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Motorcycle Insurance in Australia: Market Research Report

Market Research • Market Size • Industry Statistics • Industry Analysis • Industry Trends

Motorcycle Insurance Market Research Report | Advisory & Financial Services | Specialist Insurance Lines | Sep 2016

The fast track: Increasing motorcycle numbers have benefited industry growth

The Motorcycle Insurance market research report provides key industry analysis and industry statistics, measures market size, analyzes current and future industry trends and shows market share for the industry’s largest companies. IBISWorld publishes the largest collection of industry reports so you can see an industry’s supply chain, economic drivers and key buyers and markets.

Report Snapshot
Market Share of Companies
IAG IAG market share
QBE Insurance Group QBE Insurance Group market share
Suncorp Group Suncorp Group market share
Industry Statistics & Market Size
Revenue
$441m
Annual Growth 12-17
4.8%
Annual Growth 17-22
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Profit
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Employment
256
Businesses
45
Industry Analysis & Industry Trends

The Motorcycle Insurance industry has been growing at a strong pace over the past five years. Consumers have taken up motorcycles as high petrol prices over the three years through 2013-14 made the upkeep of cars more expensive. More people have been adopting motorcycles as their main form of transport, which has contributed to the industry's strong growth over the past five years. This trend has been most significant on the east coast of Australia, which has larger populations and more traffic congestion. These conditions have prompted consumers to purchase motorcycles for increased manoeuvrability and ease of parking.

Large insurance companies have capitalised on the growing number of motorcycles... purchase to read more

Industry Report - Industry Products Chapter

The Motorcycle Insurance industry is broken down into three product segments: comprehensive, third-party and compulsory third-party insurance.

Comprehensive insurance

Comprehensive insurance is the broadest and most expensive form of insurance offered. It covers policyholders for damage to their motorcycles and damage that their motorcycles may cause to other people's vehicles or property. Comprehensive insurance includes cover for motorcycle theft and accidental damage (including protection against natural disasters), cover for protective clothing, any emergency costs and replacement of lost keys. Insurers often extend the value of coverage to include roadside assistance. Some comprehensive insurance policies will even replace damaged vehicles with new vehicles... purchase to read more

 


Industry ProductsRelated ReportsTable of Contents

What is the Motorcycle Insurance Industry?

This industry underwrites (i.e. assuming the risk and assigning premiums) motorcycle insurance policies. Motorcycle insurance provides financial protection against physical damage to the vehicle and bodily injury resulting from traffic collisions. It can also protect against resulting liability.

Industry Products
Comprehensive insuranceThird-party insuranceCompulsory third-party insurance
 
Industry Activities
Underwriting comprehensive motorcycle insuranceUnderwriting compulsory third-party motorcycle insuranceUnderwriting third-party motorcycle insurance


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