Insurance

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Insurance

Phelics
4 years ago

My insurance is up for renewal. In fact, I have just renewed with a major insurer.
I received the Product Disclosure Statement and found that “theft” is defined as forcible entry into a locked building and the motorcycle stolen, or the motorcycle secured by locking device against an immovable fixture if not in such a building”.

Basically, parking at the pub, having a schnitzel and coming out to find your bike has been pinched is not “theft” and therefore not covered unless you chained it to the pub or some other immovable fixture with a locking device.

I think that’s really sneaky and you don’t find it unless you read the definitions in the fine print. Carefully.

So... there’s a 21 day cooling off period and that’s exactly what I plan to do tomorrow. But my question is, what is a good, reasonably priced insurance that doesn’t have little traps like this?

I recommend that you all take a moment to read your PDS because I bet some of you have exactly this insurance (comes via some dealers as well as stand alone).

Has put a sour taste in my mouth.

Wideglider
4 years ago

That's an interesting one with the PDS, might look mine up out of interest. It certainly would come as a surprise if bike was stolen and your claim rejected on the grounds you mention.
For me the insurance is mainly to get bike repaired after an accident (or payout if written off).
With the ear-piercing alarm, immobiliser and steering lock I really haven't ever had a worry with leaving my bike on the street for a while.

keith
4 years ago

As they regularly say , "shop around, read the fine print".

JFE
4 years ago

Phelics - what insurance company has that ridiculous detail? What a joke.

Phelics
4 years ago

There’s a few I’ve called today.
I’ve been told by one which is mentioned frequently in classic motor vehicle circles that they will not insure a motorcycle (that’s not a dirt bike worth under 10k) unless it is kept in a locked garage.

The clause in question at the start of this thread actually appears to be quite common. I thought it was outrageous but quite a few of them have it.

Point made above is right - read the fine print and the definitions very, very carefully. There are very serious exemptions or conditions if your bike is not in a locked garage with at least 4 of them today confirming that.

When they ask in the application where you store your bike and you say carport, not only does the premium go up but the fine print regarding storage in a carport is then invoked. It’s then up to you to provide that you fall into the exemption, in other words, that you had chained up that bike in the carport, and to an fixed immovable object (ie: the carport).

A lot of the places I tried were closed, although fair enough, it’s Saturday. Still haven’t found one I’m happy with. Didn’t think it would be this hard.

Ken in Cairns
4 years ago

I just went with Swan.

tussuck
4 years ago

My AAMI full cover policy does not include that wank definition of theft!.. (But at least you made me check which was good)

wello
4 years ago

anybody else insured with the harley dealership .. QBE ?

JFE
4 years ago

Yeah I’m with QBE. Never used them but price is good and never really gone up much. Going to look up the PDS, after the above advice.

wello
4 years ago

Quoting JFE on 22 Feb 2020 07:46 AM
Yeah I’m with QBE. Never used them but price is good and never really gone up much. Going to look up the PDS, after the above advice.

let me know how u go with that if u wouldnt mind mate

JFE
4 years ago

Hey Well the QBE PDS is worth a read.
Re: theft, no exclusions as mentioned above as far as I can see. Only mentions leaving it unlocked in a public place but doesn’t specify you need to do anything bar what you normally would (leaving it with HD alarm active).

Of note, in the situation where you let old mate have a test ride (if you are selling), you are only covered if you keep his licence. Otherwise, nada.

Interestingly, your bike isn’t insured if it isn’t roadworthy ... which technically if it has non-standard accessories, it arguably may not be.
Reminded me of the need to keep mods listed up to date so they can’t claim you never told them.

Lastly, if it’s unregistered at the time it’s not insured. Now that’s obvious, but it occurred to me if you let the rego lapse and some bastard steals it from yours, again no insurance.

Slightly different topic, last PDS I read was for my 4WD. Worth reading PDS if you ever were to take Offroad. Some cover, some don’t, strangely enough, some specify you are only covered if on a dirt road you are otherwise allowed on.

wello
4 years ago

Quoting JFE on 23 Feb 2020 05:30 AM
Hey Well the QBE PDS is worth a read.
Re: theft, no exclusions as mentioned above as far as I can see. Only mentions leaving it unlocked in a public place but doesn’t specify you need to do anything bar what you normally would (leaving it with HD alarm active).

Of note, in the situation where you let old mate have a test ride (if you are selling), you are only covered if you keep his licence. Otherwise, nada.

