Adelaide’s Most Comprehensive Motorcycle Insurance Policy Available.
Comprehensive motorcycle insurance covers you if your motorcycle is accidentally damaged; whether it is your fault or not, stolen or burnt.
At the insurance companies discretion, they will either:
- repair your motorcycle, or
- pay you the cost of repairing your motorcycle, or
- pay you the ‘Agreed value’ of your motorcycle.
Agreed Value Or Market Value Motorcycle Insurance?
Agreed value is the amount the insurance company will pay you in the event of a ‘total loss’.
Market value is what the insurance company will pay you in the event of a total loss based on what they say the ‘market value’ of your motorcycle is at the time of the loss.
Market value motorcycle insurance is often cheaper because the amount the insurer has to pay out will be less than agreeing to a fixed amount that does not take depreciation into account.
Common Features Of Comprehensive Motorcycle Insurance Cover
The following list of features comprehensive motorcycle insurance covers; commonly referred to as ‘Additional Benefits’, can be read in further detail by reviewing the insurance companies product disclosure statement and insurance policy.
If your motorcycle is accidentally damaged or stolen more than a certain distance from your home and the insurance company agrees to pay your claim, the insurer may pay an amount for emergency repairs necessary to enable you to drive your motorcycle home or to the nearest place of repair.
If your motorcycle is accidentally damaged, stolen or burnt more than a certain distance from your home and the insurance company agrees to pay your claim, they may reimburse you an amount for emergency accommodation, travelling expenses or rental motorcycle expenses paid by you for you and your passengers to return home or to complete your journey.
Faultless no claim bonus
If your motorcycle is involved in an accident, your no claim bonus rating will not be affected if, in the insurance companies opinion, you or any other person using your motorcycle with your permission were not to blame for the accident occurring. You will have to supply the insurance company the name and current address of the person who caused the accident, and the registration numbers of any other vehicles involved in the accident.
New motorcycle replacement
If your motorcycle is a ‘total loss’ and your motorcycle is less than 2 years old, most insurance companies will replace your motorcycle provided that one is locally available. There could be further conditions such as the motorcycle needing to be covered by the policy since first registration as new, or second registration provided it had travelled less than 5,000 kilometres and was less than 6 months old. If your motorcycle has been super seeded by a new model, the insurance company under comprehensive insurance may replace your motorcycle with the new model if it is locally available.
If the insurance company you are insured with agrees to pay your claim after your motorcycle is accidentally damaged, stolen or burnt, the comprehensive insurance policy may cover you for an amount of money to cover the loss of personal items belonging to you or a family member. This generally does not cover mobile phones, helmets, cash or property used to generate income.
If a trailer is accidentally damaged, stolen or burnt while it is attached to your motorcycle, insurance companies may pay for the cost of repair or an amount of money.
Hire motorcycle reimbursement following your motorcycle being stolen
Adelaide insurance companies may reimburse you the cost of hiring a similar motorcycle to your motorcycle if the motorcycle is stolen. There will be limits to the period, and you will have to pay for the fuel and running costs of the hire motorcycle.
Keys and locks
If there is reason to believe that your keys have been stolen, or burnt comprehensive insurance in Adelaide may cover the replacement of the keys and locks.
Towing and clean up costs
If your motorcycle is accidentally damaged, stolen or burnt, the insurance company under a comprehensive insurance policy may pay for the cost of having your motorcycle towed to a repairer and the cost of removing debris from the accident site, or where your motorcycle was burnt.
Some insurance companies will also have some options that are not covered under the policy, but which you can select and pay an additional amount for, such as:
- Helmet Cover
- No claim bonus rating one protection
- Nominated rider
Remember not all insurance companies offer the same additional benefits, so it pays to discuss comprehensive motorcycle insurance Adelaide residents can purchase with your motorcycle insurance broker from Houston Finance, who will help you understand the differences between the insurance company products. Insurance brokers at Houston Finance are fully trained to handle all of your motorcycle insurance questions.