MELBOURNE, Australia, March 21, 2022 (GLOBE NEWSWIRE) -- According to motoring insurance specialist, eric Insurance, motorbike insurance is an insurance policy that can offer protection for the rider against accidental damage to other people's property as well as theft, fire or damage to the bike itself. The cover amount is dependent on the type of insurance taken out.
There are varying types of motorbike insurance and eric offers two: Comprehensive Motorcycle Insurance and Fire, Theft and Third Party Property Damage (FTTPPD).
Like comprehensive car insurance, eric explains that comprehensive motorbike insurance provides riders with the highest level of cover, giving the greatest peace of mind. Comprehensive insurance offers extensive coverage for loss or damage to the bike, including accidental damage both at-fault and not-at-fault, theft, third party property damage, damage caused by uninsured drivers, vandalism, hail, storm and flood.
FTTPPD insurance protects any legal liability for damage to other people's property as well as protection for the motorbike from damage due to a fire or theft. eric Insurance says this type of insurance covers the cost of repairs or in the event of a total loss, the amount covered for loss or damage caused by fire and theft will be paid.
There is also another type of insurance called Compulsory Third Party Insurance, which offers protection to drivers or riders for personal injuries caused in an accident and compensates other people injured in the accident. CTP doesn't insure against any repair costs. To register a bike in Australia, it is a legal requirement to have Compulsory Third Party (CTP) insurance, while other insurance policies are optional. Depending on the state, CTP insurance may be included in the registration fees or may need to be purchased through the relevant Road Traffic Authority.
Choosing the insurance that is right depends largely on the individual's budget, and eric highly recommends riders select the best cover for their personal circumstances. It is worth weighing up the insurance premium payable against how much one can afford to pay in the event of an accident.
eric Insurance assesses an applicant's eligibility before providing them with a quote. In addition, eric is known for offering the best car insurance policies. Apply for motorbike or car insurance online today.
Disclaimer: This article contains general product information only and doesn't take into consideration your personal or financial situation. Please read the relevant Product Disclosure Statement (PDS) and Target MarketDetermination (TMD) for full terms, conditions and eligibilities that apply. For more information, call 1800 999 977.
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