Insurance premiums - have they suddenly jumped up?

**Idubbs** · 26th November 2010, 10:35

Just having received a renewal notice from my usual bike insurer for the last 10 years, I suddenly noticed a big hike in premium costs. Not having any claim since the last renewal I'm just wondering if anyone else has noticed the same. Granted, I've updated the bikes over the last year or so, and I wonder if it's merely revaluation creep on each upgrade. Anyways..... going online to get a few quotes, several of the main contenders known to KBers seem to be within cooee of each other, but I do notice that Protecta is significantly lower......

My question is.... those out there that have Protecta as their insurer, are they happy with them in terms of (a) price and cover, (b) customer service (c) ease of claim? Your thoughts please....?

**steve_t** · 26th November 2010, 10:43

Not sure about Protecta but yes, insurance has been creeping up but also as of 1 October, there was another levy or fee added that raised premiums again by a greater amount

**p.dath** · 26th November 2010, 10:50

Don't forget that because of the GST increase everyone's private insurance should now cost more.

**Juzz976** · 26th November 2010, 11:30

Originally Posted by p.dath

Don't forget that because of the GST increase everyone's private insurance should now cost more.

by 2.22% increase though, its hardly much of the difference.

**porky** · 26th November 2010, 11:57

Also on the hunt for another insurer. Excess and premiums are way better for me. Interested to read in the fine print about bikes with no WOF and Rego...... under exclusions. So will watch this space as to what people have to say about this crowd.

**Juzz976** · 26th November 2010, 12:13

Swann was good when I had my FZR it was an 88 so had 'classic cover' $ 260 pa.

Although now I have the 98 TL-R its $ 560 pa.

Both full cover, over 25, no claims, 1 x roadside suspension (excess speed) + 3 speeding fines.

**davebullet** · 26th November 2010, 14:48

I used to work for State and heard the premiums were going to be whacked up a fair bit.

Knowing that their data quality is poor - I think it is largely a knee jerk to ACC levy increases. In other words if ACC is charging more - motorcyclists are costing more - so whack up the premiums.

Insurers are quite dumb in that they tar us all with the same brush. They don't really understand customer risk. All they go by is no claims / traffic infringements in the last 5 years which is a crude tool.

TIP: Pay annually - you'll get charged up to 10% more for instalment based premiums.

**Pogo2** · 26th November 2010, 16:50

for example
my 400cc scooter for $7K full at $430 plus about $500 excess (insured with Swann)
my 800cc cruise for $12k full for $408 plus $250 excess (insured with Protecta)

Was quite suprised. Maybe because there less plastic or something.

Check it out with Dave at Kiwibiker Insurance, good company to deal with.

**The Everlasting** · 26th November 2010, 19:19

Yeah have noticed a slight increase,but that's most likely gst etc....

**That looks like fun** · 26th November 2010, 20:12

Try NAC, they make me smile and thats pretty hard for an Insurance Company to do

**Hopeful Bastard** · 26th November 2010, 20:35

With state, And have actually noticed it has dropped..

**Idubbs** · 26th November 2010, 21:32

Hmmm..... I guess you also have to be mindful to revalue your bike each year as it depreciates. That should theoretically lower the premium. Coming back to the op, I've got 2 road bikes and a scooter to insure as a package. A few years back when I took out the policy my insurer acknowledged that because I can only ride one bike at any one time the package deal will be discounted. Now, when I use the the online calculator from couple of the insurers the total for three separate policies is cheaper than what my insurer is asking!

Because the Protecta quotation is at least 25% cheaper than the others, I'm wondering whats the catch? Anyone know something that I don't....?

**TimeOut** · 27th November 2010, 06:02

I've just changed to Protecta (through Kiwibike) $398 full cover, Vero were wanting $600

Kiwibike said they were just as good to deal with (claims wise) as other companies.