To insure or not to insure, That is the question

[Lord Alster]

When I was last into biking about 15 or so years ago I found that to insure a big bike, in my case Honda CBX1000, was just too expensive. Can anyone confirm or deny if this is still the case and maybe offer some advise or recommendations. 3rd party is always an option but I tend to think, if i hit something hard enough to need third party there's a good chance I'm not going to be around to care.:doh:

[TLDV8]

When I was last into biking about 15 or so years ago I found that to insure a big bike, in my case Honda CBX1000, was just too expensive. Can anyone confirm or deny if this is still the case and maybe offer some advise or recommendations. 3rd party is always an option but I tend to think, if i hit something hard enough to need third party there's a good chance I'm not going to be around to care.:doh:

I was paying around $500 a year to insure my CBX1000 in 1983..these days some companies won't touch a bike for full insurance,either way 3rd party is a minimum and pretty cheap for the piece of mind (under $100 a year in some cases)..just putting a small dent in some new cars could cost you $1000's.

[erik]

I've got no idea how much insurance is for bigger bikes. If I remember right, it was going to be somewhere over $300 a year for full insurance for my Zeal which isn't worth much to start with. But third party only is only like $68/year. I guess they might not pay out if I was riding illegally (eg lanesplitting illegally) but for $68/year I think it's worth it.

[Brian d marge]

Never actually got round to getting insurance unless you call compulsory insurance 3 rd party you automatically pay ,,,getting insurance ...then yes I have it ,,
But after 20 years of rooting bikes ... as a mechanic and a London DR and as a mechanice in some far flung countries ......I still havent coughed up for the full monty ,,,
I actually in all these years ,,,I have never needed to use insurance ,,,,,ONCE when I was 16 and went up the back of the car ,,,I think the 3rd party compulsory kicked in ..( or Dad paid and I mowed the lawn for eternity )

Oh and I race on the race track , and ride like a paranoid Nana on the road ..on a bike that has a whopping 22 hp ,,,,so speed aint exactly going to catch me unawares !!!!

Stephen

[Jackrat]

I don't use insurance on anything other that the house.
I also don't use credit on anything but the house.
Course this means I don't get to share ownership of the latest bike with some swindling finance Co' and if I do crash my bike I got to fix it myself and pay for the bits to do so.
But I DO own my own home and I owe bugger all to anybody.:niceone:

[Macktheknife]

Dont be a fool mate, if you stack it and live through the experience as many do (including me), the really comforting part is knowing that it is insured. When you lie in your (hospital) bed at night weeping over your lost baby bike (sniff) you will console yourself with the knowledge that soon you will go out to search for another one, a better one, a prettier one, a faster one!
then you will feel better.
Insurance is not an option, its a necessity!

[MSTRS]

Can you afford to lose the price of a replacement bike??
Can you afford to replace a $400,000 Lamborari??
Get third party at least. $56 a year for me. Full is not an option for me as premium & excess almost equal the value of my ol'gixxer.

[T.W.R]

wondering about insurance for a bike? check the black black bird thread mmm prime example of why you should have insurance!

90% of bikes are on the infamous black list of insurance companies but it all depends on where you go, what your history is like, and what mood the insurer is in!

my ZXR costs me $267 per year on a agreed value policy with the excess set at $250 for any claim; the agreed value is $5000

insurance is a gamble but think of it this way: say you are involved in a accident that proves fatal ( god forbid it ever happens to any of us) & it was your fault, your not insured, what happens?, your family is left to clean up the mess & expense for the sake of you not insuring your bike ( and really when you think about the cost per year, it would be less than any of us waste on shit items) so respect yourself and your family, and save yours & their arses if the unthinkable happens!

[pyrocam]

dont insure, just ride dangerously enough that when you come off you kill yourself. no problems

[Motu]

I've never insured a bike in my life - 35 years of premiums....how many new bikes could I have bought? I smack a bike up and it's my fault,my problem to fix.My bike gets stolen....that's the price you pay for not taking precautions.

