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Comparing motorcycle insurance
To help you compare motorcycle insurance, our insurance team did an analysis of some of Australia's most popular motorbike insurance policies. We analysed the comprehensiveness of each policy, from the basics to roadside assistance, riding gear cover and more.
Remember, what's best for you will differ from person to person so it's always best to do your research.
Why you can trust our research
15
motorcycle policies analysed
300
features analysed
10+
hours of research
Compare motorcycle insurance
1 - 6 of 44
Cheapest motorcycle insurers
The cost of motorcycle insurance varies between providers and your cost will depend on your personal circumstances, the below should be used as a guide only.
Providers
Annual Cost
$681.95
$804.37
$1,005.71
$1,088.96
$1,583.00
*Quotes were sourced on the following profile:
35 years old, 5+ years licensed
Male
No finance
Private use of motorcycle
Adjusted excess to $500 where possible
Motorcycle is parked in a locked garage
Exclude drivers under 25
No additional driver
Start date of policy 31 July 2023
No discounts, no memberships, no add-ons
Drives 4,000–8,000km per year
Located in Sydney NSW, 2000
2021 Yamaha MT-09A MY20 Sports
Your cost will differ depending on your circumstances. Some things that can affect the cost of your quote include your gender, the type of motorcycle you drive, the colour of the motorcycle, how long you have been driving and the amount of cover you need. Be sure to read the PDS to find cover that suits you.
What are the main types of motorcycle insurance?
Compulsory third party (CTP)
CTP cover is a legal requirement – you must have it to register your motorcycle in Australia. It protects riders for personal injuries caused by your motorbike after an at-fault accident and compensates those who are injured.
It won't cover you for repair costs for your motorcycle or other peoples' vehicles or property.
Third party property
The most basic optional insurance. Third party cover offers a bit more peace of mind as it covers the cost of damages caused by your motorcycle to others' property. It'll also pay your legal costs if you get sued for any damages you've caused.
However, third party property won't cover costs for the repair or replacement of your own motorcycle.
Third party, fire and theft
In addition to the cover offered by third party property damage, it'll also cover any damages to your bike from fire or theft.
This type of cover doesn't include the cost of repairs to your bike if it's involved in a traffic accident.
Comprehensive
The highest level of cover available. Comprehensive insurance will cover most accidental damage, whether or not you're at-fault, plus natural disasters such as storms, floods, hail and even earthquakes. It also covers you for theft, vandalism, third party property damage and damage caused by uninsured drivers.
Comprehensive cover can replace your motorbike if it's written off within a set time period after being registered. It can also cover you for accidents if the rider of the bike isn't a nominated driver.
What does motorcycle insurance cover?
Here's what is typically covered by the 3 key types of motorcycle insurance:
Comprehensive motorcycle insurance is usually the most expensive type of policy but it's the only one that will cover you for damage to your own bike. If you aren't concerned about damage to your own bike, or you could afford repairs, then third party insurance could be enough.
Finder research found QBE and Budget Direct to be very competitive for price. But, it's also important to think about the features that'll bring you peace of mind. For example, not all insurers offer the option of agreed value insurance. Essentially, agreed value cover lets you lock in (or, 'agree') the payout you get if your bike is stolen or written off. Also, some providers offer roadside assistance as standard; others don't. That's why it's so important to compare your options carefully.
Here are some features that you can get with a motorcycle insurance policy:
Helmet and riding gear cover
Your riding leathers, helmet and other gear can be expensive. A lot of policies can cover theft or damage of helmets and riding gear.
Choice of repairer
If you have a preferred mechanic you want to use, you'll often need to pay a little extra for your own choice of repairer.
Agreed or market value.
If market value isn't a fair reflection of your bike's true worth, for example if you need insurance for a modified motorcycle, you might want to look for policies that offer agreed value as an option.
New replacement
If a relatively new motorcycle is written off following an insured event, you might be able to get a brand new equivalent replacement. There's usually a time limit of 2 years for this feature.
Keys and locks
This provides cover for the cost of re-keying or re-coding locks if your keys are stolen, often up to around $1,000.
How are my motorcycle insurance premiums calculated?
Your motorcycle insurance premiums are typically based on the following factors.
