ING launches new Motorcycle Insurance and reveals the mindful benefits of motorcycle riding
Motorcyclists are 27% happier than the average motorist, new research from ING reveals.
The study has uncovered the therapeutic benefits of motorcycle riding, with eight in 10 (82%) motorcycle riders agreeing riding makes them happy, compared to only half (55%) of motorists.
More than half (51%) of motorcycle riders surveyed said the positive mental health effects of riding was the top reason for them choosing the biker lifestyle.
The release of the research coincides with ING’s new Motorcycle Insurance. ING’s Head of Wealth, Cathy Duncan said: “The research indicates that riding a motorcycle could be providing many with some of the same benefits of practices like yoga and meditation.”
Almost half (48%) of the motorcycling respondents say riding a motorcycle is a form of mindfulness that helps them de-stress , 41% say they love the sense of freedom that comes with riding and more than a third (34%) enjoy the fresh air and taking in nature.
The research found that Aussie motorcycle riders aren’t only benefitting mentally from their practice, they’re also saving time and money. More than one in three (36%) motorcycle riders say they love riding for: the convenience of getting around, the ease of finding a parking spot (35%) and saving money (34%).
These practical perks are proving an attractive recipe for Aussies that commute to work each day, who say they started biking because it helps them avoid busy public transport (26%) and is a quicker commute (27%). Even non- motorcycle riders can see the commuting benefits amid COVID-19, with a fifth (18%) considering riding a motorcycle as an easy way to get around and almost one in 10 (9%) believe it is a way to escape busy routes to work.
“The research suggests the pandemic has many reassessing their daily commute and how they get around. With price and convenience benefits along with mental health and wellbeing perks, why wouldn’t you consider it!” says ING’s Cathy Duncan.
The ING Highway Happiness survey also revealed:
- Family, friendship and community: When asked why motorcyclists got into riding, many did so because of their friends or family (35%), with a quarter vowing to keep “biking” a family tradition (24%) and teach their kids how to ride (26%). What’s more, riders want to share their joy of riding with friends or their partner (43%).
- Getting into gear: Motorcycle riders consider their riding gear their ‘second skin’ (36%) that gives them confidence on the road (47%). As many as 60% say their gear and leathers is more important than other personal belongings like their car, computer, phone, watch or wedding ring.
- Parking pains: More than half of Aussie motorists (40%) find it hard or stressful to find parking, compared to just over a quarter (23%) of motorcyclists who often park with ease.
- Top 5 Aussie motorcylcing routes: 1. The Great Ocean Road (VIC) 2. Kangaroo Valley Southern Highlands (NSW) 3. Adelaide Hills (SA), 4. The open roads of Tasmania (TAS) 5. Palm Beach (NSW)
For more information about ING’s new Motorcycle insurance, head to ing.com.au/insurance/motorcycle-insurance.html.
-ENDS-
Notes to editors
This research was commissioned by ING and conducted by YouGov in August 2020. The sample comprises 1,006 Australians aged 18+ years distributed throughout Australia.
Source: YouGov
For more information contact Megan Landauro on 0413 317 225 or megan.landauro@ing.com.au
About ING
ING changed the way Australians bank 20 years ago by launching the country’s first branchless bank. ING now offers Australians award winning home loans, transactional banking, superannuation, credit cards, personal lending, insurance and wholesale banking services.
ING is Australia’s most recommended bank according to RFi XPRT Survey October 19 – April 20 (n = 3839) when compared to customers of 20 other banks operating in Australia. It is also Australia’s fifth largest main financial institution with 6% of market share according to RFi XPRT Survey, January – June 2020 (n=31,562).
ING Bank (Australia) Limited ABN 24000893292 AFSL and Australian Credit Licence 229823. Information in this media release is general information only and we have not taken your financial circumstances, objectives, needs or requirements into consideration.
About ING Motorcycle Insurance
ING Motorcycle Insurance is issued by Auto & General Insurance Company Ltd ABN 42 111 586 353 AFSL 285571 as insurer. It is distributed by Auto & General Services Pty Ltd ABN 61 003 617 909 AFSL 241411 (AGS) and by ING Bank (Australia) Ltd ABN 24 000 893 292 as Authorised Representative 1247634 of AGS. ING is a business name of ING Bank (Australia) Ltd (ING).
Any policy issued does not represent a deposit with or liability of, and is not guaranteed or otherwise supported by, ING or its related bodies corporate. ING will receive a commission from AGS for each policy purchased which is a percentage of the base premium. For further details see the Financial Services Guide.
ING Motorcycle Insurance is subject to AGS’ underwriting and ING’s Customer Eligibility and Name-Screening Assessment. For Motorcycle Insurance, vehicle details are checked against information available through Glass’s Guide.
This is general information only, and does not take into account your particular objectives, financial situation or needs. You should read the relevant Product Disclosure Statement, Financial Services Guide and the ING Customer Eligibility and Name-Screening document available at ing.com.au, and consider if an ING Motorcycle Insurance product is right for you before deciding to purchase or continue to hold the product.
The price we quote is at the insurer’s sole and unrestricted discretion. It is based on the profile of the risk to be covered and any other factors the insurer may choose. These factors may change at any time without notice, as may the prices. If the policy renews, the price may exceed the price paid for the previous policy. Base premiums are subject to change. You will be responsible for all applicable GST and other statutory charges.