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+--- Thread: e-bike insurance (/showthread.php?tid=9856)
RE: e-bike insurance - Volvi - 23-06-2008
Some questions I put to them:
Quote:Some further questions that need clarification:
Do Camera fines constitute 'Convictions'?, In todays world they are prolific. I cant recall dates of them. There would have been a couple of 1 pointers in the last 5 years. Are these to be declared?
If my bike is insured for $12.500 and market value is alot less then that, so what would be the payout figure in a total loss situation? Agreed value or Market value?
Are first bought premiums with yourselves "most" favorable only to entice a customer on board then renewals are not priced on the same level. As Shannons have been practicing lately.
And lastly, how long has eGroup been functioning in Australia? also doing most of your business on the internet, how does one know you will still be around in a year?
Thanks
Volvi
Hi Volvi,
Thank you for your enquiries.
Yes, Camera fines are class as driving convictions and need to be listed on your policy, if you are unsure of your driving history you may want to contact your local transport authority.
We only offer Market Value; the value of your bike would be established by the claims management team in the event of a total loss.
We don’t have any intentions of raising your premium excessively at renewal; obviously rates will be reviewed throughout the year.
eBike has been in Australia for the last 2 years, the company is well established in the UK and hence branched out to Australia and NZ.
Kind Regards
Kylie Ogilvie
E Group Helpdesk Team Leader
AUSTRALIA
Humm market value has me bit worried. If Redbook says say $6000 then why insure for say $12.000? By the same token if repairs amount in excess of $6000 which wouldnt be to hard, then they can write it off, give customer 6 then claim and own the unit themselves.
Redbook:1999 SUZUKI HAYABUSA 1300
Trade in price guide $4,500 - $5,300
National average price - private sale $6,400 - $7,600
Price when new (RRP) $17,490
Market value might kill the deal for me.
RE: e-bike insurance - simmo - 23-10-2008
Hi Volvi
I joined eGroup today but I’m going to stay with Shannon’s now,
My son is insured with them now because he is only 17 and also got a good price around 1/2 off compared with everyone else, I have not heard of any problems with then, but they are a offshore company if something goes wrong with a claim you may be up the creek without a paddle
RE: e-bike insurance - Volvi - 23-10-2008
well market value killed the deal with eGroups for me, it just isnt worth it. In fact Im now on my 7-8th year of 'self insurance' read no insurance, but Im not bothered. I definately would feel diferently were it a new bike, insurance then is a must.
ps. agreed value would be able to replace my bike with another but not market value Id lose out big time........so no insurance for me - may the Gods of speed be kind!
RE: e-bike insurance - Louwai - 15-11-2008
Just renewed my insurance with e-bike.
Have had one claim during last yr which was paid, & have added some accessories.
Premium went up $60 (which was expected having had a claim) but I'm still under $300 for full comp.
RE: e-bike insurance - pan - 16-11-2008
I just insured with e-bike. They did an "agreed value", not market value...
They also include (free) a nation-wide roadside assistance which includes accommodation, etc if you get stranded...
PM me if you want the contact details of the person I spoke to (Charli). She was very helpful.
RE: e-bike insurance - simmo - 16-11-2008
pan Wrote:I just insured with e-bike. They did an "agreed value", not market value...
They also include (free) a nation-wide roadside assistance which includes accommodation, etc if you get stranded...
PM me if you want the contact details of the person I spoke to (Charli). She was very helpful.
With your oil leaks Pan that's a great investment
RE: e-bike insurance - pan - 16-11-2008
simmo Wrote:pan Wrote:I just insured with e-bike. They did an "agreed value", not market value...
They also include (free) a nation-wide roadside assistance which includes accommodation, etc if you get stranded...
PM me if you want the contact details of the person I spoke to (Charli). She was very helpful.
With your oil leaks Pan that's a great investment
Dammit, I told you that stain was from my undies!
