89% increase in insurance in austustralia nsw
#1
89% increase in insurance in austustralia nsw
well that time of the year for rego to be paid on my klx.
last year $100 for rego
and $200 for insurance
so 300 all up
will this year it was $467 for insurance alone plus 100
how the F does a 250 cost as much to insure as a gsxr 600 or xr 650.
the main reason for this as they redefined the classification of engine size.
Until 30 June 2010 three classifications apply:
i) Under 100cc
ii) 101cc to 300cc
iii) Over 300cc
From 1 July 2010, five new classifications will apply:
i) Under 225cc
ii) 226cc to 725cc
iii) 726cc to 1,125cc
iv) 1,126cc to 1,325cc
v) Over 1,325cc
i love spending extra money on the exact same thing
http://www.greenslips.com.au/news/1-...-a-losers.html
last year $100 for rego
and $200 for insurance
so 300 all up
will this year it was $467 for insurance alone plus 100
how the F does a 250 cost as much to insure as a gsxr 600 or xr 650.
the main reason for this as they redefined the classification of engine size.
Until 30 June 2010 three classifications apply:
i) Under 100cc
ii) 101cc to 300cc
iii) Over 300cc
From 1 July 2010, five new classifications will apply:
i) Under 225cc
ii) 226cc to 725cc
iii) 726cc to 1,125cc
iv) 1,126cc to 1,325cc
v) Over 1,325cc
i love spending extra money on the exact same thing
http://www.greenslips.com.au/news/1-...-a-losers.html
#4
What a clever way to increase revenues for the insurance companies. I don't know what the system in Australia is, but in the U.S., auto and most other types of insurance other than health are covered state-to-state by insurance boards who set things like this. In my state these boards are not rubber stamp representatives for the companies. They are actually representative for the consumer to oversee price gouging, failure to cover when required by a given company, and premium payment levels. If I got a message like that from my motorcycle insurance company, I'd first notify the state board. If the state board said they authorized the new engine size category, I'd notify my state representative in the legislature. The legislature appoints these boards in many cases for consumer protection. The AMA would probably also be interested.
In the case of changing the 250 category, I think it's pretty clear what the motive is, and it flies in the face of licensing and insurance regs to allow riders to get into the proper size of bike for both safety, economy, and even evironmental reasons. Manufacturers can't just snap their fingers and change their 250 lineups to try to accomodate this change...obviously. The 250 size is internationally recognized for these reasons, and for some insurance companies to arbitrarily change that for what appears to be motivated by profit is a shame if not criminal. There should be a ground swell of backlash from citizens, motorcycle manufacturers, consumer agencies, and many others. Good grief, even the lowly, anemic, Honda XR230L wouldn't qualify under this stupid and arbitrary classification. Plus, was there any warning of this recategorization coming down the pipe? Think about it...even manufacturers and consumers should by law have the opportunity to react, fight, or conform to the new reg with some time element provided. It would be like vehicle owners buying a new electric or hybrid vehicle and then being told without warning that a 50% tax will be levied against those owners. One might argue that government and free enterprise insurance companies don't function the same...and that's basically true...but...in most free countries, insurance companies cannot just arbitrarily raise fees, change protection levels, or refuse coverage without following guidelines allowed by government and/or insurance boards. fgk, you need to find out who allowed this, if they allowed this, and if there is a process to investigate it...unless you just like bending over without a fight.
In the case of changing the 250 category, I think it's pretty clear what the motive is, and it flies in the face of licensing and insurance regs to allow riders to get into the proper size of bike for both safety, economy, and even evironmental reasons. Manufacturers can't just snap their fingers and change their 250 lineups to try to accomodate this change...obviously. The 250 size is internationally recognized for these reasons, and for some insurance companies to arbitrarily change that for what appears to be motivated by profit is a shame if not criminal. There should be a ground swell of backlash from citizens, motorcycle manufacturers, consumer agencies, and many others. Good grief, even the lowly, anemic, Honda XR230L wouldn't qualify under this stupid and arbitrary classification. Plus, was there any warning of this recategorization coming down the pipe? Think about it...even manufacturers and consumers should by law have the opportunity to react, fight, or conform to the new reg with some time element provided. It would be like vehicle owners buying a new electric or hybrid vehicle and then being told without warning that a 50% tax will be levied against those owners. One might argue that government and free enterprise insurance companies don't function the same...and that's basically true...but...in most free countries, insurance companies cannot just arbitrarily raise fees, change protection levels, or refuse coverage without following guidelines allowed by government and/or insurance boards. fgk, you need to find out who allowed this, if they allowed this, and if there is a process to investigate it...unless you just like bending over without a fight.
#5
In some ways, you have the best deal in the States. Free market approach, and a huge population means strong competition.
In countries like Canada, the small population means far less competition, and the strong left wing society wants very generous coverage. Both mean high premiums.
I have a pretty good deal at $350/yr with full coverage. IMO, it's 150% too much Registration here is $35/yr.
In countries like Canada, the small population means far less competition, and the strong left wing society wants very generous coverage. Both mean high premiums.
I have a pretty good deal at $350/yr with full coverage. IMO, it's 150% too much Registration here is $35/yr.
#6
That category two has a huge spread - 226 to 725. That means a stock KLX is the same to insure as a 600cc repli-racer? I think here in California, the type of bike (sport, cruiser) is factored in with the displacement.
My insurance is $150/yr, the bike is nowhere near stock, and there are no annual inspections. Cars are very heavily regulated in California, but once you take a bike off the dealers floor, you can get away with almost anything.
My insurance is $150/yr, the bike is nowhere near stock, and there are no annual inspections. Cars are very heavily regulated in California, but once you take a bike off the dealers floor, you can get away with almost anything.
#7
Lets clarify something. The insurance he speaks of is a mandatory cover that only covers third parties in the event you involve them in an accident. (Good idea.) Private motor vehicle insurance is voluntary. The mandatory cover is in 2 parts, one insurance and one registration (to cover admin, road infrastructure etc.)
Looks like WA has a little more than great weather and a cruzey lifestyle going for it FGK.
Westralia lets me pay...
12 Months Licence and third party insurance.....
Licence fee $39.95
insurance $126.32
GST (****'s) $12.63
Stamp duty on insurance $13.85
Recording fee (WTF) $13.05
TOTAL $205.80
Happy with the price but with all the GST and other crap it could be less.
Looks like WA has a little more than great weather and a cruzey lifestyle going for it FGK.
Westralia lets me pay...
12 Months Licence and third party insurance.....
Licence fee $39.95
insurance $126.32
GST (****'s) $12.63
Stamp duty on insurance $13.85
Recording fee (WTF) $13.05
TOTAL $205.80
Happy with the price but with all the GST and other crap it could be less.
#8
That's interesting, WOK. Your license plate and liability insurance is almost exactly what mine in Texas is on a KLX250. Our state requires liability insurance, and that's all I have on my used KLX with no lien or loan against it. My KLR650 liability insurance with the same company was about $50 more a year because of engine size alone. A Ninja 4-cylinder 650 would have been even higher. But just going to a 250 saved me $50, so not too bad.
#10
No insurance required? While I don't think any state should require citizens to purchase full coverage insurance, there are too many irresponsible idiots out there to not require at least a basic liability policy.