Insurance advice

[ST.George]

 
Thanks for all he welcomes. I'm looking at buying a 1300 and today researched insurances.

Very expensive!

I went to Shannon's first but they don't want to know me until I have 12 months recent riding experience.

I'm looking at Desty's 03 st1300 at $8000 and using this bike as a base the best quotes I could find in NSW were:

$379 for Greenslip (GIO), $400 for Comprehensive (insureMyRide), $400 for CTP (GIO).

That's nearly $1200 before regn and Blueslip are paid. I know most if not all you are current regular riders and get the best rates possible, but what can a wannabe comeback rider do to legally reduce the insurance load?

Do I just have to hang in there for a year and take the hit?

Gregory

[Whizz]

Mate, as I live in Queensland I'm not sure I'm understanding the intricacies of this, surely isn't Greenslip Insurance otherwise known as CTP? A Quote from the 'http://www.greenslips.com.au/' website says "Greenslips is a generic term for compulsory third party insurance. Greenslips are also referred to as CTP Greenslips, green slips, green slip, greenslip insurance, CTP and CTP Insurance" so doesn't that mean that the first an last costs in your post are actually the same thing?  If so that cuts $400 off your bill straight away!

[Bikebear]

Wouldn't even bother with Shannons.. if you ride your bike more that about once a month you obviously aren't an 'enthusiast' and they won't cover you.

[STeveo]

I found that NRMA did better than Shannons.

 

[ST.George]

Yes you're right Whizz - got that wrong. So it's more like $800. Still expensive.

STeveo, Shannon's said they would only give me a quote if I have a clear year's riding. But you're saying that their quotes are nothing special anyway.

What do most people do - comprehensive or some 3rd party cover variant?

How many give Comprehensive a miss altogether or is that sheer stupidity?

How many times have riders had claims for crashes, theft etc?

[Skip]

I'm with Shannons. $30 per month and covers all riding gear. I'm happy with that. But no. Have never made a claim and like it that way.  :)

[Streak]

I am with Suncorp, it is all worked in with my car, house, and contents, they have been very simple to deal with, everything is comprehensive, $1,800 a year, for the Commodore, the Bike, the House, and everything in them, works nicely for me

[Malcolm6112]

I have only heard good reports about Swan Insurance. Quick to pay out and they replace parts.

My ST is insured with them, never had to use it.

 

[Whizz]

I'm with Shannons and they seem fine although I've not had to use them, they cost me $35.17 a month. No insurance is madness! You simply have to live with the CTP, personally I think it's ludicrous but what can you do, its a basic cost of movement.

[Desty]

Just as a side note, I insured my bike (for sale btw) today with AAMI for $38/monthly full comprehensive. Without me even mentioning a figure, they gave me coverage for $13,000...  "This is what we'd pay you if it's written off" were the exact words used. They would do Third party fire and theft for $18 month, but having already had one ST destroyed by wildlife, it's full insurance for me all the way.

The previous 1300 was insured with Shannons at the time of the accident and I had the payout check within 14 days of the accident.

[StinkyPete]

I have comprehensive insurance through "Insure My Ride".   It's $355 per year for my 2008 ST1300, and was the cheapest that I could find.

[Abe]

I'm with Shannon's (2 claims on cars, no fault) I have found them great to say the least.  I have 3 cars and 1 x ST1100 1994, no claim 65%, so Bike = Total Premium $251 per annum. ($20.92 per month) (their valve $6800) license for 30 years (and still learning) sorry that's for NSW, if that makes a difference.  In my opinion, insurance companies are selling fear, I'm still happy to buy.

[winston66]

 
Winston 66.
Insurance is a bogey but in my world I consider it necessary as without it if a bad thing were to happen I dont think that I could afford another nice machine like the ST.
However I feel that the most important thing to consider is not the policy price ,but the conditions and relevant benefits of the policy that you choose.
I personally like to think that I might have a bargain when purchasing something , however I like to access as many of the relevent benefits that are offered , before making a final choice.
I personally like the policy conditions of my Shannons policy.
Cheers to all
 Winston66
Northampton
 

[winston66]

 

Winston66,
About this question of insurance.
I have just looked up my Shannons policies. they are nominated for restricted use, which means that the rides are used mainly for weekend jaunts and such.
As they are (1) for the 1996 Yamaha XVZ1300 Royal Star full comprensive agreed value $5800-00,Policy premium $210-21.
and             (2) for the 2003 Honda ST 1300 Full comprenhesive agreed value of $8000-00,premium $258-02,A combined yearly total of $468-27 which is less than $10-00 per week
These are paid monthly by direct deposit at $39-19.
I consider this is quite reasonable as I am able to use whatever ride that I feel like at any time and the other benefits of the policies are quite comprehensive
 The agreed values possibly do not realy reflect rhe real values, however in the event of a total there will not be any arguing.
Cheers
Winston 66 Northampton,
 

[Gadget]

I have Swann Insurance and 13 days after getting the ST1300 I needed it to the tune of more than $9,000 plus jacket, gloves and wet weather pants.  They paid up with out a drama. Had to photo the gear and email them and the cheque arrived within the week.     Bike fully restored and ride like new. 

