There are three levels of motorcycle insurance in NSW: comprehensive, third party, fire and theft, and third party property damage.
Our comparison table can help, but it can't show you prices. That's because quotes are personalised to where you live in NSW, the cover you choose and the type of bike you own. Compare features first then click through for a personalised quote.
Yes, Compulsory Third Party (CTP) insurance is mandatory and you must purchase a policy before your motorcycle can be registered in NSW. While CTP is included as part of your registration costs in most Australian states and territories, it must be purchased separately in NSW so it's vital you do this before hitting the open road.
Besides this, there are several other important reasons why you should purchase motorcycle insurance, including:
Protects against essential risks. Cover for Fire, theft, collision, vandalism, third party liability and more. There were 1,865 stolen motorcycles in NSW in 2017-18, according to the National Motor Vehicle Theft Reduction Council (NMVTRC) – so motorcycle insurance can protect your bike (and your wallet) against common risks.
Cover for a wide range of motorcycles. From sports bikes and cruisers to scooters, mopeds and just about everything else you can think of, there are motorcycle insurance policies available to cover an extensive variety of motorcycles. NSW requires the same insurance cover for mopeds and scooters as they do motorcycles.
Covers your pride & joy. There are three main types of motorcycle insurance cover available, allowing you to choose a policy that matches your cover needs and budget. Some insurers also provide specialist cover for unique motorcycles, such as vintage or classic machines, which can be helpful for motoring enthusiasts throughout NSW.
Hit the road with peace of mind. NSW is Australia's most populous state, which will mean premiums tend to be higher on average than other states. This is largely because there are more people on the road, putting you at greater risk. Having insurance in place allows you to hit the road knowing you don't need to worry about the financial impact if something goes wrong.
What should I consider when purchasing motorcycle insurance in NSW?
Before deciding on the right motorcycle insurance policy for you, make sure you closely consider your cover needs and budget. Once you know how much you want to insure your bike for and the risks you want to be protected against, you’ll be ready to start comparing policies.
However, it’s also worth pointing out that while Compulsory Third Party (CTP) insurance is included as part of your registration costs in most Australian states and territories, it must be purchased separately in NSW and the ACT. CTP insurance is mandatory and you must purchase a policy before your motorcycle can be registered in NSW.
In addition to CTP insurance, it’s also worth considering taking out motorcycle insurance that covers third-party damage liability and damage to your bike. There are three types of motorcycle liability and damage insurance available – we’ll take a closer look at what they cover in the next section.
What type of motorcycle insurance can I get in NSW?
There are three types of motorcycle insurance available in NSW: comprehensive insurance, third party fire and theft insurance, and third party property damage insurance. Check the table below for more details on what each of these policies does and doesn’t cover.
Feature
Comprehensive
Third party fire and theft
Third party property damage
Damage to other people’s property
Yes
Yes
Yes
Damage to your motorcycle when involved in a no-fault accident with an uninsured motorist
Yes
Yes
Yes
Damage to your motorcycle caused by fire and theft
Yes
Yes
No
Damage to your motorcycle caused by accident/collision
Yes
No
No
Damage to your motorcycle caused by vandalism, malicious acts, storm, hail, flood, earthquake
Yes
No
No
For a full rundown on the cover provided by each type of motorcycle insurance, read the PDS provided by your insurer.
What things can affect my motorcycle insurance premium?
There are several factors that affect the cost of motorcycle insurance in NSW, such as:
Your age. Younger riders are statistically more likely to be involved in an accident and therefore have higher premiums.
The size of your bike’s engine. The more powerful the motorcycle, the higher your premiums will be.
The level of cover you choose. The higher your level of cover, the more you will need to pay for a policy. The sum insured you select will also influence your premium amount.
Your riding and claims history. If you’ve never made a motorcycle insurance claim or had a traffic infringement, you’ll pay less for cover than someone with a chequered riding history. However, if you’ve only held your licence for less than two years, you can expect to pay more for cover.
Where your bike is kept. The suburb where your bike is kept overnight will affect premiums; for example, if you live in an area with a higher than average rate of motorcycle theft you will cop a higher premium. Keeping your car in a locked garage instead of parked out in the open can also reduce premiums.
Outstanding finance. If there is money owing on your bike, expect your premiums to be higher.
How much you ride. The less you ride, the cheaper your premiums will be. However, if you ride regularly or cover a significant amount of kilometres each year, expect premiums to rise.
Rider training. If you complete an advanced rider training course, some insurers will reward you with cheaper premiums.
Discounts. You can save money on cover by taking advantage of any discounts that apply, such as a loyalty discount for long-term policyholders.
What exclusions and additional costs should I be aware of in NSW?
Motorcycle insurance in NSW attracts stamp duty at a rate of 5% of the insurance premium. While the insurer is usually liable to pay this duty, sometimes the additional cost will be passed on to you. If your motorcycle has been modified with non-manufacturer accessories and is no longer street-legal or roadworthy, you will not be able to purchase motorcycle insurance cover in NSW.
No cover if your bike was being used illegally, such as for street racing or burnouts
No cover if your bike was being ridden by someone under the influence of alcohol or drugs
No cover if you ride your bike while unlicensed
No cover if your bike was carrying a larger load or larger number of passengers than permitted by law
Finally, keep in mind that motorcycle insurance in NSW attracts stamp duty at a rate of 5% of the insurance premium. While the insurer is usually liable to pay this duty, sometimes the additional cost will be passed on to you.
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Gary Ross Hunter is an editor at Finder, specialising in insurance. He’s been writing about life, travel, home, car, pet and health insurance for over 6 years and regularly appears as an insurance expert in publications including The Sydney Morning Herald, The Guardian and news.com.au. Gary holds a Kaplan Tier 2 General Advice General Insurance certification which meets the requirements of ASIC Regulatory Guide 146 (RG146).
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