The Insurance Thread !

[wana]

I have got a new quote for a 2010 ER6N for 14,000 thb

thats excessive i think since since it costs the same to insure a new one

and this one is 2 years old soon and probably worth in region of 100k

less than a brand new one should it get stolen

is this a decent deal ? 10% of the value of the bike seems very heavy

for insurance rates

[BigBikeBKK]

Yeah, that's steep, but the rates have gone way up for that class of bike due to all the claims. How much coverage do you get for 14k baht on the policy you're looking at? I pay 18k a year for 350k coverage on my Gixxer plus all the other standard stuff.

[wana]

Yeah, that's steep, but the rates have gone way up for that class of bike due to all the claims. How much coverage do you get for 14k baht on the policy you're looking at? I pay 18k a year for 350k coverage on my Gixxer plus all the other standard stuff.

the policy is fairly comprehensive

, it covers 1st class (all parties in the event of an acident ) ,complete loss of the bike and also if the bike is crashed so badly its written off i think they will pay the insured value towards a new one

i hoped it would be cheaper because a 2+ year old one is only worth 150-175k when it costs 250k to get a new one

40% less payout in a claim and the same price price policy sounds like bad economics but variya dont deal with the public directly for bikes so it looks like the only option is get it from a broker that re-sells for them ...........

[SumetCycle]

A growing big bike market with new riders equals more insurance claims.

[BigBikeBKK]

Yeah, that's steep, but the rates have gone way up for that class of bike due to all the claims. How much coverage do you get for 14k baht on the policy you're looking at? I pay 18k a year for 350k coverage on my Gixxer plus all the other standard stuff.

the policy is fairly comprehensive

, it covers 1st class (all parties in the event of an acident ) ,complete loss of the bike and also if the bike is crashed so badly its written off i think they will pay the insured value towards a new one

i hoped it would be cheaper because a 2+ year old one is only worth 150-175k when it costs 250k to get a new one

40% less payout in a claim and the same price price policy sounds like bad economics but variya dont deal with the public directly for bikes so it looks like the only option is get it from a broker that re-sells for them ...........

Sorry if you didn't understand my question- what is the INSURED VALUE of the bike? If the bike is stolen or totalled how much does the policy pay?

I recall that the policies I bought for my ER6n, Ninja 650R and Versys didn't cover 100% of the value of the bike. More like 80%. Then after the first year, the amount of coverage went down (but so did the premiums thanks to no-claim bonus).

Anyway, rates have gone way up due to all the claims. It's still relatively cheap insurance though. Of course if it's too expensive for you, you could just go with the basic "Por Ro Bor" ~600 baht insurance required by law and skip the first class insurance. Just don't get into a serious accident!

Ride On!

Tony

[thaicbr]

cbr250 2011 . 6.900b 1st class. I can't remember what's covered. but I'm sure Brian will remind me. hopefully my PREMIUM will go down next year

[Polanskiman]

Yeah, that's steep, but the rates have gone way up for that class of bike due to all the claims. How much coverage do you get for 14k baht on the policy you're looking at? I pay 18k a year for 350k coverage on my Gixxer plus all the other standard stuff.

the policy is fairly comprehensive

, it covers 1st class (all parties in the event of an acident ) ,complete loss of the bike and also if the bike is crashed so badly its written off i think they will pay the insured value towards a new one

i hoped it would be cheaper because a 2+ year old one is only worth 150-175k when it costs 250k to get a new one

40% less payout in a claim and the same price price policy sounds like bad economics but variya dont deal with the public directly for bikes so it looks like the only option is get it from a broker that re-sells for them ...........

Sorry if you didn't understand my question- what is the INSURED VALUE of the bike? If the bike is stolen or totalled how much does the policy pay?

I recall that the policies I bought for my ER6n, Ninja 650R and Versys didn't cover 100% of the value of the bike. More like 80%. Then after the first year, the amount of coverage went down (but so did the premiums thanks to no-claim bonus).

Anyway, rates have gone way up due to all the claims. It's still relatively cheap insurance though. Of course if it's too expensive for you, you could just go with the basic "Por Ro Bor" ~600 baht insurance required by law and skip the first class insurance. Just don't get into a serious accident!

Ride On!

Tony

The insured Value for the Versys I just bought is 230.000 Baht (~ 80% of the bike value at purchase).

[wantan]

Anyway, rates have gone way up due to all the claims. It's still relatively cheap insurance though. Of course if it's too expensive for you, you could just go with the basic "Por Ro Bor" ~600 baht insurance required by law and skip the first class insurance. Just don't get into a serious accident!

Wana sure knows that there are many options between 1. class and basic insurance. Maybe try to take good care of you and your bike and take 2. class? I guess it depends on how much you want to drive the bike and how many other bikes you have that also need insurance.

[BigBikeBKK]

cbr250 2011 . 6.900b 1st class. I can't remember what's covered. but I'm sure Brian will remind me. hopefully my PREMIUM will go down next year

IF you keep her shiny side up!!!

[SumetCycle]

cbr250 2011 . 6.900b 1st class. I can't remember what's covered. but I'm sure Brian will remind me. hopefully my PREMIUM will go down next year

It covers pretty much everything. I'll post some more details when I get to the shop tomorrow. We recently had a customer do around 20,000 baht worth of damage to his CBR 250. The insurance company was very prompt in paying out for the repairs. I imagine his premium will be going up next year, while safer more sedate drivers' premiums will be going down.

The insurance for my new bike is over 20,000 per year. I hope I don't ever need it though.

