Insurance - How much do I insure it for?

[BiK3RChiK]

Hi all,

I went to our insurance company (AMI) for my motorbike insurance and if I insure it for $7195 (what I bought it for) they will charge about $520 per annum. Should I insure it for what I bought it and what other companies should I be looking at? Or am I missing something?

Ta,
Mavis

[Edbear]

Most companies will prefer to insure for the purchase price. They will usually pay out on current market value at time of claim unless you have an agreed sum insured.

AMI aren't bad, but give jetboy, otherwise known as Tim from John Baker a PM or call 0800 656264 and ask for him personally, tell him you're a KB'r and he'll get you a good quote.

Some others like Kiwibike and Classic, (if you're over 30), are good as well. Shop around.

[Winter]

www.kiwibike.co.nz - and do it for purchase price.

[Mr Triple]

Hi all,

I went to our insurance company (AMI) for my motorbike insurance and if I insure it for $7195 (what I bought it for) they will charge about $520 per annum. Should I insure it for what I bought it and what other companies should I be looking at? Or am I missing something?

Ta,
Mavis

I've got all my insurance with AMI except my bike they are too dear.
I'm with Kiwibike and they are great. But like the others say shop around.
I don't think AMI are too keen on insuring bikes.

[cowboyz]

I have all my insurance with AMI except the bike. The refused to insure it as it is a "high risk" bike.

Even though I have never had any at fault claims.......

[Mr Triple]

I have all my insurance with AMI except the bike. The refused to insure it as it is a "high risk" bike.

Even though I have never had any at fault claims.......

It's unreal when you got all your insurance with them and they don't come to the party.

You wouldn't wont to show them your signature (picture) though:nono:

[BiK3RChiK]

Not that I ever intend to make a claim...

Just to clarify!

M

[cowboyz]

the first thing the asked for was a list of my demerit points. Being as I was on 90 at that stage they were not really impressed being as speed kills in all (even though they wouldnt go with my first argument that if speed kills I would be dead and wouldnt be making a claim, making me less of a risk) and my second argument, which also fell flat, was that I wasnt insuring bike for demerits and they dont pay the fines. In any case it was decided that the ZX was a high risk bike and they didnt want to take it on. Awaitng pms from jetboy about other options at the moment.

[BiK3RChiK]

Most companies will prefer to insure for the purchase price. They will usually pay out on current market value at time of claim unless you have an agreed sum insured.

AMI aren't bad, but give jetboy, otherwise known as Tim from John Baker a PM or call 0800 656264 and ask for him personally, tell him you're a KB'r and he'll get you a good quote.

Some others like Kiwibike and Classic, (if you're over 30), are good as well. Shop around.

+1

Cheers Edbear! I'll give them a call tomorrow. AMI rang tonight and said I had until tomorrow to pay otherwise policy would be cancelled... I was humming and ahhing about them because of the price.

M

[discotex]

+1 for Dave at Kiwibike (http://www.kiwibike.co.nz). They do bikes or bikes (and they ride themselves).

I insured for purchase price rather than list price (buying new at a discount). They broker Swann and Star (maybe others).

[kiwifruit]

+1 for Tim at John Baker (jetboy)

[BBzz]

Have a look @ Golightly through Vero, Worked out about $150 cheaper than AMI

[geoffm]

I had 3 bikes (plus 2 cars and house) through AMI. I saved $400/year by going to Kiwibike with better cover (all full, not 2 full and 3rd party). AMI obviously don't like bikes...
I have found them good for car fender benders though.
Geoff

[n0regret5]

try penberthy insurance, 094861175, they specialize with bikes. just switched over from my vfr400 to my new tl1000s and they're charging me the same premium (which at $660p/a is very fair considering i only claimed a year ago)..worth investigating.

[BiK3RChiK]

Thanks fellas. Yeah, we have quite a few insurances with AMI and I thought it might be a bit cheaper than that... Ah well, will check out some of the other recommended places today.

Ta, M

[Dooly]

I also have all our insurances with AMI, for years. Farm, contents, public liability, 4 vehicles, horse float, quad etc etc, adds up to a hefty fee each year.

I have had to stop insuring my bikes as its ridiculously high now, and their manager admitted to me they are'nt interested in bikes now, and would insure mine but the premiums would be high, depsite no demerits etc.
And them prices quoted by AMI below are 'sharp' prices due to being long term etc.

My examples are for my Ducati, $440 with Classic Cover....$1100 AMI.
My Triumph $380 Classic Cover.....$900 AMI.
Full cover per year.

[Edbear]

try penberthy insurance, 094861175, they specialize with bikes. just switched over from my vfr400 to my new tl1000s and they're charging me the same premium (which at $660p/a is very fair considering i only claimed a year ago)..worth investigating.



Is that with Jeanette Venter? She seems an okay lady. Tasman Insurance Brokers do pretty much anything and will talk turkey if your family has insurance with them, too. They use the likes of Vero and Lumley's, good companies to deal with.

We're with State for everything and have been forever, but I insured my bike through Tim as State don't really like bikes either.

[BiK3RChiK]

Update...

Well, that was interesting... As I said AMI quoted me $522ish. Just got a quote from John Baker Insurance for $570ish! Kiwibike $374 and Classic $360. Varying excesses too...

Went with Kiwibike in the end..

Thanks guys.

[ukusa]

all my insurance is with State, or should I say was. After about 20 minutes on the phone to them trying to insure my Triumph last year, they then said "what type of bike is it" , "we don't seem to have that one", "we've never heard of those", "you'll have to talk to someone else, then fill out some forms, we'll have to get up to date info on this type of bike etc etc etc". Anyway, after I told them not to bother themselves, I went to Golightly through Vero, Around $790 i think from memory. I'll be reminded soon, as the next bill will be due shortly. I also insured it for the purchase price (although I didn't add the $2K extras on to it, probably should have)

[n0regret5]

Is that with Jeanette Venter? She seems an okay lady. Tasman Insurance Brokers do pretty much anything and will talk turkey if your family has insurance with them, too. They use the likes of Vero and Lumley's, good companies to deal with.

We're with State for everything and have been forever, but I insured my bike through Tim as State don't really like bikes either.

yeh, sounds about right. i've got a friend who insured his yzf-1 through state and when he wiped it out (bound to happen, first big bike, going from a gsx250 to something with 140bhp at the back wheel was never smart) they dicked him around for about 3 months. my claim was sorted very quickly, people at the company are nice and friendly. and the last chick i chatted to was flirty as hell and sounded wicked hot. haha!

[Mr Triple]

Update...

Well, that was interesting... As I said AMI quoted me $522ish. Just got a quote from John Baker Insurance for $570ish! Kiwibike $374 and Classic $360. Varying excesses too...

Went with Kiwibike in the end..

Thanks guys.

Dave at kiwibike is real helpful as well. Because I live in the south Island we get it a bit cheaper as well. Must be bad buggers up there :bleh