Insurance Renewals
+12
Chettlingham
surfacc
2wheelsagain
b12mick
mustang sally
Jimcoleman
Boatz
Kaupy1962
Ewok1958
Reardo
madmax
BanditDave
16 posters
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Insurance Renewals
I am sure most of us have bike insurance and am pretty sure that our premiums vary quite considerably, even for the same model bike.
I was debating bike, car, boat, house insurance with a friend recently and we came up with a couple of ideas to save a little cash.
We all know that insurance companies vary considerably with their premiums.
Lets say you insured your bike last year with your present insurance company.
This year you receive a renewal invitation from the same insurance company, sometimes for the same amount, sometimes a little higher.
It is time to go "insurance shopping"
All companies have 1800/1300 phone numbers or online quotes so all it is going to cost is a little of you time.
The strategy is that you present the new insurance company with your present insurance renewal details and ask if they are interested in making a counter offer.
What have you got to lose?
I will be doing this from now on and will keep you posted.
I was debating bike, car, boat, house insurance with a friend recently and we came up with a couple of ideas to save a little cash.
We all know that insurance companies vary considerably with their premiums.
Lets say you insured your bike last year with your present insurance company.
This year you receive a renewal invitation from the same insurance company, sometimes for the same amount, sometimes a little higher.
It is time to go "insurance shopping"
All companies have 1800/1300 phone numbers or online quotes so all it is going to cost is a little of you time.
The strategy is that you present the new insurance company with your present insurance renewal details and ask if they are interested in making a counter offer.
What have you got to lose?
I will be doing this from now on and will keep you posted.
_________________
BanditDave
Legana, Tasmania
Tasmania, beautiful one day, perfect the next
BanditDave- Posts : 917
Join date : 2011-07-24
Age : 73
Location : Tasmania, beautiful one day, perfect the next!
Re: Insurance Renewals
Yes its always good to play them off against each other for a better price. Just remember its not always about the price. The service you get, if you need it, is what you are paying for.
Talk to others if they have had any claim experience with a their company.
A mate of mine is a panel beater and he tells me some "cheap" insurance companies are absolute pains to deal with. Pushing the price of the repair down generally means taking shortcuts or secondhand parts with the repair.
Talk to others if they have had any claim experience with a their company.
A mate of mine is a panel beater and he tells me some "cheap" insurance companies are absolute pains to deal with. Pushing the price of the repair down generally means taking shortcuts or secondhand parts with the repair.
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madmax- Posts : 4305
Join date : 2011-10-19
Age : 60
Location : Carrum Downs, Victoria
Re: Insurance Renewals
Yeah, I moved to Swann last year with out reading all there "Terms of conditions". After reading it . They use second hand parts once the bike is a couple of years old and they went up by $100 this year too.
So I'm on the move again soon. I shop around every year.
So I'm on the move again soon. I shop around every year.
_________________
2007 Bandit 1250sa Silver
*Open airbox lid with K&N.
*Removed Secondaries.
*HealTech Gear Indicator w/tre "Advanced Timing Retard Eliminator is needed".
*Balanced TB's. My TPS was fine, but you should check yours.
*Arrow race headers with Yoshimura TRS.
*PC3 with the supplied map and these mod got 123hp with 115nm of torque.
*Neville Lush Racing custom tune = 130hp with 125nm at the Tyre (Standard 98hp/108nm).
My youtube channel (clickhere)
Re: Insurance Renewals
Reardo wrote:Yeah, I moved to Swann last year with out reading all there "Terms of conditions". After reading it . They use second hand parts once the bike is a couple of years old and they went up by $100 this year too.
So I'm on the move again soon. I shop around every year.
Argh Shit! that's who I've got my bike with
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madmax- Posts : 4305
Join date : 2011-10-19
Age : 60
Location : Carrum Downs, Victoria
My Bike Insurance
I'm presently insured with New England Insurance Brokers
2009 Bandit - Replacement value or $13200
2005 Honda Shadow - $7000 agreed value
I've never had a claim so cannot offer an opinion on their performance although I have not heard a bad word about them
Annual premium for both - $482
Renewal is due this month.
2009 Bandit - Replacement value or $13200
2005 Honda Shadow - $7000 agreed value
I've never had a claim so cannot offer an opinion on their performance although I have not heard a bad word about them
Annual premium for both - $482
Renewal is due this month.
