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Discussion Starter · #1 ·
Hi all,

I'm from India and trying to understand how the insurance premium works in other countries.
Below is a sample split up of the price. In this the insurance is comparatively less which is for the bike and rider. How does it work in US and other countries? Why is it very high in there?

Ex-show Room Price ₹ 3,30,778
Insurance ₹ 6,913 (around 104 us dollars for one year)
Road Tax ₹ 19,847 (15 years tax collected for new vehicles)
Other Charges ₹ 12,570
On Road Price ₹ 3,70,108
 

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I pay $432.00 USD per year, but I have high limits for liability same as my car.
 

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Discussion Starter · #3 ·
I pay $432.00 USD per year, but I have high limits for liability same as my car.
Wow, this is too much money for insurance when compared to here for a 300cc bike. Almost premium sedan car insurance money. Is your insurance calculated upon the risks conditions in US?
 

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Well, Insurance tends to vary quite a bit. Anything from where you live, to your age, prior driving(car) or riding(motorcycle) history, how long your average riding season is, and how comprehensive your insurance plan is. Here in the US at least, there's also many insurance companies, all giving different rates for different reasons.
Here, you don't get insurance at the dealer. You have to get it on your own and show the dealer you have it in order to take the bike home. It's a separate but required product that seems to have very little consistency.
 

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My insurance just went up by $12 a month because I guess this bike is being seen as more risky than when I fight got it from people crashing and making insurance claims. That's a 30% increase!! I'm about to drop collusion on this bike since it has gone up I feel stupid paying about $450 for a 300cc bike. I currently have 100/300/50 w/ $250 deductible. collision, uninsured motorist, towing all that jazz
 

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In oz it goes by Age or rider, years of licence, years without claims, parking, and postcode.


ie a young new rider in a city (where more thefts and incidents take place) could pay $2000 per year
vs an older rider in a rural area, and vehicle parked in a lock up garage.


thus I only pay $222Au full comprehensive low excess of $400, riding gear covered as well.


Swann is one of the major bike insurers-
https://www.swanninsurance.com.au/home/


Mines a track bike but I keep it road licensed so I can keep it insured, its easier.
 

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Approx US$743 a year for the 20 year old boy from Singapore :lol:. Supposed to have a 10% No-Claim Discount for having no insurance claim from my past 1 year of riding but because I was not the main owner of the previous vehicle so I wasn't entitled to that 10%
 

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Discussion Starter · #9 ·
Approx US$743 a year for the 20 year old boy from Singapore :lol:. Supposed to have a 10% No-Claim Discount for having no insurance claim from my past 1 year of riding but because I was not the main owner of the previous vehicle so I wasn't entitled to that 10%
This is more than the insurance rate of brand new R1 in India for one year.
 

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Discussion Starter · #10 ·
In oz it goes by Age or rider, years of licence, years without claims, parking, and postcode.


ie a young new rider in a city (where more thefts and incidents take place) could pay $2000 per year
vs an older rider in a rural area, and vehicle parked in a lock up garage.


thus I only pay $222Au full comprehensive low excess of $400, riding gear covered as well.


Swann is one of the major bike insurers-
https://www.swanninsurance.com.au/home/


Mines a track bike but I keep it road licensed so I can keep it insured, its easier.
These sound ridiculous at least from my perspective coming from a country where there is no distinction in age/location etc doesn't matter for getting insurance. Only the rate differs slightly from one company to another(reliability is another factor). in fact the insurance is another paper which the dealer will give for first time unless you opt out for a different one.
Maybe this is another reason why bikes are so less in other countries where it doesn't make any sense to put a load of money on two wheels just for insurance.
 

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Discussion Starter · #11 ·
Well, Insurance tends to vary quite a bit. Anything from where you live, to your age, prior driving(car) or riding(motorcycle) history, how long your average riding season is, and how comprehensive your insurance plan is. Here in the US at least, there's also many insurance companies, all giving different rates for different reasons.
Here, you don't get insurance at the dealer. You have to get it on your own and show the dealer you have it in order to take the bike home. It's a separate but required product that seems to have very little consistency.
Thanks for explaining, these seems like several sitting down sessions with the insurance companies to get your desired insurance.

here we get the insurance along with the bike when buying for the first time, then only bike is allowed to be ridden on road. Second year onwards the user has to update the insurance although the current company and competitions will call you and remind of getting insurance.
 

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These sound ridiculous at least from my perspective coming from a country where there is no distinction in age/location etc doesn't matter for getting insurance. Only the rate differs slightly from one company to another(reliability is another factor). in fact the insurance is another paper which the dealer will give for first time unless you opt out for a different one.
Maybe this is another reason why bikes are so less in other countries where it doesn't make any sense to put a load of money on two wheels just for insurance.
Sounds high, but we wont get out of bed for less than $20 per hour minimum wage
Average salary nationally is $79,767
And an R3 costs less in Australia than even the USA once you factor On road costs.


