsewhere.

    Maybe the moral of the story is to shop around a little for quotes to see what you can get?

    Just as a side note: Apparently Swan insurance used to treat their clients like complete crap a few years back. Recently they had a big revamp and changed everything around, requiring that all Swan staff be riders, just as example. My last insured bike was stolen and Swan were great to me!
  6. More than likely it's an underwriting descision that the type of vehicle, age of owner/rider, garaged suburb, or a combination of all those factors, are a risk that the underwriters do not want to take on. The high price is a way of saying "Go away".
  7. is QBE available in Victoria?
  8. Yes. I have my VTR insured with them.
  9. Hi dale,
    Thanks for the Quote!
    Next time I get a High insurance Quote I'll remind the insurer that the are saying that I should "Go Away" and that I am not a valuable customer!

    What a load of crap!
    Its all about Profit! Nothing more!

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  12. Wow, what a difference age and experience make. Both my R1150R and my 900SS are insured with QBE at a combined value of $24,000 for a combined premium of $430........
  13. .........
  14. Nah, they just look at their actuarial tables, look up 'been riding for 40 years', then 'been with us since the old Queen died and never made a 'fault' claim', cross reference 'Knows the road is not a racetrack', moves across to "Is old enough to know he is not an invincible hero type", and comes up with "has statistically about 80% less chance of an accident than a rider under 30.
  15. a

    Oh yeah, that reminds me I used to be involved with and Insurance company (IT) and the underwriters used to heavily load premiums for products (like boats) that were not their core business like home and contents and cars were.
  16. Really 5% ? whats there number?
  17. Yes, and insurance companies know they can make more money by scaring away what they consider to be "bad risks".
  18. I swapped from RACV to QBE which was half the price, Shannons are not even in the race.

    Time will tell if I have to make a claim, in the past RACV have been great to deal with.
  19. also consider Arista, and when you hit 40 their 40+ policy. Competitive and really efficient when you make a claim.
  20. I had the CBR954 insured with RACV as for me they were the best price-wise (just), but the VTR is half the price at QBE than what RACV could do for me.