_________________
BanditDave
Legana, Tasmania
Tasmania, beautiful one day, perfect the next
BanditDave- Posts : 917
Join date : 2011-07-24
Age : 73
Location : Tasmania, beautiful one day, perfect the next!
Re: Insurance Renewals
BanditDave wrote:I'm presently insured with New England Insurance Brokers
2009 Bandit - Replacement value or $13200
2005 Honda Shadow - $7000 agreed value
I've never had a claim so cannot offer an opinion on their performance although I have not heard a bad word about them
Annual premium for both - $482
Renewal is due this month.
That's an awesome price. IIRC mine was $400+ for 1 bike
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madmax- Posts : 4305
Join date : 2011-10-19
Age : 60
Location : Carrum Downs, Victoria
Re: Insurance Renewals
Mine came came during the week - Insure My Ride - $278.42 with $1,000 gear coverage and $1,500 of modifications. Can't remember the bike value but I seem to recall that it was under $10k.
Ewok1958- Posts : 3940
Join date : 2010-08-03
Age : 65
Location : Bega, NSW
Insurance Renewals
Got no Insurance. Don't see the point. I don't intend falling off. If I do I'll repair it rather than let some insurance mob right it off. (The brothers CBR honda is now written off for the second time and there's still nothing wrong with it. If someone runs into me they better have insurance! Or there'll be pain, lots of pain. And their insurance company is gonna write it off anyway and give me stuff all. Insurance is for houses and contents.
Kaupy1962- Posts : 1051
Join date : 2011-06-22
Age : 61
Re: Insurance Renewals
Kaupy1962 wrote:Got no Insurance. Don't see the point. I don't intend falling off. If I do I'll repair it rather than let some insurance mob right it off. (The brothers CBR honda is now written off for the second time and there's still nothing wrong with it. If someone runs into me they better have insurance! Or there'll be pain, lots of pain. And their insurance company is gonna write it off anyway and give me stuff all. Insurance is for houses and contents.
Let me get this right, You don't see the point of insurance and don't have any , but someone who might accidently hit you" better have". WTF.
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2010 GSX1250FA
Maintenance Tip " IT'S NOT RIGHT TILL ALL THE BOLTS ARE TIGHT"
Boatz- Posts : 405
Join date : 2011-03-09
Age : 63
Location : The Gong
Re: Insurance Renewals
I've got no probs with anyone with out insurance, As long as they pay up if they are at fault.
_________________
2007 Bandit 1250sa Silver
*Open airbox lid with K&N.
*Removed Secondaries.
*HealTech Gear Indicator w/tre "Advanced Timing Retard Eliminator is needed".
*Balanced TB's. My TPS was fine, but you should check yours.
*Arrow race headers with Yoshimura TRS.
*PC3 with the supplied map and these mod got 123hp with 115nm of torque.
*Neville Lush Racing custom tune = 130hp with 125nm at the Tyre (Standard 98hp/108nm).
My youtube channel (clickhere)
Re: Insurance Renewals
Kaupy1962 wrote:Got no Insurance. Don't see the point. I don't intend falling off. If I do I'll repair it rather than let some insurance mob right it off. (The brothers CBR honda is now written off for the second time and there's still nothing wrong with it. If someone runs into me they better have insurance! Or there'll be pain, lots of pain. And their insurance company is gonna write it off anyway and give me stuff all. Insurance is for houses and contents.
thats a rather interesting concept, but what happens when you hit someone, you want to hope that the guy driving the $230,000 benz says its ok Kaupy its only a scratch it will polish out and i've got a spare headlight oh look i'm a good bloke how bout we go our separate ways oh are you ok did i tear your pants when you hit me, look here is $300 buy a new pair. yeah right !
i hear you say i won't hit any one or fall off, well accidents are called accidents for that very reason there accidents, thats why there not called on purposes
Jimcoleman- Posts : 1179
Join date : 2011-08-03
Age : 55
Location : Merimbula , NSW
Re: Insurance Renewals
Jimcoleman wrote:Kaupy1962 wrote:Got no Insurance. Don't see the point. I don't intend falling off. If I do I'll repair it rather than let some insurance mob right it off. (The brothers CBR honda is now written off for the second time and there's still nothing wrong with it. If someone runs into me they better have insurance! Or there'll be pain, lots of pain. And their insurance company is gonna write it off anyway and give me stuff all. Insurance is for houses and contents.
thats a rather interesting concept, but what happens when you hit someone, you want to hope that the guy driving the $230,000 benz says its ok Kaupy its only a scratch it will polish out and i've got a spare headlight oh look i'm a good bloke how bout we go our separate ways oh are you ok did i tear your pants when you hit me, look here is $300 buy a new pair. yeah right !
i hear you say i won't hit any one or fall off, well accidents are called accidents for that very reason there accidents, thats why there not called on purposes
Couldn't have said it better myself!
