Motorcycle insurance for Australian riders
You really can’t beat that feeling of revving your engine and setting off on the open road. But what can make a ride even better is knowing your bike is covered against an accident or theft.
“Motorcycles can be expensive, so it makes sense to have protection in place in case anything happens to it – for example, if it gets damaged or stolen,” says Peter Margin, National Portfolio Specialist at QBE.
So here’s the lowdown on motorbike insurance.
What are the different types of motorcycle insurance?
Most insurers, including QBE,1 offer three levels of cover for registered and roadworthy motorbikes:
- Comprehensive
- Third-party fire and theft
- Third-party only
Comprehensive cover
QBE Motorcycle Insurance can provide cover for:
- Accidental loss of, or damage to your motorbike from incidents such as collision or impact, fire, theft or attempted theft
- Motorcycle apparel (up to $4,000 total per incident for apparel, like your helmet and riding jacket)
- Legal liability of up to $30 million – for when you need to pay for damage to someone else’s vehicle or property caused by your bike
Comprehensive cover under QBE Motorcycle Insurance also includes up to $100 in travel expenses, up to $1,000 for emergency accommodation and transport costs, and a hire vehicle after a not-at-fault bike accident or theft.2
If you’ve been in a collision, you need to know your bike is going to be well looked after. So, if it’s been in an accident covered under QBE’s comprehensive motorcycle insurance policy and needs repairs, we’ll guarantee the quality of workmanship and materials used in repairs authorised by us.3
Third-party fire and theft cover
This cover provides coverage for your motorbike against theft or attempted theft and fire. It also covers you for legal liability of up to $30 million, if you need to pay for damage to someone else’s vehicle or property caused by your bike.4
While third-party fire and theft cover doesn’t cover your motorcycle apparel, travel expenses, emergency accommodation and transport costs, it will provide a hire vehicle for up to 14 days if your bike is stolen.
“Although third-party fire and theft policies give you some protection, a comprehensive policy means you’re better protected, so you can ride safely in that knowledge,” says Margin.
Third-party only cover
Third party insurance provides cover when you need to pay for damage to someone else’s vehicle or property caused by your motorbike.
Do you need compulsory third party (CTP) insurance for bikes in Australia?
Yes, all motorbikes need to have CTP insurance by law.
In Victoria, Western Australia, Northern Territory and Tasmania, CTP is included in your registration fee.
In New South Wales, Queensland, South Australia, and the Australian Capital Territory, you can select your CTP insurer.
QBE offers CTP insurance in New South Wales, South Australia and Queensland.5
Related article: Australian Motorcycle Survey
What can affect the cost of motorcycle insurance?
There are a number of factors that may impact premiums, including:
- The level of cover you’ve chosen
- Information about your bike6
- Claims made, and claims you’ve told us that riders listed on your policy have made on other policies
- Varying the standard excess of comprehensive cover you choose
“The type of motorbike is important, as a high-power sports bike presents a different risk to a lower-powered bike. Also, where it’s kept overnight counts – we can’t insure bikes that are kept on a nature strip or footpath, for example,” says Margin.
What modifications might affect motorcycle insurance?
Many bike owners like to add extras to their bikes, but it’s important they don’t make it unroadworthy – for example, changing the frame or installing a turbocharger. If QBE isn’t notified of these additions, we may reduce or refuse to pay a claim.
“Things like installing a non-standard exhaust or non-standard wheels, modifying the air filter – as long as they are roadworthy, they’d usually be acceptable,” says Margin.
“It’s important to let your insurer know about any modifications and non-standard accessories to ensure you’re covered.”
Generally, accessories that have been added to your bike, such as saddlebags and sissy bars, are covered by your comprehensive motorcycle insurance.7 However, they’d need to be listed on your policy, so contact your insurer.
Related article: 5 of the most popular motorbikes in Australia
The importance of insurance
Motorcycle insurance is a valuable way of protecting your bike should the unexpected happen. By taking the time to ensure you have the most suitable coverage in place, you can hit the road with confidence.
At the heart of it, it’s about enabling you to sit back and enjoy the ride.
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1 Motorcycle Insurance | Motorbike Insurance | QBE AU
2 Motorcycle Insurance | Motorbike Insurance | QBE AU
3 Motorcycle Insurance | Motorbike Insurance | QBE AU
4 Motorcycle Insurance | Motorbike Insurance | QBE AU
5 CTP explained: a state by state guide | QBE AU
6 From interview with QBE spokesperson, Peter Margin, April 2024.
7 From interview with QBE spokesperson, Peter Margin, April 2024.