When you’re out on the open road and headed into the sunset, be sure you’re covered with motorbike insurance in Australia.
Our guide explains what should be covered by the best motorbike insurance policy and how to pick one that will save you money.
You may also compare policies offered by other insurance companies and request quotations by filling out the form below.
What is the best way to get the best bicycle insurance?
Our guide to insuring your bike and accessories, as well as third-party liability and personal injuries.
Every year, thousands of bicycles are stolen across the country. Regrettably, they’re relatively easy to take and even more difficult to recover.
Bikes can also be deadly, with over 12,000 cyclists being hospitalized each year as a result of collisions. If you are hurt while riding, it can be a costly experience, especially if you have to miss work as a result.
This is where bike insurance might seem useful, but with a big list of exclusions and the possibility that you’re already insured for some situations under your current policy, it’s important to do your research to make sure it’s worth it.
Is it necessary for me to purchase bicycle insurance?
Bicyclists are not required by law to have insurance. However, if you’re thinking about getting a policy, the first thing you should think about is if you’re currently covered by other types of insurance.
Medicare, private health insurance, life insurance, and home and contents insurance, for example, can cover you in a variety of situations, from personal injury to home theft.
Decide what you want coverage for and don’t pay for what you don’t need to prevent over-insuring yourself.
Personal injury and income loss coverage
Personal injury protection is frequently included in the range of bicycle insurance plans available, and some companies even provide it separately. However, it’s important to understand what’s on offer so you don’t over-insure yourself.
If you need to go to the hospital in Australia, you can be treated for free thanks to Medicare. Medicare, on the other hand, will not cover the expense of an ambulance ride, as well as any dental or physiotherapy treatment that may be required as a result of your injuries. If you have private health insurance, some of the expenditures not covered by Medicare may be reimbursed by your provider, depending on your policy.
I have a low-cost bicycle; is insurance worthwhile?
It’s up to you to decide how much risk you’re willing to take. Given the fact that only 10% of stolen motorcycles are ever found, you may feel that insuring your pricey bike is worthwhile.
Calculate how much you’ll pay in insurance over the life of your bike (say, seven to ten years) versus the cost of your new bike to see if it’s worth it.
If your new bike costs $700 and your annual insurance is $150, you’ll likely wind up spending more for insurance than it would cost to replace your bike. In this instance, you could be better off self-insuring’ by setting aside funds in a separate savings account to cover the cost of replacing your bike if it is destroyed or stolen.