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To Insure or not to insure (Forked from Stolen Bike)

Discussion in 'General Motorcycling Discussion' at netrider.net.au started by matt232, Jan 14, 2005.

  1. Yep my mate that had his GSX-R1000 pinched probably should have had insurance. I wish he did. In my book this is a case of "He should have had insurance."

    A guy in my appartment block bought a R1 about 6 months ago, in that time he had crashed it 3 times, the lastest was on Sunday. Going too fast saw the round-a-bout too late and went into a tree. The bike is mangled and he got away VERY cheaply with only minor grazing on his right knee even though all he had on was a helmet. More than likely this will be the second major repair job (first two crashes happened on the same day so only one repair there). In my book this is a case of He "shouldn't be allowed to get insurance."

    Same again, my mate from above has been helping his brother out loaning him his commodore while he was riding the bike around. His younger brother wrote off my mates car twice. My mate cops the insurance headaches while his younger bother gets cheap insurance down the track. Again a case where the younger brother "shouldn't be allowed to get insurance."

    Those that deserve the coverage are screwed (sometimes even if they have the coverage) while those that don't deserve the coverage and yet can still get it, screw the rest of us who are less prone to unforsee circumstance. :cry:

  2. Is his name Randy?
  3. :LOL: :applause: :applause: :applause: :applause: :applause: :applause: :applause: :applause:
  4. Why does your mate have the insurance hassle? Isnt the younger brother paying to have it repaired?

    P.S. Good one Pat! :applause:
  5. I have my bike insured (I think the insurance is worth more than the bike...) because I can't afford to replace it should anything happen to it. I DID ensure to get agreed value on it though - been burnt on that last year when a drunken moron wrote off my car when he rear-ended me at 80kph.
  6. i have always owned a motorcycle, and had the gixxer since it was 14 months old (since1998), and I have never had insurance.I've also had the tin top for 2 years and only had full insurance for the first year, then only 3rd party.
  7. Ahh now here is the real question. If you have Comprehensive or not is a personal choice after all its you vehicle.. but there are alot of people out there that dont have 3rd party an if they have an accident cant pay for the property damage that they do.

    If everyone had at least 3rd part I reckon that things would be much better.
  8. if the industry cleaned itself up a bit, I probably would.

    That's in times of affordability. At the moment, there's
    many more things I would rather spend $2000 on.

    As Vic said... after a couple of years, it's equal to a new


  9. What about 3rd party?
    your bike may not be covered except for theft but at least if you damage someone elses property then u r ncovered
  10. i never even had 3rd party any bike I've owned
  11. Seriously, look into it. my bike costs $22/month to insure 3rd party which i count as f/all cost wise and well worth it (i've been quoted 1k/yr comprehensive insurance, not worth it on a 4k bike).

    If you run your bike into a merc and cause $50k in damage to the thing, then you'd be almost certainly taken to court, damages awarded and be up for a lot of money for a looong time. Seriously not worth the risk for what equates to the cost of one reasonably lush lunch out per month;-).
  12. yep, you are absolutely right. It would be responsible to at least get
    that.. ..but again, it comes down to affordability and living within
    ones means. I'm unemployed ATM. So it's out of the question.

    Also, from my last two episodes of getting pharked over by
    insurance companies, I question that there is any guarantee
    about anything. I argue that you could be responsible and
    pay your money only to live in some false expectation that
    you will be covered.

    Insurance is a shifty, shonky industry. As rooked as the rooks
    that they claim to protect us against.

    What was that movie that summed up insurance ?. I
    can't think of the name... it's an Australian movie.
    Fairly recent (4-5 years old).

  13. You are right... and it would be something ridiculous like Missus
    Tunnel Vision (Order of Australia) backing her 1968 Limited
    Edition Jaguar into your GSXR at Woollies.

  14. I can't afford NOT to have 3rd party property insurance. If I cock things up and my bike gets embedded in someone's car/shopfront/greenhouse-full-of-rare-Sumatran-orchids I'll cheerily pay the excess and let the insurer deal with the crap.

    I don't have comprehensive cover, but to be honest I'm reconsidering that decision. For the moment I'm prepared to wear the cost of repairs if I can't keep the thing upright.

    [Edit: Hey, the forum automatically "corrects" foul language! Even fowl language, if you describe a rooster as a cock. What a joke!]
  15. NRMA wanted more than $3000 p.a for insurance on my Ls. Got it from Swan or Classic cars for $1000
    I am officially making an ass of myself today and getting into every thread.
  16. you making an ass of yourself is good. means that i'm not the only one!! ;-)
  17. I hate to say this....
    But I think I agree with the american system you must be insured to be on the road.

    On the toy run one of the riders pulled into the carpark and got a foot caught or something. Although its never lucky to drop a bike (as he did) if he had arrived later and been next to a rather expensive newer bike and as he went down and did some damage the bucks can add up rather quickly.

    I this happened and (lets face it fairing can cost a fortune) say the fairing on a late model bike was damaged and the offender just looks up and says no insurance mate but I can pay you off at $22 a month (price quoted for 3rd party earlier) do you think anyone is going to be happy with that.

    And whats more annoying is when they say "no insurance mate and if you can get some money out of me good luck to ya".

    And as I listen carefully I can hear Dazza saying
    And they are just lowlife wankers that have no respect for anyone...

    But there wouldnt be any Netriders with this attitude as we are all great people aren't we.
  18. I'll agree with 'lurk', if u don't at least have 3rd party insurance u shouldn't b allowed on the road.
    Even after dropping my first bike, a zzr250, in a round-about dodging a car that thought he could go through even as I as about 2 & buying the bike back from QBE after they wrote it off they insured me for 3rd party at least. After all 1 day I'll stuff up & hit something like a Merc or BMW 9 or something as cheap as that.
    shet does happen. :D :shock:
  19. In the NT and SA, a fair slug of your registration fee goes
    towards basic 3rd party insurance. It pays for things
    like the ride in the ambulance and 3rd party injury.

    (Although, this description has been fairly vague
    when i've asked the motor vehicle registation people
    what it pays for)

    So, i guess, in the NT and SA, that is the case. I don't
    know if this is the case in other states.

  20. "My bike is fitted with a Felix W&^@el Rotary Engine"