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Discussion Starter #1
For the benefit of others, i thought i'd note my efforts to get my 790d insured.

I currently have a v-strom 650 insured for 7k at a cost of $260 a year fully comprehensive with Shannons (previously insuremyride until they went under)

I rang them to say i was changing bike and they informed me my new premium was $1200 per annum. I went elsewhere.

My details: 35-50 male, full license, riding since i was 17.
Sydney metro area, private daily use, locked in a garage overnight

no points, cancellations, convictions in the last 5 years.
1 at fault claim in the last year (car accident).

my results were (all fully comp with agreed value of 12k or market value; $750 excess):

Swann $549
Famous Insurance $608
Youi $1006 (and were an absolute pain to deal with) and had an extra $1000 excess for the first 90 days
AAMI $647
mi-bike $538
 

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For the benefit of others, i thought i'd note my efforts to get my 790d insured
I'm curious if it works the same way in Oz as it does here in the USA, but individual Credit score plays an enormous factor in determining auto/moto insurance rates, as crazy as that sounds..
 

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Discussion Starter #3
I'm curious if it works the same way in Oz as it does here in the USA, but individual Credit score plays an enormous factor in determining auto/moto insurance rates, as crazy as that sounds..
road tax and insurance in Australia is a bit weird, but no; credit score doesn't affect your premium.

Sometimes if you want to pay by the month (rather than annually) they charge you a little more, but typically it's less than 10%.

I'll post later about how it all works as it's mildy interesting.
 

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Discussion Starter #4
Insurance Competition is pretty good in Australia with around (relating to vehicle) 4 or 5 underwriters and numerous general insurers.

Vehicle regulation is a bit more weird though. Out here (in the state of New South Wales) to be able to ride on the road you need:

Registration (also known as Road Tax), this is paid to the state government and gives you a license plate that must be displayed on the bike. You can buy it annually or 6 monthly. You don't get to choose your license plate for the standard fee. However you can pay a one off fee (around $150) and get your number plate in a color of your choice. There is a add on service where you can have a customized number plate but this costs quite a bit and you have to pay it every time you renew your license.
Motorcycle registration for my v-strom costs me $129

before you can get your registration you have to get your 'green slip'
A green slip (also known as CTP or Compulsory Third Party) is paid to an approved insurer (6 in NSW) and covers the person(s) you hit for medical expenses. It can cover you and some other bits and bobs depending on the circumstances. For example in NSW, for motorcycle riders who have an accident even if it's their fault they get medical and income payments. But it's a bit fuzzy. I think other countries do it better. South Africa put a duty on their petrol that covers CTP. Not sure how they will manage the change to electric though. Anyway my Green slip costs me $292 for the v-strom. Your CTP will vary depending on where you live and the vehicle insured but that's about it. They aren't allowed to ask too many questions for Green slips.

Before you can get registration (yes again) you might also have to get a 'pink slip' or 'blue slip'

Pink Slip (also called e-safety check) is a road worthy certificate. you have to take your vehicle to a testing station or participating mechanic and they do very basic checks that your car is 'roadworthy'. Basically they check that the lights, horn and indicators work, glass isn't smashed, and tyres aren't bald. They test the brakes. They don't do an ecu or emissions test. it costs about $30 and is done while you wait. Many people get their service done at the same time so that encourages mechanics to be part of the scheme. I don't think they make any money on this and possibly they go out backwards.
If your vehicle is less than 6 years old, you don't need a pink slip as it is just assumed your car is road worthy. Which is bonkers.

Blue Slip is a bit different, it's also known as the Authorized Unregistered Vehicle Inspection report. You need one if your car has never had registration (i.e. brand new) or you've bought it from another state*. You also need a blue slip if you've done something major to a vehicle, like put a new engine (has new vin number) or repaired a statuary write off. Blue slips for bikes are $40 and cars $65

Comprehensive insurance is optional, as is Fire, theft and third party property.


So, in order for me to get my bike, i have to pay:
Purchase price ($13,500)
Blue slip ($40)
Green slip ($458)
Registration ($133) (goes up by consumer price index each year, last year was $129)
Comprehensive insurance ($538)

so the actual total before i can safely hoon about is $14,669
plus i paid $160 for the bluetooth.

As you see, that's quite a bit different from the purchase price. And it's why dealers have to say with every vehicle sale "Drive away, no more to pay" or they have to say (+ORC) which is Plus On Road Costs. So that you know if you have to put aside another grand before turning the key.





*if you live interstate you can drive your car here in NSW, if you have a NSW license and own the car, you have to get it registered in NSW. Many companies keep an address in Queensland where it is much cheaper and there is no inspection. and register their cars up there even though they drive them down here.

Sources:
https://www.sira.nsw.gov.au/fraud-and-regulation/reforms/ctp-green-slip-reforms/green-slip-refunds
https://www.autoguru.com.au/car-advice/articles/whats-a-blue-slip-and-why-do-i-need-one
https://www.rms.nsw.gov.au/roads/registration/fees/registration-costs.html[url]
 

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For the benefit of others, i thought i'd note my efforts to get my 790d insured.

I currently have a v-strom 650 insured for 7k at a cost of $260 a year fully comprehensive with Shannons (previously insuremyride until they went under)

I rang them to say i was changing bike and they informed me my new premium was $1200 per annum. I went elsewhere.

