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3rd Party Property Insurance

Discussion in 'Learner League' started by Jdeks, Jan 11, 2009.

  1. Jdeks
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    Jdeks Gone into the West

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    Hey again,

    I'm looking at getting 3rd party property insurance, and I was just wondering what company/ies everyone else seems to run with. I've got a quote of $177 pa with a $400 excess from that "Insure my Ride" bunch, as opposed to NRMA who want about $220 pa. Who recommends what provider?

    Cheers
     
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  2. Jono
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    Jono Guest

    Just call around and get quotes. Other people's licence history, postcode, bike etc will mean their quoted prices are completely different to yours.

    For what it's worth, try Famous Motor Insurance (previously Arista Underwriting). Nobody seems to know about them, but they did a good deal for theft cover on my unregistered trackbike.
     
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  3. Michael
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    Michael Guest

    Be aware of the "special" excesses "insure my ride" hit you up for.

    For me I have:

    Standard: 400
    Under 25: +400
    Inexperienced: +1500

    :thumbdown
     
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  4. Whickle
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    Whickle Little Spoon Staff Member Moderator

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    Yep!

    Try QBE, they are rather cheap. Just shop around!
     
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  5. supamodel
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    supamodel Secret Aaaaaagent Man Staff Member Moderator Supporter

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    Yes, insuremyride makes sense for some people, and not for others, just like Shannons do for some, and not for others.

    As many others have said, you really have to give them all a call.

    NRMA are likely to be expensive
    Swann are much the same as NRMA but the call centres can be a little more bike friendly.
    InsureMyRide are inexpensive but make up for it with excesses for some people
    AAMI say they won't insure motorbikes in the ACT, but some people have had more like upon ringing the call centre
    Arista (or whatever they call themselves now) seem to have been middle of the road for some people
    QBE tend to be fairly cheap, some people say they've had crap claims with them, some people have had excellent experiences
    Shannons are fine for a particular class of rider (may not ride much, definitely doesn't commute, may own multiple oddball bikes and/or cars), and just plain don't want to touch other people

    It all depends on who the insurer is marketting to and how they split up their stats as to the kinds of people who get the awesome and who gets the rough ends.

    I've probably forgotten a few people in that list above.

    My bike's with QBE, as was my last bike. Swann have been pretty good for some of the other bikes I've had. The household scooter is with InsureMyRide, and have never made a claim. Kelly's R6 was with NRMA when she had it, and her claim for the ignition system was easy, simple and got done pretty quickly (only delay were Yamaha parts).

    One's mileage varies considerably on these; my insurance is never really comparable with some people as some insurers look at my good record and long history of riding (since 16; I turn 27 in a couple of months), others look at my age.
     
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  6. adr1an
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    adr1an Curator Administrator

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    Im curious - anyone that holds Third Party, Fire & Theft - is it the usual 1/2 category per year for No Claim Discount ?

    For younger, never before insured people, TPFT used to build up your No Claim Discount, but not all companies offer NCD on TPFT and most that do only give it to you at half the rate of Full Comp. insurnace (i.e, you get 1 category every 2 years instead of 1 year...)

    Anyone that has it care to share ?
     
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  7. Conan
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    Conan Member

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    I'm with insure my ride (which is owned by aami I believe), 261, but some massive excesses ... (pretty much what mike put up), but I only have to pay the two highest ...
    Will definitely ask about the third party fire and theft with ncd ... even if it is only half a year per year i could get 4 years tpft for one year's full comp :
     
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  8. Jdeks
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    Jdeks Gone into the West

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    Thanks a bunch guys. I'm going to look into these large 'extra' excesses that InsureMyRide hits you for. I Might look into QBE instead.
     
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  9. supamodel
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    supamodel Secret Aaaaaagent Man Staff Member Moderator Supporter

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    The thing about no-claim bonus is that a lot of companies are happy to do it based on years without an accident. At least a couple of friends of mine finally got comprehensive insurance on cars, having never had any (but also no accidents for the past 5 years) and they jumped straight to rating 1, which then they could also use on a bike (despite having had a bike licence for, oh, about 12 minutes).
     
