Drivers face compulsory third-party insurance

[Ixion]

Not true!!! Quotes for my bike ranged between $850 and $2300 last year and I'm now paying $560.

And you still reckon insurance companies aren't crooks !

[skidMark]

...I am so fucked.

[Owl]

And you still reckon insurance companies aren't crooks !

I never said that Ixion! Those quotes were for comprehensive insurance based on $17000. Many of them were ridiculous figures! Third party will only be a fraction of that.

[nick69]

Driving and riding is a privelege not a right as some think. Yes it is expensive and if you can afford to have multiple cars and bikes then you should pay for the right to use them. Coming from the UK i could never understand why we dont have compulsory insurance, in the UK we dont have problems worrying about who is insured and not. I had a hit and run some years ago and we never found out who it was but my insurance company paid for the damage under no blaim claim, brilliant! I really dont understand people stating that it is not a good idea, it will certainly sort out the idiots with those souped up cars. It will be good to price these idiots off the road, its stupid that we allow 15 year old in what ever they want to drive and then when they wipe out a family say never mind its an accident. NO its not it could have been avioded. We should look to the UK for the law, there if you dont have insurance (done at a roadside check with the insurnce database) the the xar gets impounded, 2nd time and it gets crushed! bloody excellent will stop all these people who want to dodge paying and will get some crap cars off the road. Have no problem in compulsory insurance as i wouldnt have my cars and bikes without it and before people start jumping up and down i have 2 cars and a bike (all insured).

[swbarnett]

That's a cage. And for someone already insured. try a bike.

No, that was specifically for a bike.

[jonbuoy]

Insurance will stay reasonable as long as NZ keeps the ACC compensation rule - it went crazy in UK and OZ after the "no win no fee" companies set up. People started suing each other left right and centre for "whiplash" every time they had a prang.

[swbarnett]

That's a cage. And for someone already insured. try a bike.

I just tried it again stating no previous insurance, same results.

Also, I tried it with a learner licence and a 250cc, same result - $130 per annum third party only.

[fergie]

nothing will change in this household, all our vehicles are reg'd,wof'd and insured so same old same old.i welcome the proposed change.

[Guided_monkey]

So if this becomes law will the premiums drop???

Or is this another excuse for a private sector to make more money on the back of a good idea.

[Dodger]

So if this becomes law will the premiums drop???

Or is this another excuse for a private sector to make more money on the back of a good idea.

Yes?
(If I could predict the future I would be rich.)


My guess is that premiums will go up. If you can charge something and people will pay it, why lower the price? (look at NZ broadband, Cellphone calls)

[Jantar]

...Yes, they'll insure anything AT A PRICE. But the price is clearly more than they can risk putting up in public. I'm sure that for $10000 a year I can get third party. ....

Ixion, I've just recieved the account for the next 12 months premium for my RE5. Its a similar age and value as your Petal, and I'm paying $399.72 pa for comprehensive insurance.

I will admit that it is exactly double the premium I pay for my Chrysler.

[YellowDog]

If the insurance companies attempt to expoit this situation, then that is a totally different issue and you should take this up with your MP.

NZ 20 years ago, then yes the insurance companies would exploit this situation. NZ today is a great deal more competitive, hence the wide variance in quotes.

Buyers beware and don't be a complete mug by paing more than you have to.

[Mikkel]

Anyone who chooses to not get at least 3rd party insurance on the basis of "I have never had an accident and therefore never will..." are only exercising arrogance of the highest degree. It is bullshit and we all know it! -Shit WILL happen and to err is human. Not accepting this and acting responsibly in that regard is inexcusable!

That leaves us with the "I honestly don't give a fuck about anything but my wallet - so I'll just take my chances" attitude for reasoning...
How is this much different from the bulletproof attitude that is common among young bold motorcyclists? An attitude that seems to be generally frowned upon by the collective assembly that is KB...

well, I am a communist, and I do indeed have a very deep hatred towards big corporations. Sort of goes with the territory. Don't think you can be a communist and approve of big corporations.

A communistic regime is just ONE BIG cooperation that doesn't work properly...

Bit of selective quoting there, Ixion. I just tried an online quote for my 1982 GS1100GK and what is says is:
"Due to the age of your motorcycle we are unable to provide you with an Online Quote. Please contact Swann on 0800-807-926 if you still wish to proceed with a quote for your motorcycle insurance."
So you can ring them to discuss, doesn't say there is a blanket refusal to insure older bikes.

Shhh - that's entirely too much sense for one post


As for insurance prices - consider these numbers:

Me: Male, 27 years, no claims or accidents worth mentioning, 40 demerit points in two speeding offenses (14 and 18 km/h above the limit respectively).

Comprehensive cover:
1989 ZXR250 insured at $6,000 - Premium: $204,00 p.a. excess: $400.
1996 ZX7RR insured at $7,000 - premium: ~$330,00 p.a. excess: $250(can't ride it legally until I get my full class 6).
1998 Legacy GT-B insured at $12,500 - premium: ~$600 p.a. excess: $400.

Yeah, protecting your assets is terribly expensive

With more even years of awesomeness I suspect it should be possible to reduce those numbers a bit more. Then again maybe the insurance companies realise that risk doesn't decrease with age beyond a certain point (deterioration of eyesight, reaction time and mental acuity might factor into this).

Or perhaps it has something to do with the fact that there are external factors that actually doesn't depend upon your skills at operating a vehicle, factors that are beyond your control, factors that means shit can happen no matter how AWESOME you might be...

I can't wait for this to become legislation!

[Ixion]

Anyone who chooses to not get at least 3rd party insurance on the basis of "I have never had an accident and therefore never will..." are only exercising arrogance of the highest degree. It is bullshit and we all know it! -Shit WILL happen and to err is human. Not accepting this and acting responsibly in that regard is inexcusable!

With that attitude , I can guarantee that you will indeed crash. The only question is when. When you do, you may find that property insurance is irrelevant. To all except your executors.

I suggest that you give up motorcycling and buy a nice safe car.

[Mikkel]

With that attitude , I can guarantee that you will indeed crash. The only question is when. When you do, you may find that property insurance is irrelevant. To all except your executors.

I suggest that you give up motorcycling and buy a nice safe car.

I suggest you start learning to read.