Edited February 21, 2012 by SumetCycle

[wana]

Yeah, that's steep, but the rates have gone way up for that class of bike due to all the claims. How much coverage do you get for 14k baht on the policy you're looking at? I pay 18k a year for 350k coverage on my Gixxer plus all the other standard stuff.

the policy is fairly comprehensive

, it covers 1st class (all parties in the event of an acident ) ,complete loss of the bike and also if the bike is crashed so badly its written off i think they will pay the insured value towards a new one

i hoped it would be cheaper because a 2+ year old one is only worth 150-175k when it costs 250k to get a new one

40% less payout in a claim and the same price price policy sounds like bad economics but variya dont deal with the public directly for bikes so it looks like the only option is get it from a broker that re-sells for them ...........

Sorry if you didn't understand my question- what is the INSURED VALUE of the bike? If the bike is stolen or totalled how much does the policy pay?

it pays out whatever % the agreed determined value is ........sorry if you find this dificult to comprehend since basic comprehension is usually beyond your personal grasp anyway ......

if the insurance company and myself agree the value is 180k or whatever then that is how much they base their figures on and ultimately pay out in the end if

the unimaginable happens ......

its the same insurance policy a new kwacker gets and also the same price even though the potential loss will be less if they have to pay out ...

[BigBikeBKK]

Yeah, that's steep, but the rates have gone way up for that class of bike due to all the claims. How much coverage do you get for 14k baht on the policy you're looking at? I pay 18k a year for 350k coverage on my Gixxer plus all the other standard stuff.

the policy is fairly comprehensive

, it covers 1st class (all parties in the event of an acident ) ,complete loss of the bike and also if the bike is crashed so badly its written off i think they will pay the insured value towards a new one

i hoped it would be cheaper because a 2+ year old one is only worth 150-175k when it costs 250k to get a new one

40% less payout in a claim and the same price price policy sounds like bad economics but variya dont deal with the public directly for bikes so it looks like the only option is get it from a broker that re-sells for them ...........

Sorry if you didn't understand my question- what is the INSURED VALUE of the bike? If the bike is stolen or totalled how much does the policy pay?

it pays out whatever % the agreed determined value is ........sorry if you find this dificult to comprehend since basic comprehension is usually beyond your personal grasp anyway ......

if the insurance company and myself agree the value is 180k or whatever then that is how much they base their figures on and ultimately pay out in the end if

the unimaginable happens ......

its the same insurance policy a new kwacker gets and also the same price even though the potential loss will be less if they have to pay out ...

There you go with the insults again, yet since you're unable to answer such a simple question one might conclude that you have not bothered to read or do not understand your policy. The policy states the insured value of the bike. It's not something you and the insurance company will argue about once your bike is stolen or totaled. The insured value is stated very clearly in your policy.

You asked in your OP is the 14k Baht premium is a "a decent deal". Well, how can anyone answer if you don't tell us how much coverage you get for 14k Baht?

The SIMPLE question that I asked you and which you seem unable or incapable of answering is, once again, for 14k Baht premium what is the INSURED VALUE of your 2 year old bike?

Edited February 21, 2012 by BigBikeBKK

[wana]

@BBBKK

i didnt buy the policy yet so and the bike has not been stolen yet SO NO SETTLEMENT AMOUNT HAS BEEN AGREED UPON between myself and any would be insurors !!!

as usual your reasoning is in line with your common sense or lack there of

,this thread was started to compare the best deals on policys before i do ..........

the insurance i choose is likely probably going to be the same policy ER6N owners are offered when they buy their new bikes

seeing as its coming from the same company (XXXXXXXXXXXX in BKK) UNLESS I FIND A BETTER ALERNATIVE

I dont mind paying 14k for insurance but also dont think its "a good price " by any means ,

i will pay a lower amount if another reputable insurance company quoted better in the mean time

and thanks for everyone else who contrubuted non diatribe to the thread

[ajahnlau]

Thick as mud.

[snowflake]

Wana, I think what he is refering too is that in the insurance document they will give you there is a price they have set on your bike, this is normaly 80% of the new bikes value for the 1st year.

And example came up. the Versys is around 285k, but they will only insure 230k... Even when you roll out of the showroom.

As for second year... I can't tell since I have never had a bike that long- if you wait until September, well then I can tell you.

Keep riding, stop bitching (the both of you)... all you do is wind each other up and bore the rest of us. (are you two friends in real life and you decide offline how to pick a fight online?)???

[thaicbr]

cbr250 2011 . 6.900b 1st class. I can't remember what's covered. but I'm sure Brian will remind me. hopefully my PREMIUM will go down next year

IF you keep her shiny side up!!!

well I have watched the video now. so I know what I was doing wrong (everything)

will hopefully get some time to get down to NC track to do some safer practicing.

[katabeachbum]

2011 Ninja650 in Falcon at 12.890 baht, my 2010 in august 2009 was 6.xxx baht, so its doubled in 2 years. Covers bike up to 180.000 baht, 5.000 baht self deductibel. Only 2million 3rd party property(should be 5 million), only 50k bailbond which is a joke, anything less than 200k is.

Not very good cover, IMHO very high price. Dont think I will bother to renew, except 3rd party/200k baht bailbond

a friend had bike in Viriyha, minor accident, wouldnt cover one new part, pavement shop "repaired" it all, looked like crap, almost worthless insurance

[Travelmate]

Triumph Tiger 1050 TB20,000

KTM 690 SMC R TB25,000