You may be better off if you're NOT insured

[Pancakes]

You don't see nutin'. I was never here. Sorry for not disclosing every detail of what happened. Still don't really know what you were trying to say but thats ok, if aliens come and kill us all in alphabetical order of our KB names you'll still be smiling smugly while I'll be gassy vapour.

[Oscar]

Another 50c and another question for Jetboy

what Jetboy was alluding to in his "I won't go into the behind the scenes workings of insurance" sort of statements is the insurers' "knock for knock" arrangement. I don't want to run it down because at the end of the day it keeps evryones insurance cheaper.

Instead of insurance companies chasing each other for payments and having to deal with the other company's insured party and loss assessor they just cover their own insured's claim and it all averages out at the end of the year. "knock for knock" it doesn't matter who is the guilty party

Now in this case it's a bit different because of the excess over the sum insured. I believe Jetboy is representing the client as his broker (which is a completely different animal to the insurer) and going after the other insurer for the excess.

Somebody made a post about the insurer getting dibs on a chunk of the excess clawed back from the guilty party's insurance. I'd like to see a response to that and a clarification of the boundaries, obligations and niceties of broker acting for the insured "against" the company he's trying to buy cheap insurance off on behalf of the client.

Firstly, the excess is the first part of the loss - therefore it's the first part of the recovery. In other words, the first money that your insurer recovers from the other guy is YOURS.

Secondly, it is my contention that where there is an uninsured loss (aside from an excess), any recovery should be paid based on that ratio.

In respect of "brokers" in this market - be careful. There are very few brokers who can truly claim to have access to the entire market of bike insurers.

[stevensaaron]

If the claim is deemed to be "not at fault" on your part, you would not be penalised.

in the beginning of Nov I was riding along the road on my 'Suzuki GSX 250 Across' when a guy was driving erratically behind me e.g swaying behind me, accelerating behind me. then he passed me on the left hand side of me and got really close to me forcing me to go into the centre road Island that has plants and trees. I was travelling 50 Km in A 50 Km zone. I hit a couple of trees (I was not hurt, thankfully). and he drove off. there was a man walking along the footpath who saw the whole thing happen and ran over to help me pick up the bike. Neither of us were able to get the Registration of the Vehicle. while we were exchanging names and numbers the guy who ran me off the rode had come back. the witness had to go so he left us talking. I asked the driver of the vehicle who forced me off the rode if he had a pen and paper, he went and got one but then asked me what for and I told him it was so I could get his/and vehicle details to claim on Insurance. (no police were involved). The next day I went to make a police report but it was filed and nothing was done about it (something about they don't investiagte insurance accidents). He was and still is claiming it was not his fault. any way I took it to a client from work who does insurance work for a quote assessment. and after a lengthy process of waiting for the Insurance company, They are writting it off they first gave me an offer of $2,500 minus an excess of $500, and me and my dad had a real go at them beacuse it was too low they then offered me $3,500. minus an excess of $500. (I bought it for 4,600 at christmas 2006, 11 months before the accident, I had insured my bike for $4,600 The bike is a '1993 Suzuki GSX 250 Across' when i bought it, it had about 12,000 Kms on the clock and pretty much perfect condition & well serviced, it had about 20,000Km when I had the accident and still in the same condition, how can the 'pre-crash assesors tell what it was like before the crash when all they see is the crashed result?) it's rare bike in New Zealand and I am still not happy with 3,500, I would like to get at least what i paid for it, or no less than 4,000, what can i do about that? Also I shouldn't be paying the excess because it wasn't my fault, but because He isn't claiming Liability (he even told the my insurance that i intimidated him, that's like trying to say that an ant intimidated a lion.) even though I have a witness who said it was his fault, I still have to pay the excess. The driver didn't touch me he just got so close to me, so he didn't have any damage to his vehicle(a 4x4 nissan ute) so he hasn't the need to go to his insurance. What do I need to do? If i have to accept the 3,500 minus 500 excess that they have offered is their any way that i can "sue" the other guy for the loss of my bike value and excess.
also what is supposed to happen to the bike after they write it off? They are saying that if i want the bike back It will cost me $200
I am insured through a brokerbut i think that i might speak direct to the insurance company.

cheers
Aaron.