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  10. adr1an
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    adr1an Curator Administrator

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    Thats correct - but I was referring more to ppl <25....
     
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  11. supamodel
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    supamodel Secret Aaaaaagent Man Staff Member Moderator Supporter

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    Technically it would have worked for me at around 21 - I already had tucked away 5 years of riding experience by then. Hell, I'm not far off 25 myself; one person at work at 20 was able to score a rating 2 with no insurance ever before...
     
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  12. 2ndclasscitizen
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    2ndclasscitizen Member Veteran Member

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    I scored a rating 1 from NRMA somehow on my Bandit.
     
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  13. timeeh
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    timeeh Member Supporter

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    Thread Necromancy (cause i couldn't fione the thread i started...) Long story short i am finally going to get 3rd party insurance on the bike (first time in 18 odd years...) and here is where to competitors stand ATM based on a 96 ZX9R, no mods, held liscence for 5+yrs, no convictions in the last 10yrs, no demerits in the last 3yrs and stored in a lockup garage.

    QBE $204.00pa
    Excess $600

    NRMA $241.00pa
    Excess $650.00
    Must nominate extra riders (not covered if not nominated)
    Covers up to 5k repair bill if your not at fault.

    AAMI $128.00pa
    Excess $550.00
    Covers up too $20M

    Famous dont do 3rd party so full comp is $422pa
    Excess $500
    Covers gear to $2k
    Must nominate extra riders

    Shannons $230pa
    Excess $500

    Swann $230pa
    ???? Website sux, no extra details (then again so does the price)

    GIO $179pa
    Excess $400
    Must nominate extra riders

    YOUI $107pa
    Excess $500
    Must nominate extra riders

    Insure my ride $137pa
    Excess $400
    Covers gear to $2k
    *Can be paid in quarterly payments, great if your bike is only regoed for part of the year (Like mine AKA Mr Fairweather) at an additional 5% :)

    Hope that helps some people? Looks like insure my ride are the front runners by far and they are the only guys who cover riding gear under 3rd party. Youi is the next best, but they wont cover your riding gear. Im sure thier are other companys too, but iv'e had enough of researching....
     
    Last edited: Dec 21, 2013
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  14. Datzcrzy
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    Datzcrzy Member Supporter

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    Only ever had good dealings with IMR.. and the gear coverage part of the insurance was dealt with really easily by providing copies of reciepts or in the case of no reciepts, just a photo proving I owned it. New gear (well, the cheque for it) arranged within a week.
     
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  15. maadonna
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    maadonna Member Supporter

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    I've had everything insured with IMR, except my trail bike & that's because their website crashed part way through & I wanted to ride immediately.

    Youi have very unethical privacy practices & are hard sellers - I wouldn't touch them even if they were super-cheap.
     
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  16. timeeh
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    timeeh Member Supporter

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    Not to sure on the unethical side, but deffinately hard sellers.... Bloke wanted to sign me up then and there, i only asked for a quote... He then said he'd ring me back today, which he did, but i told him that IMR insure my gear too for an extra couple of bucks, so not worth my while... The biggest joke belongs to NRMA though, not only the most expensive but also the lowest cover... Christ if the bike hit the side of a bommydore or falchooon it wouldn't be enough to cover a door, let alone hit a merc or something else worth a bit of coin...
     
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  17. lucifer_mr2
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    lucifer_mr2 Veteran Member Veteran Member Supporter

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    The NRMA cover's you for $5,000 for repairs to your bike if the other guy is at fault and not insured. Still has the $20,000,000 of cover for the other vehicle.
     
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  18. timeeh
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    timeeh Member Supporter

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    Ahhh, i thought that was a bit wierd. Thats not a bad little option, still bloody expensive though. Thanks for the clear up, i'll update the original :)
     
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