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VIC Yamaha Motorcycle Insurance

Discussion in 'Politics, Laws, Government & Insurance' started by poppybill, Feb 10, 2016.

  1. Hello everybody my name is Bill and this is my first post on netrider. I am about to take possession of my new XVS 650 classic next week and need to take out insurance. I am wondering if anybody has dealt with or knows what YMA (Yamaha motorcycle insurance) are like as I cannot find any discussion/comment/etc about them. Am really interested to hear from anyone who has had any dealings with them as their insurer.

    • Disagree Disagree x 1
  2. No idea about YMI, but I would recommend getting a quote from QBE to compare
    • Agree Agree x 1
  3. I have YMI for my first bike and havn't had to deal with them so far.
    The only reason i stayed with them was because its about 650 a year for me instead of around a grand for the rest like QBE.
    Just one thing to note down though, whilst it may be cheap they are the only insurer that i know off, that when you buy a brand new bike. Instead of having the 2 years intant swap for a brand new bike if your the first owner YMI is only good for a year.
    So thats probably when you would look at QBE again for better coverage after a year.
  4. I contacted QBE and they wanted well over $1.000 mark, so I went with YMI who gave me 3 years new for old replacement, full comp with extras for $450 even though I am on a learner's permit. Youi insurance were $200 dearer with road side assist and 2 years new for old. As I already am covered by RACV for road side assist I did not need it an could not justify the difference.
    • Like Like x 1
  5. Good on you for shopping around and saving a packet on your insurance!
  6. I find that interesting.

    I recently bought a new Yamaha (~6 months ago) and the YMI quote was drastically higher than QBE.
    In the past I've used both Swann and RACV - for me QBE is working out the cheapest with the best 'configuration'
  7. poppybill, how old are you, just wondering if you fall into the underage bracket.
    BitSar i think that YMI for some odd reason is really cheap for the inexperienced and young people as all the bigger companys like QBE and Swann just dont like us as much haha.
    Im 22 now bought my insurance when i was 21 also have only been on my motorbike Ps for 4 months
  8. This sounds like an Advert
  9. I think YMI is under written by swann
  10. haha im not meaning to sound that way, im just curious if thats the case because everywhere i go its all about high excess for underage and inexperience and higher insurance rates along side.
  11. It was. not sure that is necessarily the case anymore. I got Yamaha Insurance when I bought my Bolt September 2013. Got a letter in the December to say Swann were no longer underwriting Yamaha but that they would continue the cover etc etc

    In reality there aren't really many motor vehicle insurance companies, there are however a lot of on sellers. Swann itself is actually owned by IAG as is NRMA, RACV, Coles, SGIO to name a few. All a little incestuous really.
    • Agree Agree x 1
  12. I am 53 years young and have held a drivers licence since i was 18 but new to road bikes. Vero is the underwriter. On a better note my brand new XVS 650 classic arrived yesterday, woohoo
  13. I'm sure this topic has bee done to death but for me QBE would have been the cheapest, however I went with Swann after comparing their PDS in particular the way they handle 'not at fault' accidents..with QBE you will have to pay excess regardless and only get it refunded if QBE recoup the money from the 'other party', where as Swann wont charge the excess, if you can provide other party details.