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17-05-2008, 09:20am
Sorry to hear about your bike
It's not uncommon for an insurer to request an excess payment regardless of who's at fault. Some do, some don't, it's another good reason to read the wording prior to taking out a policy
As you are aware insurance is very price driven, but by saving $100 at renewal it could end up costing you a lot more if you ever have to lodge a claim.
Your excess will be refunded once QBE have recovered the cost of repairs to your bike. It all depends on who hit you. Don't hold your breath though, there's a lot of people out there that have no insurance, too lazy to lodge a claim, disappear off the face of the earth etc etc. You can always try to get the excess waived, the outcome will depend on how long you have been with the insurer, the total premium paid, any previous claims. There's definitely no harm in giving it a go. Ask QBE if they have contacted the third party and confirmed whether they have insurance, and if so, have they lodged a claim? If the third party does not have any damage to their vehicle chances are that they're waiting to hear what the estimate is to repair your bike prior to them lodging a claim, everybody's different though but at least you'll have an idea of what your chances are of seeing your $500 again.
If you end up having to pay your excess which unfortunately is the most likely outcome, find out the name of the claims officer at QBE that is responsible for recovering the damages to your bike and follow them up regularly.
good luck
It's not uncommon for an insurer to request an excess payment regardless of who's at fault. Some do, some don't, it's another good reason to read the wording prior to taking out a policy
As you are aware insurance is very price driven, but by saving $100 at renewal it could end up costing you a lot more if you ever have to lodge a claim. Your excess will be refunded once QBE have recovered the cost of repairs to your bike. It all depends on who hit you. Don't hold your breath though, there's a lot of people out there that have no insurance, too lazy to lodge a claim, disappear off the face of the earth etc etc. You can always try to get the excess waived, the outcome will depend on how long you have been with the insurer, the total premium paid, any previous claims. There's definitely no harm in giving it a go. Ask QBE if they have contacted the third party and confirmed whether they have insurance, and if so, have they lodged a claim? If the third party does not have any damage to their vehicle chances are that they're waiting to hear what the estimate is to repair your bike prior to them lodging a claim, everybody's different though but at least you'll have an idea of what your chances are of seeing your $500 again.
If you end up having to pay your excess which unfortunately is the most likely outcome, find out the name of the claims officer at QBE that is responsible for recovering the damages to your bike and follow them up regularly.
good luck