NRMA Motorcycle Insurance Review April 2021 | finder.com.au
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NRMA Motorcycle Insurance

Choose from 5 policies for your motorcycle or scooter with NRMA motorcycle insurance and enjoy up to 65% no claims bonus.

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NRMA Insurance offers a suite of car, home, business and travel insurance products backed by Insurance Australia Group (IAG). It also offers a wide range of motorcycle and scooter insurance policies to provide financial protection when your bike is damaged or stolen, or when you cause vehicle or property damage to a third party.

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Motorcycle policies available from NRMA

NRMA offers the following cover options to customers:

  • Comprehensive Motorcycle or Scooter Insurance. This is NRMA’s highest level of motorcycle cover. It covers loss or damage to your bike or scooter up to the agreed market value caused by accidental damage, collision, earthquake, explosion, fire, storm, theft and vandalism. Cover is also provided for emergency repairs, a hire car after theft or attempted theft, a new replacement vehicle for motorcycles less than two years old, and cover for tools of trade. Up to $20 million of liability cover is also included.
  • Motorcycle or Scooter Third Party Property Damage Insurance. This is the most basic policy NRMA Insurance offers to provide cover when you cause vehicle or property damage to someone else. It provides up to $20 million of legal liability cover, and also provides $5,000 cover if you have a crash with an uninsured at-fault driver. Reasonable towing costs are covered as well.
  • Veteran, Vintage & Classic Motorcycle Insurance. This NRMA Motorcycle Insurance policy offers tailored cover for motorcycles and scooters that are more than 15 years old and used for special occasion/wedding hire, or for hobby or recreational use and is ridden less than 10 days per month. Veteran (pre- 1919), vintage (made between 1919 and 1930) and classic (15 years or older) motorcycles are covered for loss or damage for an agreed value caused by a wide range of incidents, and $20 million of legal liability cover is also included.

Levels of cover

  • $20 million legal liability cover
  • New motorcycle or scooter replacement for bikes less than two years old
  • Cover for loss or damage caused by accidental damage, explosion, storm flood, fire, theft, attempted theft, vandalism and more
  • Agreed or market value cover
  • Hire car after theft or attempted theft
  • Up to $2,000 cover for protective clothing and personal items
  • Emergency repairs cover
  • Up to $1,500 tools of trade cover
  • $20 million legal liability cover
  • $5,000 cover if you have a crash with an uninsured at-fault motorist
  • Towing costs after a crash with an uninsured at-fault motorist
  • Temporary cover when you sell your motorcycle and replace it with another oneoto
  • For bikes more than 15 years old and that meet other special conditions
  • $20 million legal liability cover
  • Up to $3,000 cover for protective clothing and personal items
  • Agreed value cover
  • Cover for loss or damage caused by accidental damage, explosion, storm flood, fire, theft, attempted theft, vandalism and more
  • Cover for emergency repairs and storage costs
  • Towing costs

What won't be covered?

How much does it cost?

There are several factors that could influence your NRMA Motorcycle Insurance premiums, including:

  • Your bike. The value you insure your bike for will affect the cost of premiums.
  • Where you keep it. Bikes kept in a secure, locked garage are cheaper to insure than bikes that aren’t.
  • The age of the insured riders. Younger riders are statistically more likely to make a claim and therefore have higher premiums.
  • Claims history of the insured riders. Your previous claims history will also be taken into account when determining the likelihood of you making a future claim.
  • How you use your bike. Your premium will vary based on whether you use your bike for private or business purposes.
  • Any discounts that apply. A No-claim Bonus and loyalty discount can also reduce the cost of premiums.

What excess will I be charged?

If you make a claim on your NRMA Motorcycle Insurance, you will need to pay an excess to contribute towards the cost of that claim. The certificate of insurance shows the types and amounts of excesses that apply to your policy, which may include:

  • Basic excess. This applies to most claims. If you have a Comprehensive policy, you can change the amount of this excess to alter the cost of your premiums.
  • Age excess. This excess is payable when the driver at the time of an incident is under 25 years of age, or over 25 but with less than two years of driving experience.
  • Special excess. Any special excess that applies will be outlined in your certificate of insurance.

Making a claim with NRMA

If you’re involved in an accident, make sure everyone is safe and phone the emergency services if required. You can then gather the names and details of all other riders/drivers and witnesses involved in the incident.

Alternatively, if you’re the victim of theft, attempted theft or a malicious act, you must notify the matter to the police immediately and record the details of your report.

You can contact NRMA Insurance 24 hours a day, 7 days a week over the phone or online to lodge your claim. If needed, NRMA can arrange the towing of your vehicle after an incident.

For approved claims, NRMA will either:

  • Repair your vehicle
  • Pay you the reasonable cost to repair your vehicle
  • Pay your claim as a total loss
  • Pay for other benefits

Some final questions you might have

Before you choose any motorcycle insurance policy to protect your bike, it’s important to compare a range of policies to determine which one offers the best value. Make sure you read the Product Disclosure Statement before buying insurance. Compare NRMA Motorcycle Insurance with other policies at finder.com.au today.

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