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 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