[Lord Alster]

Ok, so I see opinions vary greatly on this subject which I guess is to be expected when you consider that not only do peoples financial situations vary greatly but also what each individual considers to be reasonable and responsible with regard to their personal situation. I guess one of my main concerns would be theft, although my bikes aren't Harley's, thank god, I do consider them to be desirable machines so does third party include theft or can you get it included as an extra? Full cover I think is probably exorbitantly priced but if anybody can recommend a bike friendly company I'd really appreciate it.:yeah:

[Hitcher]

For full insurance cover, work on an annual premium of about 10% of the insured value of the bike. Plus or minus.

Kiwibike (www.kiwibike.co.nz) is a good place to start for advice. There is a range of companies who I am sure others will leap to recommend. I'm currently with Swann. Mrs H is with John Baker.

[NinjaBoy]

So does third party include theft or can you get it included as an extra? :

Some companies offer third party only OR third party, fire and theft as options.


Full cover I think is probably exorbitantly priced but if anybody can recommend a bike friendly company I'd really appreciate it.:yeah:

It's worth getting some quotes ... you may be surprised. I found my house/content/car insurer actually had the best deal but there are specialist bike insurer as well eg. Star insurance, Protector, National Auto Club or try Kiwibike.co.nz

[Jabez]

It depends on the value of the bike.
My 600 has full insurance, the wife's 125 only has 3rd party as full is about 25% of cost of bike.

At the very least you should have 3rd party, this covers damage to other vehical. I can ware the cost to fix/replace the 125, but would not be happy contibuting to fixing someone elses cage.....

[ducatilover]

i am never having a bike without insurance again unless i have enough money to replace it staight away:bash: learnt that lesson

[Lord Alster]

Thanks for you assistance guys I've just requested quotes from Kiwibikes so we'll see what they come back with. I agree with the desire for insurance, have to wait and see if i agree with the cost now.:blink:

[Pathos]

My next bike won't have an expensive fairing to break or chrome/sparkling paint to scratch. You can crash a bike so easily without if someone leaves grease on the road theres nothing you can do about it.

[ducatilover]

Thanks for you assistance guys I've just requested quotes from Kiwibikes so we'll see what they come back with. I agree with the desire for insurance, have to wait and see if i agree with the cost now.:blink:
national auto club is pretty cheap:yes:

[Biff]

I've never insured a bike in my life - 35 years of premiums....how many new bikes could I have bought? I smack a bike up and it's my fault,my problem to fix.My bike gets stolen....that's the price you pay for not taking precautions.

There's some logic there. But what happens if you hit someone - while not insured? Who pays for the damage you could do? Do you get sued?

[miSTa]

Exactly Biff, just think $400k lambo.

For me full insurance is a matter of less than $10 a week through Swann and that's with the $500 helmet extension, cheap and easy piece of mind.

[sels1]

IMHO 3rd party Insurance should be compulsory, as it is in other countries. If someone ran into your bike/car, you would want it fixed pronto - you wouldnt want to hear the person responsible had no insurance and you were going to have to drag them thru the courts to maybe eventually get some money back, while you have to go without your vehicle and/or pay for the repairs yourself.

[Motu]

There's some logic there. But what happens if you hit someone - while not insured? Who pays for the damage you could do? Do you get sued?

You make sure it never happens.

[sels1]

You make sure it never happens.

I hope Mr Murphy (and his Laws) aint watching this thread.....

[T.W.R]

You make sure it never happens.

NEVER SAY NEVER !!!!! and if there is justifiable cause you can be sued for damages incured to another person if they present legitimate claim of loss

[Motu]

Crap! ALWAYS say NEVER! Go around expecting a crash and sure as hell you'll get your crash.You can believe everyone is out to get you,even Murphy,and yep,it'll happen - I hope you guys don't go near a race track,with your negative thoughts you'll come last,and crash....because you expect it!

