A quick review on State Insurance...

[Motardman]

I use Classic Cover as State won't cover your bike gear....only your bike. Classic paid out when I wrote off my Blade, no problems at at, new bike and new gear, they're underwritten by Vero.

[NordieBoy]

I use Classic Cover as State won't cover your bike gear....only your bike. Classic paid out when I wrote off my Blade, no problems at at, new bike and new gear, they're underwritten by Vero.

Usually your gear is covered under your house and contents insurance.

[Mikkel]

I've claimed twice (inside 6 weeks ) for riding gear damaged at Levels and Ruapuna respectively.

This was covered by my contents insurance and as such it covers track use as well...

The first time it took a while to get the wheels set into motion - but they were going through some kind of staff training programme at that point and so were under-staffed most of the time. No hassles in the end though - 5% depreciation.

The second time just went through with no hassles at all. And I got full replacement value less my excess - i.e. zero depreciation.

I can only say I'm a happy customer!

[Motardman]

Usually your gear is covered under your house and contents insurance.

It is indeed but do you really want to claim off two insurance policies if you have a smash when one can cover it all?

[Disco Dan]

I've claimed twice (inside 6 weeks ) for riding gear damaged at Levels and Ruapuna respectively.

This was covered by my contents insurance and as such it covers track use as well...

The first time it took a while to get the wheels set into motion - but they were going through some kind of staff training programme at that point and so were under-staffed most of the time. No hassles in the end though - 5% depreciation.

The second time just went through with no hassles at all. And I got full replacement value less my excess - i.e. zero depreciation.

I can only say I'm a happy customer!

I hate the way they take out depreciation. Heck did the shop give you 5% off when you bought your gear??? Heck no. So why should an insurance company that you have paid way more than what you get back, tell you 5% off the price!

You should be able to crash - insurance fix bike, insurance replace your gear. It should be as if it never happened and the customer should not be out of pocket other than premiums.

I guess I keep forgetting they are a business and at the end of the day provide a service in order to make a profit.

[Mikkel]

I hate the way they take out depreciation. Heck did the shop give you 5% off when you bought your gear??? Heck no. So why should an insurance company that you have paid way more than what you get back, tell you 5% off the price!

You should be able to crash - insurance fix bike, insurance replace your gear. It should be as if it never happened and the customer should not be out of pocket other than premiums.

I guess I keep forgetting they are a business and at the end of the day provide a service in order to make a profit.

Well, if a set of leathers have an expected life-cycle of 10 years - if you have used them for 5 years then it is not fair to expect the insurance to buy you a brand new set of leathers. Same goes for just about everything else. Some things are complicated in this regard are things like antiques, items of sentimental value, etc.

Insurance is ultimately not about getting as much back as you're putting in. It's about having security against huge unexpected expenses that would throw your life off track.

However, if insurance companies are less forthcoming than you would like - then it might be worthwhile noticing that not all claimants are either forthcoming or even remotely honest. I prefer that my insurance company practice sane and logical business instead of uncritically throwing money at everyone who file a claim. That way they are not likely to have run out of money when I need their help.

[Pwalo]

Depreciation is a given I'm afraid. Standard accounting practice for any asset valuation.

State were really good when I had my accident. I ended up getting as much back as I paid for my bike originally (obviously it was brand new), and I got back a fair price for my gear. They got my pay out back to me in a couple of weeks, and even gave me a discount on my next bike cover!

[Str8 Jacket]

Depreciation is a given I'm afraid. Standard accounting practice for any asset valuation.

Yep When I wrote of my pratically brand new GN that had 2900 k's on the clock and was just under 2 months old it depreciated by $1500. That was my first experience with insurance depreciation! Funnily enough, State had refused to insure me stating that they didnt insure learner riders with no other history with them, even though I was over 25! Ah well, they must've known something eh!

[Mikkel]

Oh yes, that is another aspect where State was really good to me. I have my contents and car insurance with them.

I approached them with regards to getting cover for my 250 the day before I bought it (the day I sat my learners btw) and asked for a quote on comprehensive cover.
First they quoted something along the line of $600 per year. Then I had a good chat with them about them insuring our car, road experience and me being a reasonable chap - and whaddaya know? They put me on a premium of ~$240 pr year, what I would have gotten if I had had my full license for 8 years. (This is with me being the exclusive rider and a $400 excess $6,000 insured value.)

[geoffm]

Kiwibike have the Beemer ($7k value), RG500 ($7k) and RD350 ($2k) for a total of $800ish. Helps to be much more than 21, ,but even still that is a mighty high quote. What is the value of the cover? I think they are trying to tell you something...
NAC will usually insure anyone, irrespective of the record, with premiums priced accordingly.
I tried e-bike once and they quoted more than AMI (whcih was 1/3 more than Kiwibike) for les cover. Didn't feel the need to investigate them any further...
Geoff

[TOTO]

State were perfect whe I had My claim 2 weeks ago.

They inspected the bike the same day i got it to the shop, gave me a call on the day after to tell me it was a write off.

8 days after that I had money transfered into my account and a new bike a couple of hours later.

I had 75% no claims bonus which fell to 55% after my clam.

I'm so happy with state.
State gets a huge green bling in my book.

Thanks STATE.

[McDuck]

State were perfect whe I had My claim 2 weeks ago.

They inspected the bike the same day i got it to the shop, gave me a call on the day after to tell me it was a write off.

8 days after that I had money transfered into my account and a new bike a couple of hours later.

I had 75% no claims bonus which fell to 55% after my clam.

I'm so happy with state.
State gets a huge green bling in my book.

Thanks STATE.

It is interesting that they appear to be one of the shocking companys a few years ago. Sweet

[skelstar]

I'd like to add: I claimed my riding gear with them and they said they would come back with a quote within a week... the next day they rang with the quote, it being within 80% of the gear's 'new value' minus the excess ($300). Farkin mint and a lot of stress off my mind. They didn't even want the old gear back and weren't bothered that boots and a glove were rattling around the bottom of an ambo somewhere.

[sefer]

I had 75% no claims bonus which fell to 55% after my clam.

You might even get away with the no claims drop. When my car was stolen (around a month ago now) I was told I'd go from 65% (I thought this was the max. How did you get 75%?) to 45%. However I've since looked at the new policy details and they have started doing lifetime no claims (after 1yrs no claim for me, maybe longer if your a new customer), and my current renewal papers (as of last week, but not actually renewed till early July) show me as still having 65%.

Check it out on your policy, it might be worth it

[Strike]

Im also with State, havn't made any claims (for my bike) yet, and with any luck i wont have too (yeah right ) nice to hear some positive stories about claims.