Whether you ride every day or just for leisure, you'll want peace of mind when it comes to protecting your motorbike.
But just how much motorcycle insurance do you need, and what does it cover you for? We've got the answers to your most frequently asked questions about motorcycle insurance.
1. Is motorcycle insurance compulsory?
There is some level of mandatory motor insurance required by law, which goes by various names depending on the state or territory: Compulsory Third Party Insurance, Green Slip, Transport Accident Charge.
No matter what it's called, it is illegal to drive without this mandatory insurance in Australia, which must be taken out at the time that you register your car. In some states/territories, this insurance type is included as part of your car registration fee.
It's important to know that this mandatory motor insurance only protects a person you may injure while driving a vehicle and does not offer and protection for damage to your vehicle or any other property. Therefore, it's strongly advised that you take out additional motorcycle insurance on top of the mandatory cover.
2. Should I cancel my motorcycle insurance in winter?
You may not choose to ride your bike at all in the cold winter months, but that doesn't mean you don't need protection. Whether you keep your bike in storage or at home, you'll still need protection from things like fire, theft and damage - not to mention an impulse ride or two.
3. What are my motorcycle insurance options?
You have several options when it comes to motorcycle insurance. Choose the level that suits you best:
Comprehensive Motorcycle Insurance
This covers you for damage to your motorcycle, and damage that your motorcycle causes to someone else's property. At Youi, you're also covered for a range of insured events including fire, theft, earthquakes, storms and floods. We also offer free 24/7 roadside assistance with our Comprehensive motorcycle insurance, and up to $1000 worth of your, or your pillion's, riding gear if its damaged as the result of an insured event.
Third Party Fire and Theft motorcycle insurance protects you for damages that your motorcycle causes, as well as damage caused by fire and theft. At Youi, we also throw in emergency accommodation, towing costs, repairs and storage if your motorcycle is damaged in an insured event.
Third Party Property Only Motorcycle Insurance
This is an entry level cover that foots the bill for damage your motorcycle causes to someone else's property. Youi Third Party Property Only motorcycle insurance also provides up to $5,000 for damage to your motorcycle caused by an uninsured driver.
4. Is my motorcycle trailer covered by motorcycle insurance?
At Youi, we have an optional cover that you can add, which provides up to $5,000 of cover for your registered motorcycle trailer.
5. How can I reduce my motorcycle insurance premium?
Each insurer calculates premiums differently, but here at Youi, we offer up to a 23% discount if you've owned your motorcycle for over a year. We also reward you for parking securely, driving safely, and heaps more behaviours. To find out how much you could save on your motorcycle insurance, start a quote with us today.