What does motorcycle insurance cost?

What factors will affect how much you pay for your motorcycle insurance premium? How does the cost compare for different bikes?

This year, for the first time, Canstar has researched and rated 11 providers of comprehensive motorcycle insurance in Australia. So – what could a comprehensive motorcycle insurance policy cost you?

What is the average premium for comprehensive motorbike insurance?

There are different types of cover when it comes to motorcycle insurance, and many factors affect the cost of your premium. When  it comes to comprehensive motorcycle insurance, though, let’s take a look at the average costs that we found when researching and rating comprehensive insurance policies, depending on your age and the power (cc) of your bike’s engine:

Power Age (years) Average premium ($)
300 cc 20 $1,869.34
24 $849.78
30 $535.71
45 $395.10
600 cc 20 $4,309.39
24 $2,056.62
30 $1,209.48
45 $858.33
1000 cc 24 $2,443.85
30 $1,474.93
45 $1,103.86
1700 cc 24 $2,333.04
30 $1,443.27
45 $965.02
Source: www.canstar.com.au

Averages are based on the average premiums in the states and territories we researched and rated.

As you can see from this table, it is still true to say that your premiums will get cheaper as you get older and gain more experience as a rider.

It is also clear that higher-powered 600cc engines will attract a higher premium than a 300cc engine.

Across all states and territories, insurers are not willing to insure a 20-year-old rider for an engine above 660cc power. This is so that they comply with Australia’s federal legislation, which is designed to protect younger riders until they have enough experience to handle a higher-powered beast safely.

 

Compare motorcycle insurance

 

What does motorcycle insurance cost: State Vs State

Which state gets the cheapest motorcycle insurance? Where should you live if you want to ride your bike more cheaply?

As of mid-2015, the Harley-Davidson Street 500cc has at last overtaken the Kawasaki Ninja 300cc as Australia’s most popular road bike. For that reason, we will be comparing state-by-state comparisons for both 300cc and 600cc engines.

The average premiums listed are based on the average of numerous different locations across the state, to show approximately how much most people in each state are likely to pay for their premium.

Average premiums across state and age: A summary

 

As you can see from the table below, our star ratings show that NSW and the ACT are still the most expensive places in Australia to insure a motorcycle. All the figures in the tables below are based on the premiums we found when researching and rating insurance policies for our most recent ratings. Please refer to our ratings methodology document for further details.

  20 years old 24 years old 30 years old 45 years old
NSW / ACT $3,012.66 $1,986.69 $1,193.77 $830.59
QLD $2,326.03 $1,657.50 $945.61 $678.06
SA $1,984.28 $1,560.68 $1,034.55 $771.00
TAS $1,974.55 $1,343.83 $818.83 $675.68
VIC $2,494.97 $1,689.35 $1,025.58 $707.08
WA $1,991.54 $1,422.86 $923.04 $616.72

Let’s break it down a bit.

New South Wales and the Australian Capital Territory

Age Engine Capacity Average Premium Minimum Premium Maximum Premium
20 300cc $2,623.76 $1,126.65 $7,534.72
600cc $5,566.41 $2,533.00 $10,783.01
24 300cc $1,147.54 $697.67 $2,653.69
600cc $2,600.34 $1,454.88 $4,009.73
30 300cc $684.88 $266.86 $1,339.47
600cc $1,505.90 $958.98 $2,153.28
45 300cc $505.53 $241.09 $1,087.24
600cc $1,067.49 $704.27 $1,694.33

Queensland

Age Engine Capacity Average Premium Minimum Premium Maximum Premium
20 300cc $1,866.63 $1,064.26 $3,586.26
600cc $4,367.41 $2,949.54 $5,170.71
24 300cc $861.57 $688.21 $1,287.46
600cc $2,112.39 $1,734.76 $2,467.25
30 300cc $504.25 $256.98 $693.54
600cc $1,152.20 $815.28 $1,660.40
45 300cc $382.13 $219.75 $554.94
600cc $832.56 $594.41 $1,125.94

South Australia

Age Engine Capacity Average Premium Minimum Premium Maximum Premium
20 300cc $1,571.59 $615.98 $3,423.35
600cc $3,759.40 $2,156.04 $5,189.13
24 300cc $727.83 $352.63 $1,299.11
600cc $1,841.72 $1,261.51 $2,476.05
30 300cc $497.77 $263.19 $727.84
600cc $1,159.49 $857.15 $1,492.44
45 300cc $366.83 $220.38 $595.53
600cc $841.71 $611.82 $1,028.03

Tasmania

Age Engine Capacity Average Premium Minimum Premium Maximum Premium
20 300cc $1,599.24 $576.84 $3,149.52
600cc $3,707.12 $1,544.49 $5,505.82
24 300cc $734.59 $402.14 $1,193.07
600cc $1,776.12 $1,091.00 $2,627.15
30 300cc $453.81 $250.00 $666.83
600cc $1,024.32 $679.73 $1,286.74
45 300cc $349.06 $223.01 $547.85
600cc $745.26 $499.06 $935.60

Victoria

Age Engine Capacity Average Premium Minimum Premium Maximum Premium
20 300cc $1,992.43 $1,000.49 $3,677.56
600cc $4,704.79 $3,254.11 $5,617.65
24 300cc $885.30 $656.46 $1,301.27
600cc $2,147.16 $1,832.59 $2,680.51
30 300cc $564.68 $337.80 $842.77
600cc $1,250.74 $917.57 $1,902.59
45 300cc $408.51 $229.60 $645.44
600cc $877.71 $652.49 $1,087.69

Western Australia

Age Engine Capacity Average Premium Minimum Premium Maximum Premium
20 300cc $1,562.41 $712.61 $2,901.54
600cc $3,748.19 $1,873.36 $6,038.00
24 300cc $741.87 $460.41 $1,081.86
600cc $1,861.97 $1,224.85 $2,881.09
30 300cc $508.87 $297.38 $733.30
600cc $1,164.21 $822.21 $1,597.32
45 300cc $358.52 $247.23 $563.67
600cc $785.24 $610.84 $986.76

Why does the cost of motorcycle insurance vary by state?

The cost of insurance varies across Australia because of each area’s different state populations and traffic incidence rates.

Tasmania has the cheapest premiums in Australia because its population was only 516,000 in 2015, compared to NSW which has the highest premiums for its population of 7,610,148 in 2015.

Traffic accident statistics generally match population rates. NSW shows the highest rate of fatal motorcyclist crashes by far, with 60 deaths in 2014 alone, according to the government’s Bureau of Infrastructure, Transport and Regional Economics (BITRE).

NSW also has the most fatal car crashes in Australia overall, while Queensland has the most passenger deaths, and Victoria has the most pedestrian deaths.

Whatever state you live in, you can do your part to prevent road accidents. Read the NSW government or Victorian government tips for staying safe on your bike.

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