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]...

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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)

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to get this sort of policy.

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

an

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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]...

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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

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]) maddogsbreakfast.commaddogsbreakfast.comOpen ↗ - Travel
Tales: The good, bad, and down-right ugly

hippy:

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"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.

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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.

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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.

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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,

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]...

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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.

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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