Introducing the new GIO Motorcycle Insurance Product Disclosure Statement (PDS) for policies renewing on or after 22 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 of changes that we have made to our GIO Motorcycle Insurance PDS.

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 (and some sections have new titles):

Summary of changes:

Important things to know upfront

Things we don’t cover

Additional cover that comes with your policy

Making a claim

Important things to know – our contract with you

For full details, please refer to your PDS.

The information above is not a complete list of the changes to GIO Motorcycle Insurance. For full details of what is and isn’t covered, please read the GIO Motorcycle Insurance Product Disclosure Statement (PDS) Consider the PDS before making a decision about this insurance.

EXTRA SUPPORT (new section in your PDS)

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.

YOUR RESPONSIBILITIES

We have updated the term 'take reasonable precautions’ with ‘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 for when you must contact GIO have been included in the PDS. For example, you must tell us as soon as possible if:

  • 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

You can now choose how to pay your excess, from the options we offer.

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.

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.

TRAILER COVER

Damage to a trailer is now covered when it becomes separated from your moving motorcycle.

HOW WE SETTLE YOUR CLAIM

We’ve made a range of changes to this section.

We have updated our settlement options including paying you the amount of the assessed quote if you choose not to accept the repair/replacement method and request a cash settlement.

Refer to this section of the PDS for 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.

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.

JOINT POLICYHOLDERS

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 GIO, you will no longer be charged a cancellation fee.