New 05' without insurance?

[HemiDuty]

Some good points here. I cannot afford insurance on my 96 ZX7R, and I think there are definitely going to be cases where ppl can afford to buy a new bike but not insure it. I have never had full comp so its going to be ridiculous for the first year or 2 for me to get it. If I had a better income and bought a more expensive bike I would look at it, but its not even on the cards for now.

[hammer]

I've done my research. I know what I'm talking about.

[samhasa636]

Lets not get personal guys...

No, I think this should say "Don't get personal".

[gixxerdave]

this is a hoot - but seriously, I-K does know what he's on about. and i should know.

i dont need to elaborate any further.

NUFF SAID.

[Ratmick]

A new 2005 ZX-? without insurance?

Are you nuts?

Mate, there's nothing worse than a $15k bike that looks like it's worth $5k. Panels may come and go but once sub-frames go out of whack they never quite fit back together again like they used to.

[Cath]

Insurance is one of those things that there is rarely an objective right or wrong answer for. It's more about managing risk and what risk you feel comfortable with.

So, my advice would be to explore the worst case option (outright theft or total write-off - both things you can mitigate but cannot totally prevent) and think long and hard about your options if that occurs. Then I'd think about the likelihood of it occurring.

Then make the decision that you can live with. And accept that YOU made a choice.

Not many things are more annoying than an adult who makes a choice and then whinges about the outcome (i.e, their bike is stolen or they pay for insurance for X years and never used it). Waaaaaaaah! Bed. Made. Lie.

[samhasa636]

Well Vash, hopefully your question has been answered

It should be obvious by now that it is your decision and no one will be able to sway you either way.

I am getting out of this topic before someone gets hurt

[I-K]

I am getting out of this topic before someone gets hurt

Someone? Hurt? From where I sit, the handbags haven't even come close to being unslung from shoulders.

[James]

Something that hasnt really been brought up yet, but is something to consider in having Third party property damage (TPPD), is proving liability when youre not at fault in an accident.

As TPPD only covers damage you cause to another persons property, if you are not at fault in an incident, you have to pursue the at fault party for your damages. From my experience in dealing with at fault party's, there are two responses you receive: "it wasnt my fault" & " there was no damage to the other vehicle" People will tell you anything to get out of paying and will never admit to being at fault.

Your insurer wont help you recover your loss, so you have to send letters of demand yourself and if needed, issue a summons to the other party. In a lot of cases where the other party has a story to deny liability and there are no valid witnesses to the incident, it will come down to conflicting statements and will be settled as each bear own costs (EBO). Therefore you cant recover your losses even though in reality the other party was at fault. Theres a difference between what actually happened and what you can prove happened.

If you have full insurance, your insurance company pays for your repairs and they then pursue the other party for the costs - which is what you pay them for. If the other party denies liability and its settled as EBO, the insurance company loses money, and you dont pay excess and your NCB is not affected.

[I-K]

As TPPD only covers damage you cause to another persons property, if you are not at fault in an incident, you have to pursue the at fault party for your damages. From my experience in dealing with at fault party's, there are two responses you receive: "it wasnt my fault" & " there was no damage to the other vehicle" People will tell you anything to get out of paying and will never admit to being at fault.

Until a letter from your solicitor hits their mailbox. On the two occasions I've had to resort to that, they folded quicker than anything seen this side of an Origami tournament. Took a while, but I got my money, with interest, on both occasions, including the time when they guy cancelled his insurance policy in the immediate aftermath of the accident and moved house shortly thereafter (his lease expired).

The whole point of it is, if you can get comp insurance for a few percent of your bike's total worth, by all means, go for it. But if you're young, live in Sydney, have anything like a chequered traffic or insurance claim history, you won't be able to get insurance for anything less than ~15% of your bike's value. That's an awful lot of money to just hand over for some kind of nebulous, far-off peace of mind which rarely eventuates, in any case.

If you're someone for whom insurance is not necessarily unaffordable, but *poor* *value* *for* *money* (if I had a million dollars back when they were quoting me $4800 to insure my R1 for $16000, I'd've still not paid it, because it's poor value for money), there are alternatives. They're not as plug-and-play as comprehensive insurance, but they work.

[Nanna10r]

I K mate chill . I think we have your opinion pretty much covered now from all angles. My opinion is different to yours but that doesnt make either of us wrong. Vash asked for opinions & he has got quite a few how about stepping back & letting some of the others guys have a turn. Just as a matter of interest i had a rough count @ 40% of this topic is your opinion ..... seems like thats a pretty big opinion wouldnt you agree ?.
Cheers Brett

[MickLC]

I bailed on this one early 'cause I didn't feel like getting into a slinging match but...

Yet, despite all this, my cock just refuses to either shrivel up or drop off. I don't get it. What should I be worried about?

Gotta love this line


...and I just wanted to add that it didn't cost me thousands to build up a no claim bonus 'cause I did it with cheapo cars with low premiums 'cause that's all I could afford at the time. By the time I got to the good stuff I had the no claim bonus which is why I don't think our friend should go for the '05 model straight away, but that's just me

[I-K]

I K mate chill

Trust me, to get chilled out any further than I already am, I'd have to break out the beanbag and the lava lamp, and chuck Bob Marley on. There's no aggro in my responses, just the result of a calm "Right? What are they saying, where are the flaws in their reasoning, and how can I deconstruct it.".

Just as a matter of interest i had a rough count @ 40% of this topic is your opinion ..... seems like thats a pretty big opinion wouldnt you agree ?

Well, when five different people are coming at me all at once...

...you watch, in a few months, when Vash comes on as asks about how best to do through-the-box wheelies on his new 6, my contribution will be to remind him that he doesn't have insurance, followed by crickets.

If the topic's something I know nothing, or very little about, I keep quiet. Conversely...

[I-K]

...and I just wanted to add that it didn't cost me thousands to build up a no claim bonus 'cause I did it with cheapo cars with low premiums 'cause that's all I could afford at the time.

I put in my time in shitboxes, too, in the early and mid 1990's, in a shitty part of Sydney. No insurer would touch me.

[James]

If the topic's something I know nothing, or very little about, I keep quiet....

It didnt stop you this time!


Hey I-K - just jokes mate - I couldnt let that one slip by