First Class Insurance For Big Bikes

[BlackArtemis]

Why yes, I did do a few searches before making this topic.

The problem is that I noticed people talking about plans that seem to no longer exist.

2011 Ninja 650

AA: 14400B

Muang Thai: Doesn't have anything about motorcycles on it's website.

AXA: Nor does AXA

AIA: "Sorry we only cover BMW and up" <- which is a weird sentence if you think about it.

Viriyah: Haven't heard back from them yet.

MSIG: Haven't looked

Thanachart: Same

It just seems that so few insurance agencies cover larger bikes.

Any suggestions so I can get this bike on the road?

[NomadJoe]

I have recently been doing the same. I have now checked 5 places and everyone has gotten out of insuring big bikes. The one exception seems to be Falcon. When I bought my 1st Ninja 650 in 2009 it was 7400B per year with Lockton, now with all the numpties wrecking their big bikes and making claims it has shot up to 16000B per year with Falcon.They have no office in Phuket where I am so I have to go through the dealer I bought my bike at.

Edited May 6, 2013 by NomadJoe

[canopus1969]

Talk to the Sponsors - AA Ins Brokers, they can insure all bikes big and small

[BlackArtemis]

I listed AA first.....

Sadly they look like they are going to be the best option at 14000

They are offering:

Third party liability

-Bodily Injury or death

500,000 Baht / Person

10,000,000 Baht / Accident

-Property Damage

1,000,000 Baht / Accident

Deductible

0.00 Baht / Accident

Own damage

-Own Damage

160,000 Baht

Amount of Deductible

10,000 Baht/Each Accident

-Fire & Theft

160,000 Baht

Driver & Passenger

Personal Accident

-Personal accident benefit for

1 driver & 1 passengers:

Bht. 100,000 / Person

-Accident Medical Expense

Bht. 100,000 / Person

-Bail bond

Bht. 900,000 / Accident.

I can then pick up Personal accident insurance, if I read it correctly, Muang Thai has up to 500,000B for "Motorcycling" for only 4200/year

So 100k from AA, 500K from Muang Thai and whatever else from my work (I am getting a total break down of my work plan this week)

I also still have some insurance from the US, but that will only pay 50% out of network, but combined I should have enough for a limb to be reattached haha.

[mania]

Dont know where you live but I went MSIG due to Kawasaki

claiming they were the best for CM

I paid 9776 THB for full coverage 2013 N250

Which for some reason ( probably more N250 claims ) I think

is more than the 650 full insurance runs...may be wrong

[BlackArtemis]

Dont know where you live but I went MSIG due to Kawasaki

claiming they were the best for CM

I paid 9776 THB for full coverage 2013 N250

Which for some reason ( probably more N250 claims ) I think

is more than the 650 full insurance runs...may be wrong

I'm in Chiang Mai as well, I'll contact them tomorrow and report back.

[loserlazer]

Tokio marine 1st class insurance is 8000 thb something for cbr500r but i think they do not do that for other brands. Just check.

Edited May 6, 2013 by loserlazer

[Garry]

Tokio marine 1st class insurance is 8000 thb something for cbr500r but i think they do not do that for other brands. Just check.

I insure my SUV with Tokyo Marine. I'm sure everybody wanted to know that My Ducati is through AA. Been with them for a few years now. Agreed value on the bike.

[mania]

My Ducati is through AA. Been with them for a few years now. Agreed value on the bike.

Sorry OT but curious what you mean Garry by " Agreed Value"

I did notice even with the N250 that theft compensation is even from day one

a good 20-25% less than what you just paid for the bike

So on expensive bikes like the Ducati I wondered too

Is it closer this agreed value? And how did you folks come up with it?

Thanks

[Wong!]

I think my bike is with MSIG and it was a fair bit more than Tokyo Marine (who I shall be contacting in about 10 months time!).

[krbkk]

the best one is Muang Thai and Viriyah

the worsted you can do is AA ( LMG)

look at search function in this Forum you can read a lot af Treads and very bad Comments for AA

[BlackArtemis]

the best one is Muang Thai and Viriyah

the worsted you can do is AA ( LMG)

look at search function in this Forum you can read a lot af Treads and very bad Comments for AA

Does Muang Thai do Bike insurance? I see nothing on their website, only cars.

[Ticketmaster]

I just couldn't see paying 12,000 and up every year. I decided to go bare. I am the one most likely to be injured by somebody else. So I take my chances. In the event that I hurt somebody else, and I am pretty careful, most cases can be settled here for one annual premium payment. Westerners are indoctrinated to be obsessed about having insurance. What is life without risk? If I didn't like risk, I wouldn't ride.

