Motorcycle insurance guide...vroom vroom
Motorcycle insurance - the road to top notch cover!
Is it just us, or does the idea of riding down a long road with the wind in your hair just remind you of Top Gun?
Whatever bike you ride whether it be a Harley that takes you away on long weekends or a Vespa to get you around town motorcycle insurance is essential to protect your pride and joy.
Motorcycling certainly comes with its fair share of thrills but there can also be spills as you never know what lies around the corner. The last thing you want to worry about in an accident is insurance, so don’t ride without it.
What are the types of motorbike insurance?
There are three main levels of cover to choose from:
Comprehensive covers you for damage to your own motorcycle as well as damage you may cause to other people’s vehicles or property.
Third party property damage protects you against damage that your motorcycle causes to other people’s vehicles or property. This does not cover you for damage to your own bike or if it was stolen.
CTP green slip covers you against legal liability for personal injury caused to someone else in the event of an accident.
Classic motorbike insurance
There are so many different types of motorbikes on the road, and clearly when it comes to insurance not one size fits all. If you own a Triumph or a Harley Davidson for instance make sure you look into classic insurance.
Moped and scooter insurance
Chic and economical, your scooter is a smart transport choice. Insurance for mopeds and scooters should be cheaper as they don’t have such powerful engines and are involved in less accidents. Make sure you pick an insurer that acknowledges lower premiums for mopeds and scooters.
Do you prefer the environmental option? With its plentiful health benefits and traffic dodging convenience it’s easy to see why Aussies have turned to cycling in droves. Head to our bike insurance comparsion to get quotes today.
What should I get ready for quotes?
- Full details of the make and model of your motorcycle
- The year your motorcycle was made and the registration number
- The value of the motorcycle
- The date you bought your bike
- Details of any modifications
- Details of any claims, convictions or accidents
- Details of any additional riders
- Details of any security devices
Compare motorbike customer reviews
Our site provides you with an easy-to-use customer review comparison to help you find the right insurer. You can get the lowdown on motorbike insurance companies from real customer experiences prior to purchasing your policy. But don’t be too quick to judge. It’s not just the number of positive reviews that makes the motorcycle insurer a good choice but the quality and substantiveness of the comments that count.
Motorbike insurance for young riders
Insurance premiums for young drivers tend to be more expensive as statistics show that young and inexperienced riders are involved in more accidents. So what can you do to reduce premiums? In your first few years of riding it is really important to ridesafely and rack up those no claims discounts. If you do however have an accident it is worthwhile considering whether to claim on your insurance or not.
To claim or not to claim?
If the damage to your bike is quite minor then you might be better paying for the repairs yourself. If you do make a claim you will have to pay the excess, you will lose your no claims discount and your premiums may go up. Take all these things into account before you decide what to do.
If you’re insuring your bike for the first time make sure that you do your research and fully understand the policy’s small print. Always read your insurers Product Disclosure Statement to understand when you will and won’t be covered.
But that’s not all, there are still plenty more ways for you to save on your bike insurance...
Save on your motorbike insurance
Prices are calculated based on several factors. If you’re looking for cheap cover there are many ways that you can reduce the cost of your premiums:
- Make and model: The type of bike you ride will affect how much you pay on your insurance. If your motorbike is very expensive or a particularly fast model, your premiums are likely to be higher. If you want to save mone then consider the type you buy.
- Safe driving and no claims: The longer you drive without making a claim, the lower your premiums will get. So drive safely out there.
- The age of all riders: The rider’s age makes a big difference to the cost of bike insurance premiums. If you are under 25 you will most likely have to pay more.
- Modifications and accessories added to the motorcycle: Modifications can be good and bad in terms of insurance premiums. If you modify your bike to make it safer or harder to steal then your premiums will go down. If you modify your bike to go faster, they are likely to go up! If low insurance costs is your priority then stick to a standard model where parts are easily replaceable.
- Don’t overestimate your kilometres: You pay less if you drive less, so don’t overestimate your ride time. Many bikers don't use their motorbike as their main form of transport. If you estimate based on your car mileage you could end up paying too much.
- Secure your motorbike: Bikes are easy targets, do your best to keep your bike in a safe location when you are not using it. The safer the place, the cheaper your premiums will be. Also it’s a good idea to fit your bike with an alarm and make sure it is padlocked.
- Excess: Excess is the first amount of money you have to pay when you make a claim. By increasing your excess you are able to decrease your monthly premiums. But remember that you will have to pay this amount in the event of a claim.
- Types of cover: There are 3 main types of cover. The costs will vary between the level that you chose, but generally the third party polices will be cheaper than fully comprehensive policies.
- Me, myself and I: If you’re a lone rider, this will be much cheaper than insurance for passengers. But make sure if you do intend to take a passenger with you, even for a quick 5 minute ride, that you do have the adequate insurance at that time.
You can’t predict what‘s around the corner, so make sure motorbike insurance an essential piece of your kit.
Once you are insured …the open road awaits you people!