[T.W.R]

Crap! ALWAYS say NEVER! Go around expecting a crash and sure as hell you'll get your crash.You can believe everyone is out to get you,even Murphy,and yep,it'll happen - I hope you guys don't go near a race track,with your negative thoughts you'll come last,and crash....because you expect it!

theres a difference between paranoia and being a realist SUNSHINE! wait until you do get bitten by reality DON'T GO AROUND CRYIN LIKE A BABY SAYIN WHY ME!
i got drilled by a car 10yrs ago, i've had 7 operations on my left elbow & its at the stage where the next step is an artificial one ! it doesn't bother me that it happened & theres nothing i could have done to stop it happening IT JUST HAPPENED!
and about racing huh well, been there done that :finger: & i was racing against the likes of the king brothers i never saw the ass end of the field once :finger:
SO FUCK YOU & YOUR BLINDNESS ! :tugger: :weird:

IGNORANCE IS BLISS ISN'T IT:angry:

[inlinefour]

The only reason why AA insured me was because I am a old customer of theirs with alot of other stuff unsured with them. They say they are reluctant to say the least and they do not usually insure bikes to new customers. Its really sad as when I was a teenager it used to cost me 10 squid a year for 3rd party insurance. These days, my new bike costs me $800-00 per year to insure.

[marty]

theres a difference between paranoia and being a realist SUNSHINE! wait until you do get bitten by reality DON'T GO AROUND CRYIN LIKE A BABY SAYIN WHY ME!
i got drilled by a car 10yrs ago, i've had 7 operations on my left elbow & its at the stage where the next step is an artificial one ! it doesn't bother me that it happened & theres nothing i could have done to stop it happening IT JUST HAPPENED!
and about racing huh well, been there done that :finger: & i was racing against the likes of the king brothers i never saw the ass end of the field once :finger:
SO FUCK YOU & YOUR BLINDNESS ! :tugger: :weird:

IGNORANCE IS BLISS ISN'T IT:angry:


hmmm. i can just see Motu going round crying like a baby. does it all the time he does. and you must have a VERY large penis to have never seen the arse end of a field racing with the king bros. wow.

:cry:

[marty]

the Bus is $2.50 a day to insure. i think it uses that much in back tyre too. not to mention gas. it's just one of those costs associated with riding - i just try to ignore it.

i looked at 3rd party, but fire and theft is no longer covered - only public liability. if i had an XR500 shitter then i might go there, but with $2000 worth of fairings alone, i don't think so....

[Motu]

New Zealand is one of the most over insured countries in the world,and insurance is the scourge of responsable riding and driving.How many times have you seen a prang between a couple of flash cars,two well dressed young execs get out,exchange insurance company details and go on their way.The car goes to the panelbeater,they are supplied with a courtesy car,and carry on life as per normal,no consequenses for their actions,nothing learned.In fact,as I work close to panelbeaters I've seen courtesy cars pranged as they cross the road coming to pick their car up.

How many times on this site have we seen someone prang their bike,then the wait for the insurance payout so they can get a new one? I'm sure if the had to do and pay for the repairs themselves we might see a different approach to their riding....they just don't bloody care,it all gets taken care of for them.

[sels1]

New Zealand is one of the most over insured countries in the world,and insurance is the scourge of responsable riding and driving.How many times have you seen a prang between a couple of flash cars,two well dressed young execs get out,exchange insurance company details and go on their way.The car goes to the panelbeater,they are supplied with a courtesy car,and carry on life as per normal,no consequenses for their actions,nothing learned.In fact,as I work close to panelbeaters I've seen courtesy cars pranged as they cross the road coming to pick their car up..

You make a valid point and I tend to agree with you - I try to keep my insurances down just to cover "worst case scenarios." However there are some things you have to insure really(like yr house) and I feel it is iresponsible not to have 3rd party on vehicles.



How many times on this site have we seen someone prang their bike,then the wait for the insurance payout so they can get a new one? I'm sure if the had to do and pay for the repairs themselves we might see a different approach to their riding....they just don't bloody care,it all gets taken care of for them.

The other side of that, I guess, is if you pay out all this money for insurance then you want all the benefits when you do have a prang.
And I suppose it keeps people employed. :)

[Ixion]

But, but, but ,but - don'tcha unnerstand how it works?. See, if you've got the magical gear, and the magical insurance, it doesn't matter how often you crash. Cos the magical gear will make it certain that you won't get hurt, and the magical insurance will replace your bike so you can go out and crash again.