[BlackArtemis]

I hope that is a troll post, because if not it is one of the most foolish things I have ever read.

If I can afford to drop down a lump sum of almost 200k, I can afford 1000B a month, hell I spend more than that on stupid things each month

[RubberSideDown]

About 12 years ago I paid an additional 1500 baht for first class insurance on a Wave- everyone else who bought a scooter took the free insurance that covered the first year (which Honda always tosses in) and they thought I was a fool for spending the extra money (I was the first person who had gone for the option according to the dealership).

Less than 2 months later, my condo parking lot was cleaned out of bikes (presumably by thieves with pick up trucks)- I got 40,000 baht from my insurance company and bought a new Wave (they were 42K at the time)- everybody else got screwed.

Being reasonably insured isn't about fear of 'risk'- it's about taking steps to minimize your financial hit when something out of your control happens- not being adequately covered is like riding without a helmet- sure, most of the time you won't really need it, but you'll be glad you have it when the day comes... Bikes are dangerous enough even when all reasonable precautions are taken- I see no good reason to unnecessarily increase the possibility of disaster (physical or financial)- I accept the inherent risk, but I also do everything I can to decrease it.

It's not just about medical coverage- it's also about the replacement of your bike.

[mania]

It's not just about medical coverage- it's also about the replacement of your bike.

Kind of did the same

But about a year ago bought a new wave elec start 125i 55,900 THB cash

They threw in the govt insurance & I bought 1 year theft for 1200 baht

Luckily none has stolen the wave but I thought for $36 bucks/1200 baht it was a good deal

On my Kawasaki I have full 1st class insurance but it is true when one thinks about it

most times the damages a motorcycle can cause are small. It is really the theft coverage

that interests us riders most.

But then again I guess if involved with a car there is a chance it will be blamed on the foreigner

so there is that

In any case I am paying something like $270 a year full coverage that is reasonable compared to back in the US

But here as I said in another post the theft is quite low compared to actual value.

On the N250 I paid 160k & the replacement/theft insurance pays 130k even from day one

Back home your bike is replaced one way or another after initial co-payment/deductible

Edited May 7, 2013 by mania

[RubberSideDown]

When I reported the theft they sent over an agent who insisted on seeing my arms and legs to check for injuries- he said they needed to confirm that I didn't crash the bike and ditch it, and then report it as stolen.

It was actually recovered months later (in Khon Kaen, I believe) with the ignition ripped out and many parts missing (though it was running)- it was being used on a farm or something- it was the insurance company's bike at that point so it was their problem.

Edited May 7, 2013 by RubberSideDown

[krbkk]

Does Muang Thai do Bike insurance? I see nothing on their website, only cars.

about 50% of the new Harley Davidson, selled from Harley Davidson Bangkok, are insured by Muang Thai

Edited May 7, 2013 by krbkk

[BlackArtemis]

Does Muang Thai do Bike insurance? I see nothing on their website, only cars.

about 50% of the new Harley Davidson, selled from Harley Davidson Bangkok, are insured by Muang Thai

I'll call them tomorrow, thanks. I just did not see anything about motorcycles on their website.

[Ticketmaster]

I hope that is a troll post, because if not it is one of the most foolish things I have ever read.

If I can afford to drop down a lump sum of almost 200k, I can afford 1000B a month, hell I spend more than that on stupid things each month

Not a troll post. But for two years now, I've had an extra 1,000 baht a month to spend on stupid things. Insurance, as you know, is a collective effort to pool resources and spread risk. But with some of these idiots that have ridden Honda Waves all their lives now getting 650's and cracking them up on day one, things are skewed. I simply don't want to subsidize them anymore.

I have near perfect health, too, so I don't have health insurance. Is it a gamble? Sure. But when a healthy person pays into the collective he subsidizes all the people with AIDS, cancer, etc.

Ya plays the game, ya takes ya chances. Everything is sweetened by risk.

[RubberSideDown]

Most of those people with AIDS, cancer, etc were also once perfectly healthy- it's not like they contracted those conditions and then purchased insurance (in which case they would have been denied coverage due to pre-existing conditions).

I can perform a risky activity (motorcycle riding) while knowing that I'm covered if disaster strikes- my experience is actually 'sweetened' by that fact- it certainly wouldn't be enhanced by knowing that if some fool blows a red light I could be left physically and financially staggered through something I had no control over- its the same reason I don't ride without proper gear.

[BlackArtemis]

I hope that is a troll post, because if not it is one of the most foolish things I have ever read.

