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Tips to reduce insurance for young riders

Discussion in 'Businesses and Service Providers' at netrider.net.au started by dreamingofaprilia, Oct 18, 2007.

  1. Hello

    I'm planning to get my learners and my first road bike ( aprilia 125 ). I'm 21 years old with car learners. I've had a few quotes done however they all want $2000+ per year for comprehensive insurance. I'm just not in a situation to be able to pay that sort of money, it's what 1/4 of the bike's value.

    Are there any ways/possibilities of reducing this to a somewhat reasonable price? ( less than $1500 )or recommended insurers for young and new riders?

    ps. Some more information if it'll help. Bike would be garaged and in a Good area code( low crime ). Bike would only be ridden few times a week.

  2. Easiest way would be to change the bike you're looking at. Something more common will draw less attention.
  3. Something 4-stroke might be cheaper too since 2-strokes are seriously over-represented in crash stats.
  4. my Spada cost about 220 a year for full comprehensive..with good extras and gear cover included
  5. But if you were younger Drew you would still get a good price on a Spada, but not as good as what you get at 30... at 21 they do tend to come down heavier for both bikes and cars (from my experience anyway)

    The only suggestion I can offer is to ring around as many insurance companies as you can find... from all reports different people have had good news with different companies so i cant even say call ***... my previous insurer who had done me a good deal the previous year, was outquoted this year by QBE and my insurance is now lower than i expected to be able to get... its a pain I know but its all I can recommend...

    Either that or maybe look at a different bike - just ask for a few quotes for something different and see what they say - might be worth considering a few other options, depending on what the insurance companies say...

    Sorry if thats not much help... :cry:
  6. you'll drop it.. i'm telling you,, you'll drop it.. And then you would like to claim it on the insurance.. That's why it is 2000
    How about a second hand bike with just a 3rd party, until you get your p's
    although this seems like less possibilities for accident, it is not, as you need to ride it daily to get used to the bike and become more experienced.

    nrma quote's for 3600 for the 2007 APRILIA RS125. So where ever you got your quote, the excess should be half the price of the bike!!

    Think it this way: Insurance companies make quotes according to past history and statistics. if the insurance is 1/4 of the price of the new bike, their statistics tell them that 1 in 4 drivers of your age with that bike will end up smashing it within the year (ok there is the factor of profit in there, but you get the point)
    So it is not the insurance that is the problem but your choices.. If you can afford buying a bike that 1 in 4 chances you will crash, then you can afford the 2K insurance...
  7. Thanks for all the replies, they are helpful. I didn't really have high hopes much cheaper insurance but I thought it was worth a shot. All I can think of is possibly a advanced rider course and like what has been suggested here, calling around to every single bike insurer that I can.

    My choice of bike is not 100% Final as of yet, but my heart is set on a aprilia so it'll take a good bargain on another bike to sway my purchase.

    Should I consider just theft and CTP insurance rather than comprehensive and just keep a reserve of cash for possible damage/repairs in case of a accident?
  8. that is a bit tricky. If you have an off =, it is very easy for the frame to get fracked and thats goodbye for the lot!! At that instance you will be swearing for not getting comp...
  9. Yeah this is the problem I'm putting a lot of thought into. I suppose the comprehensive insurance is something I'll just have to put up for even if it does really push my budget to it's near-limits.

    I really wish there was a cheaper alternative for younger riders to prove that we aren't all just wreckless speed-freaks.
  10. There is... unfortunately it involves either
    - buying a bike which does not suit reckless speed freaks, or,
    - having a few years in which you do not behave like a reckless speed freak and don't crash.
  11. Problem isn't that you're a reckless speed-freak or not, it's that either way lots of learner riders crash. Fact. At high speed, at low speed, at no speed even, and when you're on a presumably new since you say it's about $8000, expensive, rare, expensive to repair RS125, that adds up. If you want one, don't buy a new one. Get one that's a couple of years old for $5000 and save some money.

    Oh, and only being on your car learners won't be helping your premiums.
  12. I have a cheap arse trail bike for L's and P's (1982 Yami' XT250) and it only has CTP insurance, because I only paid $1300 for the bike, it's current market value was estimated by InsureMyRide as $1100, yet the yearly premium is over $1350. It just isn't worth it. I rarely ride it, and it is usually off road, or on country roads. I am only 17 on P's, so that's why the premium is so high, I guess.
  13. Frankly guys, the only way is to buy cheap bikes you can throw away if you write them off. I did it till I was 25 with cars.
    Buy somethng that will cost what a years comprehensive will cost for a nice bike, put basic CTP on it, and if you ruin it, no big deal. You break even at least.
    That's how the game works. Being a loyal insurance customer doesn't mean shit (no no claim bunuses etc, which they make you pay for with premuims anyway) till you are at least 30, and even then, they'll try and fcuk you over if you aren't careful!

    Regards, Andrew.
  14. Yeah I'll admit I've been considering those ideas too, about buying writeoff bikes. I think I'll compromise and get a older model, or get a second job.

    Either way I appreciate the advice received and hope maybe someday it'll be easier for young riders to get insurance. ( haha now that's dreaming? call me a optimist )
  15. get a parent to register (and own it, technically) and get the insurance under their name... it's what i've done, went from $3,500 to $650 or so for full comp, but the disadvantage is that you don't build a rating that way...
  16. and when you bin it, the insurance co will be reaming you for info and drag it out, and interview your neighbours to find out ways not to pay you ;)
  17. which insurance company are you trying to go with? have you tryed call other insurance companys? which state do you live in? I currently ride a cbr250rr, live in melb & racv have qouted me 300$ 3rd party, 1,500$ full comp, i hear aami is alot cheaper 800$ full comp & there 3rd party comes with theft, which is honestly a must.

    btw i'm riding a grey import, try calling around & most insurance company's are willing to do deals.
  18. Insuremyride have quoted me $250 with $400 excess for the same bike. RACV quoted $150 with $850 excess.

    (both third party) My full comp quotes are ridiculous - $2000-$3000
  19. Agree totally. 21, 30 or 40. The Aprillia is going to be at the top nd of the insurance market. especially if you are on L's or P's, which all insurance companies will ask you about.
  20. most on here got a "cheap ride" for their first.

    unless you're trying to score points with the opposite sex, your "dream bike" can definitely wait.

    if you can't afford the insurance you can't afford to ride, imo.