Had Swann for 4 years before that on the V-Star and never needed it.

Cheers,
Gadget

[StinkyPete]

I've just changed my comprehensive insurance on my 2008 ST1300 from InsureMyRide@$365  to  Youi @$187.    I have  lower excess and greater accessory  cover than with InsureMyRide.

[ST.George]

That's a gr8 saving Stinky  - tho it's only in the response 2 a claim that a relatively nu player like YOUI will prove 2 b good value. Any1 had a good result with them?

[ppopeye]

Pete, I am with Youi but a fair bit dearer. Is your policy agreed or market value. That may be the difference


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[StinkyPete]

Pete, I am with Youi but a fair bit dearer. Is your policy agreed or market value. That may be the difference

Market Value plus $2,500 accessories.   Other factors in my favour may include my postcode, bike kept in locked shed, many years of riding experience, no claims and a discount from having other insurance with Youi.

[ppopeye]

The main difference then is the type of policy. I just realized I have lots of insurance with Youi but the bike is with Swann. Youi only have market value policies. Thanks


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[alans1100]

The main difference then is the type of policy. I just realized I have lots of insurance with Youi but the bike is with Swann. Youi only have market value policies. Thanks


Sent from my iPad

I went to Swann as they were a little cheaper. Youi asked why and for a little cheaper I had rating 1 protection. Youi said they it was part of the policy but it was never stated that I could see. Plus Swann includes the trailer while it is being towed and I needed another policy for that with Youi

[Gatey]

Mate, as I live in Queensland I'm not sure I'm understanding the intricacies of this, surely isn't Greenslip Insurance otherwise known as CTP? A Quote from the 'http://www.greenslips.com.au/' website says "Greenslips is a generic term for compulsory third party insurance. Greenslips are also referred to as CTP Greenslips, green slips, green slip, greenslip insurance, CTP and CTP Insurance" so doesn't that mean that the first an last costs in your post are actually the same thing?  If so that cuts $400 off your bill straight away!

+1 Whizz.

[Gatey]

Wouldn't even bother with Shannons.. if you ride your bike more that about once a month you obviously aren't an 'enthusiast' and they won't cover you.

I have all my toys with Shannons now.
First addition to the line up cost $50.00 extra on the Comprehensive total. Next addition was another $40.00. third addition was my work ute and I got a discount.



How do they know/ judge  "recent riding experience"?

[Gatey]

Yes you're right Whizz - got that wrong. So it's more like $800. Still expensive.

STeveo, Shannon's said they would only give me a quote if I have a clear year's riding. But you're saying that their quotes are nothing special anyway.

What do most people do - comprehensive or some 3rd party cover variant?

How many give Comprehensive a miss altogether or is that sheer stupidity?

How many times have riders had claims for crashes, theft etc?

Thing to remember is insurance is a very personal thing on a number of fronts. No two people get the same deal regardless of company.
Age, road use history, vehicles, vehicles age, size, colour. Most important location and the home location, lock-up or standing under the car-port...all this stuff adds up or detracts your case in the eyes of the potential insurers. I have had the most obserd figure quoted from NRMA for example whaile another was perhaps $ 80 better off. But the test of the true value of your insurance cost is at pay-up time.


Biggest best thing you can do as individual looking for insurance is bone up on all the offers, read everything and think very carefully about the kinds of questions your likely to be asked. Sound intelligent by being intelligent. And remember they are selling you a product. Your the buyer. Ask about everything. Put them on the back foot. After all you have the right to shop around and to request the types of cover that best suits your circumstance not the other way round.

If you've done some sort of up skill course's then make sure they understand that. If your life is spent out in the real road world like truck drivers of RMS guys and so on make sure they know your not some tool. Work a bargain in your favour with nothing left off. Clothes, helmets, GPS's all the additional s we carry. When you lake that sort of stuff into account then it helps deflect that initial insurance wallet shock.


It has to work for you not the other way round.

[Wheelbarrow]

I'm with Youi for comprehensive insurance, costing $207 per year. With free 24/7 roadside assist thrown in.
1300A 2004 model, insured for $10,000

No dramas. I'm happy with that.