My details: 35-50 male, full license, riding since i was 17.
Sydney metro area, private daily use, locked in a garage overnight

no points, cancellations, convictions in the last 5 years.
1 at fault claim in the last year (car accident).
my results were (all fully comp with agreed value of 12k or market value; $750 excess):

Swann $549
Famous Insurance $608
Youi $1006 (and were an absolute pain to deal with) and had an extra $1000 excess for the first 90 days
AAMI $647
mi-bike $538

My details: 25-29 Male, Full licence, riding since I was 17.
Sydney Metro, private use, locked in garage
No points, cancellations, convictions or claims in the last 5 years.
quoted for market value (~16k)

Swann: $931
AAMI: $924
NRMA: $810 (already have other policies)

Its always good to shop around. I know once I hit the infamous 30, insurance prices drop a lot.
 

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Discussion Starter #6
ouch!
thanks for the info.
I was chatting to the chap from Famous Insurance, he was saying that Naked Bikes have the highest insurance. To the point where a ducati monster will cost you more than a Ducati penigale

It was certainly a bit of shock compared to the $260 for the v-strom!
 

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A vote for NRMA from an inner Sydney resident...

I’ve had 2 fairly pricey ‘single vehicle’ claims in the last 4 years and they will still cover me and my new 790D for $498.

Perhaps more importantly, they are a pleasure to deal with, even when you’re carrying a collapsed lung, 7 broken ribs and a bellyfull of painkillers.....

https://www.790dukeforum.com/forum/attachment.php?attachmentid=1522&stc=1&d=1562765251

Tom in Sydney
 

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Discussion Starter #8
nice!
we used to be with them for everything but then they started creeping the premiums up
 

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I went with youi, was real easy, 500 a year, basically the same details, only difference is im not in a metro area, fully comprehensive, new for old if written off etc, even had one previous claim before this policy, kangaroo vs car, they were real easy to talk to and sorted it all out within the hour
 

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Discussion Starter #10 (Edited)
I didn't like youi at all.
scripted and disingenuous.
I tried to do it all online, then when i submitted the form it said "no we need a mobile number to verify you are not a bot"
i was unimpressed but thought oh well, if you are just trying to stop bots.
then clicked 'finish'
to get a message saying, thanks we've got your number now and we'll call you.
then spent another 20 minutes on the phone.
resulting in the second highest quote.

so yeah, won't be using them again.

still...i heard bad things about budget direct and they were great when i had a car accident many years ago.
 

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Insured my 790 today with Famous. $383.31 I'm in the 40plus category.
Multistrada is with them as well $560.
Tried a few other companies a few years ago with the Multi, all $400 plus on the Famous renewal, except for QBE who wanted $1500.
I'd like to know how they work out the premiums. Dart board?
 

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Just for perspective across the ditch in NZ, I'm currently with Star Insurance. 71 year old male, rural location, no convictions or claims. Fully comprehensive policy, any rider AUD 508. That includes roadside breakdown assistance and a clothing/helmet replacement of AUD 1100.

However, I'm a member of the NZ branch of the UK Institute of Advanced Motorists (IAM). They've just done a deal with Aon insurance for decent discount for riders with recognised advanced roadcraft qualifications and I think that will give around a further AUD 100 off the total cost next year. There's also a national upskilling programme for riders called Ride Forever (https://www.rideforever.co.nz/). There's some conditions but by attending, you can get the equivalent of AUD 95 off your vehicle registration.
 

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Found it odd after moving to the UK that the insurance policy covers the individual not the vehicle. Which means for anyone to drive the vehicle, they either need to have their own insurance policy, which would also need to cover them driving other vehicles, or be a named driver on your policy.

In SA the policy covers the vehicle and means anyone who is licensed can drive that vehicle and be covered. Is it the same in Aus/NZ?

In London, my insurance when I got the bike for the first year was about £700, was expected, because London and a brand new bike, the renewal has just gone through this year for £480, which is still ridiculous, but a lot better than the £2,500 they wanted for insuring a SuperDuke :surprise:
 

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Found it odd after moving to the UK that the insurance policy covers the individual not the vehicle. Which means for anyone to drive the vehicle, they either need to have their own insurance policy, which would also need to cover them driving other vehicles, or be a named driver on your policy.

In SA the policy covers the vehicle and means anyone who is licensed can drive that vehicle and be covered. Is it the same in Aus/NZ?

In London, my insurance when I got the bike for the first year was about £700, was expected, because London and a brand new bike, the renewal has just gone through this year for £480, which is still ridiculous, but a lot better than the £2,500 they wanted for insuring a SuperDuke :surprise:
In NSW the Third Party insurance which is part of the registration process covers the vehicle but rider/driver have to be licensed for that vehicle.

The comprehensive insurance (damage, theft, etc) covers the person who will ride/drive the vehicle. You can nominate others to be users of the vehicle and what percentage of use they have. They are named on the policy. Premiums will vary depending on age, convictions for speeding, DUI's, claims on insurance etc of extra riders/drivers.

It might vary from state to state.
 

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Hi Bought a brand new 2018 "floor demo - never ridden" for $12k ride away (12mths Vic Rego) Today

Just did a bunch of online insurance quotes
1. $368.52 QBE monthly payment option no surcharge by direct bank withdrawal.
used "SAVE75" discount code I found using google also found "SAVE50" so I tried "SAVE100" but that wouldn't work lol
2. $392.00 Motoi
online authorised representative of QBE Insurance
3. $397.80 Swann Insurance
4. $426.44 AAMI
$400 excess $500 excess was like $8 cheaper

My details 50+ years old Rating 1 No accidents No claims No loss of licence last 5 years - No questions about speeding tickets (got a couple of course)
Bike resides in locked garage in regional Victoria. estimated k's per year 4-8K

I hope this info helps someone - if only their discount code convention to try SAVE##

Stay Safe, Social Isolate & Stay Upright
 
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