What do you think of this regarding insurance?

[JimO]

my boys vtr 250 is insured with state and i called them today regarding a ammendment to the policy they said that if i was thinking of buying a bigger bike for them that their underwriter wouldnt insure anybody under 25 on a bike bigger that 400cc. the only reason the bike is with state is that i have several other policys with them and it was easier to add another.

[onearmedbandit]

Not a great situation but then they can decide who and who not they will insure.

[Mully]

State suck for motorbike insurance - we had everything with them and they weren't that interested in offering insurance. Was easier (and much cheaper) to go to Kiwibike for the RF.

[SMOKEU]

State suck for motorbike insurance - we had everything with them and they weren't that interested in offering insurance. Was easier (and much cheaper) to go to Kiwibike for the RF.

Kiwibike was the most expensive insurance company I got a quote from for my CBR. NAC is the cheapest as usual.

[Mully]

Kiwibike was the most expensive insurance company I got a quote from for my CBR. NAC is the cheapest as usual.

Really??

Wait, how old are you? and what licence do you have?

[p.dath]

Kiwibike was the most expensive insurance company I got a quote from for my CBR. NAC is the cheapest as usual.

Usually if insurance costs more there is a reason. Ask them what there pay our ratio is for claims. If they wont tell you then it is a bad sign. Good insurance companies like to mention this statistic. I like insurance companies that pay out at least 99% of claims.

[p.dath]

my boys vtr 250 is insured with state and i called them today regarding a ammendment to the policy they said that if i was thinking of buying a bigger bike for them that their underwriter wouldnt insure anybody under 25 on a bike bigger that 400cc. the only reason the bike is with state is that i have several other policys with them and it was easier to add another.

A lot of insurers underwrite part of their book with someone bigger. As a result, they have specific risk profiles. Hence the refusal to offer insurance outside of that profile.

[YellowDog]

Kiwibike was the most expensive insurance company I got a quote from for my CBR. NAC is the cheapest as usual.
Yep, I didn't like State. They were more than twice the price of the others and were trying to close the deal with me.

I got the best price from NAC and I guess they are best for the older riders.

It is tough for under 25s, which is funny because I have met some really crap middle-aged riders and some really good <25 year old riders.

[onearmedbandit]

State were great when they paid out on my motorcycle gear after my crash under contents insurance. Encouraged me to claim for my boots and gloves, didn't require independent apprasial, and I got my money within a week.

[Ragingrob]

Kiwibike was the most expensive insurance company I got a quote from for my CBR. NAC is the cheapest as usual.

But Kiwibike is just an insurance broker? Finding the best deal outta several insurance companies.

I was with state on my cbr250, it was the cheapest by far, and then ran into the same problem as the threadstarter, went to Kiwibike and am now with NAC through Kiwibike sorting the deal.

[CookMySock]

Not a great situation but then they can decide who and who not they will insure.Not once they have already agreed to cover you and you pay the money - you have a written contract.

ie, 20 year old buys policy - company writes random letter to him saying anyone under 25 not covered - I do not think so!

If they didnt want the fucking business they shouldnt have taken his fucking money.

Insurance companies are a rip..

Steve

[Str8 Jacket]

Not once they have already agreed to cover you and you pay the money - you have a written contract.

ie, 20 year old buys policy - company writes random letter to him saying anyone under 25 not covered - I do not think so!

If they didnt want the fucking business they shouldnt have taken his fucking money.

Insurance companies are a rip..

Steve

Did you actually read the OP?

[sleeqe2000]

I had much the same experience with State - they quoted around 300 bucks more than what everyone else quoted me when I moved up to my SV - they don't want the business basically - I stuck with NAC.....

[CookMySock]

Did you actually read the OP?Uh huh. Would you like me to summarise it fully for you?

Steve

[Ragingrob]

Uh huh. Would you like me to summarise it fully for you?

Steve

You're an idiot.

He has a policy on a 250, they are fine with under 25's on bikes under 400cc. He now wants to upgrade his bike, which means a new contract, which means they don't have to insure him.