Your claims history. If you've made a claim on your motorcycle insurance in the past, insurers will classify you as posing an increased likelihood of making a future claim. This will drive your premiums up. On the flip-side, a no claim bonus can help lower the cost of cover significantly.
Who rides your bike. If you're an experienced rider with an unblemished claims history, and you're the only person riding your bike, the cost of your cover will be lower.
Where you live. If you live in a high crime area the likelihood of your bike being stolen increases. This will be reflected in the cost of your motorbike insurance premiums, as will whether or not you keep your bike safely garaged overnight.
The security systems installed on your bike. Bikes with alarm systems or immobilisers are less likely to be stolen, which means you can save on your motorcycle insurance premiums.
The kind of bike you ride. If your bike is expensive and/or high powered, expect it to cost more to insure than cheaper, less powerful models.
How much you ride. The fewer kilometres you ride, the lower your motorcycle insurance premiums.
How can I lower the cost of my motorcycle insurance?
To be eligible for lower premiums, you could:
Secure your motorcycle. You'll often get lower premiums if you can keep your bike in a secure lock-up or a garage at night. Also, installing an alarm or immobiliser can also help.
Pay premiums annually. Many insurers will charge less overall for premiums paid annually rather than month-to-month. Comparing motorcycle insurance quotes on a regular basis is also a good idea.
Ride safely. Having fewer claims will mean you are in a better position for cheaper motorcycle insurance. Those with motorcycle qualifications may also be able to score savings.
Look for discounts. You may be entitled to a range of savings, such as loyalty bonuses or discounts for buying your policy online, multi-policy discounts and more.
We sourced quotes from 5 different providers and found QBE to be the cheapest. Remember, your driver profile may differ to the one we used and the best way to find a cheaper policy is to compare many options.
Yes, you can insure classic and vintage motorcycles. You might need a specialist vintage motorcycle policy that's tailored to how much you use the bike.
It depends. As a young or inexperienced driver, you will have to pay more for your premiums. However, there are some ways to save. Choose a bike with a less powerful engine. Larger and more powerful engines are more expensive to insure.
If you keep your bike in a garage and have good security measures in place, the insurer will typically charge you less. This is because it reduces the likelihood of your bike getting damaged. If you can, try to avoid accidents to build up a no-claim history.
Most policies won't cover puncture or wheel damage. But by taking out roadside assistance, you can get covered for towing and flat tyres.
You will usually have to pay an excess when you make a claim. While a standard excess applies, a range of other excesses may apply depending on your motorbike insurance policy and who is insured.
There are 4 different types of excess that may be available:
Age – If a rider under 25 is riding your bike at the time of an incident.
Inexperienced – If a rider who has had their licence under 1 year is riding your bike at the time of the incident.
Standard – All claims unless specified otherwise.
Voluntary – If you choose voluntary excess reduction. This excess replaces the standard excess.
Yes, most insurers will allow you to add more riders to your policy. Keep in mind this can lead to a higher premium if they're less experienced on the road.
Yes you can, but you'll need to let your insurer how your bike will be used before you can be approved for cover. The insurer will usually ask if you plan to use your bike for business during the application process.
Most providers will not cover you for track days; some will exclude cover for non-race activities like driver training or exhibition laps.
A handful of providers will cover your motorcycle for track day use but the cover available varies greatly. Review our guide to track day insurance for your options.
Pillion cover is sometimes an optional add-on with motorbike insurance. It covers you if you carry passengers on the back of your motorbike. It insures your passengers for any injuries received while you ride.
Gary Hunter is an editor at Finder, specialising in insurance. He’s been writing about life, travel, home, car, pet and health insurance for over 5 years and regularly appears as an insurance expert in publications including The Sydney Morning Herald, news.com.au, The Telegraph, Explore Travel and Escape. Gary holds a Kaplan Tier 1 General Insurance (General Advice) certification and a Kaplan Tier 1 Generic Knowledge certification which meets the requirements of ASIC Regulatory Guide 146 (RG146).
VIC riders have plenty of motorcycle insurance options to fit their riding style and to protect them from theft, property damage, natural disasters and more.
If you're living in the Sunshine State, you're exposed to unique risks that only a Queenslander could understand. Discover how to find the right motorcycle insurance for you in QLD with this handy guide.
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