If I can afford to drop down a lump sum of almost 200k, I can afford 1000B a month, hell I spend more than that on stupid things each month

Not a troll post. But for two years now, I've had an extra 1,000 baht a month to spend on stupid things. Insurance, as you know, is a collective effort to pool resources and spread risk. But with some of these idiots that have ridden Honda Waves all their lives now getting 650's and cracking them up on day one, things are skewed. I simply don't want to subsidize them anymore.

I have near perfect health, too, so I don't have health insurance. Is it a gamble? Sure. But when a healthy person pays into the collective he subsidizes all the people with AIDS, cancer, etc.

Ya plays the game, ya takes ya chances. Everything is sweetened by risk.

I've known to many people in my life to end up needing medical insurance to ignore that. I myself have racked up large medical bills even in this country.

I've also known too many people who have had their vehicles wrecked or stolen here and back home.

Again for me 12,000 to cover 200k plus the what if is totally worth it for me.

I hope you win the odds man and never need it, good luck.

[Garry]

My Ducati is through AA. Been with them for a few years now. Agreed value on the bike.

Sorry OT but curious what you mean Garry by " Agreed Value"

I did notice even with the N250 that theft compensation is even from day one

a good 20-25% less than what you just paid for the bike

So on expensive bikes like the Ducati I wondered too

Is it closer this agreed value? And how did you folks come up with it?

Thanks

No problem answering this. I told them what I bought the bike and gave them a copy of the receipt and contact details of gthe previous owner, plus giving them a bunch of detailed photos of every angle of the bike. Close ups etc, as they requested. They agreed to insure the bike for what I paid for it based on our email traffic. My bike has depreciated 10% in the last 3 years based on their insurance formulas / guidelines.

[BlackArtemis]

Called Muang Thai today, they do not cover motorcycles. Companies are dropping coverage ASAP it seems.

[taninthai]

I hope that is a troll post, because if not it is one of the most foolish things I have ever read.

If I can afford to drop down a lump sum of almost 200k, I can afford 1000B a month, hell I spend more than that on stupid things each month

Not a troll post. But for two years now, I've had an extra 1,000 baht a month to spend on stupid things. Insurance, as you know, is a collective effort to pool resources and spread risk. But with some of these idiots that have ridden Honda Waves all their lives now getting 650's and cracking them up on day one, things are skewed. I simply don't want to subsidize them anymore.

I have near perfect health, too, so I don't have health insurance. Is it a gamble? Sure. But when a healthy person pays into the collective he subsidizes all the people with AIDS, cancer, etc.

Ya plays the game, ya takes ya chances. Everything is sweetened by risk.

One of the other important parts of insurance is your bail bond if you have an accident that results in someones death you are straight to jail ,if you can't pay you are staying in jail,I prefer to have my insurance man turn up and set me free

[Fishenough]

BA, get AA to give you a quote of 1st class insurance from several different companies, including some of the ones you listed. Prices and coverage options will change. Make me' work a bit harder.

I won't even bother listing all the possible situtations that could, and some have, happen to those that have only the required minimal insurance. Risk does add to the excitment.

[BlackArtemis]

BA, get AA to give you a quote of 1st class insurance from several different companies, including some of the ones you listed. Prices and coverage options will change. Make me' work a bit harder.

I won't even bother listing all the possible situtations that could, and some have, happen to those that have only the required minimal insurance. Risk does add to the excitment.

Thanks for the idea.

And I agree, the bike has been parked for almost 2 weeks as I sort this out, it's painful to pass each day as I get on my Honda dream, but it's the smart choice...

[BlackArtemis]

AA will only use the one quote they gave me.

Tokio Marine will not insure my bike either.

GT-Rider wrote back explaining that companies used to say they will cover a "big bike" with first class as long as it was a certain CC. It used to be 250cc, then 650cc, now 900cc. Now they will cover the bike only if it is valued at an amount over 200,000B

It seems Tokio may still cover new bikes.

So how many No's have I gotten?

It looks like AA is one of the only choice if you want to get first class on a second hand big bike.

Pain in the ass.....

Just got told Virayah will not give me 1st class, only 2nd or 3rd, they will not repair a bike.

Edited May 9, 2013 by BlackArtemis

[BlackArtemis]

Caught MSIG at the end of the day, sent in my info and I will find out tomorrow, but it looks promising. I will keep this updated.

[mania]

Caught MSIG at the end of the day, sent in my info and I will find out tomorrow, but it looks promising. I will keep this updated.

Yeah they were very professional with me on the phone & thru email.

I had bought thru Kawasaki when I bought the bike but wanted my policy after a couple weeks so I called & they

were great. Scanned it & emailed + sent the full policy by mail.

So far so good

Hopefully will never need the policy but they seem competent