Insurance clauses and conditions.....

Stereo · Post by **Stereo** » Mon Jul 10, 2006 1:19 pm

I rang my insurance company just to check something out... I found out something interesting...

We are getting a driveway at some point in the near future, which means I cannot park the bike inside... My bike would NOT be covered if parked out in front of my house!!!!!

Also, they claim that they sent me a form confirming the questions they asked me on the phone..... (which I never recieved) because I havent filled it out it means my excess was actually 2 grand larger than it is after filling out the form!!!

Finally, and here is the coolest one..... I got a quote for 3rd party/fire/theft which is usually a LOT less than comprehensive insurance.... it costs MORE... because apparently they dont take your no claims bonus into account.... thats right, for $200 more I can get a lot less insurance!

Damned insurance companies.....

Lainie · Post by **Lainie** » Mon Jul 10, 2006 1:28 pm

That's gotta suck

I am looking into a new Insurance company as seems I pay more then everyone else I know with a 250

I also hold a rating 1 just like them too

They know how to screw ya

Post by **icebreaker** » Mon Jul 10, 2006 1:32 pm

What a joke...

My bikes with RACV. I let the policy slip last month after St George shuffled some accounts on my CC around, so the payment didn't come out.. No big issue, rang up earlier in the week and renewed it... turned out about $50-100 cheaper.. *shrugs* do I asked about market value, she recons maybe upto $7,900.. So needless to say she is now insured for $9,000 agreed value for still $10pm cheaper than prior to the market value policy becoming invalid..

WIERD stuff I recon...

They've never said anything about it not being covered parked out the front of the house.. I recon that's BS.. That would be like saying if you park it in the street somewhere away from home it isn't insured... What's the point.. If it is stolen from inside your house you could argue contents insurance not motor vehicle insurance if the game was played that way.. They're all a pack of ripp of so and so's IMO.. But I'm a happy camper atm... Finally something is worth more to me stolen... lol

jewjew · Post by **jewjew** » Mon Jul 10, 2006 7:10 pm

I got the same deal with Western QBE, you have to install an alarm to bring the excess down from 2000 to 500, if the bike gets stolen.

Rowdy · Post by **Rowdy** » Mon Jul 10, 2006 7:22 pm

Insurance companies........Bastards all of them. I've never understood how "market value" can be so much below what your bike is actually worth.

Neka79 · Post by **Neka79** » Mon Jul 10, 2006 7:37 pm

mate there all rogues..but ur right, ull notice if ur bike is parked in a NOT LOCKED garage situation pretty much ANYWHERE its almost not covered...
i kno my policy states my bike cant be parked within 500m of my house, unless its in my garage , or it aint covered (so if ur visiting ur mate 2 streets across, and it gets stolen in the middle of the day, ur stuffed)...

insurance sucks at the best of times...

photomike666 · Post by **photomike666** » Tue Jul 11, 2006 12:38 am

Amazing what they don't cover, but have to say - I have a 99 CBR600 with 63,000k on the clock and they didn't write it off with a $5500 repair bill. Makes me wonder what they would have paid out if it was written off

Kishy · Post by **Kishy** » Tue Jul 11, 2006 11:33 pm

Stereo wrote:I rang my insurance company just to check something out... I found out something interesting...

<snip>

Finally, and here is the coolest one..... I got a quote for 3rd party/fire/theft which is usually a LOT less than comprehensive insurance.... it costs MORE... because apparently they dont take your no claims bonus into account.... thats right, for $200 more I can get a lot less insurance!

Fuck bro.. Look for another insurer. Other insurers whether a bike is
garaged or not is not an underwriting factor. I'm fine whether my bike
is left in the driveway or locked in garage.

Not unusual to have situation where Comp is less than TPFT. I've seen
it many a times. In fact I was in same situation.. not with my bike but
one of my shitty cars.

Simple explanation is that price is based on risk.

My car in question is a 97 model. These cars are usually more often than
not insured for TPFT because value of car is not much. Therefore most claims
for my type of vehicle are TPFT based claims as apposed to Comp.

So by insuring it comprehensively its considered a lower risk because less
claims are received for this type of cover; therefore is less in cost. Sounds
stupid, but thats insurance for ya

Another mitigating factor is that with Comp you get rating discount . With
TPFT there is no rating & therefore not rating discount, (which you also alluded
to), so in the end its cheaper for me to cover the car fully.

Dan wrote: My bikes with RACV. I let the policy slip last month after St George shuffled some accounts on my CC around, so the payment didn't come out.. No big issue, rang up earlier in the week and renewed it... turned out about $50-100 cheaper.. *shrugs* do I asked about market value, she recons maybe upto $7,900.. So needless to say she is now insured for $9,000 agreed value for still $10pm cheaper than prior to the market value policy becoming invalid..

Simple explanation bro..