If you didn't have the magical gear and the magical insurance you'd, uh, um, well, less see, um *shit* , furggen hell, you'd have to NOT CRASH. And that's like IMPOSSIBLE, cos everyone knows that crashes JUST HAPPEN. There's nothing you can do to prevent them, they just happen.

And anyway, what would be the fun of squidding if y'diddn crash. I mean, the crashes just HAPPEN. You can't do anything to prevent them.Stands to reason that everyone's gonna crash, there's nothing you can do to stop it.

So you've GOTTA have the magical gear and the magical insurance. And the gubberinment oughta pass laws to make magical gear and magical insurance compulsory for everyone. We need lots more laws , so as to make crashing safer.

[Oscar]

90% of bikes are on the infamous black list of insurance companies



....and you know this, how?

[Oscar]

There's some logic there. But what happens if you hit someone - while not insured? Who pays for the damage you could do? Do you get sued?


Motu rides like a Nana.
His major risk is being mistaken for a chicane.

[heavenly.talker]

Dude...to not insurance is simply madness in this day and age. Hubby has been riding for over 25 years but binned his bike recently. If we didn't have insurance it would have been 10,000 K down the dunny! As it stands, its only 1500 being flushed on the excess.
If you would like good insurance deals talk with Sarge or Cibby Chick.

[Oscar]

and about racing huh well, been there done that :finger: & i was racing against the likes of the king brothers i never saw the ass end of the field once

Got lapped early on did you?



SO FUCK YOU & YOUR BLINDNESS ! :tugger: :weird:

IGNORANCE IS BLISS ISN'T IT:angry:

No, ignorance is the caps lock.

[ducatilover]

New Zealand is one of the most over insured countries in the world,and insurance is the scourge of responsable riding and driving.How many times have you seen a prang between a couple of flash cars,two well dressed young execs get out,exchange insurance company details and go on their way.The car goes to the panelbeater,they are supplied with a courtesy car,and carry on life as per normal,no consequenses for their actions,nothing learned.In fact,as I work close to panelbeaters I've seen courtesy cars pranged as they cross the road coming to pick their car up.

How many times on this site have we seen someone prang their bike,then the wait for the insurance payout so they can get a new one? I'm sure if the had to do and pay for the repairs themselves we might see a different approach to their riding....they just don't bloody care,it all gets taken care of for them.
very valid point i have to say, take me for example: unisured bike with lots of damage, now i am facing the consequences and somehow accept the reality of my stupidness, if i was on a bike i could insure i would just go and pay 500 bucks and forget about it....although i'm gonna insure my next bike....:2thumbsup

[T.W.R]

Got lapped early on did you?



No, ignorance is the caps lock.


HA! theres always a funny cunt somewhere! Nah never rode like i suspect you do :finger:

& numb-nut ! the caps lock ( upper-case!) is yelling :bash:

ignorance is riding around without any form of insurance ya twat:bash:

[T.W.R]

hmmm. i can just see Motu going round crying like a baby. does it all the time he does. and you must have a VERY large penis to have never seen the arse end of a field racing with the king bros. wow.

:cry:

we wont go there about what i think of $%#@$$ saying what was said %$#@^%$#.

and i wont say how many years ago the Moto-x was & how many other big name riders were in the fields but Daryl & Shane were only regional champs at that stage, but it was awesome time, got a few holeshots but not many top placings but never got embarressed, lapped or played tail-end charley

[dhunt]

New Zealand is one of the most over insured countries in the world,and insurance is the scourge of responsable riding and driving.How many times have you seen a prang between a couple of flash cars,two well dressed young execs get out,exchange insurance company details and go on their way.The car goes to the panelbeater,they are supplied with a courtesy car,and carry on life as per normal,no consequenses for their actions,nothing learned.In fact,as I work close to panelbeaters I've seen courtesy cars pranged as they cross the road coming to pick their car up.