RE: e-bike insurance - pan - 19-11-2008
pan Wrote:I just insured with e-bike. They did an "agreed value", not market value...
They also include (free) a nation-wide roadside assistance which includes accommodation, etc if you get stranded...
PM me if you want the contact details of the person I spoke to (Charli). She was very helpful.
UPDATE
They discussed "Agreed Value" over the phone and I clarified it both in relation to the car and the bike...
...then I paid...
and a week later the paperwork arrived saying they only cover "Market Value"...
...so I emailed them and got a phone call stating they only cover Market Value and that the sales rep wouldn't/shouldn't/couldn't have said Agreed Value...
...so I'm starting to challenge them and we'll see how it goes.
Note: I have a Subaru Impreza WRX 2002 model.
Was insured with GIO Market Value of $27,000
E-Insurance Market Value is $15,000, so I spoke to them and they said they'd cover it for $27,000, only to be told they wouldn't after I paid!
RE: e-bike insurance - Louwai - 19-11-2008
All those conversations should be recorded Pan.
Sounds like you've got a good case against them.
RE: e-bike insurance - pan - 19-11-2008
Louwai Wrote:All those conversations should be recorded Pan.
Sounds like you've got a good case against them.
Yeh! It worked!
I emailed them and they called back within the hour to say they would honour it. I got Agreed Value on both bike and car, though they said they'd do it for 12 months only.
I DID ask them to put it in writing so I'll wait and see. Will keep you posted!
RE: e-bike insurance - Louwai - 19-11-2008
pan Wrote:Louwai Wrote:All those conversations should be recorded Pan.
Sounds like you've got a good case against them.
Yeh! It worked!
I emailed them and they called back within the hour to say they would honour it. I got Agreed Value on both bike and car, though they said they'd do it for 12 months only.
I DID ask them to put it in writing so I'll wait and see. Will keep you posted!
My bike policy does say market value, but the policy states that the insured market value is $12,500
For an 04 with 80,000klm on it. I'm cool with that.
RE: e-bike insurance - Monyx - 19-12-2008
QBE renewal for ACT, rating 1, K5 light mods and 3 minor speeding offences in last 5 yrs = $615, e-bike = $568
As for market value I guess both are by Redbook which for mine is $11,100 - $13,200. QBE incl $4,000 apparel, $1500 hire vehicle, $500 emergency accomm, protected no-claim bonus.
*EDIT: Took QBE up on their offer to price-match so will stay with them.
RE: e-bike insurance - steventh - 17-02-2009
Folks,
Just reinsured with e-bike.
The best feature for me is that you can put up to four bikes on the one policy. So Ive got my K7 Busa and my 03 Ducati 749 comprehensivley insured with $500 excess (0 Voluntary excess) for $790. Thats only a little more than the Busa by itself.
For comparison;
the bikes are at Market Value. Ive got max NCB, no demerit points, no at fault accidents, no young riders (inc me unfortunately), adding to the cost is that I live in Sydney eastern suburbs.
Cheers
Steventh
RE: e-bike insurance - vicat1 - 07-05-2009
Hi all.
Mine was
ebike - comp $663.63, 450 excess, 15000, 22 years con.
Shannons - $692
QBE - $830 but after shannons Quote $690. (didnt have ebike quote)
RE: e-bike insurance - Louwai - 06-11-2009
(19-06-2008, 01:06pm)Louwai Wrote: Originally there was a comment about the e-bike underwriters being an off-shore company & therefore not bound by some Australian laws.
But last year the AU Gov passed a new requirement that ALL insurence companies must have an Australian underwriter as of June 2008.
So I can't see there being a problem.
Just renewed my insurance with e-bike.
They are now underwritten by Calliden, An Australian underwriter. www.calliden.com.au (Previously was Lloyds of London)
BUT, as a result of this change to comply with AU Gov regs my premium went up $80. ($365 up to $445)
Seems that Calliden have imposed an additional "fee" on all bikes over 1000cc.
The Australian citizen gets ripped off again.........