The definitive motorcycle insurance thread

[Ender EnZed]

some people on here make claims to have really cheap insurance (e.g. $438 / year)

That price was for a 2004 CBR1000, maybe worth $7k. You want to insure a 2013 bike worth $34k.

Given that you would expect the premiums to be related to the amount insured; your $770/year doesn't seem too unreasonable.

[Griffin]

That price was for a 2004 CBR1000, maybe worth $7k. You want to insure a 2013 bike worth $34k.

Given that you would expect the premiums to be related to the amount insured; your $770/year doesn't seem too unreasonable.

And that's great news - it is information like that which helps new insurance purchasers make their minds up. But when you ask questions in these forums and you are ignored, it makes for a frustrating experience. I was under the impression these forums were in part for the sharing of information amongst people with similar interests. When said people have been online a few times and not bothered to give any info on a topic they have previously made statements in... it... is... frustrating! and leads you to come up with your own conclusions.

[Oscar]

That price was for a 2004 CBR1000, maybe worth $7k. You want to insure a 2013 bike worth $34k.

Given that you would expect the premiums to be related to the amount insured; your $770/year doesn't seem too unreasonable.

The sum insured is only one of the factors used in rating the premium (so the cost for a 10k bike wouldn't be half the cost of a 20k bike).

There will be a base premium, which is adjusted using factors such as the sum insured, rider age/experience and bike type (some times engine size and sometimes bike usage).

[cynna]

And that's great news - it is information like that which helps new insurance purchasers make their minds up. But when you ask questions in these forums and you are ignored, it makes for a frustrating experience. I was under the impression these forums were in part for the sharing of information amongst people with similar interests. When said people have been online a few times and not bothered to give any info on a topic they have previously made statements in... it... is... frustrating! and leads you to come up with your own conclusions.

do you try quoting or sending a private message. doesnt take much to miss a question on here, often can get lost in the thread. not everyone reads every single post

[Griffin]

do you try quoting or sending a private message. doesnt take much to miss a question on here, often can get lost in the thread. not everyone reads every single post

Hi, yes... I replied to a post using "reply with quote". I wouldnt expect an answer if I hadnt made an effort to ensure the person being asked was aware of it.

No bother now though. Insurance sorted. Rant done. Now I just need to find time to ride.

[willytheekid]

Im with Kiwibike / Star insurance....$55 a month for comprehensive cover (Bike & gear etc)

My ONLY concern with my policy is where is states they will replace my bike and gear @ "market value"...and not the "agreed value"

This is a major concern to me as I own a 18yr old VFR750, which (including all my gear) I have set the value at $6k all up (I figured $1500-2k for all my gear, & $4500-5k for the bike)

I can just see an issue if I ever need to claim, as an old VFR with 120k on the clock is worth sweet piss all "At market value", and the policy just leaves a big wide open door for them to step through and say, "thanks for paying for $6k worth of cover...heres $2k...at market value!"

Hence this present cover has me rather concerned as they WILL seek the cheapest option regarding a payout if any claim is ever lodged...and we all know who wins in a fight with an insurance company!

Im going to call them today to discuss this, but in the mean time, anyone else worried about the difference between "Market value" & " Agreed Value"

...Anyone know if classic cover or anyone else does "Agreed value" cover?

[Corse1]

Im with Kiwibike / Star insurance....$55 a month for comprehensive cover (Bike & gear etc)

My ONLY concern with my policy is where is states they will replace my bike and gear @ "market value"...and not the "agreed value"

This is a major concern to me as I own a 18yr old VFR750, which (including all my gear) I have set the value at $6k all up (I figured $1500-2k for all my gear, & $4500-5k for the bike)

I can just see an issue if I ever need to claim, as an old VFR with 120k on the clock is worth sweet piss all "At market value", and the policy just leaves a big wide open door for them to step through and say, "thanks for paying for $6k worth of cover...heres $2k...at market value!"

Hence this present cover has me rather concerned as they WILL seek the cheapest option regarding a payout if any claim is ever lodged...and we all know who wins in a fight with an insurance company!

Im going to call them today to discuss this, but in the mean time, anyone else worried about the difference between "Market value" & " Agreed Value"

...Anyone know if classic cover or anyone else does "Agreed value" cover?

Gear is devalued rather quickly and heavily. I am with Kiwi bike but with no gear cover. You are able to use your house hold insurance for gear. I managed to argue with state over value and depreciation and recovered some of the value but shit I still felt ripped off.

[caseye]

Willy, Swann will cover you for a lot less than that and it includes gear, track days and I'm sure it's for agreed value, give em a call mate.She's worth heaps more than 2 K.
It is their classic cover policy that you want. Coal burner for 4.5 at $250 odd other 2, also classics $1 hundy each for same value of cover as CB.Can't complain and have had a claim when Ratbag got taken out by car parts on road, they paid quickly and sorted everything well.

[willytheekid]

Willy, Swann will cover you for a lot less than that and it includes gear, track days and I'm sure it's for agreed value, give em a call mate.She's worth heaps more than 2 K.
It is their classic cover policy that you want. Coal burner for 4.5 at $250 odd other 2, also classics $1 hundy each for same value of cover as CB.Can't complain and have had a claim when Ratbag got taken out by car parts on road, they paid quickly and sorted everything well.

You beauty mate

[irsh]

Hi if you wanted to set up motorcycle or scooter tours around a city what kind of insurance would you need ? is there anyone in particular that specialises in this ?
cheers

[russd7]

Gear is devalued rather quickly and heavily. I am with Kiwi bike but with no gear cover. You are able to use your house hold insurance for gear. I managed to argue with state over value and depreciation and recovered some of the value but shit I still felt ripped off.

problem with having gear covered under household cover is that you end up paying two excesses, as for devalued gear, when my bike leathers got stolen in a burglary a few year ago the insuance offered to pay out in full based on a photo of the gear i had, they only had to pay out half under the policy.