How many times on this site have we seen someone prang their bike,then the wait for the insurance payout so they can get a new one? I'm sure if the had to do and pay for the repairs themselves we might see a different approach to their riding....they just don't bloody care,it all gets taken care of for them.
I like your logic Motu :) I also don't have any insurance, I say all my insurance is in my head and try and drive/ride accordlying, ie if I'm really tired I drive/ride slower if I have to drive/ride at all or take the pushbike. Yes I would be gutted if I binned my bike but I don't owe any money on it so don't lose out too bad.

[Oscar]

HA! theres always a funny cunt somewhere! Nah never rode like i suspect you do :finger:

& numb-nut ! the caps lock ( upper-case!) is yelling :bash:

ignorance is riding around without any form of insurance ya twat:bash:

No, ignorance is yelling and name calling to make your point. Try using your inside voice, you'll feel much better.

Motu is quite entitled to not insure and share his opinions about the subject, much as you are doing in your adolescent fashion...

[marty]

we wont go there about what i think of $%#@$$ saying what was said %$#@^%$#.

and i wont say how many years ago the Moto-x was & how many other big name riders were in the fields but Daryl & Shane were only regional champs at that stage, but it was awesome time, got a few holeshots but not many top placings but never got embarressed, lapped or played tail-end charley


ooohh you're so strong..:apumpin:

[TLDV8]

I think you will find in Auckland anyway,that a lot of vehicles are NOT insured in any form,these people then have accidents but won't pay for the damage,yet for a pissy amount they could have been responsible and got third party.You could then guarantee if that same person was run into by another person with no insurance it would be a very different story.."Sorry mate,got no money,Sue Me..LOL..........one reason why the traffic department is overrun chasing this BS up..even if taken to court,the end result is more like $10 a week for a couple of months...A case of fine until it happens to you.?..Of course then as a added bonus,the people wanting the cops to get their money through the system will later probably say the cops should be out solving "real crimes" :doh:.... Third party on a TL1000 is 19c a day,anyone who can not afford that,can not afford to be on the road imho.

[Lord Alster]

Seems I've started something here. I expected everybody would have their own opinion on the subject but I didn't think it would get quite as heated as it has along the way. Everybody is entitled to their opinion and just because theirs is different to yours doesn't make either right or wrong. Just be prepared to pay for the damage at least to the other parties vehicle if you happen to cause an accident and don't at least have 3rd party. One very valid point that has been made is the value of the fairings on some of the big bikes like my FJR. These of course can suffer quite badly from a fairly minor accident, maybe full cover is warranted. Still undecided but investigating prices and options.:confused:
An entertaining discussion ladies and gentleman.:banana:

[Warr]

Just added 3rd party for my VFR today, $47.85 / year. With FMG (Farmers Mutual Insurance) 0800 366 466
Seems cheap piece of mind. They didnt want to know value just Year/Make/Model. & who was riding, previous claims etc etc !!
Didn't ask about speeding fines either so no lies told :calm:

edit: Add FMG name & number

[buellbabe]

Yo! With Protecta its costing me roughly $700 for total replacement on an $18 K bike. I think that a small price to pay to look after my baby, afterall it doesn't matter how onto YOU are, its all those dumbarse car-drivers you gotta watch out for!

[Cookie]

It does not take much to do many thousands of dollars worth of damage to another vehicle. The only vehicle I never insured rolled a couple of metres backward out my driveway and gently nuged the neighbours Toyota something. It hit on the corner compressing the tail-light suround of my neighbours car. I was up for about $2,000.

It hurt to have to hand over that sort of money for a pointless mistake :bash:

I would recommend 3rd party minimum. I am never without it now.

For the bike I contacted www.kiwibike.co.nz. I have found them good to deal with.

[Lord Alster]

Just added 3rd party for my VFR today, $47.85 / year.
Seems cheap piece of mind. They didnt want to know value just Year/Make/Model. & who was riding, previous claims etc etc !!

Hey there Mr Warr
Wanna divulge who you got this deal with? it seems very reasonable.:yes:

[Biff]

I'm currently insured to the hilt, but seriously thinking about going third party only. Not insuring is out of the question, as the last thing I need is to be sued for ploughing into a bunch of school kids after pulling an enormous wheelie down the high st, loosing it and hitting a week old Merc.

