Kawasaki Sportsbike Riders Club - Australia - Online Forum

Insurance is farked..

I just found an email from last year.. quoted $900 to insure a farking Feroza... My GF's father just insured an '89 Grey Import MX5 soft top for $230 a year...

it's farked.. like it's not like a lil 4x4 is a high theft risk.. it's not a high speed machine so speeding tickets, and risk of accidents due to speed aren't that high...

I believe that Rob is saying, that if he explained his issue to the ACCC that surely there would be a rebuttle to this type of denial of service. Or are they seriously allowed to turn a customer away with a reason that is just an excuse?

They don't have to take your money. They have the right to choose if they wish to insure anyone, and I think that's how it should be. It does suck, though. If all companies started to do it, another company would start up to service the '3 claims and over' crowd, but for now it's only Arista by the sounds of it. Still plenty of other options (QBE, Shannons, etc)

And considering the number of people just on this board alone who have done major damage or written off their bikes... I'm not at all surprised insurance is so costly for sportsbikes.

That's a bit harsh Cath

Cath wrote:.....And considering the number of people just on this board alone who have done major damage or written off their bikes... I'm not at all surprised insurance is so costly for sportsbikes.

Cath
cost is only a small issue in this post
getting insurance in the first place seems to be the major hassle...

Insurance companies are assholes, are only interested in taking the risk out of insurance. Heeelllooo that's the industry your in cockheads.

I understand that you are upset, and I struggle getting insurance the same as the next person, but this just hilights the fact that people don't understand insurance.

What everyone fails to remember is that an insurance company is a business. They are responsible to their shareholders and also to those people they they do insure.

If they drop what they see as poor risks then that improves the return for shareholders, and in turn allows them to offer a cheaper premium to their existing members than they would if they insured everyone that came knocking.

It's gambling. Would you gamble on a horse that, statistically, is going to lose almost every time? Hell no! So why would an insurance company?

it's farked.. like it's not like a lil 4x4 is a high theft risk.. it's not a high speed machine so speeding tickets, and risk of accidents due to speed aren't that high...

Think outside the square a little. What about parts? MX5's are a lot more common than Ferozas, so second hand parts are probably not as easy to get hold of. Often grey import models have common parts with local models. Also, what is Daihatsu's pricing on new parts compared to Mazda? The differences in costs between manufacturers, and even just different models for the same manufacturer, can be staggering.

Also, how likely is it that an MX5 will be tipped over? Not very. What about a tall light four wheel drive with spongy tyres, a short track and short wheelbase? Very likely. Then add to it that the Feroza can go offroad, people think they can drive them over gutters, rocks, etc and then all of a sudden the sports car doesn't seem that bad in comparison. Then you have the postcode it is kept in, the age of the driver, etc, etc, etc... it's not all as straighforward as you would imagine.

Arista will not insure anyone who has 3 claims, regardless of the reason.

Insurance companies work off patterns. We had one a few years ago where this same guy made three claims in five years for "Damage While Parked"... as it turned out he was parking with the car hanging two feet out of the parking spot every time.

Other people get rear ended a lot, or get hit by people pulling out on them. Sure, there's bad luck involved, but it demonstrates that you mayn't be as careful as other drivers (riders). Being able to emergency brake in time for the car in front of you doesn't mean you are a safe driver. You shouldn't have to brake rapidly, you should be paying enough attention in front AND behind you. same goes for people that pull out... if you were paying more attention you may have been able to stop, avoid or lessen the severity of accident.

It always seems unfair when you're on the receiving end, but they have to price insurance on something, and I'm afraid that statistics are it. Just because you didn't cause the claim doesn't mean it doesn't cost the insurer anything....

I'm with QBE, my insurance went down this year - and if I had changed my cbr for a ZX750r it would have been $200 cheaper. It's still way too high for my liking, but as I am only on my second insurance policy in Aus I can't complain. Last year $1200 full comp this year 1064, looking ofrward to rating 1.

"classic cars insurance" (i think that's the name)..... 50% cheaper then anywhere else, although, i've never made a claim in my life (knock on wood)...

just one of those things you gotta pay for that you hope you never need

alot of people here who have stacked, have fixed their bikes out of their own pocket..

alot of people even if they don't say it, don't have insurance..

