AAMI Motorcycle Insurance

Motorcycle insurance is all about peace of mind and providing financial protection for you and your bike against a wide range of incidents. AAMI Motorcycle Insurance, issued by AAI Limited, is designed to meet the needs of a wide range of motorcyclists.

There are three cover options available so you can choose the policy that’s right for you – Comprehensive Cover; Fire, Theft and Third Party Property Damage Cover; and Third Party Property Damage cover. Each AAMI policy is backed by a 24/7 paperless claims service, fast and reliable repairs, and a lifetime guarantee on all authorised repairs.
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What motorcycle policies are available from AAMI?

AAMI offers three main Motorcycle Insurance Cover options:

• Comprehensive Cover. This high-level option is AAMI’s most popular motorcycle insurance policy. It covers your motorcycle against loss or damage caused by collision, fire, theft, storm and more, but also provides legal liability cover for damage you cause to other people’s vehicles and property.
• Fire, Theft and Third Party Property Damage Cover. This mid-range policy provides cover when your motorcycle suffers loss or damage as a result of fire, theft or attempted theft. It also includes up to $20 million of legal liability cover when you cause damage to other people’s property.
• Third Party Property Damage Cover. This entry-level cover option is the most affordable policy from AAMI, providing up to $20 million of legal liability cover when you cause damage to other people’s property. Up to $5,000 cover is also included for damage by uninsured drivers.

However, AAMI also offers compulsory third party (CTP) insurance to drivers in NSW and the ACT. This type of policy provides cover when you cause injury to other road users.

What does each policy cover?

• Comprehensive Cover
• Fire, Theft and Third Party Property Damage Cover
• Third Party Property Damage Cover
• CTP Insurance

General Exclusions

• What won't AAMI cover?

  Your AAMI Motorcycle Insurance claim will not be paid if:

  • You enter into an agreement or contract accepting liability.
  • Your motorcycle was being ridden by someone under the influence of alcohol or drugs.
  • Your motorcycle was being used as an integral means of earning an income.
  • It is caused by any structural, mechanical, electrical or electronic failure or breakdown.
  • It is caused by rust, wear and tear, mould, mildew or corrosion.
  • Your motorcycle was being ridden in an unsafe or unroadworthy condition.
  • It is for consequential loss of any kind, such as loss of income.
  • It is for any costs related to stress or anxiety.
  • Your motorcycle is being used to illegally store or transport dangerous or hazardous goods.
  • You exceed loading or passenger limits.
  • You fail to take reasonable precautions to prevent loss, damage or legal liability.

  • You use your bike for hire, fare or monetary reward.
  • It is for loss or damage caused by using the wrong fuel.
  • It is for intentional loss or damage caused by you, or by someone acting on your behalf.
  • It is for loss or damage that occurs outside Australia.
  • It relates to a modification which was not street legal, roadworthy or approved by the relevant transport department.
  • You were engaged in racing or any other competitive activity.
  • It is for any intentional or reckless act by you, or someone acting with your consent.
  • It is for damage to tyres caused by braking, punctures, road cuts or bursting.
  • You used your motorcycle for unlawful purposes.
  • Your motorcycle was ridden by an unlicensed rider.
  • Your motorcycle was unregistered at the time of an incident.

  For a full list of exclusions, ensure you read AAMI's Product Disclosure Statement (PDS).

How Much Does AAMI Motorcycle Insurance Cost?

There are several factors that influence the cost of your AAMI Motorcycle Insurance policy, including:

• The level of cover you choose. Comprehensive cover is the most expensive.
• Your excess. With AAMI Flexi-Premiums, you can choose lower premiums in return for a higher excess.
• The insured amount. The amount AAMI agrees to cover your motorcycle for will obviously have an impact on the cost of premiums.
• No-claim discount. You will receive cheaper premiums if the insurer applies a no-claim discount to your policy.
• When you pay premiums. You can save money if you pay premiums annually rather than in monthly instalments.
• Where your bike is stored. A bike kept in a locked garage overnight will be cheaper to cover than one left parked on the street.
• Your claims history. Your previous claims history and driving experience will also be taken into account.

AAMI Motorcycle Insurance Excess

An excess is the amount you have to pay for each incident that leads to a claim. The amount and types of excesses that apply to your policy will be shown on your certificate of insurance, but could include the following:

• Standard excess. This excess applies to all claims.
• AAMI Flexi-Premiums excess. This option allows you to lower your premiums by increasing your policy’s excess.
• Age excess. This excess is payable if a rider under 25 years of age was riding your motorcycle at the time of the incident.
• Inexperienced rider excess. You’ll need to pay this excess if an inexperienced rider was riding, using or in charge of your motorcycle when the incident occurred.

Making a Claim

If you’re involved in an accident or your bike is stolen, the first thing you should do is make sure everyone is safe and phone 000 if necessary. Next, take any steps you can to prevent further loss or damage, such as moving your motorcycle off the road.

If someone is injured, or if someone has stolen, attempted to steal or maliciously damaged your motorcycle, phone the police straight away and record the time, date, report number and the name of the recording officer.

You should also record the names and details of all drivers, passengers and witnesses, and contact AAMI as soon as possible. An AAMI representative will talk you through what you need to do to lodge your claim, and will organise towing if required.

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FAQs

• When can I lodge a claim?

  You can lodge an AAMI Motorcycle Insurance claim 24 hours a day, 7 days a week online or over the phone.

• Does AAMI Comprehensive Motorcycle Insurance offer new motorcycle replacement?

  Yes. If your motorcycle is less than two years old when it is written off, you will receive a new bike. Ensure you read the PDS for terms and conditions.

• Is there a no-claim discount available?

  Yes, AAMI’s No-Claim Bonus provides a discount that increases at each policy renewal (until you reach the maximum discount) to reward you for a good driving history.

• When do I pay my premiums?

  You can pay your AAMI insurance premiums annually or in monthly instalments; however, paying monthly will cost a little extra.

• Is there a cooling-off period?

  Yes, a cooling-off period of 21 days starts when you take out cover. If you cancel your policy during this time you will receive a full premium refund.

• Am I covered if I use my motorcycle for business use?

  No. AAMI’s policies are only designed to cover motorcycles used for private purposes.

If you want to cover your bike against a wide range of risks and enjoy the peace of mind that comes with financial protection, AAMI Motorcycle Insurance is well worth considering. Compare its features with the benefits offered by other motorcycle insurance policies on finder.com.au.

Written by

William Eve

Group publisher

Willam Eve is the country manager for Finder's Canada operations. He has previously held the positions of group publisher of insurance for Finder Australia and lead publisher for the Finder global team. William has a Bachelor of Communications from the University of Technology Sydney, Australia. He loves the challenge of launching Finder into new markets while helping grow Finder’s global team. See full bio