Most motorcycle riders love the adventure of the open road in Australia. As fun as motorcycle riding is, it is not without its risks. There are exclusive risks involving motorcycles, and accidents can be very grave. This is why it is very important to have proper coverage against losses and damages caused by physical injuries, property damage, and more through a motorcycle insurance policy. It would be great if you had an insurer who understood the unique risks of motorcycle accidents. To help you achieve this, we have listed and reviewed some of the top 10 best motorcycle insurance companies in Australia currently on the market.
Top 10 best motorcycle insurance in Australia
Below are the top 10 best motorcycle insurance companies in Australia
- Markel
- Allstate
- Safeco
- USAA
- Farmers
- Nationwide
- Dairyland
- Progressive
- Methodology
- Geico
1. Markel
Markel Insurance has something unique that the other insurance companies on this list can’t claim. It’s specialized in motorcycle insurance for more than 40 years. Established in 1980, the company has its headquarters in Glen Allen, Virginia.
2. Allstate
Allstate has some unique features to its motorcycle insurance that are boundless for young riders. Allstate’s First-Accident Waiver pardons the first motorcycle accident without increasing your insurance premium. The Allstate Rider Protection Project is a protection training program offering educational resources for motorcycle riders.
Coverage options include:
- Medical payments
- Personal injury coverage
- Collision
- Comprehensive
- Uninsured/under-insured motorist
- Off-road vehicle transport and trailer damage insurance
- Property damage/bodily injury liability
3. Safeco
Safeco is one of the top affordable insurance companies because you can save with discounts for being claim-free for 1 year, completing a motorcycle safety course, and bundling with other Safeco coverage. The company will insure motorcycles, like mopeds, scooters, sport bikes, cruisers, dirt bikes, and touring. One thing unique about Safeco is its full-reimbursement options. The insurer has options to compensate you for the total replacement value of a Harley-Davidson motorcycle and safety apparel lost in a collision. The insurer will also cover original equipment manufacturer (OEM) parts.
Coverage options include:
- Bodily injury liability
- Collision
- Medical cost
- Original equipment manufacturer (OEM) parts.
- Roadside assistance
4. USAA
USAA is on the top list for motorcycle insurance for military members. This is hardly amazing since USAA also made the best-of list for car insurance for seniors, and it’s also a frequent winner for categories involving military members or their relatives.
Motorcycle insurance is accessible to U.S. military members, including reserve, the National Guard, veterans, pre-commissioned officers, and their partners and kids.
USAA provides many discounts for its customers who buy a motorcycle insurance policy. Some discounts are a multi-vehicle discount, a defensive driving course, and a good driver discount.
Coverages offered include:
- Liability for bodily injury and property damage
- Comprehensive
- Collision
- Uninsured and under-insured motorists
- Medical expenses
- Roadside assistance
5. Farmers
Farmers Insurance is one of the best options for motorcycle insurance for those who want to bundle. You can save if you bundle your motorcycle, auto, property, and life insurance with the same company.
Adding motorcycle insurance to your existing policies makes sense if Farmers already insure you. The company provides a multi-policy discount, and you can also get a discount for an approved safety course, airbags, and anti-lock brakes. There is a preferred operator discount.
Coverage options include:
- Liability for property damage/bodily injury
- Collision
- Comprehensive
- Medical expenses
- Safety apparel coverage
- Trailer transport coverage up to $7,500
- Towing and roadside assistance
6. Nationwide
Nationwide Insurance has some great policy features for motorcycle riders with a safe driving record, including its vanishing deductible option that decreases your policy deductible by $100 up to $500 for each policy year you have no claims. The vanishing deductible option is not unique to Nationwide, but the $100 deduction is more than some other insurers that provide a vanishing deductible option.
Discounts include:
- Multi-plan
- Multi-vehicle
- Motorcycle safety course
- Paid-in-full, riding association
- Theft-recovery device
- Anti-lock brake discounts
- An OEM endorsement is available
Coverage options include:
- Property damage and bodily injury liability
- Collision
- Comprehensive
- Uninsured/under-insured motorist
- Roadside assistance
- Medical payments.
Read Also: life-insurance-companies-in-australia
Conclusion
As much as you love riding your motorcycle, it is advisable to insure yourself and your motorcycle from damage and theft, knowing that the future is unpredictable. Anything can happen at any time, But having your life and motorcycle insured or covered with the right policy will give you peace of mind whenever you are riding. This article will go a long way toward educating you on the top 10 best motorcycle insurance companies in Australia and what they can offer. It will help you make a wise choice of insurance.