Impossible to compare apples with oranges (especially with insurance),
as so many other things come into play like std of living, cost of housing, goods, food, services, health care, road safety, infrastructure, political stability locality etc etc etc.
Countries like Canada, Australia, New Zealand might sound expensive, but they always rate the worlds most livable places.
we're not as poor as most like to whinge we are haha.
 

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Discussion Starter · #13 · (Edited)
My insurance just went up by $12 a month because I guess this bike is being seen as more risky than when I fight got it from people crashing and making insurance claims. That's a 30% increase!! I'm about to drop collusion on this bike since it has gone up I feel stupid paying about $450 for a 300cc bike. I currently have 100/300/50 w/ $250 deductible. collision, uninsured motorist, towing all that jazz
Do you have the No claim bonus or something when you haven't claimed any insurance this year, your insurance premium which you have to pay will be marginally lesser next year.

Many here, they will fix scratches and minor things from their pocket from third party repair centers or leave it like that(like my car has scratches) instead of claiming it in dealership where you still have to pay some amount (service charge,labour etc) if you claim insurance repair.
 

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Discussion Starter · #14 ·
thus I only pay $222Au full comprehensive low excess of $400, riding gear covered as well.
Good to know that riding gear is covered under insurance, I'm hearing for the first time such a thing.

Here there is no concept of wearing riding gear unless you are a well informed guy who knows the risk of riding motorcycle on public roads. I make it a point to wear helmet all the time + jackets /gloves / shoes when on longer rides other than going to buy milk nearby.

Is it also mandatory to wear all gears all the time in Au?
 

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In arizona:

$97.00/yr liabilty only
$177.00/yr liabilty + theft (I'm 46,clean record and took MSF course)

The Phoenix-metro area has high accident rates, and even higher theft rates. I paid cash for bike so that helps keep rates low, if you finance, the cost to cover the bank's will add $1000/yr to the quotes above..

I have neighbors with 600cc bikes who are under 25yrs old and pay $2000/yr and more:(
 

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Good to know that riding gear is covered under insurance, I'm hearing for the first time such a thing.

Here there is no concept of wearing riding gear unless you are a well informed guy who knows the risk of riding motorcycle on public roads. I make it a point to wear helmet all the time + jackets /gloves / shoes when on longer rides other than going to buy milk nearby.

Is it also mandatory to wear all gears all the time in Au?

Yes helmets are compulsory, the rest varies state to state.


I'd hate to have an injury or involved in 3rd party injury in a country with such low insurance and cover.
Disability injury can run into millions of dollars.
Ive had a major hit and run that left me with some permanent disability and didn't work for 10 years, (or ride a bike) all medical, loss of income, pain and suffering covered, was eventually paid lump sum on top of all the rehabilitation.
^That is part of the annual motor vehicle license.
varies state to state but the same concept.


What happens when your $5000 car/bike hits a $200,000 Mercedes or does other property damage? I don't like to share the roads with the uninsured/underinsured.
 

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Discussion Starter · #18 ·
In arizona:

$97.00/yr liabilty only
$177.00/yr liabilty + theft (I'm 46,clean record and took MSF course)

The Phoenix-metro area has high accident rates, and even higher theft rates. I paid cash for bike so that helps keep rates low, if you finance, the cost to cover the bank's will add $1000/yr to the quotes above..

I have neighbors with 600cc bikes who are under 25yrs old and pay $2000/yr and more:(
Our insurance covers most of the clauses unlike theft separate and don't have much choices other than full body of vehicle's coverage which might also include the plastic parts etc and the normal one where customer has to pay half or more for plastic parts.

Ownership cost seems to be very high in other countries and I guess this is why people tend to service their vehicles by their own to reduce some cost.

Sent from my LG-D802 using Tapatalk
 

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Mines a track bike but I keep it road licensed so I can keep it insured, its easier.
Do you ride it on the street? If it's strictly a track bike surely your insurance does not cover it for on track accidents. No standard road insurance I've come across covers track use.
 

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Do you ride it on the street? If it's strictly a track bike surely your insurance does not cover it for on track accidents. No standard road insurance I've come across covers track use.
No street use,
Its not covered while on track.
(And so it shouldn't be!, i'll quit the day someone says they are, imagine fighting an insurance company for an on track incident in court. Ive never crashed on track, that's not why I have cover.)


Its covered on way TO and FROM events, maintenance, etc when something is most likely to happen to it for those few days and thousands of KM on a trailer away from home, and while home of course.


Fire theft and 3rd party only policies cost the same at my age, different for a new rider.
Track bike insurance is more expensive, and has even less cover, its not worth it.
 
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