Why should I pay for my own stupidity?

[Warr]

Hey there Mr Warr
Wanna divulge who you got this deal with? it seems very reasonable.:yes:
Sorry .. wasnt meaning to keep you in suspence !! Forgot.
FMG (Farmers Mutual Insurance) 0800 366 466
They have my house, contents, car, full on Yamaha etc.
Only had one claim when I lost my pack off the back of the Yamaha. And paid up- so sweet.

[Oscar]

I'm currently insured to the hilt, but seriously thinking about going third party only. Not insuring is out of the question, as the last thing I need is to be sued for ploughing into a bunch of school kids after pulling an enormous wheelie down the high st, loosing it and hitting a week old Merc.

Why should I pay for my own stupidity?

Assuming that yer over 35 and have a reasonable claims record - try Classic Cover. The owners a mate ~ so PM me if you want details ~ he cannot be beat for us "mature" chaps.

[James Deuce]

Assuming that yer over 35 and have a reasonable claims record - try Classic Cover. The owners a mate ~ so PM me if you want details ~ he cannot be beat for us "mature" chaps.

I'll second that. Incredibly competitive rates, whether it's a late model bike or an older commuter.

[judgeshock]

When I purchased the VTR recently i had two options of insurance i looked at.
I had vero at approx $16.00 a week and AMI at the same.
Vero was $700.00 excess and AMI $300.00 excess. That is on $11,000.

I went with AMI as all my other insurances are with them, i was told they might not be as quick to pay out as AMI but depending on the situation i might not be as quick to hop back on the saddle either.

Everyone to their own, for me i can't be without full insurance cover.:rockon:

[inlinefour]

Anyone that does not at least have 3rd party is a selfish inconsiderate tw@t! The day that NZ wakes up and makes insurance compulsory to ride/drive on the road like the rest of the world, will truely be a great day! Pity I don't do red rep anymore, some here deserve it, they should know who they are. I'm actually wondering if the ones who have been making the nasty comments are not insured? At the end of the day its like drinking alcohol (if you can afford to drink, you can also afford a taxi). Likewise if you can afford a car/bike, you can afford the insurance! Really only a selfish inconsiderate tw@t would disagree I suspect...

[Oscar]

Anyone that does not at least have 3rd party is a selfish inconsiderate tw@t! The day that NZ wakes up and makes insurance compulsory to ride/drive on the road like the rest of the world, will truely be a great day! Pity I don't do red rep anymore, some here deserve it, they should know who they are. I'm actually wondering if the ones who have been making the nasty comments are not insured? At the end of the day its like drinking alcohol (if you can afford to drink, you can also afford a taxi). Likewise if you can afford a car/bike, you can afford the insurance! Really only a selfish inconsiderate tw@t would disagree I suspect...


Good in theory, but - if third party was compulsory, insurance premiums would go through the roof. Believe it or not, NZ premium rates are relatively cheap compared to the rest of the world.

[Brian d marge]

I thought NZ Had compulsory 3rd party ..Back when,,,, Mine was third party and I thought it was compulsory ,, i remember it as third party fire and theft ...Im sure it was ??

In the mean time I ride it like I stole it ,,,,Spank the bitch till she crys ,,,,then reach into me pocket and fix the thing .. Dont owe anyone , dont pay anyone ,,and dont cry if I am off the road due to my stupidity ,,,

Still I ve probably always had third party I suppose ...Never needed to find out ,,,

I am third party now as you automatically pay when you get your MOT here ...and when I drive in NZ ..I use hire cars ,,,and they sting u for insurance ...

Just never actually gone out of me way to actually get the stuff ...

Mind you ,,,If I did buy a 2000 dollar fairing ...then I supose I would think about it
As was said flushing 10 k ,,,is a lot worse than flushing 1,5 K ...
Who am I kidding ,,,Id buy a race fairing !!! keep the new one in a Box .......

And SPANK THE BITCH :banana:

Stephen

[trumpy]

If you are over 30 (which I assume you are) try Classic Insurance in Hamilton (you'll find their ad in Kiwi Rider). They gave me by far the best overall deal of all the quotes I had.