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madmax- Posts : 4305
Join date : 2011-10-19
Age : 60
Location : Carrum Downs, Victoria
Re: Insurance Renewals
It's called seat of the pants riding. I ride to ride and enjoy it. Rego is already far too expensive without the cost of added insurance.
Kaupy1962- Posts : 1051
Join date : 2011-06-22
Age : 61
Re: Insurance Renewals
This the same arguement why some parents won't immunise their children. I'm not going to for whatever reason, but I am going to rely on everyone doing it.madmax wrote:Jimcoleman wrote:Kaupy1962 wrote:Got no Insurance. Don't see the point. I don't intend falling off. If I do I'll repair it rather than let some insurance mob right it off. (The brothers CBR honda is now written off for the second time and there's still nothing wrong with it. If someone runs into me they better have insurance! Or there'll be pain, lots of pain. And their insurance company is gonna write it off anyway and give me stuff all. Insurance is for houses and contents.
thats a rather interesting concept, but what happens when you hit someone, you want to hope that the guy driving the $230,000 benz says its ok Kaupy its only a scratch it will polish out and i've got a spare headlight oh look i'm a good bloke how bout we go our separate ways oh are you ok did i tear your pants when you hit me, look here is $300 buy a new pair. yeah right !
i hear you say i won't hit any one or fall off, well accidents are called accidents for that very reason there accidents, thats why there not called on purposes
Couldn't have said it better myself!
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2010 GSF1250SA
Staintune Pipe
Banditmania Pan/Hugger
Zero G DB Screen
mustang sally- Posts : 95
Join date : 2011-02-28
Age : 53
Location : Adelaide
Re: Insurance Renewals
Bike, car and house/contents insurance I rarely shop around for. I've been with WQBE for 8 years, CGU (house/contents) for more years than I can remember and my wife has been with AAMI for her car(s) for close to 7 years. Health insurance is the same. When I do talk to insurance salesman about health insurance they usually stop talking to me when I tell them I'm with Defence Health.
CTP on the other hand, that's a yearly shop around. Just one word of warning though, beware of the on-line brokers. My wife used one of those (the name escapes me) and when she went to make a claim against her CTP it turns out the broker had gone in to administration and hadn't paid the insurance companies for 2 or 3 months. Much searching of bank statments ensued and she proved we had paid the money and at all worked out in the end.
As for people who don't have insurance, if you run into me you'll be dealing with my insurance company, have fun with that.
CTP on the other hand, that's a yearly shop around. Just one word of warning though, beware of the on-line brokers. My wife used one of those (the name escapes me) and when she went to make a claim against her CTP it turns out the broker had gone in to administration and hadn't paid the insurance companies for 2 or 3 months. Much searching of bank statments ensued and she proved we had paid the money and at all worked out in the end.
As for people who don't have insurance, if you run into me you'll be dealing with my insurance company, have fun with that.
b12mick- Posts : 908
Join date : 2009-10-08
Age : 58
Location : Wagga
Re: Insurance Renewals
b12mick wrote:
As for people who don't have insurance, if you run into me you'll be dealing with my insurance company, have fun with that.
For most of us over 40 with a good record our Bandits are a smidge over $200 to comprehensively insure with reasonable agreed value. (NRMA/RACV)
That's pretty cheap for a good nights sleep.
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Re: Insurance Renewals
My comprehensive is due on 7th April. Swann want $430, RACV $279.
Pretty easy to figure out who is getting the business.
Pretty easy to figure out who is getting the business.
surfacc- Posts : 51
Join date : 2010-04-15
Age : 63
Location : Edithvale, Victoria
Re: Insurance Renewals
Last time I checked, for me, NRMA was more expensive (WQBE $310 - NRMA - $450) and WQBE offers life time rating one, NRMA didn't.
b12mick- Posts : 908
Join date : 2009-10-08
Age : 58
Location : Wagga
Re: Insurance Renewals
Sorry to dig up an old thread but the prices mentioned seem way below what I was quoted just recently.
