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+--- Thread: Insurance - heads up (/showthread.php?tid=21933)
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Insurance - heads up - Belzybob - 22-07-2014
Anyone with insurance from InsureMyRide and related companies should check their renewals. When I insured my new Vstrom a few months ago I was a bit surprised when they wanted an additional premium for the remaining cover period; I was expecting a reduction or cover extension.
Thought nothing much of it until the renewal came in last week. The premium had gone up from last years Busa price, which I thought odd. I queried the price and was told that "different bikes have different risk ratings, its not just the engine size".
When I checked with other insurers such as Swann and other reputable insurers, I was getting prices around 2/3 of the original quote. Not only that but I was getting better cover and no 'limited use' provision.
Original quote was about $670, which they reduced to $628 when I queried it. Swann quote was $428 with no extra for monthly payments.
RE: Insurance - heads up - Hayabusabike - 22-07-2014
(22-07-2014, 09:22pm)Belzybob Wrote: Anyone with insurance from InsureMyRide and related companies should check their renewals. When I insured my new Vstrom a few months ago I was a bit surprised when they wanted an additional premium for the remaining cover period; I was expecting a reduction or cover extension.
Thought nothing much of it until the renewal came in last week. The premium had gone up from last years Busa price, which I thought odd. I queried the price and was told that "different bikes have different risk ratings, its not just the engine size".
When I checked with other insurers such as Swann and other reputable insurers, I was getting prices around 2/3 of the original quote. Not only that but I was getting better cover and no 'limited use' provision.
Original quote was about $670, which they reduced to $628 when I queried it. Swann quote was $428 with no extra for monthly payments.
Cheers buddy, I had the same from insure my ride. I ended up going with YOUI. I have a xr6turbo and they managed to do a package. I ended up saving half, literally.
RE: Insurance - heads up - Shifu - 23-07-2014
Similar story here with Insure My Ride mob two years ago. Had a cover with them for a year at a cost of $589. The next year the renewal came in with a premium of over $900! So I called them to make sure there was no mistake and was told the usual bul&it about the increasing cost of insurance. So I asked about the "under a dollar a day" and was told it is not applicable to sports motorcycles
Maybe they spent to much on advertising to offer any decent prices??Checked with Swann -$595 including rims and riding gear. The bike is uninsured now and unregistered since i lost my licence, but I got it back now and the weather is improving every day
Interested myself what the price for insurance will be this year and who will offer the best deal.
RE: Insurance - heads up - Dale - 23-07-2014
I told insure my ride to jam their insurance last year for the same reason.
Like Woody, I have it all bundled with Youi, but I'll give Shannon's a try this time around.
RE: Insurance - heads up - Shordy - 23-07-2014
I've got mine covered by Shannon's @ $365 as laid up, and youi have just come back to me a price of $408 with no limitations as to whether it's laid up or being ridden. Agreed value of $13,000.
RE: Insurance - heads up - afp3765 - 23-07-2014
In January I renewed my insurance with QBE and as usual the premiums were higher than the previous year. I did a bit of searching and came up with a cheaper quote. I then rung QBE and did the usual what's going on. After a lengthy conversation with a nice lady she matched my cheaper quote and hinted that if I happened to be a member of any motorcycle club I would get premiums even cheaper. I just happen to be a life member of the ACTMCC and received insurance for around $360. Bike is insured for market value. Food for thought.
RE: Insurance - heads up - Belzybob - 23-07-2014
Shannons price was about the same as Swann. I forget now who the third quote was, but that was about the same, but wanted a bit extra for monthly payments.
Note this is for an OF on a 2014 Vstrom, not a Busa.
RE: Insurance - heads up - busarat - 23-07-2014
Forget cheap insurance if you have lost your licence for speeding.thats another excuse for the price to double just for the fun of it even with a 60 percent no claim bouns
RE: Insurance - heads up - Shifu - 25-07-2014
(23-07-2014, 08:43pm)busarat Wrote: Forget cheap insurance if you have lost your licence for speeding.thats another excuse for the price to double just for the fun of it even with a 60 percent no claim bouns
I take offence to being accused of speeding which is riding in a manner that endangers yourself or other road users and is not appropriate to the conditions of the road, weather, amount of traffic etc, etc.
I was only riding faster than the speed suggested by the road sign....
RE: Insurance - heads up - Aussie Steve - 25-07-2014
That is common practice for all insurers...jack the price up and if the punter doesn't complain win for them. Some people are so lazy they cannot be bothered saving money. I always get another, (lower) quote to get my insurance company to tow the line and they usually do.
RE: Insurance - heads up - Belzybob - 25-07-2014
I gave IMR the chance to improve the price, but they only knocked $50 off. Do you get the 'careful rider' discount Steve?
RE: Insurance - heads up - Aussie Steve - 26-07-2014
Not since I binned the last Busa....LOL but I do get a fairly good premium given the new Busa is worth more than the last one.
RE: Insurance - heads up - Tony Nitrous - 26-07-2014
Shannon's for me.
None of the other's will do in writing what I wanted.
Agreed value, rider and pillions gear, extra's and mods listed, buy back any salvage,
do own repairs. 2 mates have had claims and were very happy.
RE: Insurance - heads up - shorty - 06-09-2014
Can anyone please tell me why QBE is charging me $1008 and youi want to charge me even more even though I already have my ute insured with them?
RE: Insurance - heads up - Shifu - 06-09-2014
(06-09-2014, 05:29pm)shorty Wrote: Can anyone please tell me why QBE is charging me $1008 and youi want to charge me even more even though I already have my ute insured with them?
It might have something to do with your age or riding history. Some insurers assume that when you younger you are a bigger risk.