Motorcycle Insurance In Australia

See also: some unfiled stuff, some Regional Information (Oz&NZ), the blacklist of sportbikes from JEVCO (a Canadian insurance firm), Ed Green's bit on insurance companies' motivations and Steve Moonitz's related bit.

Types of Insurance

• CTP - Compulsory Third Party Insurance
  Insurance for injury you do to others (and possibly your pillion, and with some, possibly yourself) in an accident in which you are at fault.
  This is associated with registration but not part of the fee. You must present a paid-up CTP form (a "green slip") with your rego inspection certificate (the "pink slip") when you go to pay your yearly rego.
  There is more information at the MAA's Greenslips Page.
• Third Party Property
  Insurance for property damage you do to others in an accident in which you are at fault.
  This is not compulsory but is a highly recommended and cheap minimal form of insurance.
• Third Party, Fire and Theft
  More common in the UK than here, this covers you for everything except damage to yourself and your bike in accidents. This can be a good comprimise for the rider of a sportbike (a notoriously high accident risk category) who rides conservatively rather than near the edge.
• Comprehensive
  This covers everything, supposedly, with an excess. Many vehicle loan agreements require it on the vehicle (personal loans tend not to, but you pay more interest). My experience is that 15% of agreed value is common.

Vendors

[ Western QBE | Western UnderWriters | Dawes Underwriting | Shannon's | Swann | Wagland Salter | Zurich ]

• Wstern QBE
  [ Last update 21jun2001. ]
  Perth: 131 303
  Sydney: 131 101
  These guys also have some interesting types of cover, like "Rider only" which is only you and your mechanic.
• Western UnderWriters
  [ Update 21jun2000: I think their bike stuff is now in the hands of Western QBE above. ]
  NSW: 43 Hunter Street, Parramatta NSW 2150
  Ph: (02) 9895 5344
  WA: 4 Bennett St, East Perth WA 6004
  Ph: (09) 429 6333
  WA: 6 Bennett St, East Perth WA 6004
  Ph: 13 1303

  Do comprehensive, third party fire & theft, and third party.

• Dawes Underwriting Pty Ltd
  NSW: 1558 Pacific Highway
  Ph: (02) 9487 4744
• Shannon's Classic Car Insurance
  WA: (09) 257 1269
  NSW: (02) 9958 7666

  Constraints: They do not do Japanese bikes and only do Comprehensive Insurance.

  Tom Cohen <thos@wormald.com.au> writes:

  they don't insure all bikes, but the 'classic' marques, like Triumph, HD, Ducati, and so on they will cover. [...]
  The reasons I use Shannon's - I get multiple vehicle discount (they insure my Cooper as well), I get restricted mileage cover (since I don't ride the Jungle Bike everyday), I have 65% ncb, they insure agreed value, and if the vehicle is written off in an accident, I get to keep the wreck (and probably make an Alchemy).

  Keith Avery <keith@wantree.com.au> writes:

  The Duke club in WA has a discount arrangement with Shannons Insurance.

• Swann, a subsidiary of CGU Insurance.
  [ Update 21jun2001: Swann do not open new policies over the phone, you have to visit an agent (many bike dealerships are agents). ]
  Swann do third party property and comprehensive.
  Sydney: Level 8, 10 Spring Street, Sydney NSW 2000.
  Denniston Avenue, Guildford NSW 2161
  Here is sther contact information.
• Wagland Salter & Associates Pty Ltd - Insurance Brokers
  55 Lavender Street
  Milsons Point NSW 2061
  Phone: (02) 9959 3444
  Constraints: won't issue a policy if you've had your licence suspended in the last two years.
• Zurich Australian Insurance Group
  NSW: 821 Pacific Highway, Chatswood 2067
  Ph: (02) 9911 4991
  NSW: 10 Help Street, Chatswood 2067
  Ph: 13 1164

  Constraints: they don't do TP Property.
  They are generally the best for CTP though.

Random Pricing Surveys

The following is a random set of data points from attempts to insure motorcycles. Pay attention to the dates.

Date/Bike/Rider	Vendor	Quote
21jun2001 1999 Honda CBR1100XX $13500 Male 35yo good record, 60% no claim bonus	Western QBE Swann	$672 ($350 basic excess) $974
15may2001 1999 Aprilia 125SP, agreed value $8000 Male, max no claim bonus	NRMA New England Insurance	$550 (and CTP for $164) $750
05may2001 1991 Kawasaki ZZR1100C1 $6700 Male 35yo good record, 60% no claim bonus	Swann	$236
24apr2001 1985 Yamaha FZ750 Male over 40yo, good record	GIO	$96.75 (third party property)
05dec2000 1985 Yamaha FZ750 Male over 40yo, good record	QBE	$362 (CTP)
02dec1996 1989 Kawasaki GPX600R Male 30yo, good record, various speeding tickets and one 3 month licence suspension a year old	Western Underwriters	$319 (TPF&T - excess for the speeding) $100 (TP Property)
14dec1995 1984 Ducati 900 Male over 30yo good record	Zurich CU QBE GIO Sun AAMI FAI CIC MMI MM NZI AMP NRMA	$370 (CTP) $371 $380 $387 $395 $427 $439 $465 $471 $475 $477 $477 $481