[fredie]

i was taken out by a small truck . i went too hospital . cops left my bike on the footpath. then bike gets stolen . uninsured . but truck driver fully insured. cops gave him a ticket bike gone forever never found trucks insurence would not pay for bike . because they could access itthat sux

[stevensaaron]

I think the insurance company that the broker goes through is NZI. I think that i might threaten to close my cover with them and go some where else if i don't get the result that i am after. the main thing that i am really angry with is that the driver is saying that he is not at fault and even though i have a witness that says he is I am the one who has to do the running aound. The broker said that if i din't like the result that I need to go to the disputes tribunal, They aren't trying to help me at all, they are just taking my money and then try to screw me with pathetic offers. All while the driver is having nothing done to him. and he still gets to drive his car, while i am waiting to get another bike. I don't mind it being written off, I was going to sell it soon anyway, I am going to get a Hyosung GV250 So i need all the money I can get.

[Edbear]

...State are a bunch of lying cheating cunts who'll try to get away with anything and everything.

Not always, you've made a sweeping defamatory statement here and as many others have pointed out, Klingon made a judgement call that didn't "pay off" at claim time.

We've been with State since Adam was a cowboy and have had nothing but the best treatment from them in circumstances that totally relied on them taking my word without evidence.

The only item not with State is my bike due to them being uncompetitive, and Jetboy giving us a very good deal.

I sympathise with you Klingon, but Insurance, like any contract has fine print and you need to know what you're signing. In my field, I have to advise people of what they actually have, and it is often very different from what they thought they had.

With vehicles, all insurance companies will pay current market value or insured value, whichever is the lesser, unless you have an "agreed value" or "total replacement with new" policy.

[Matt_TG]

I sympathise with you Klingon, but Insurance, like any contract has fine print and you need to know what you're signing. In my field, I have to advise people of what they actually have, and it is often very different from what they thought they had.
.

In today's market most policies are written in quite a user-friendly way. What they will and won't cover is all there in the policy, and the schedule that lists your bike will have the amounts or basis it's insured on.

People seem to forget that when they buy insurance they are entering into a contract with someone, that sets out the terms of what will happen if you make a claim, right at day one. In fact when you sign you declare that you have read and understood the Policy wording. If you haven't, then read before signing!

If you won't read it cause it's all just too hard, then you are your own worst enemy.

Edbear's comments about Market Value vs Agreed Value are spot on, too.

[Oscar]

I think the insurance company that the broker goes through is NZI. I think that i might threaten to close my cover with them and go some where else if i don't get the result that i am after. the main thing that i am really angry with is that the driver is saying that he is not at fault and even though i have a witness that says he is I am the one who has to do the running aound. The broker said that if i din't like the result that I need to go to the disputes tribunal, They aren't trying to help me at all, they are just taking my money and then try to screw me with pathetic offers. All while the driver is having nothing done to him. and he still gets to drive his car, while i am waiting to get another bike. I don't mind it being written off, I was going to sell it soon anyway, I am going to get a Hyosung GV250 So i need all the money I can get.

I copied this from the other thread, in case you missed it.

1. You probably shouldn't have to pay the excess. Most insurers have a rule that if an "at fault" third party is identified, the excess is waived. However bear in mind that the excess is the uninsured portion of this risk that you accepted when signing the proposal, so you can't make them act on this issue. Having said that, whereas you are out of pocket, the insurer has a lot more to loose - why aren't they going after the third party?

2. Generally, when the settlement amount is in dispute there is a procedure whereby you are able to value the bike by getting your own dealers estimates. Ask the assessor.

3. Apart from the expensive option of a Solicitor, you might like to try other cheaper options first - the Insurance Ombudsman and the Small Claims Tribunal.

4. There are Brokers and Brokers. Some are just Life Insurance guys trying to upspec their image, and some are flogging a particular policy in an effort to maximise their business (and consequently their brokerage) with that particular insurer. Go direct to the insurer, as that is guaranteed to piss off the claims department.