- Motorcycle Insurance 2022

What's covered by third party motorcycle insurance?

Benefit Third Party Property Only Third Party Property, Fire and Theft
Collision damage to other people's property Up to $20 million including GST, (less applicable expenses) Up to $20 million including GST, (less applicable expenses)
Legal costs Yes Yes
Damage caused by uninsured motorist Up to your bike's market value or $5,000 (whichever is the lesser) Up to your bike's market value or $5,000 (whichever is the lesser)
Fire No Yes
Theft No Yes
Towing No Fire and theft only
Hire car following theft No Until your bike is returned or repaired, or up to 14 days (limit of $1,000)
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Terms, conditions, limits and exclusions apply. For full details, please read the Product Disclosure Statement.

(Third party property insurance, which is not mandatory, should not be confused with compulsory third party (CTP) insurance.)

More reasons to choose us

Guaranteed repairs

We guarantee the quality of authorised repairs to your motorcycle for as long as you own it. This guarantee covers materials and workmanship.

Cooling-off period

If you haven’t made a claim, you can cancel your policy within 21 days of the purchase date and receive a full refund of your premium.

Flexible payments

Pay your premium monthly or yearly (the last option is the most economical, as you’ll pay a lower premium and avoid administration fees).

Adjustable excess

Depending on the value of your motorcycle, you may be able to increase your Basic Excess in return for a lower premium.

Award-winning Australian motorcycle insurance

The Annual Awards highlight products and services that have been well regarded by the ProductReview community.

These awards are judged independently and impartially by the ProductReview Data & Content Team. The winners represent the best and most reliable purchasing choices available to Australian consumers in 2021 - and we have been named as the best choice for motorcycle insurance. - Motorcycle Insurance 2022

Want more cover?

Third party motorcycle insurance does not cover loss or damage to your motorbike due to:

  • Crash or collision
  • Severe weather (e.g. hail or flood)
  • Malicious acts

If you want protection against these incidents, you’ll need to consider buying Comprehensive Motorcycle Insurance.

Frequently asked questions

How much can I insure my motorcycle for?

With Budget Direct, you can insure your motorbike for its market value or, in some cases, for an agreed value. 

Market value is the reasonable cost to replace your bike with one of the same make, model, age, and condition as at the time of the loss or damage. 

Agreed value is the amount we agree to insure your bike for during each 12-month term of insurance. 

The value for which your bike is covered is shown on your insurance certificate.

Does motorcycle insurance cover modifications?

Budget Direct covers all aftermarket modifications to your comprehensively insured motorcycle, except:

  • custom paintwork (excluding decals/stickers)
  • ECU (electronic control unit) remap or upgrade
  • frame or subframes
  • nitrous oxide kit
  • turbo or supercharged.

If your aftermarket modification is not listed and you’re unsure whether we’ll cover it, contact us and we’ll let you know.

When getting a quote and buying insurance, you’ll need to tell us about any modifications and accessories.

This will ensure you know what your policy does and does not cover.  

How can I pay for my motorcycle insurance?

You can pay your Budget Direct motorcycle insurance premium by direct debit from your bank account or by credit card.

You can pay monthly or annually (the last option is the most economical, as you’ll pay a lower premium and avoid administration fees).

If I make an insurance claim, what will my excess be?

Unless you or another rider of your motorcycle have a no-fault accident, you’ll be required to pay:

  • your Basic Excess 

….as well as any additional excesses that apply, namely:

  • rider is under 24 years of age inclusive
  • rider has not held an open Australian motorcycle licence for 2 or more years
  • rider is not listed on your insurance certificate.

The dollar amounts of your Basic Excess and the additional excesses are shown on your insurance certificate.

Do I have to pay an excess if the accident was not my fault?

No — you do not have to pay an excess if you have a no-fault accident with another vehicle.

A no-fault accident is one that meets the following criteria:

  • we decide the driver of another vehicle (or another person) was entirely at fault, and
  • you tell us the at-fault driver’s full name, address, and vehicle registration number.

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