Is that the summary you were about to give?

:no:

[davebullet]

Uh huh. Would you like me to summarise it fully for you?

Steve


I think the OP said his under 25 is covered for the currently insured VTR250. The OP enquired with State about upgrading to a 400 and State said - the under 25 would not be covered.

I don't think State is reneging on cover for the VTR250 - they are just saying they won't insure the same rider on a bigger bike unless he is over 25.

Insurance companies do need to get smarter however about understanding how valuable and how risky customers are.

jimjim - I am trying to do my best to make my company aware of customer loyalty and understand customer relationships. It's about profiling risk on customers as well as the items they insure. It's hard to change old companies, but I am trying!

PS: I am insured with State for the SV650 and the standard excess jumped quite a bit over the VTR250. This is because Suzukis have a higher theft record than Hondas. The premium however wasn't much more. This illustrates the point... that insurers need to be more targetted. Not ALL suzukis are more thievable than ALL hondas. I would bet my SV650 is less of a theft target than a Repsol replica CBR1000RR or some such.

[Reckless]

My son just insured his Vtr 250 and NAC where the best price. Actually gave a better price by goin direct than Kiwibike quoted from them?? But I read their policy that came and it has a heck of a lot of out clauses in it for them so beware.

[Oscar]

Yep, I didn't like State. They were more than twice the price of the others and were trying to close the deal with me.

I got the best price from NAC and I guess they are best for the older riders.

It is tough for under 25s, which is funny because I have met some really crap middle-aged riders and some really good <25 year old riders.

Classic Cover specialise in older/more experienced riders.
Their underwriting criteria is more sophisticated than the likes of State, and looks at experience as well as age (they won't insure under 30's).

State use an old underwriting model that fixates on age and engine size.

[nallac]

You're an idiot.

He has a policy on a 250, they are fine with under 25's on bikes under 400cc. He now wants to upgrade his bike, which means a new contract, which means they don't have to insure him.

Is that the summary you were about to give?

:no:

Thats pretty much how i read it..

[Indiana_Jones]

At least State insure people under 25 on 400's

AMI told me to get fucked when I got the 600 as I was under 25.

-Indy

[Str8 Jacket]

Uh huh. Would you like me to summarise it fully for you?

Steve

Actually I can read quite well thank you.


You're an idiot.

He has a policy on a 250, they are fine with under 25's on bikes under 400cc. He now wants to upgrade his bike, which means a new contract, which means they don't have to insure him.

Is that the summary you were about to give?

:no:


Thats pretty much how i read it..

Maybe he is going to take it International, Mr Whippy styles?! :yeah:

[Ragingrob]

At least State insure people under 25 on 400's

AMI told me to get fucked when I got the 600 as I was under 25.

-Indy

Do they though? Last year State told me to get fucked with my vfr400...

[Ragingrob]

Thats pretty much how i read it..

Yep, maybe DB needs help.

[crazyhorse]

I know of a number of insurance companies whom will not insure under 25 year olds, or under 250cc bikes - so its a no-win situation :done:

[Indiana_Jones]

Do they though? Last year State told me to get fucked with my vfr400...

Well I'm going off what was said in the 1st post.

But most of the big players don't want to insure anything over 250.

Or European bikes, cause they're 'foreign' as opposed to those Japanese ones :laugh:

-Indy

[Jeaves]

Had no problems getting the SV covered and only $30 more than the cover on the 250 - Just shy of 25 so that extra excess is there for the time being.

[JimO]

i actually called state on a amendment to the policy as they had my boys down as having a full licence (they have full car but not bike) then they started asking about security for the bike, as in where was it parked at night , when its being used then parked somewhere do we disc lock it etc etc then they said that if i was to buy them a bigger bike they wouldnt insure anybody under 25 on a bike bigger than 400cc, which wont be happening any time soon anyhow.

[SMOKEU]

Really??

Wait, how old are you? and what licence do you have?

I'm 19 with a 1F and 6L, no demerits. NAC is the only company that will insure my GTI-R and they came out cheapest by far for the CBR.