As some of you might know I've not had a bike for 10 years and then recently bought a 1250s. Full comprehensive through Suncorp is about $700/yr, I paid it as as I have all my other insurance through them.
Did I get ripped off...?
As some of you might know I've not had a bike for 10 years and then recently bought a 1250s. Full comprehensive through Suncorp is about $700/yr, I paid it as as I have all my other insurance through them.
Did I get ripped off...?
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'08 GSF 1250s
Yoshi R77
K&N with airbox mod
Power Commander V
Secondary Butterflies modified with Woolich software
Custom dyno tune
Chettlingham- Posts : 58
Join date : 2015-04-09
Age : 40
Re: Insurance Renewals
I`m with Suncorp, and I pay $400 and something. I don`t know the exact amount.
But it is a 12yr old bike now, so I think its time to start shopping around.
As for red book, they`ll all, give me nothing, unless I find someone to give me agreed, but then they`ll sting me anyway.
But it is a 12yr old bike now, so I think its time to start shopping around.
As for red book, they`ll all, give me nothing, unless I find someone to give me agreed, but then they`ll sting me anyway.
mtbeerwah- Posts : 1787
Join date : 2010-02-20
Location : Brisbane
Re: Insurance Renewals
Swan was $381 for $7867 cover on a 2010 1250s with helmet cover
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paul- Posts : 7738
Join date : 2011-08-19
Age : 71
Location : Morphett Vale Sth. Aust.
Re: Insurance Renewals
That is the other funny thing, I paid $6100 for the bike, on the road and with 6 months rego. The lowest price I could insure it for was about $6400 through Suncorp.
My Nissan X-trail on the other hand even the highest amount is lower than I would expect to pay... maybe I over value the old girl...
My Nissan X-trail on the other hand even the highest amount is lower than I would expect to pay... maybe I over value the old girl...
_________________
'08 GSF 1250s
Yoshi R77
K&N with airbox mod
Power Commander V
Secondary Butterflies modified with Woolich software
Custom dyno tune
Chettlingham- Posts : 58
Join date : 2015-04-09
Age : 40
Re: Insurance Renewals
x 2madmax wrote:Jimcoleman wrote:Kaupy1962 wrote:Got no Insurance. Don't see the point. I don't intend falling off. If I do I'll repair it rather than let some insurance mob right it off. (The brothers CBR honda is now written off for the second time and there's still nothing wrong with it. If someone runs into me they better have insurance! Or there'll be pain, lots of pain. And their insurance company is gonna write it off anyway and give me stuff all. Insurance is for houses and contents.
thats a rather interesting concept, but what happens when you hit someone, you want to hope that the guy driving the $230,000 benz says its ok Kaupy its only a scratch it will polish out and i've got a spare headlight oh look i'm a good bloke how bout we go our separate ways oh are you ok did i tear your pants when you hit me, look here is $300 buy a new pair. yeah right !
i hear you say i won't hit any one or fall off, well accidents are called accidents for that very reason there accidents, thats why there not called on purposes
Couldn't have said it better myself!
Re: Insurance Renewals
Youi was $358 last month (full comp) with $1000 per claim for gear. That's pretty low for the gear but you can adjust it up or down and the premium then changes in line with the adjustment. It all comes down to risk I guess.
Ewok1958- Posts : 3940
Join date : 2010-08-03
Age : 65
Location : Bega, NSW
Re: Insurance Renewals
I'm with Kaupy on this. 3rd party Property is all I have,beyond CTP If I dump the bike, I'll just wear it, but I'm not having anyone try to take my house off me because I bent their Pride and Joy or Status Symbol.
I also hear too many stories of people who get a total loss assessment on a claim, when the bike is not badly damaged, perfectly fixable and the settlement is far lower than what it should be, the insurance company owns and takes the bike and they are then forced to go shopping with a deficit. It's a crook industry. Over the years, I could have bought at least 2 bikes with what I have not spent on insurance.
I also hear too many stories of people who get a total loss assessment on a claim, when the bike is not badly damaged, perfectly fixable and the settlement is far lower than what it should be, the insurance company owns and takes the bike and they are then forced to go shopping with a deficit. It's a crook industry. Over the years, I could have bought at least 2 bikes with what I have not spent on insurance.
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jstava- Posts : 204
Join date : 2013-04-01
Age : 72
Location : Tocumwal, NSW
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