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.

(Speed Triple / litre bike) comp insurance costs? Waddyapay?

Discussion in 'Businesses and Service Providers' started by jekyll, Jul 24, 2007.

  1. Hi,

    As part of the planning game, I put a quick quote together on insuremyride.com.au for comprehensive on a 2005 Triumph Street Triple.

    I assumed I'd move to somewhere with a garage, be 29, have an alarm fitted and still be living in the inner west of Sydney (which doesn't help).

    It came up with about $2,000.

    WTF? That's about equivalent to a bike every five years!

    Can someone offer some good news? I tried "making myself older" and a range of other things but nothing seemed to make it much better.

    For that matter running the same on a daytona 675 didn't seem to make an appreciable difference.

    Is this just to scare you into shopping around, or are we actually expected to pay this much?

    What do you pay? Or do you skip insurance altogether ...

    What affects the premium? Do mid-displacements have it any better? Any advice?

    I'm thinking of theft-only now ...

  2. did that take into account your no claim or don't you have one?

    my vtr1000f cost me roughly $780 a year for full comp, under 25 unlimited k's, garaged, also all gear is covered
  3. hmm, don't have one :/
  4. yeah, you might be screwed unfortunately
  5. Im 26, live in melbourne suburbs and have 1yr riding experience. The ZX10 cost me $1098 to insure full comp. No gear cover, factory immobiliser, limited kms. Rating one.

    I actually increased my premium to $750 instead of $400 which helped a fair bit. My initial quote through another company was $2800 so I was pretty happy with insuremyrides price.

    How can you have no rating?? Youre 28? Have you never driven a car or never had insurance before??
  6. by having crashes and making claims, before recieving a rating 1 for life would be my guess
  7. Well get one,

    NRMA and AAMI give them out like candy.

    Take out a policy, get a 65% NCD, cancel policy, get insurance with insuremyride and BINGO, cheaper premium.

    technically you had a 65% NCD, so if they do a check with previous insurer, it will show up and you will be sweet at claim time. :grin:

    either way, your only ripping off one company, because all of the decent motorcycle insurers are all owned by the same parent company.

  8. BMW R1100RT, 2000, value $11,200+ (Red Book), 40 y.o with 1 point and full No Claims, living in Perth Hills, bike garaged. Fully comp. $240 a year with QBE.
  9. age: 28
    sex: sometimes :p
    bike: sportsbike
    NCB: 0
    Driving History: 3.5 pages
    Company: Swann
    Premium: $864 (or close to that)

    here, ill put answers to MG's list.
    * Age of bike 2.6yrs
    * Age of rider 28
    * Driving/riding experience 11.5yrs
    * Suburb Mogo, NSW
    * Garaged or not Garaged
    * Security Code7 twice a night, LUG
    * Market/Agreed Market (i think)
    * Finance Yes
    * Mods/Acc Nothing substantial
    * NCB/Insurance history Nil, Company Car Clause
    * Offences history 3.5 pages, not pretty
    * Claims history Nil
    * Business/Private use Private
    * Sports/cruiser Sports - cruiser, not a chance of insurance.
    * Cost of parts Honda ->average
    * Optional cover Full Comp, no gear.
    * Engine size 998
  10. Hmm. I have my spada insured with AAMI as of this year - it's my first motor vehicle. Maybe that'll help with the NCB.

    I definitely saw theft-only as an option with insuremyride. It was only $400 or something, i swear.

    Thanks for the input guys. I'm not leaving the inner city any time real soon, and it looks to me like it has one of the biggest impacts on my policy.

    Seems to me at this point there's not gonna be much difference in insurance between an '08 Street Triple and an '05 Speed Triple, so that's one factor I can pretty much eliminate from the decision.

  11. Hmm. Insuremyride.com.au uses a reskinned version of Shannon's web quote application. Are they owned by Shannon's ?
  12. Parent company is AAI for both.
  13. My R1 is $1750 per annum. RACV

    - I have full rating 1.
    - Bike is covered for two years at full replacement value in a write off. Not market value like other insurance companies where you will get ass reamed in a claim!!
    - Includes full road side assistance and recovery (unlimited use)
    - hire car for two weeks if you lose your bike or it is stolen
    - Overnight accomodation covered for up to a week if riding interstate
    - full covereage of bike recovery fees if its laid up more than 100km from home address.
    - No access to pay on the claim

    Have used this policy on an old bike before and got exceptional service. Bike was fully recoverd and got my payout within 2 weeks :grin:
    Plus they carried over my premium balance to the new policy.
  14. MG, It's good to see someone that knows the in-sewer-ants game, and helping out our fellow NR, but your post bugs me cos you contradict yourself.

    Derr.. It's a Theft only policy. There's nothing stopping him take up a Full Comp or Third party property policy if he wants liability cover.

    So it's ok for you cos it's a THEFT ONLY policy??? mmm interesting, so it is usefull then.

    Is that why they say it's a Market Value policy???

    I'm guessing you work for a Ins Co?? I'm a Financial Advisor, so I know about giving advice in the fin industry.
    I think you should probably compare apples with apples, and not an apple with a Banana.
  15. I've been paying just under $600 a year for the Speed Triple since buying (almost) new in '99. That's with RACV (don't know if they operate in the north...). They were the ONLY company that would give me a rating one, despite more than 10 years without a claim on my car insurance, and none on a bike. All the others wanted to put me on rating three or four, because I was "new" to them. They could go and enjoy themselves :evil:
    MG is largely correct, but I would suggest claims history is maybe the most important - or more accurately, how long you have had insurance without a claim. They treat lack of insurance history the same as if you have claimed, in my personal experience. Get your rating down and it gets much cheaper.
  16. Blah, blah, blah, blah. :jerk:

    I suggest you read his post, your post & my post.

    As far as not having an idea of what I'm on about. It's clear that you know 4/5th's of F_ck all of what your on about.
    1. He could get 2 policies, 1 for theft & 1 for Third party if he wanted liability cover.
    2. All ins co's offer installments as a method of payment for Comp, so may be able to afford it that way.
    3. If someone is not worried about damaging their bike, then Theft only could be useful. ie dirt bikes, scooters, shitboxes etc. Therefore you can still use your bike, it's just not covered for an accident. But would be covered if stolen from your driveway, in front of the shops, or where ever.
    4. I don't give FA advise over the web, that was my point. so maybe you should be careful with what you say. Make sure it's only your opinion & not advice.
    5. I never told anyone to buy their policy, maybe you should re-read the posts slowly.. twice..

    Thanks for opinions MG, but you are not comparing apples with apples.
    so it is a contradiction.