If your insurance certificate states you’ve purchased theft insurance, then this section shows what’s covered and what’s not covered under your policy.
Theft cover
What IS covered
What’s NOT covered
A. Theft of your bike
Total loss
If your bike’s stolen and not recovered, we’ll pay you the sum insured shown on your insurance certificate. If your bike is recovered but is so badly damaged the repair and salvage costs are likely to be more than the market value of your bike, we'll pay you the sum insured shown on your insurance certificate. If any finance is still owing on the bike, we’ll pay out the lender first and then pay you the balance.
If the bike is a total loss as a result of theft within one year of its first registration (and you are the first registered owner), we’ll replace it with a new bike of the same make and model. This includes similar accessories, tools and spare parts, and we’ll pay delivery and on road costs too. If your bike’s to be replaced, you must obtain the consent of your financier, if applicable.
Partial loss or damage
Where your bike is damaged as a result of the theft, we’ll cover you against the loss or damage. We have the option of either paying you the amount of your loss or of having your bike repaired.
We will decide how your bike is repaired. We will pay up to the sum insured shown on your insurance certificate in line with the costs agreed by our assessor. We can replace damaged parts with new or second hand parts providing they are of a similar condition to those being replaced.
For either total or partial loss, listed modifications will also be covered for the relevant amount.
We won’t cover you for modifications or accessories that aren’t listed on your insurance certificate, or those that are but exceed the listed amount.
We won’t cover you for any loss or damage resulting from anything other than theft.
B. Additional Benefits
Towing costs
If your stolen bike is recovered, we’ll pay for reasonable costs of towing your bike to a repairer or safe place, if it can’t be ridden.
Bike change over
If you sell your current bike, we’ll automatically provide theft cover for any replacement bike for not more than 14 days from the date you sold your bike.
Personal valuables
If you’ve selected this option, your personal valuables are covered if they were stolen or damaged while you were riding your bike or while they were stored in a secured storage compartment on your bike.
We won’t pay more than the amount shown on your insurance certificate.
We won’t pay more than $1000 for any single item.
We will not pay for wear and tear, or damage associated with normal reasonable use.
Personal valuables are not covered when away from your bike.
Riding gear
If you’ve selected this option we’ll cover your riding gear up to the amount shown on your insurance certificate. Gear is covered if stolen or damaged in activity associated with use of your bike.
If a pillion is involved in the accident, we’ll cover their gear too. InsureMyRide reserves the right to keep the damaged items that have been replaced under this section of the policy.
Cover is only provided if your riding gear was stolen or damaged while you were riding your bike or while they were stored in a secured storage compartment on your bike.
We won’t pay more than the amount shown on your insurance certificate.
We won’t pay more than $2000 for any single item.
We will not pay for wear and tear, or damage associated with normal reasonable use.
Gear is not covered when away from your bike. Riding gear is not covered when away from your bike.
Locks and Keys Cover If your bike keys have been stolen and you have reported this to the police, we will pay for the replacement of your keys and the necessary recoding of your bike locks.