Insurance pricing changes all the time as insurers continually evaluate risk. There
was obviously a price change in the period from when ya policy lapsed to you starting
another one; hence why when you get an estimate done, its usually only valid for (7)
days

Another example..

We all get our annual renewals about 4wks prior to the anniversary date,
which means the insurer was evaluating the renewal premium a further 2wks prior.

Now go to your insurers website & do an online quote alot closer to your renewal date..
which now would be nearly 6wks since your premium was determined. You may find you
are given an estimate for less, the same or more than your quoted renewal premium.
Why? Same reason.. price change.

Dan wrote:They've never said anything about it not being covered parked out the front of the house.. I recon that's BS.. That would be like saying if you park it in the street somewhere away from home it isn't insured... What's the point.. If it is stolen from inside your house you could argue contents insurance not motor vehicle insurance if the game was played that way.. They're all a pack of ripp of so and so's IMO.. But I'm a happy camper atm... Finally something is worth more to me stolen... lol

Well its not bullshit bro. No where in your Product Disclosure Statement & Policy Booklet
(which forms part of the contract you have with your insurer) does it make reference to
whether ya bike can be left out on street or in garage & the reason why there isent that
kinda exclusion is because you are covered regardless

BTW if you try to argue that ya bike is covered under ya contents policy if its knocked off
from home.. you will be made to look like a twat when they direct you to page ?? of ya policy
booklet

Your Booklet would say something like this (or words to the same effect):

We do not cover
- vehicles including; motor vehicles, ride-on vehicles eg. motorised buggies or carts, unless it
is a ride-on mower used solely for the purpose of mowing lawns, any motorcycles that are
registerable, or and any motorcycle greater than ??cc. We dont consider childrens ride-on toy
with an engine less than ??cc to be a motor vehicle.

Good ya got Agreed Value. I reckon its always better paying that extra for peace or mind
knowing youre guaranteed a set amount (minus ya excess) if ya lose ya ride. Mine is covered
for $000's more than I paid for it, which is why I dont give a toss if its taken. Means I'll be able
to upgrade my ride once again

ozx6r · Post by **ozx6r** » Wed Jul 12, 2006 5:30 am

Dan wrote:Finally something is worth more to me stolen... lol

same here dan i have changed to shannons not so long ago and my 97 zx6r was 6900 on there market value - no way id get that much if i had 2 sell it

Post by **Wattie** » Wed Jul 12, 2006 7:11 am

long story short,
my dads mate had his 2 month old hardley flogged from his garage, (locked, electric door unplugged, bike alarm, chained down the lot)
in sured with qbe, they put PI's on him to see if he had troubles with his marriage etc, they couldnt find any evidence of it being stolen, after about 3 months, the rang him asking what colour bike he wanted as replacement.
not giving him choice to take money or different bike.
but when he was to pick up the bike, he had to sign a clause saying he is taking the bike un-insured, and he cannot insure with them at his address anymore.
so that is classed as being refused insurance, so would screw up your chances with all insurance companies.

oh and btw, with qbe if your steering lock aint on, your not covered!

after your bike gets flogged from your house, should you walk up to the shops with your helmet and bike gear on and call the insurance company?

Stereo · Post by **Stereo** » Wed Jul 12, 2006 9:04 am

Kishy, the "bro's" seem a bit forced today, you wrote so much but only used bro 3 times.... You allright?

Bluefly · Post by **Bluefly** » Wed Jul 12, 2006 12:38 pm

Stereo wrote:you only used bro 3 times.... You allright?

Hahahahaha I was thinking exactly the same thing!! And not a "pig" in sight!

Good work.

Stereo · Post by **Stereo** » Wed Jul 12, 2006 12:45 pm

Bluefly wrote:
Stereo wrote:you only used bro 3 times.... You allright?
Hahahahaha I was thinking exactly the same thing!! And not a "pig" in sight! Good work.

Aww look at our boy sweetie..... he's becoming a man

hehe

(just kidding bro, sweet as!)

Kishy · Post by **Kishy** » Wed Jul 12, 2006 5:23 pm

Stereo wrote:Kishy, the "bro's" seem a bit forced today, you wrote so much but only used bro 3 times.... You allright?

Thats it I'm not gonna use that word EVA AGAIN..

Neka79 · Post by **Neka79** » Wed Jul 12, 2006 7:54 pm

Stereo wrote:
Bluefly wrote:
Stereo wrote:you only used bro 3 times.... You allright?
Hahahahaha I was thinking exactly the same thing!! And not a "pig" in sight! Good work.
Aww look at our boy sweetie..... he's becoming a man

hehe

(just kidding bro, sweet as!)

mate he had a relevant, well written post in another thread last night too!!...
i think sum1 has hi-jacked kishy's pc??
hahaha

m8 i use ta be the only 1 who use 2 shorthand an every1 got the shits wiv me cos i was lazy...

as for that bit about the stolen hardley and QBE...i had insurance thru them once..wont ever again...they are assholes to put it nicely...