Insurance

[Box'a'bits]

So here's the thing. Sold the KTM. Had comprehensive insurance. Decided to do the third party insurance thing on the (much cheaper) GS. Already have two other bikes insured with them.

Phoned my insurer State, & was declined insurance. :mad:

Apparently State's policy is that (regardless of the type of mod) they won't insure vehicle / bikes if mods have been done that exceed 25% of the (purchase) value. This is regardless as to whether you take comprehensive or third party, & whether the mod is for utility rather than performance. So simplistically no more than $1k on a $4k bike. WTF??? :angry: Now I thought that third party covered the other party - not my bike. And if there is no performance boost, what is the issue?

You MUST fully disclose, or at claim time they may not pay out.

So State HAD all of my business (but not any more)......30 yr customer down the toilet...never made an 'at fault claim', clean history, model customer, hse, contents, car, 2 other bikes....

The upside of taking the business to Vero is that the monthly premiums have dropped $65/mth...Go Vero!!! :woohoo:

[Padmei]

I was really surprised that the 3rd party insurance for my GB400 was $27 per year - yes really. When I asked about 3rd party for my GS here's what was sent to me.

Full cover would be $200 per year and Third party only $180 per year for $3000 cover (going over 3k puts it in the next rating bracket and the premium jumps up)

That's one hell of a difference. Full cover would have to be the go but I only want a cheap 3rd party.

BTW what are you doing with the GS as a matter of interest - post on the twin boxer thread if you'd like

[dino3310]

mate ring Dave or Donna at kiwibike insurance 0800 629 253 or www.kiwibike.co.nz they will sort ya out:Punk:

[Padmei]

mate ring Dave or Donna at kiwibike insurance 0800 629 253 or www.kiwibike.co.nz they will sort ya out:Punk:

Thats where my quote came from - already have gonzo insured thru them.

[Box'a'bits]

Thats where my quote came from - already have gonzo insured thru them.
Vero did the GS & the RS for $47pa ea, and the Gilera for $27. And none of the bullshit about modifications. They weren't bovered. After all, they are just covering someone elses damage.....

State (for the RS) was $87 pa

[dino3310]

mines at $260pa for 3.5k full cover, i thought that was pretty good when i looked at putting it through the broker the missus uses for the car and house shit it was near double the premium:shit: . but the way the bike market is i dont think the current market value will be 3.5k:no:

[Box'a'bits]

mines at $260pa for 3.5k full cover, i thought that was pretty good when i looked at putting it through the broker the missus uses for the car and house shit it was near double the premium:shit: . but the way the bike market is i dont think the current market value will be 3.5k:no:
The KTM was $436.66 pa for $9k cover. By the way you did realise that cover ends as soon as the road does? So you ride tracks (42nd etc) at your own risk - not insured...

[dino3310]

The KTM was $436.66 pa for $9k cover. By the way you did realise that cover ends as soon as the road does? So you ride tracks (42nd etc) at your own risk - not insured...

yeah i knew, im more worried about some bugga flogging it as its an easy steal:shutup:

[That looks like fun]

Try NAC. They only insure what they see as the high end of the market (simply speaking non japanese) :yes:

[devo]

The upside of taking the business to Vero is that the monthly premiums have dropped $65/mth...Go Vero!!! :woohoo:


remember tho, you get wot you pay for

Early this year I decided to go full cover on my speedy and was dissapointed at the quote I got from state who have all my other business.I rang a broker known here and recieved a quote $120 a year cheaper, which of course I took.
I recently had an accident which destroyed the bike.The day after the accident, the other partys ins co rang me and said they were accepting full liabilty and gave me a claim no. to pass on to my own insurer which I did immediately.
Unfortunately, at the time of comparing quotes, I wasn't aware that state had quoted for agreed value and the other co. had not, even tho the insured sum was the same.
Upshot was, I got paid out 2k less (P A V)than the sum insured and I waited 3 weeks for my money. As a comparison, my wifes car was destroyed in a 5 car nose to tail recently, and state paid out the full sum insured ( agreed value) and the money was in the bank 3 working days after the accident.
So my new bike is back with state even tho they are $120 a year more, but I know exactly wot I will get and I wont be waiting for ever to get it.

[Okey Dokey]

Try NAC. They only insure what they see as the high end of the market (simply speaking non japanese) :yes:

I'm not quite sure if you are trolling or not, but we have both of our GSXRs insured with NAC :)

[Woodman]

I got 3rd party on the klr through ami. $26 per annum, but not sure about the modification clause.

What constitutes a modification?

[Padmei]

I got 3rd party on the klr through ami. $26 per annum, but not sure about the modification clause.

What constitutes a modification?

You ride around wearing a Saville Row suit.

[warewolf]

Me too (ami third party for the price of a case of beer). They didn't ask about mods.

I've been with AMI for a good long while, found them very competitive (for my circumstances) vs every other 'cheap' suggestion. Declared the mods and they didn't care. At best the others could match it. However for multiple bikes John Baker Insurance (jbinsurance.com) was very good with fleet discounts, limited mileage and other savings. It was more economical to have the EXC will full comprehensive than third party, fire & theft.

[Oscar]

Call Classic Cover.

[Box'a'bits]

What constitutes a modification?
State's interpretation is anything non factory installed.

[That looks like fun]

I'm not quite sure if you are trolling or not, but we have both of our GSXRs insured with NAC :)

They must have changed their criteria, when I first approached them with the beemer they told me they only insured "classic" motor vehicles. Interpret that however you want. They were cheap and gave all the extras (road side assist etc)
My wife rides a japper so may have to go back to them for a price on the rice :yes:

[1KTM]

State's interpretation is anything non factory installed.

my ktm 990 i pay $988 with state

[Oscar]

This is something I put in every insurance thread here, in the vain hope that some of you knuckleheads will understand:

Don't buy insurance solely on the basis of price.



The thrill of a cheap premium deal tends to fade as the dead carcass of your motorcycle slowly rusts in your garage after having the claim declined.

[dino3310]

Don't buy insurance solely on the basis of price.


.

:shit:you havent met my missus have you :rofl:

but yeah i know what ya mean, i got stung in my teens i ended up pinching my bike back and forking out all the $$$ for the semi rebuild.

[warewolf]

Don't buy insurance solely on the basis of price.Yep. My wife has worked in the insurance game and also strongly recommends this.

[NordieBoy]

This is something I put in every insurance thread here, in the vain hope that some of you knuckleheads will understand:

Don't buy insurance solely on the basis of price.

It must be the correct colour too.

A nice eggshell blue with just a hint of sparkle.

Got to re-do my insurance too...

[Woodman]

Didn't get my insurance on price, and would get full cover if I had an expensive bike, but the klr ain't worth much.

Does house and contents cover theft from the shed??

[Oscar]

Does house and contents cover theft from the shed??

In general - no.
Some policies cover kiddies bikes up to 100cc or $1,000 or thereabouts.