Is insurance worth it?

[rocket rod 7777]

This is why my system would work!To stop shit like this happening <i></i>

[Dracovite]

you're right Rod, there should be a system which we road-users can fall back onto if the perpetrator is unlicensed/uninsured/speeding/under the influence etc. <i></i>

[rai1300]

The system already exists. Its called a baseball bat. <i></i>

[demeester]

Dracovite - my point is that in that case, you won't get any money, so you end up forking out for the damage to your own bike, even though someone else did it. So another argument for insurance.

I agree that the other system proposed (like for personal injury) could work. And if they are unlicensed/unregistered, the system could still pay up (even now, if you are the victim of a road accident caused by an unregistered car, you are covered for injury). However, the down side is that the payment extracted for the system is the same for everyone, whether you haven't caused any accidents in 30 years or cause one every year. The plus is that the premium is the same whether you drive a porsche or a cortina, a GPX250 or a busa - a reflection of the fact that if you hit someone else, the amount of damage is not on a scale with the value of your own vehicle! <i></i>

[bluecenturion]

I've insured every vehicle I've owned..the one time I drove without insurance I was moving a car from one address to another for a mate, he'd just bought it from his parents..told me he was "pretty certain" he'd got a cover-note for it...wet, rainy night, tramlines..WHACK into the arse of a..you guessed it....two month old Beemer...discovered NO insurance on the car I was driving...me and my mate were out of pocket to the tune of three and a half grand EACH..and we fought it at a civil court hearing...guess that's what a Beemer solicitor as opposed to a Holden Camira solicitor can do for you...ever since that time (9 years ago)..I've made sure EVERYTHING I have is insured...Sod's Law does rule... To the last I will grapple with thee; from Hell's heart I stab at thee; for Hate's sake I spit my last breath at thee.
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[rocket rod 7777]

Guess ive been lucky.I 've only ever ever had extended 3rd party(which should be compulsory)so if i f*** up i pay the damages,if they miscue they pay for my vehicle,fair enough.In 25 years riding ive had 2 bikes written off by cars(they paid)and one by my fault,the VFR over the edge,up the reefton spur,cost me $4,500 to repair.I think after 25 years im still well ahead as opposed to paying full insurance over that time.I guess im backing my judgements.Each individual has to assess their own situation. <i></i>

[Throwdown]

My position exactly. Over the decades I expect to come out ahead. Underwriting your own risk also makes you a damn sight more careful when riding too. The current system doesn't appeal to me enough to want to insure my bike.

As for the idiot in a $300 Corolla who hits your bike and doesn't have insurance. Yeah, your insurance will pay for damages then whack up your premium. All a part of the fiddle. When the system is revamped, I'll give it another look. <i></i>

[rocket jockey]

Throw- down, the story so far is, I had to notify my insurance company, that the bike had been involved in an accident, and they tell me, that now they have all the other drivers details, it's not going to affect my policy, or cost me anything, and they will foot the bill, and recover the costs from her insurance. This where the bullshit begins, because, 2 days after the stack, the bike shop tells me I should have it back in a month, I rang the ins' mob, to see about buying back the parts, only to be told, no assessor has been asigned to the claim yet because, they haven't received the quote. I went down to the bike shop last tuesday, and surprise, surprise, they haven't even looked at it. The month's up on Monday, I'll keep you posted on how long this takes. <i></i>

[busababy]

if you want action, you gotta chase and push everyone involved, you can't afford to sit back and think that everyone will go out of their way to do the right thing by you, get precise date and time commitments from everyone and then write them a letter confirming the precise details that they agreed to, including time and date.... good luck
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