There is a bit of a theory that insurance is in a vicious circle.

Bad drivers/riders make claims, so therefore insurance prices go up.
Good drivers/riders who have never made a claim take the chance and don't get insurance.
Bad drivers/riders then represent a greater percentage of those insured, and as such claims statistics get even worse, and insurance goes up even more.
And then it goes on and on...

Smitty wrote:Cath
cost is only a small issue in this post
getting insurance in the first place seems to be the major hassle...

Well, it appears that QBE and Shannon's will still insure someone who has three claims, so I am not seeing the "major hassle" here. Arista is running a business, and have the right to make choices on who they will or will not insure. Yes, it sucks if you're on the receiving end, and in this case it doesn't make sense since all of the claims weren't at-fault, but maybe the administrative cost of weighing up each case is higher than just introducing a blanket rule? Even if it isn't, it's Arista's choice to make.

It's not as if you can't find ANY insurance if you have three not at fault claims. Just not at this one company. So, you take your money and go to another company. And in five years, that company will change their rules, so you take your money to a third company (or back to the first, who have since changed their rules back since they lost so much business on not insuring anyone).

Mark wrote:That's a bit harsh Cath

Sorry if that came across as harsh. I honestly wasn't having a go at anyone for having an off. I'm 100% convinced I'm overdue for an off, and will have one sooner or later. I just hope it's at a relatively slow speed when it happens. I was only trying to underline the fact that bikes crash regularly (*even* in our group, which IMO is mostly sensible riders, not irresponsible, high-risk idiots), and when they crash, they often get written off, or sustain very expensive repairs (high cost of fairings and parts, etc). I wasn't having a jab at anyone for coming off at all. It happens. Part of being a bike rider, IMO.

I have not told anyone who they should or should not insure with and quite frankly, i don't give a rats ass.
Just letting people know what happened. Do with it, what you will.

Let's just hope the next person that hits you has insurance.

hmmm, Well I'm insured with Shannons and when I took out the policy had a long chat with them. They are very fussy as to who they insure and if your under 35 on a sportsbike I'd say they won't touch you.
For me they were substantially cheaper than any of the other insurers but that was due to my riding experience and 0 claims on cars or bikes in 20 years.!!
I sure stuffed that up didn't I....

One thing I will say is that over the last 20 years I would have spent well over $20,000 on vehicle insurance, so the insurance industry has done very well out of me.

A lot of your comments are so off the mark, as are those of the insurance company.
Facts:
Bike was at a shop getting a new tyre, when it was dropped. Could i prevent it? Not farken likely..
Both occasions in the car i was stopped at lights (hadn't pulled up quick) when i was rear ended. My fault? Hardly, wrong place at the time. If i was to brake hard and put the car behind in that position, i would admit partial blame. But lets not let facts blur the situation, hey. Shits not always black and white.
I agree with Dan, insurance companies are farked. Banks are tared with the same brush. Greedy farkers, with one thing in mind, how to screw as much out of their customers. I am not a knob, know a few things about business and how they operate. If the average business operated with such disregard for their customers, they would not be in business.

I suppose People who's houses get broken into are to blame, because they should have been home. It's your fault because your car got stolen, cause you shouldn't have gone to the shops. etc.....

I know the Insurance company owes me nothing and have told me in advance, they don't want my business. That's cool, i'll go elsewhere and give someone else my business. Pisses me off when the reasons are not justified, really. (shits me, because Arista were cheap too) But hey, cheaps not always better, when your dealing with prostitutes.
Sorry it's abit long, but a few comments here annoyed me.

Oh well, have 60% no claim bonus, time to go shopping.

im with classic cars...Plasma was with them, he got sorted out quick, but apparently if u have a claim with em they wont touch u again...i got my blade insured for $550 a yr comp for $10k...NOONE else would touch me, thats why it was never insured b4..last quote i got was abt $2900....
over here it seems very few companies will insure ANY bike over 750cc , or any bike over 600cc if the rider is under 30...go figure...
Rob, there all pricks, good luck finding a good one (and if u do, let me kno who it was)

neka79 wrote: got my blade insured for $10k...NOONE else would touch me

I'm not suprised... I'm suprised you found ANYONE that would insure a Honda for $10K!!