Insurance for the bike

[Boob Johnson]

Hey Boob
i rang up AMI as other insurance with them, for when i get my 250 and they stated would be about $450 per year and then would go down over $100 next year after having ridden for 12 months and having full licence. They stated that the highest risk time was the first 12 months hence the higher fee. Other option was third party which was like $45 for the year. That quote was for a bike valued around $3000.
By the way i am 40, but the age appeared irrelevant (heheh the way i like it) due to being on a learners licence. Think would be similar for all insurance. Hope that helps

Yeah cheers for that mate. Im thinking along the lines of third party, mainly for theft.

If your bike is 20 years old and not a "classic" or performance machine, is full insurance going to be worth it over the time span of your ownership? Maybe 3rd party might be more economical. I am no expert( on any subject whatsoever ) but realise that it can be hard to pay premiums for a few years on something that is devaluating fast and taking into account any excess etc.
Having said all that I am insured through Protecta and pay $653 per year which theoretically insures "full cover" for a bike worth about $9k. Dont know how that stax up with others.

Yeah as mentioned above, not that keen on paying for full insurance. Seems like a major waste of money in this price range of bike.

[Steam]

Im thinking along the lines of third party, mainly for theft.

Tell me, how would 3rd party insurance help you in case of theft?

[Boob Johnson]

Tell me, how would 3rd party insurance help you in case of theft?

Are you suggesting theft isn't covered in 3rd party?

Last time I had 3rd party insurance it covered fire and theft (on a car)

[jetboy]

Are you suggesting theft isn't covered in 3rd party?

Last time I had 3rd party insurance it covered fire and theft (on a car)

Third Party Only cover does not cover your bike at all (unless you have an 'innocent party protection' or 'uninsured 3rd party protection' clause somewhere in your policy), it only covers your liability to any third party property you may damage.

Third Party Fire and Theft will cover your bike only if it is damaged by fire/theft or its stolen, along with the liability section.

[crazybigal]

your paying too much! you should be able to get at least $500 a year on 10k
call kiwibike 0800 629 253

If your bike is 20 years old and not a "classic" or performance machine, is full insurance going to be worth it over the time span of your ownership? Maybe 3rd party might be more economical. I am no expert( on any subject whatsoever ) but realise that it can be hard to pay premiums for a few years on something that is devaluating fast and taking into account any excess etc.
Having said all that I am insured through Protecta and pay $653 per year which theoretically insures "full cover" for a bike worth about $9k. Dont know how that stax up with others.

[kiwifruit]

your paying too much! you should be able to get at least $500 a year on 10k
call tim 0800 65 62 64

[bert_is_evil]

I'm with AMI and they have been great, I shopped around and their premiums were the cheapest at the time and I've never had a problem with a claim. Also have my contents with them and they have replaced several helmets and a couple of jackets under that policy, even let me hang onto them for a little while while I found replacements which was nice.

[YLWDUC]

+1 more for KiwiBike

Easy to deal with, only one rate for Nth Island, they accept your no claims bonus from car insurance(which is good for new riders like me!) and now since I've moved to auckland, a cheaper premium for my $6.5k bike than for my $5k car!

[Boob Johnson]

Third Party Only cover does not cover your bike at all (unless you have an 'innocent party protection' or 'uninsured 3rd party protection' clause somewhere in your policy), it only covers your liability to any third party property you may damage.

Third Party Fire and Theft will cover your bike only if it is damaged by fire/theft or its stolen, along with the liability section.

Not sure if you read what I said properly but I said I would be happy with insurance for theft. 3rd party insurance covers that as far as im aware.

[jetboy]

Not sure if you read what I said properly but I said I would be happy with insurance for theft. 3rd party insurance covers that as far as im aware.

All I am saying is there are two types of "third party" covers available. Third Party Only will not cover you for theft, whereas Third Party, Fire and Theft will.

[phantom]

Insured my last two bikes through KiwiBike but haven't had to make a claim so cant comment on the service you get from the actual insurance company as KiwiBike is just a broker. They are pleasent and easy to deal with though

[magicfairy]

Something to think about before you opt for 3rd Party Fire and Theft only.

I have seen quite a few threads when bikers with only 3rd Party Fire and Theft have been taken out by an uninsured driver, who is at fault, (or even an insured one)
Because the bike isnt covered by comprehensive cover, it is up to the biker to pay a lawyer or try themselves to claim in court to get the damages from the uninsured driver (who will no doubt be on a benefit, driving a car that isn't registered or warranted and can only pay back at $10 a week) or try and convince the drivers insurer to pay out. No doubt the other insurer wil try and wriggle out saying "our client claims it is not his fault"

One big advantage of having full cover is that your insurance company will pay out and they will wear the cost / hassle of getting the money out of the "at fault" driver.

It is appalling that in this country 3rd Party cover is not required before you can put a vehicle on the road. Other countries do.

[sels1]

It is appalling that in this country 3rd Party cover is not required before you can put a vehicle on the road. Other countries do.

I agree - should be compulsory.

Despite having House/car/contents with AMI, (and otherwise very happy with their prices and service) they were still more expensive than going thru Kiwibiker Ins.

[jetboy]

Something to think about before you opt for 3rd Party Fire and Theft only.

I have seen quite a few threads when bikers with only 3rd Party Fire and Theft have been taken out by an uninsured driver, who is at fault, (or even an insured one)
Because the bike isnt covered by comprehensive cover, it is up to the biker to pay a lawyer or try themselves to claim in court to get the damages from the uninsured driver (who will no doubt be on a benefit, driving a car that isn't registered or warranted and can only pay back at $10 a week) or try and convince the drivers insurer to pay out. No doubt the other insurer wil try and wriggle out saying "our client claims it is not his fault"

One big advantage of having full cover is that your insurance company will pay out and they will wear the cost / hassle of getting the money out of the "at fault" driver.

It is appalling that in this country 3rd Party cover is not required before you can put a vehicle on the road. Other countries do.

This is where having a broker comes into play. We work for you, not the insurance company. At the brokerage where I work we have an in-house claims department who do all the running around for you. In the example above, if you only had Third Party Fire and Theft you could still call us and although we may not be able to handle the recovery on your behalf, we can certainly point you in the right direction and advise you on the best course of action.

Remember, as brokers we work for you - not the insurer.


EDIT: In several motorcycle policies there is an "uninsured third party" clause which, should you be taken out by an uninsured third party, will pay you a certain sum for any damage you may have.

If you want more info PM me and I'll be more than happy to help out

[mazz1972]

I can also recommend Kiwibike, they got me insurance for my 06 Sherpa through Swann Insurance.

The ONLY thing I wasn't happy with, which probably was just poor timing, was between the time I got the quote, and accepted the insurance, Kiwibike had changed over to an online (I assume between themselves and Swann Ins) and when they input all the details, the price was actually $150 more.

However it was still MUCH cheaper than other options I'd explored (ebike, star, AMI, etc, and I don't meet Classic's criteria yet!) so I took it. I think the total cost was $484 for the 06 Sherpa insured for $7K, but I also only had my learner licence. Now got my restricted and hoping it will go down substantially once I get my full. (They also insured my previous bike at the lowest rate too).

In checking out prices the first time round, I found many insurance companies will not insure a motorcycle unless you have other policies with them too (seems to apply to trailers also).