Why bother with insurance?

[Rcktfsh]

One problem in regards to compulsory 3rd party is that Insurance companies presently only provide cover for vehicles, not riders/drivers. This would require someone who might have 2 or 3 bikes(not uncommon) and possibly a car as well to take out individual policies for each. What would make more sense is to be able to purchase insurance for the rider/driver as physically you can only operate 1 vehicles at a time. Also if you own more than 1 bike you may well do minimal mileage on some of them, yet be forced to take out insurance that doesn't recognise this. Personally I have 3rd party on my car but don't bother with my bikes, in 30 years riding I'v only once damaged another vehicle which from memory cost me $350 to have repaired a helluva lot less than the premiums would have. As for damage to my bikes, admittidly that has over time been a little more extensive, however i'm quite happy to ride a bike with the odd character mark. Part of the ridiculous cost of insurance that a minor slide whilst leaving the bike perfectly rideable can in the eyes of the insurance company make it a right off with the huge cost of oem parts.

[Hiflyer]

.....as physically you can only operate 1 vehicle at a time.....

That sounds like a challenge to me!

[YellowDog]

You can get driver policies, but generally these are for vehicles not owned by you.

I think that someone should suggest it as a damn good idea.

[Rcktfsh]

That sounds like a challenge to me!

I know I've tried and failed with spectacular success.

You can get driver policies, but generally these are for vehicles not owned by you.

I think that someone should suggest it as a damn good idea.

It does make sense as it is the rider/driver that causes the crash not the vehicle.

[mattian]

I didnt have a choice with mine. Mum wouldnt let me ride unless it was insured, and AMI didnt give me the choice of 3rd party or full, it was compulsory full. And yes I am talking about my GN250. Having it insured for 2 years has got me a pretty good quote for when I can afford my 650.

so, your mum knows about you riding a bike but your dad doesn't? how have you both managed to keep it a secret?

[Hahn]

AMI didnt give me the choice of 3rd party or full, it was compulsory full. And yes I am talking about my GN250. Having it insured for 2 years has got me a pretty good quote for when I can afford my 650.

I got a quote for insurance from AMI about a month ago. I think it was $35 a year for 3rd party. But they don't do 3rd party fire and theft...
If you can't afford full cover or don't require it, thats pretty bloody cheap.

[Rcktfsh]

I got a quote for insurance from AMI about a month ago. I think it was $35 a year for 3rd party. But they don't do 3rd party fire and theft...
If you can't afford full cover or don't require it, thats pretty bloody cheap.

That is cheap, will give them a try as the last qoute i had for 3rd part, fire & theft for one of my bikes was just shy of $900.00.

[naphazoline]

Hi everyone,
I've noticed a lot of people on KB talking about the need for insurance but I'm curious about what the actual benefit is.
It seems to me that;
1. Bikes are cheaper than cars.
2. Bikes won't damage another vehicle as much as a car will.

Let's say, as a learner rider, I get a $2000 GN250. There doesn't seem to be much point in paying $500 a year and then having a $500 excess if I need to use it anyway. (I'm just guessing at the numbers here but I don't think they'd be that far off).

I'm not trying to be a troll, I'd just like to hear some compelling reasons.

I do see the wisdom in life insurance but I don't use vehicle insurance of any kind.

Aside from the obvious,and stated third party reasons,if you buy a decent/expensive bike,that to me is reason enough to get it covered.

Considering a set of fairings might typically cost $2500+,and then some people pay their bikes off,so might not have the money to get their bike fixed in the case of an accident,let alone paying for another damaged vehicle.

Small price to pay.

[Owl]

That is cheap, will give them a try as the last qoute i had for 3rd part, fire & theft for one of my bikes was just shy of $900.00.

3rd party, fire & theft (for bikes) is usually dearer than comprehensive when available. My last 3rd party quote was back in 99 and was $8.50