Motorcycle Design and Distribution Obligations
Motorcycle insurance updates
We’ve been busy making updates to our motorcycle insurance cover to help make things a little clearer for you.
See what's changed
This table is a guide and lists the main changes to the Motorcycle Insurance Product Disclosure Statement (PDS). The information in the table does not replace or vary our PDS so please read the entire PDS for details of features and benefits and to ensure that this product is right for you.
| PDS section | Page # | Update type | Change in the PDS |
|---|---|---|---|
| Important information | 4 - 11 | ||
| Cancelling your policy | 4 | Benefit | Cancellation fee reduced to $22, with clarity on when this will apply. |
| What if I have a complaint? | 5 | Clarification | Updated details regarding our complaints process. |
| Your duty of disclosure / When answering our questions | 6 | Clarification | The Duty of Disclosure has been replaced with the duty of an insured “to take reasonable care not to make a misrepresentation when answering our questions”. |
| Your responsibilities | 6 - 7 | Clarification | Improved transparency with expanded section on the requirement to maintain a valid email address. |
| 7 | Clarification | Responsibility to ‘Maintain the motorcycle in a roadworthy condition’ has been changed to ‘Keep the motorcycle and trailer in a good and safe condition’. | |
| What do these words mean? | 8 - 11 | ||
| Earthquake | 9 | Reduction | Earthquake definition changed, no longer includes landslip. |
| Roadworthy | 10 | Clarification | Updated to clarify compliance with the roadworthy requirements of the state in which a motorcycle or motorcycle trailer is being used. |
| You / your / yours | 11 | Clarification | Removed reference to "rider, employee/s and household member/s or any person acting for the policyholder, business or for a household member". |
| Accessories and modifications | 11 | Clarification | How to include accessories and modifications in the market value or agreed value. |
| About your cover | 11 - 20 | ||
| Theft | 12 | Clarification | Examples provided for what "reasonable precautions" are required when the motorcycle is taken for a test ride. |
| Legal Liability | 12 | Reduction | Legal Liability includes cover for the rider of the insured motorcycle and substitute motorcycle; cover while driving any uninsured motorcycle has been removed. |
| Uninsured Third Party | 13 | Clarification | Clarified information required about a third party. |
| Riding Gear | 14 | Benefit | Increased riding gear cover to $1,000. |
| Temporary Replacement Cover | 14 | Benefit | Previously Immediate Replacement Motorcycle cover; includes cover for when the motorcycle is given away. |
| Counselling Services | 14 | Benefit | Removed 6-month limit to commence counselling. |
| Funeral Expenses | 15 | Benefit | New Extra Cover for Comprehensive policies, includes up to $5,000 for funeral expenses as a result of an accident. |
| Maritime Liability | - | Reduction | No longer available. |
| Hire Car (optional) | 17 | Clarification | Confirmation of running costs that are not covered. |
| 17 | Reduction | Extended exclusion to also exclude hire cars used for paid delivery services. | |
| General exclusions | 18 | Clarification | Exclusion relating to poor or faulty design specifications, material, planning or workmanship, or a defect have been updated to improve transparency. |
| Claiming | 21 - 26 | ||
| Authorised persons on your claim | 21 | Clarification | Updated section describing (1) how to add an authorised person and (2) conflict of interest. |
| How we settle your claim | 22 - 24 | Clarification | Updated section providing clarity on how we settle claims. |
| How we settle your claim – New motorcycle replacement | 24 | Benefit | Removed the 500km limit for when the motorcycle is purchased. |
| 24 | Reduction | For demonstrator motorcycles, the 24-month replacement period now applies from when the dealer first registered the motorcycle, rather than when it was first registered by you or a listed rider. | |
| Excess | 25 | Clarification | Clarification of how and when an excess applies. |
| Actions of others | 26 | Benefit | New section describing circumstances where cover may not be limited by the actions of other people. |