Interestingly, your bike isn’t insured if it isn’t roadworthy ... which technically if it has non-standard accessories, it arguably may not be.
Reminded me of the need to keep mods listed up to date so they can’t claim you never told them.

Lastly, if it’s unregistered at the time it’s not insured. Now that’s obvious, but it occurred to me if you let the rego lapse and some bastard steals it from yours, again no insurance.

Slightly different topic, last PDS I read was for my 4WD. Worth reading PDS if you ever were to take Offroad. Some cover, some don’t, strangely enough, some specify you are only covered if on a dirt road you are otherwise allowed on.

thanks mate some good info there , i will be at the harley dealership in the week so i will have an in depth chat with the girl there shes pretty switched on.
its a bit strange that this new bike doesnt seen to have the same alarm as my sport glide .. just the lights flash and thats it i think : /

RossW
4 years ago

Quoting JFE on 23 Feb 2020 05:30 AM
Hey Well the QBE PDS is worth a read.
Re: theft, no exclusions as mentioned above as far as I can see. Only mentions leaving it unlocked in a public place but doesn’t specify you need to do anything bar what you normally would (leaving it with HD alarm active).

Of note, in the situation where you let old mate have a test ride (if you are selling), you are only covered if you keep his licence. Otherwise, nada.

Interestingly, your bike isn’t insured if it isn’t roadworthy ... which technically if it has non-standard accessories, it arguably may not be.
Reminded me of the need to keep mods listed up to date so they can’t claim you never told them.

Lastly, if it’s unregistered at the time it’s not insured. Now that’s obvious, but it occurred to me if you let the rego lapse and some bastard steals it from yours, again no insurance.

Slightly different topic, last PDS I read was for my 4WD. Worth reading PDS if you ever were to take Offroad. Some cover, some don’t, strangely enough, some specify you are only covered if on a dirt road you are otherwise allowed on.

Quoting wello on 23 Feb 2020 08:22 AM
thanks mate some good info there , i will be at the harley dealership in the week so i will have an in depth chat with the girl there shes pretty switched on.
its a bit strange that this new bike doesnt seen to have the same alarm as my sport glide .. just the lights flash and thats it i think : /

For MY20 I understand HD made the alarm non standard. Also reduced the number of key fobs provided to one. My Sport Glide is MY19 and has alarm and 2nd fob as standard.

RossW
4 years ago

I'm insured with NRMA. They will not pay out for theft if you "fail to take reasonable steps to secure your vehicle", which kind of leaves it open to interpretation of what is "reasonable".
I'm guessing that means you're ok unless you leave the keys in it. I've generally had good claims experience with NRMA, but I've never had a theft claim. I had a friend have his claim turned down because he let some one test ride a bike he was selling and it never came back. Not sure whether that was NRMA though.

wello
4 years ago

Quoting JFE on 23 Feb 2020 05:30 AM
Hey Well the QBE PDS is worth a read.
Re: theft, no exclusions as mentioned above as far as I can see. Only mentions leaving it unlocked in a public place but doesn’t specify you need to do anything bar what you normally would (leaving it with HD alarm active).

Of note, in the situation where you let old mate have a test ride (if you are selling), you are only covered if you keep his licence. Otherwise, nada.

Interestingly, your bike isn’t insured if it isn’t roadworthy ... which technically if it has non-standard accessories, it arguably may not be.
Reminded me of the need to keep mods listed up to date so they can’t claim you never told them.

Lastly, if it’s unregistered at the time it’s not insured. Now that’s obvious, but it occurred to me if you let the rego lapse and some bastard steals it from yours, again no insurance.

Slightly different topic, last PDS I read was for my 4WD. Worth reading PDS if you ever were to take Offroad. Some cover, some don’t, strangely enough, some specify you are only covered if on a dirt road you are otherwise allowed on.

Quoting wello on 23 Feb 2020 08:22 AM
thanks mate some good info there , i will be at the harley dealership in the week so i will have an in depth chat with the girl there shes pretty switched on.
its a bit strange that this new bike doesnt seen to have the same alarm as my sport glide .. just the lights flash and thats it i think : /

Quoting RossW on 23 Feb 2020 09:55 PM
For MY20 I understand HD made the alarm non standard. Also reduced the number of key fobs provided to one. My Sport Glide is MY19 and has alarm and 2nd fob as standard.

yeh mine is same ..not worried so much about the 2nd fob .. but would have prefered the actual alarm .

Topics

Insurance

Insurance

Phelics

Wideglider

keith

JFE

Phelics

Ken in Cairns

tussuck

wello

JFE

wello

JFE

wello

RossW

RossW

wello