insurance policies

good luck... my bikes are both uninsured at the moment, due to the
ridiculous price of insurance...

"David Pascoe" <[email hidden]> wrote in message
news:[email hidden]...

Quoted message said:

I have gotten a quote of $600 a year for a $6000 bike, including $400 of
accessories. This came from Safeguard, I would also need to join the BTA

(in WA)

Quoted message said:

to get this sort of policy.

This seems like quite a lot, especially when you add $40 to join BTAWA and

an

Quoted message said:

excess of $200.

Do I have any hope of getting a cheaper/better policy in oz ?

thanks,
davidp.
--
David Pascoe, [email hidden], Western Australia

David Pascoe:

Quoted message said:

I have gotten a quote of $600 a year for a $6000 bike, including $400 of
accessories. This came from Safeguard, I would also need to join the BTA (in WA)
to get this sort of policy.

This seems like quite a lot, especially when you add $40 to join BTAWA and an
excess of $200.

Is it though? You can buy a car for less than $6000 and pay more than
$600 a year for insurance. Travelling on the road and legally being
considered a vehicle might just be a reflection of that.

"Jose Rizal" <_@_._> wrote in message
news:[email hidden]...

Quoted message said:

Is it though? You can buy a car for less than $6000 and pay more than
$600 a year for insurance.

You can, but would you? Most people I know only
pay comprehensive insurance on new cars ($15k+).
3rd-Party Fire & Theft is much less than $600. At
least, it is for me.
I thought about insuring my $3-4k bike and after
finding out how expensive it was, decided I'd rather
save the money and take my chances. The bike is
never left outside, so hopefully theft is not much of
an issue.
I guess I'm the sort of person that will take out
insurance once I've been burnt.. meh.. :-P

hippy

hippy:

Quoted message said:

"Jose Rizal" <_@_._> wrote in message
news:[email hidden]...

Quoted message said:

Is it though? You can buy a car for less than $6000 and pay more than
$600 a year for insurance.

You can, but would you?

Depends if you think the risk of writing off up to $6000 is affordable
or not, same as with an automobile.

Quoted message said:

Most people I know only
pay comprehensive insurance on new cars ($15k+).

It's not a totally unfair price to charge for insuring a bike, since
comparative values are the same with an automobile and it's a legal road
vehicle.

Quoted message said:

3rd-Party Fire & Theft is much less than $600. At
least, it is for me.

Not having this option for bikes may be an indication that it is the
value of the bike itself, rather than damage to others that the rider
can do with it, that concerns the insurance companies' profiteering.

Quoted message said:

I thought about insuring my $3-4k bike and after
finding out how expensive it was, decided I'd rather
save the money and take my chances. The bike is
never left outside, so hopefully theft is not much of
an issue.

With appropriate vigilance I think it's possible to make do without
insuring bicycles for theft, but that still leaves damage to the bike
uncovered.

Quoted message said:

I guess I'm the sort of person that will take out
insurance once I've been burnt.. meh.. :-P

By which time it will be too late. However, I know many people (like
myself) who have never claimed on their car insurance; it can be
considered an unnecessary form of tax for some.

David Pascoe said:

I have gotten a quote of $600 a year for a $6000 bike, including $400 of
accessories. This came from Safeguard, I would also need to join the BTA
(in WA) to get this sort of policy.

This seems like quite a lot, especially when you add $40 to join BTAWA and
an excess of $200.

IIRC we paid about $200 each to insure a pair of $2200 bikes.
Paid an extra bit (don't remember how much) for overseas theft
insurance as the travel insurance wanted $500(ish) for this
sort of cover. To be covered, the bike must be securely locked
to an immovable object at the time, and was not covered while
"in use" (so no crash damage cover).

From your quote, it seems a 10% value is the premium.

When stored at home, it's covered with your household insurance right?

So you're only insuring your bike for when it's left unattended
(but securely locked to an immovable object) while out riding...
Is this a real issue? If you were a courier, and leaving your
bike unattended was something that happened many times a day,
well maybe then it's a problem. Find out exactly what circumstances
your covered under, and then match that to the time your bike will
actually be in that situation.

I don't like this advice myself - but if you're riding to a train station
and leaving the bike daily, why not buy yourself a $300 Malvern Star
and use that for 'work', and then use your $6k bike for crusin'.
Riding a 0.3k bike will make your 6k bike seem like a dream 🙂

-kt

--
Kingsley Turner,
(mailto: [email hidden])
http://MadDogsBreakfast.com - Travel Tales: The good, bad, and down-right ugly

David Pascoe said:

I have gotten a quote of $600 a year for a $6000 bike,

What are you insuring against? They dont normally cover damage
while riding, let alone racing. And what else would you do
with a $6000 bike? Do you lock it to the bike rack at
shops/work/etc ??

"Mike" <[email hidden]> wrote in message news:[email hidden]...

Quoted message said:

David Pascoe said:

I have gotten a quote of $600 a year for a $6000 bike,

What are you insuring against? They dont normally cover damage
while riding, let alone racing. And what else would you do
with a $6000 bike? Do you lock it to the bike rack at
shops/work/etc ??

With a $6000 bike (I wish!) I'd be locking it to the bed at home and the
office desk at work, and never leaving it unattended anywhere in between.
What's the point of insurance? If you list it on your house contents you'll
cover it at home, and some home policies will cover it against theft while
locked even away from home.

Cheers
Peter

with household insurance be careful as some policies have limits for items
such as bikes and over this limit they need to be itemised as 'specified
items' for which you can pay a premium....so check your policy and shop
around with various insurers.

and no I dont have my bike insured...I used to, but the premiums were
getting ridiculous for the amount of times that my good racing bike was at
risk ie. outside of the home without me attached to it.

"Peter Signorini" <[email hidden]> wrote in message
news:[email hidden]...

Quoted message said:

"Mike" <[email hidden]> wrote in message news:[email hidden]...

Quoted message said:

David Pascoe said:

I have gotten a quote of $600 a year for a $6000 bike,

What are you insuring against? They dont normally cover damage
while riding, let alone racing. And what else would you do
with a $6000 bike? Do you lock it to the bike rack at
shops/work/etc ??

With a $6000 bike (I wish!) I'd be locking it to the bed at home and the
office desk at work, and never leaving it unattended anywhere in between.
What's the point of insurance? If you list it on your house contents

you'll

Quoted message said:

cover it at home, and some home policies will cover it against theft while
locked even away from home.

Cheers
Peter

"Scotty" <[email hidden]> wrote in message
news:[email hidden]...

Quoted message said:

with household insurance be careful as some policies have limits for items
such as bikes and over this limit they need to be itemised as 'specified
items'

Yes, that's what I meant by _listing_ them in my post.

Quoted message said:

for which you can pay a premium....so check your policy and shop
around with various insurers.

Whatever our policy is we don't pay any extra, but it's not covered away
from the house. I'll look it up if you need the contact.

Cheers
Peter