Insurance - Dirt Bike
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Whilst we all ride different bikes, one thing that is common is insurance (for those that insure)

 

Looking at a recent thread on insurance (see below), it appears that there are a variety of different insurers out there providing punters with an variety of different customer experiences

 

http://www.dirtriderz.com/topic/10438-insurance-woes/?hl=insurance

 

With some 3,300 members there would be considerable buying power to buy the insurance at wholesale rather than retail rates. You could also use this leverage to ensure that in the event of a claim, you are talking with a bigger voice rather than being treated as a single call centre caller through 1800 hold music.

 

The pros

- Cheaper insurance

- You can stipulate pro-forma policy coverage to ensure terms are not ambiguous or overly insurance company friendly. And suitable to most peoples needs

- Catalyst to increase dirtriderz membership - to access the cheap insurance - assuming this is desirable

- Leverage to ensure that you get the right claim outcome and experience

- Could be a pro or a con, but you inherit the claims history of the class you are buying insurance in - high claims, means premiums are higher - the lower claims will lead to lower premiums. The leverage you have is only as good as your claims history

- Could be a pro or a con, but it takes the forum down the path of 'not for profit' type business enterprise which may require a different level of systems, process and intent to manage. Members, Admin staff and moderators maybe content with the status quo - which there is clearly nothing wrong with this, given the success of the forum, as is.

 

The cons

- Will require some admin to seek expressions of interest within dirtriderz and tender to insurers/underwriters

- Will require some commitment to ultimately migrate to the group policy, as legacy policies mature (assuming its price competitive)

- May require central keeping of personal records (correct name, address, bike details etc) at Dirtriderz to administer (right now, you can create a log in with just an forum name and email address)

 

Before the obvious is asked, I don't sell insurance or represent anyone in the insurance game. I know a reasonable amount about insurance through managing, amongst other things, my employers Group insurance policies

 

Any thoughts?

 

Cheers

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Well written.

 

Guess who is going to be doing the hard yards in trying to find a 'Good' Insurer.

 

This is a bit like the community down the mornington peninsula that were talking with electricity companies to get a cheaper rate. Yes it worked too.

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I'm happy to assist, given it was my suggestion.

 

In terms of which insurer, that's easy. In truth there are only a handful of insurance underwriters out there - don't be fooled by use of mutli-branding in the sector. Its all smoke and mirrors.

 

I would start with a member expression of interest, define what is a "good policy" and market soundings with underwriters to determine the potential savings opportunity. We should be able to quantify potential savings impacts from an individuals current base. Start small to confirm the savings and scale up, if its justified.

 

If the 'soundings' don't generate sufficient savings to be attractive, then we don't waste our time and ride motorbikes instead :)

 

On a more philosophical basis, If this were a business, i'd build the platform first, then sell the service. In a 'not for profit' context, you sell the service first and then build the platform. What this means is that (a) the forum staff/members need to be comfortable that this is a direction they want to go, long term and individual members need to be willing to participate by sharing information and/or time to test the thesis and set up structures to run the program longer term. Without support it will fail....regardless of the perceived savings

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YMI (yamaha) is that cheap at the moment if it gets too much publicity the bean counters at the company may catch on and stop it. It also seams like alot of work to save (assuming at best) 10% or about 75c per week.

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YMI (yamaha) is that cheap at the moment if it gets too much publicity the bean counters at the company may catch on and stop it. It also seams like alot of work to save (assuming at best) 10% or about 75c per week.

I would be more aspirational than 10%

I insure my car through wholesale markets. The difference is 50% v retail markets (eg aami, racv etc etc)

 

On a like for like basis - this is worth about $200 pa to you (based on your 75c).

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Any extra money in my pocket is always a bonus 

 

I would be interested in this plus if they show reasonable discounts for multiply bikes on a single policies  :)

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I just revisited my policy as the numbers didn't seem right. I got it at 50% of what I thought I did.

Good luck with it. Less money for insurance is more for bling.

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