[jafa21]

Hey All,
This is my review for Swann Insurance.
I am insured with Swann Insurance through Kiwibike.
I recently crashed my bike on 14th Dec.
From a friend I knew Red Baron is not the best place to get your bike assessed for damages. So i rung around and CycleSpot promised me they can get the bike assessed in 24 hrs (their bit). So i decided to get it towed to them to get it assessed. They delivered on their promise. But they had to wait for the official dealer to get back on prices for parts to prepare the quote. That turned out to be Red Baron. And ended up taking a few days. Anyway in the meantime i kept in touch with the insurance and kept hassling them to make sure my claim goes through as fast as possible. Within 2 weeks they came back with a offer which i declined. It was 30% lower than i expected/insured for. They also sent me the evaluation they got done from an independent place. It wasnt a bike dealer. it was done by a private evaluation company called banks valuation services. I rang the insurance and told them i wasnt happy with the proposal. They said you are most welcome to get your own quotes and send it to us. So over a week i got 3 quotes for the price i had the bike insured for. Forwarded the emails to the insurance and they took the average of the 4 evaluations including their one. I couldn't get them to take out their original evaluation. But the new offer ended up being very close to what i had insured for. I was happy with the result.
In the end i got the money in 3 weeks from the day i crashed. Considering the holiday break and everyone being very busy as its crashing season i am happy with the speed of the insurance and cyclespot.
My friend is insured with Star and in his claim his insurance company got 3 quotes from dealers which were very close to what he had it insured for. So it would be nice if Swann did that too. I am not saying i should get what i insured for but one evaluation from random evaluation compared to 3 quotes from dealers isnt as good.
They also paid me out for the gear. They cover upto 3500 in gear.
My new quote for my new bike is higher with swann than star but i think i still will go with swann as they cover 3500 in gear and their excess for street and track days is a lot lower than star.

Anyway welcome to ask questions.
I have left out the details of the bike, crash, money etc to avoid any conflicts/arguments/judgements.

Chow

[Owl]

They also sent me the evaluation they got done from an independent place. it was done by a private evaluation company called banks valuation services. I rang the insurance and told them i wasnt happy with the proposal. They said you are most welcome to get your own quotes and send it to us. So over a week i got 3 quotes for the price i had the bike insured for.

Not uncommon at all and bear in mind, that the independent valuer is working for the insurance co.

Had a similar experience involving a car and Lumley. Their value $3500.....ours $8000/$7000/$6500. Highest and lowest were dropped and the other two averaged.
What pissed me off though, was that their valuer actually worked as a tow truck driver and was a former car dealer. Not only that, but often he'd just send his wife around to take pics of the vehicle and base his value off pics without ever seeing the vehicle.

Glad it all worked out for you though!

[MrItalian]

Hey All,
This is my review for Swann Insurance.
I am insured with Swann Insurance through Kiwibike.
I recently crashed my bike on 14th Dec.
From a friend I knew Red Baron is not the best place to get your bike assessed for damages. So i rung around and CycleSpot promised me they can get the bike assessed in 24 hrs (their bit). So i decided to get it towed to them to get it assessed. They delivered on their promise. But they had to wait for the official dealer to get back on prices for parts to prepare the quote. That turned out to be Red Baron. And ended up taking a few days. Anyway in the meantime i kept in touch with the insurance and kept hassling them to make sure my claim goes through as fast as possible. Within 2 weeks they came back with a offer which i declined. It was 30% lower than i expected/insured for. They also sent me the evaluation they got done from an independent place. It wasnt a bike dealer. it was done by a private evaluation company called banks valuation services. I rang the insurance and told them i wasnt happy with the proposal. They said you are most welcome to get your own quotes and send it to us. So over a week i got 3 quotes for the price i had the bike insured for. Forwarded the emails to the insurance and they took the average of the 4 evaluations including their one. I couldn't get them to take out their original evaluation. But the new offer ended up being very close to what i had insured for. I was happy with the result.
In the end i got the money in 3 weeks from the day i crashed. Considering the holiday break and everyone being very busy as its crashing season i am happy with the speed of the insurance and cyclespot.
My friend is insured with Star and in his claim his insurance company got 3 quotes from dealers which were very close to what he had it insured for. So it would be nice if Swann did that too. I am not saying i should get what i insured for but one evaluation from random evaluation compared to 3 quotes from dealers isnt as good.
They also paid me out for the gear. They cover upto 3500 in gear.
My new quote for my new bike is higher with swann than star but i think i still will go with swann as they cover 3500 in gear and their excess for street and track days is a lot lower than star.

Anyway welcome to ask questions.
I have left out the details of the bike, crash, money etc to avoid any conflicts/arguments/judgements.

Chow

+1 for the review. I'm insured with them also though KiwiBike Insurance brokers. I havent had any claims yet but heard a lot of good things about them.

Not uncommon at all and bear in mind, that the independent valuer is working for the insurance co.

Had a similar experience involving a car and Lumley. Their value $3500.....ours $8000/$7000/$6500. Highest and lowest were dropped and the other two averaged.
What pissed me off though, was that their valuer actually worked as a tow truck driver and was a former car dealer. Not only that, but often he'd just send his wife around to take pics of the vehicle and base his value off pics without ever seeing the vehicle.

Glad it all worked out for you though!

that valuer sounds like a D'bag. I bet ya his wife is on her way to be a pro motorbike photographer by now

[Marmoot]

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