Bike insurance

[Death 'N' Taxes]

I'm insured with Protecta.

Bit on the pricy side with a premium of $850 (with 50% no claims bonus) for a 98 zx9r insured for 9k and a HUGE excess of 25% of market value.

However, just had an off - they processed the claim in 2-3 days. No dispute over any of the parts - just replaced with no question.

Not too sure about other insurance companies, but even though the crash was my fault, they said that I will only drop down to a 20% NCB for this year then straight back up to 50% next year.

I have been told by some repairers that some insurance coys with argue over replacement or repair of parts - but Protecta realise that bikes aren't just transport - they are someone's pride and joy and as such want it back exactly how it was - not some dodgy repair job.

I'm sure some people have had bad experiences with Protecta (as is the case with all insurance coys) but my recent experience is good from a claims point of view.

BUT the excess is rediculous - and may cause me to move to another coy.

[T.I.E]

most insurance compaines i spoke with had a discount if your with a club, probably a real club. but tha discounts were good.

also some clubs may have a special going with a company so check them out. 40 dollars a year could save you hundreds.

[Beemer]

Don't forget to check the excess too - I had fairly cheap insurance through the BMWOR with Protecta, but hadn't realised the excess was 25% of the sum insured! (And they wouldn't let me decrease the sum insured except when the policy came up for renewal - I missed it, so had to wait another year before I could reduce it.) I'm now with AA - similar price for lower cover, but with a $300 excess. I was with AMI for the RG150 but they weren't interested this time because our house, contents, cars, etc., are with another company. God knows what they do if you've only got a bike and no other assets!

If you have house and contents insurance, check with your insurer for that - they could offer you a package deal.

[SlashWylde]

No Problem, I'm eagerly watching coz I'm getting shafted myself. I'm paying too much and the restrictions are too many. I'm currently with Protecta, but not for long.
Whitetrash mentioned some cheap as insurance company that insures non timed track rides. I'll try and find out from him, who that was.

Hmm, that's interesting. Protecta is one of the ones I'm going to get a quote from for the new bike. I kinda thought they'd be one of the better ones seeing as they advertise in bike mags and bike shops, guess I assumed they would do policies that would suit bikers. Oh well we'll see.

[InDeSkyz]

I thought I might update this thread, since my newbie info may help someone.

This is for the Yamaha Zeal 91'
I can't insure with State and AA because I don't have existing insurance with them.
My quote for ASB came to $790.00
AMI gave a quote of $831.00 with a $1000 excess

This is partly due to having all my other insurance as not under my name, but listed as the main driver. So I effectively have no insurance record.

I will be calling Protecta and Swann tomorrow.

So what I have learnt through all this evenings phone calls are:
Insurance companys don't really want to know you if you are getting a motorcycle and are a newbie to insurance.

[Death 'N' Taxes]

Further to my post above - I did move insurance coys.

Just got my renewal from Protecta - $1,600!!!!

They wiped my NCB completely after the claim instead of doing what they said they would - being to drop it down to 20% then back up to 50% next year.
That - plus the $2,600 excess has put me off.

So went to AA. $730 for the bike with a $300 excess!!!!! All good. Down to about $550 per year if I have a claim free year with them as they do not start you off with an NCB.

They do have a couple of restrictions though - you have to have been riding for 5 years or more plus you have to ensure something else e.g. a car.

So I ensured my car with them as well which is $200 cheaper than my current insurance company - plus I am guaranteed a 65% NCB for life under their new promotion even if an accident is my fault.

All good.

Just have to wait to see what claiming with them is like - touch wood it won't happen....

[Oscar]

Most of these insurance companies I've never heard of.
Kind of worried if I did pick an unknown outfit, they'd go bust or find some small print for not paying up.

I'm insured with AMI.

Who's the best place to get insured with?

Are there any insurance companies which insure your bike for a fixed replacement value instead of this odd idea of market value?

That's an interesting statement.
The insurers mentioned include Vero, who are part of a huge corporation that makes AMI look like the corner store.
All down to perception, eh?

[Oscar]

If yer over thirty, ring Classic Cover in Hamilton (underwritten by NZI/IAG).
I'm in the business and can access mates rates with most underwriters, but I deal with Classic Cover (and I've had a claim there, and they were great).

[vifferman]

So went to AA. $730 for the bike with a $300 excess!!!!! All good. Down to about $550 per year if I have a claim free year with them as they do not start you off with an NCB.

So that would be AMI then?
That's interesting.
I'm with State - have four M/V policies with them, plus house, and contents. The MC one pisses me off though - the premium is OK, but the excess is $1500! I'm (well) over 25, and you'd think with all the policies, some of which date back 25 years, they'd be able to do better then that. I also like the "65% NCB for life" you talked about...

[raster]

[QUOTE=vifferman]So that would be AMI then?
That's interesting.
QUOTE]

AMI and AA Insurance aren't the same.

If you're an AA member you get more discounts with the number of year you've been a member! Also more idiscounts if have car/house/contents with them.

We got Rasters bike covered for about $300 per year, with a excess of $600 that will drop (to $300 I think) once he has had his full for over a year.

Mrs R

[vifferman]

If you're an AA member you get more discounts with the number of year you've been a member! Also more idiscounts if have car/house/contents with them.

That's OK - I've been a member for... dunno... - a while.
And if I change the VFR's insurance, I'll change everything else too. Six policies should make them happy to take me on.

[Death 'N' Taxes]

So that would be AMI then?
That's interesting.
I'm with State - have four M/V policies with them, plus house, and contents. The MC one pisses me off though - the premium is OK, but the excess is $1500! I'm (well) over 25, and you'd think with all the policies, some of which date back 25 years, they'd be able to do better then that. I also like the "65% NCB for life" you talked about...

Nah it's AA. Been a member for 13 years though, so probably gives extra discounts.

The only requirement for the NCB for life is that you are an AA member (or become one), have had full car insurance in you name for more than 5 years, and have not claimed in 5 years. Good deal.

I did approach them a while back though when I was just looking to insure my old car - a 4wd turbo thing - and they quoted $2,000 - which was unbelievable compared with NZI at $500. So i didn't go with them. But this time around is was alot cheaper.
My current car is a Mitsi Daimante at $450 per year. Better than ther other places I called.

The main reason for the shift was the bike though.

[Sniper]

I have mine with National Auto Club. They seem pretty good about it

[mstriumph]

I've just insured my new baby with Swann ----- got a reasonable deal [but i do have max. no claim bonus and a clean record on my car ... apparrantly kangaroos don't count lol]

i'd be real interested to hear how you get on with your claim for the damage you have just done to the red peril?

Swann insurance popular with bikers here and specialises in bikes. Probably the same there.

[Scorpygirl]

I've just insured my new baby with Swann ----- got a reasonable deal [but i do have max. no claim bonus and a clean record on my car ... apparrantly kangaroos don't count lol]

i'd be real interested to hear how you get on with your claim for the damage you have just done to the red peril?

I'm with Swann too for my Virago but Rhino has his two bikes with John Baker, who gives a good deal for Ulysses members.