Insurance

[HEsch]

Do insurance premiums change based on licence held? Ie restricted rather than learners?

[Honest Andy]

When we added the kids as drivers on our policies the premium didn't change but the excess went through the roof! Glad we never had to claim :yes:

[caspernz]

Ask your insurance company maybe?

No claims over a period of time will affect premium, that I know for sure, variation for license class held may vary from insurer to insurer.

[HEsch]

Didn't think of telling them, but have just flicked through an email. Will report back.

I know changing the address my car resides at affected the premium - went up with an Akl address and back down now it's back in the Tron.
I didn't own a car when I had my class1 learner's so not sure whether/how it affected things then... thanks mumsie.

[Blackbird]

Premiums also jump around for seemingly little reason. I've been with Protecta for several years as they offered a sharp price with a discount for some additional qualifications I have. This year, it jumped by $100. Went to Dave Hewer at Kiwibike brokers and he found me insurance at my current years' cost with the same conditions. It really does pay to look around.

[Jeeper]

It can, but also depends on how long have you had it all together. Insurance premiums reduce with longer clean claim free periods.

For me, it didn't change because of the short length of time between Learner and Restricted. I am hoping once I get to full, it will.

[Jeeper]

Also, just check how much cover do they include for your riding gear in the policy. Now that you have some new fancy stuff.

[Oakie]

When I added my kids names to our policy it didn't cost us any more. Both on restricted at the time I think.

[HEsch]

It can, but also depends on how long have you had it all together. Insurance premiums reduce with longer clean claim free periods.

For me, it didn't change because of the short length of time between Learner and Restricted. I am hoping once I get to full, it will.

I assume it won't change for me. I have a good insurance history, I'v ehad my full class 1 for a long time, and the price for the bike was competitive - I found out yesterday that I pay half of what bf pays (he is with another ins. co, bike is worth similar - I put my details through their online quote and got the same price as him).
I do have cover for gear (comprehensive policy). I found out yesterday by reading policy docs that I can claim back half of my ride forever courses (one per year) AND doing one will reduce my excess for the next year (not that I want to have an incident just to take advantage of that).

[Blackbird]

It can, but also depends on how long have you had it all together. Insurance premiums reduce with longer clean claim free periods.

For me, it didn't change because of the short length of time between Learner and Restricted. I am hoping once I get to full, it will.

Yep, that's correct. In my case, I have had maximum no claims bonus, never having made a claim and given a $100 discount for the IAM Advanced Roadcraft Test and IAM Observer Qualification which made Protecta an attractive proposition for a few years. The point I was making though is that they're no longer competitive in my case for whatever reason and I now get the same terms and conditions through another company for $100 less than I would have been charged by Protecta. It pays to periodically check with a reputable broker.

[Honest Andy]

I can claim back half of my ride forever courses (one per year) AND doing one will reduce my excess for the next year

Cool. Who's that with?

[HEsch]

Star - via KiwiBike insurance. The one I checked yesterday was Protecta. Their policies do look to have higher cover (ie more cover for gear, etc) but to be honest, I'd rather save the $500 per year than be able to claim a higher value back if I have a crash.

[HEsch]

Response:

No reduction in premium.
I can make only ne claim per year in regards to Ride Forever courses. I then asked if the reduced excess could be applied for 12 months following a second course, if I had claimed the cost for the first, and was told only one course could be claimed (ie 1 claim per year, for cost *and* 12-month excess reduction). Makes sense (simple). I just have to provide proof of cost paid and proof of completion, the 12 months starts from date on cert.

I believe Protecta cover one course (full cost) per year. Not sure if they do a similar deal on excess reduction, didn't look at the policy docs that closely.

[Jeeper]

My excess is pretty low, actually its the same as my Jeep policies. Much like you, I've had my full car license for many many moons. Motorcycles are new to me.

[Keezz]

Do insurance premiums change based on licence held? Ie restricted rather than learners?

I am with KiwiBike and they are very competitive and they told me that the Premiums will be lower with a Full Licence. No difference for a Learner or Restricted.

And another item affecting the premium is your access.

[HEsch]

My excess is pretty low, actually its the same as my Jeep policies. Much like you, I've had my full car license for many many moons. Motorcycles are new to me.

Excess is likely $1000 for the bike, I can't remember and don't have my policy to hand to check. That's OK with me.

[HEsch]

I am with KiwiBike and they are very competitive and they told me that the Premiums will be lower with a Full Licence. No difference for a Learner or Restricted.

And another item affecting the premium is your access.

Good to know, thanks! Roll on Full (minimum of 11 months away, hah!)