CGU Motorcycle Insurance

Before you can hit the road on two wheels and explore the best roads Australia has to offer, it’s essential to make sure you have adequate insurance coverage in place. CGU has been looking after the insurance needs of Australians for 160 years and offers three policies for Australian motorcyclists: Comprehensive, Third Party Fire and Theft, and Third Party Property. All policies are backed by a 24/7 claims service and CGU’s industry-leading liability cover.

Read on to learn more about the policies available from CGU and when you won't be covered.

What motorcycle policies are available from CGU?

You can choose from the following Motorcycle Insurance cover options with CGU:

• Comprehensive. Designed to offer the highest level of protection, this policy covers loss or damage to your motorcycle caused by collision, fire, storm or flood, theft or attempted theft, vandalism and malicious acts. It also provides $30 million of legal liability protection when your motorcycle causes damage to other property, and provides full cover for damage caused by a no-fault accident with an uninsured motorist.
• Third Party Fire and Theft. This is a mid-range policy that includes CGU’s $30 million of legal liability cover when your motorcycle causes damage to someone else’s vehicle or property. It also covers loss or damage caused by fire, theft and attempted theft, plus provides $5,000 protection for damage caused in a no-fault accident with an uninsured motorist.
• Third Party Property. This policy is designed for budget-conscious riders, providing $30 million of legal liability cover when your motorcycle causes damage to someone else’s vehicle or property. It also provides $5,000 protection for damage caused in a no-fault accident with an uninsured motorist.

What does each policy actually cover?

• Comprehensive
• Third Party Fire and Theft
• Third Party Property

When won't you be covered?

• General exclusions to be aware of

  • It is for loss, damage or liability that occurs outside Australia.
  • It arises because you were riding under the influence of alcohol or drugs.
  • Your motorcycle was being ridden by someone specifically excluded from cover.
  • It is for loss, damage or liability caused by you, a member of your family or an authorised rider.
  • Your motorcycle was being used for an unlawful purpose.
  • Your motorcycle was being used for hire.
  • Your motorcycle was carrying passengers as part of a paid arrangement.
  • Your motorcycle was being used for any other purpose than that for which it was made.
  • Your motorcycle was being used in any form of motor sport.
  • Your claim arises from the lawful destruction or confiscation of your property.
  • Your motorcycle was being ridden in an unsafe or unroadworthy condition.
  • Your motorcycle was being operated by an unlicensed rider.
  • Your motorcycle was being used while unregistered.
  • Your motorcycle was damaged in an incident and you do not take reasonable steps to prevent any further loss or damage.

How much will cover cost?

The cost of your CGU Motorcycle Insurance policy will be influenced by:

• The type of policy you have. For example, Comprehensive Insurance is more expensive than Third Party Property Insurance.
• Any options you have chosen. Adding optional covers to your policy will increase your premium amount.
• The value of your motorcycle. The more expensive your motorcycle, the more it will cost to insure.
• The make and model of your motorcycle. Certain models of motorcycles may be more attractive targets to thieves, or may have a higher risk of being involved in an accident.
• Mods and accessories. If you have modified your vehicle or fitted any accessories, this will affect the cost of cover.
• Where your motorcycle is kept. The crime rate in your area as well as whether your bike is garaged or not can have an impact on premiums.
• What your vehicle is used for. CGU will assess whether your bike is used for private or business purposes.
• Your history. Your previous claims history and driving experience will also have an impact on your premiums.

What excess will I be charged?

An excess is the amount you must contribute towards the cost of a claim. The types and amounts of the excesses that apply to your CGU Motorcycle Insurance policy will be shown on your certificate of insurance. There are four types of excesses that may apply to cover:

• Basic excess. The basic excess amount varies depending on the make and model of your motorcycle and the state or territory where it is used.
• Age excess. This applies when the rider of your motorcycle is less than 25 years old.
• Inexperienced driver’s excess. This excess is payable if the rider of your vehicle is 25 years of age or older and has not held a motorcycle licence for the two consecutive years before the claim occurs.
• Additional excess. This excess applies when CGU agrees to cover your bike, or a specified rider, under special terms and conditions.

How do I claim?

The first step if you’re involved in an accident is to make sure everyone is safe. Phone the emergency services if necessary, while you should also report any theft, attempted theft or malicious acts to the police.

Next, gather all the details you may need to support your claim, including:

• The names and contact details of anyone involved in an accident, including witnesses
• Any letters, notices or court documents about an incident
• The police incident report number

Once you’ve collected this information you can contact CGU or insurance adviser to make a claim. Claims can be made 24 hours a day, 7 days a week, and it’s vital that you notify CGU of your claim as soon as possible.

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Some final questions you might have

• Does CGU Motorcycle Insurance have a cooling-off period?

  Yes, a 21-day cooling-off period applies. If you decide to cancel your policy within the first 21 days, you will receive a full refund of your premium.

• How much legal liability cover is available?

  While many insurers offer $20 million of legal liability cover when you cause damage to someone else’s vehicle or property, CGU offers $30 million of legal liability protection.

• Will my motorcycle be replaced with a new one if it is written off?

  CGU Comprehensive Motorcycle Insurance offers new-for-old replacement on motorcycles that are less than a year old and a total loss.

• Can I choose my own repairer?

  Yes, you have the freedom to choose the repairer you want to fix your motorcycle after a claimable incident.

• Is agreed value cover available?

  Yes. You can choose between agreed or market value.

If you want cover for your motorcycle, consider the cover options available from CGU. To ensure that you end up with adequate cover, compare the features and limits of a range of policies before you buy.