Motorcycle Insurance Discounts
What is my No Claims Discount rating?
Just organizing some insurance for my motorcycle. I’ve never had insurance before, so what would my No Claims Discount rating be?
(options are level 1 through to 6). In Australia btw.
thanks much!
It really depends on a number of factors including your age and driving/riding experience, not to mention the company policy itself. For example I’m 36 and never had an at fault accident therefore automatically qualify for maximum no claim bonus, yet and 18 year old would likely start on 10% or even none. The good news is, though, the longer you hold your policy (comprehensive only BTW) and make no at fault claims your bonus will increase each year to the maximum 65% (or rating 6 in some states).
With insurance your best bet is to shop around and get some online quotes and also ring them, have them send you a copy of the product disclosure statement, which is basically details of what the policy does and does not cover. Remember they want your money so it’s up to you who you want to give your money to. In the states that have greenslips (NSW, ACT and Qld as far as I’m aware) you can at times qualify for a “multipolicy discount” meaning if you take out a greenslip and comprehensive insurance policy they’ll give you a small discount on the comprehensive policy (usually only about 5%). This also can count if you have house and/or contents insurance with the same company.
I’ve linked below some major insurance companies, they cover you for all over Australia it’s just that the states I mentioned is where you live they cover for, e.g. RACV won’t cover someone living in Sydney because of agreements with the NRMA.
NRMA Insurance (NSW, ACT, Tas and Qld)
http://www.nrma.com.au
GIO Insurance (Australia wide):
http://www.gio.com.au
AAMI Insurance (Australia wide):
http://www.aami.com.au
RACV Insurance (Victoria and southern NSW):
http://www.racv.com.au/wps/wcm/connect/racv/Internet/Primary/insurance/
RACQ Insurance (Qld and northern NSW):
http://www.racq.com.au/insurance
RACT Insurance (Tas):
http://www.ract.com.au/
RACWA Insurance (Western Australia):
http://rac.com.au/
