Understanding Our New Suncorp Motorcycle Insurance PDS
Introducing the new Suncorp Motorcycle Insurance Product Disclosure Statement (PDS) for policies renewing on or after 25 March 2021. The PDS is an important legal document that contains details of the product you purchase so you need to read it carefully.
The purpose of this page is to advise you of some changes that we have made to our Suncorp Motorcycle Insurance PDS.
We want you to know that we’ve changed the layout of the PDS to help make it easier to understand. We have also made other changes to the policy – we have updated some of the wording to make it clearer, and we have added and changed some covers, conditions and exclusions.
Below are some of the sections in the PDS where we have made changes:
Sometimes your circumstances might mean you need additional support or assistance in dealing with us. If you are comfortable, you can tell us about your situation, and we will work with you to arrange support.
We have changed the responsibility for you to take ‘all reasonable precautions’ to prevent damage or theft with the responsibility to ‘take steps to prevent loss or damage’. We have also included some examples of how you can take steps to prevent loss or damage, such as not riding into water.
When you need to contact us
Additional situations of when you must contact Suncorp have been included. Such as the following:
- you or anyone who is likely to ride your motorcycle has their driver licence cancelled, suspended, disqualified or restricted;
- you or anyone who is likely to ride your motorcycle has been charged with or convicted of a criminal act or offence;
- you have had another insurer cancel or decline a policy, impose specific conditions on a policy or refuse a claim.
Excesses that apply to your claim
We have removed any requirement for you to pay your excess up front when a claim is made.
General Exclusions are now called ‘Things we don’t cover’.
Things we don’t cover include some new and updated exclusions such as:
- Extra costs or other losses following an incident covered by your policy
- Intentional or deliberate acts
- Alcohol, drugs, medication
- Reckless acts
- Riding a damaged motorcycle
- Sale of your motorcycle
- Unattended motorcycle
See the PDS for details.
We have updated the wording to remove the term ‘Additional features’ and have combined all additional cover under ‘Additional cover that comes with your policy’.
New motorcycle after a total loss for motorcycles less than 2 years old
This additional cover has been changed to provide you with cash settlement of the amount covered shown on your certificate of insurance (less applicable deductions) if you choose not to accept the replacement motorcycle offered, or we cannot supply a similar motorcycle.
Hire car after theft up to 21 days
We now arrange and pay the reasonable cost of a hire car that meets your transport needs, or if there is no hire car available from one of our providers that meets your transport needs, we will pay you the reasonable cost you incur in hiring a car that meets your transport needs or in arranging alternative transport.
Damage to a trailer is now covered when it becomes separated from your moving motorcycle.
How we settle your claim
We’ve made some changes to this section to better explain how we settle your claim.
Refer to this section of the PDS for more details.
If we don’t authorise repairs
We now pay the amount of the assessed quote from our preferred repairer, if you have requested a cash settlement and our preferred repairer is able to complete the repair or replace the damaged parts of your motorcycle.
We have removed the section ‘Obsolete parts’ from the PDS and replaced this with ‘Unavailable parts’. Where a damaged part is no longer available, we will pay you the last known market price of that part.
Contribution to repairs
We have clarified when we may ask you to contribute to the cost of repairs where we are unable to safely carry out insured repairs due to pre-existing damage to your motorcycle. Examples of this include neglect, wear and tear, weathering, rust, mould, mildew or corrosion.
If you do not want to pay these amounts, we will pay you the assessed amount for the repairs directly related to the accepted claim.
Our right to recover from those who are responsible
We have added examples of the assistance that may be required from you if we take action against a party for the recovery of your loss.
During the period of insurance, we might ask all joint policyholders first before we action a request or direction in relation to your policy (e.g. before we cancel your policy, reduce your cover or remove another policyholder). This way we can help protect the interests of all policyholders.
New section - Conduct of others
When we consider a claim, we will have regard to any prejudice suffered by you due to the conduct of others and we may meet the claim when we are not legally required to do so.
Removed - Cancellation fee
If you decide to cancel your insurance cover with Suncorp, you will no longer be charged a cancellation fee.
For full details, please refer to your PDS.
The information above is not a complete list of the changes to your Suncorp Motorcycle Insurance. For full details of what is and isn’t covered, please read the Suncorp Motorcycle Insurance Product Disclosure Statement (PDS). Consider the PDS before making a decision about this insurance. The Target Market Determination is also available.