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
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 
Good work.