Classic bike insurance in Oz?

Hi there all,

Just a quick one, as I'm sure at least one or two of you guys will have done some legwork on this in the recent past. I've got a '75 Norton Interstate that has just been rego'd over here in Oz, and I'm wondering about insurance options. I'm in Brisbane now, and kinda paranoid it'd get nicked given half a chance.

It's not a pristine restoration yet, but need to get a few kms on the rebuilt engine and box and see what issues crop up over a thousand km's or so, after the best part of 10 years sitting unused, so value wise, I'd be guessing 12K-ish (matching engine+frame, 12,000kms, and only really needs a paintjob).

Any of you guys have any recommendations? The SD is with QBE, who looked after me when it's predecessor got stolen, so I'm leaning that way, but wondering if there's any classic bike options that are worth investigating?

Cheers,
Sean

I recently tried to bundle all of my bikes with Shannons but KTM seem not to be one of their favourites.
With Swann I am only paying $1200 for the 1290, Tiger and the 851. The MHR is with QBE.
The older bikes did seem to fair better though.
One issue that you might come up with Sean is the fact that a lot of companies will not insure older bikes, so you might not have much choice than to use someone like Shannons.

cheers guys, I'll make a few calls and see what I come up with. And I definitely take your point ktmguy in that it isn't replaceable, so some kind of tracking is definitely an option, and locking it up goes without saying. Both of which probably add up to less than the premium anyhow. I'd rather retrieve it damaged and repair than get an agreed value for it.

Trouble is, there's not many places on an interstate to hide a tracking system. Maybe inside that bloody great tank...

Righto, got a quote from QBE, $400/yr. This is based on market value, which is a long way above the red book value (which seems to be entirely depreciation based?), so would be individually assessed in the event of a claim. This makes me nervous, as I'd much prefer an agreed value (I've been screwed by insurers before on this), for which I'll have to complete the paintjob, move her onto the grass so the oil stain doesn't show, and send a couple of photos to them. I'll go that route I think, as $400 isn't terrible for a 12K bike, but pretty terrible going by the red book value ($2,465!!).

In the meantime, I've grabbed a couple of gps trackers off ebay ($37 the pair, shipped!), which are pretty bloody small (64 x 46 x 17 mm), and I'll find a spot to hide them and get power to+from it. Being as they were cheap, I've got one for the SD as well.

I currently have 2 cars & 2 bikes insured with Shannons also, discounts increase with more insured vehicles with each company usually, it pays to shop around & see exactly what they are going to cover, from memory I think Shannons cover about $1000-$2000 in riding gear on top of the agreed value too so that is a bonus, just got to look at all the details including excess cost & exactly what they cover if you are at fault or in different circumstances

If you shop around you can actually negotiate the agreed value & see what they come up with? depends if they want your business or not?
My 2015 1290 Superduke has an agreed value of $26000 + 3 year new for old replacement too I think? shop around & play them off each others quotes

Cheers for the hint. I do that with my car and home insurance pretty much every time it comes up for renewal. For some reason, insurers think you won't notice when they bump up the premiums one year into them! So definitely can't hurt to do the same for the bike, as at the end of the process, it's the same product you're getting.

In the meantime, while taking a browse through locking options (I use a solid ABUS alarmed disk lock on the SD, but the Norton has solid disks, so unless I want to go all boy racer and have them drilled, that's not an option), and playing with the Norton, it looks like a chain and lock through the front wheel around the frame in front of the engine is the best bet. Can't see a way to get the chain around anywhere useful near the rear wheel.

Then, looking at chain options, was starting to feel comfortable with the New York Fahgeddaboudit option (or similar), having seen repeated marketing, until I saw the following vid...(skip to the 6:30 minute mark)




Now feeling decidedly less comfortable...

So I wonder if the insurance companies will give a discount if you have a gps tracker fitted?
I know "insurance company" and "discount" should not be in the same sentence

QBE didn't last time I asked.

So, quick update. Got a quote from Shannons for $148/yr which I've gone with (for an agreed value of 12K, covering weekly usage). Since that was great, I got them to quote on the SD, and you're dead right scamb66, $1860/yr! So that'll be staying with QBE!

cheers for the advice guys