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Im now 10 sleeps away (yes yes Im excited) from picking up my bike that I have saved for during the last 6 months (and my Krudd bonus)... and it will be probably the most expensive thing Ive ever saved for and bought with cash...

 

But its just occured to me that I probably need to think about making sure its inusured... and probably myself as well!

 

Right now I have a TA membership but no private health insurance or insurance for my bike. Until now Ive been riding an entry level Trek that Ive had for the past 5 years. Ive ridden off and on but recently riding more on roads and areas that mean i probably need to know Im covered... just in case!

 

If anything was to happen to the new bike... well it would take a seriously LONG time to save up to replace it all over again so i would like to know everything would be ok just in case.

 

I started looking around at all the insurance options and now Im more confused than ever.

 

Can anyone explain to me what I actually need? And where I should be looking?

 

Im so very very confused! :lol:

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Im now 10 sleeps away (yes yes Im excited) from picking up my bike that I have saved for during the last 6 months (and my Krudd bonus)... and it will be probably the most expensive thing Ive ever saved for and bought with cash...

 

But its just occured to me that I probably need to think about making sure its inusured... and probably myself as well!

 

Right now I have a TA membership but no private health insurance or insurance for my bike. Until now Ive been riding an entry level Trek that Ive had for the past 5 years. Ive ridden off and on but recently riding more on roads and areas that mean i probably need to know Im covered... just in case!

 

If anything was to happen to the new bike... well it would take a seriously LONG time to save up to replace it all over again so i would like to know everything would be ok just in case.

 

I started looking around at all the insurance options and now Im more confused than ever.

 

Can anyone explain to me what I actually need? And where I should be looking?

 

Im so very very confused! :lol:

 

I have mine insured through AAMI on my house and contents policy. Can't exactly remember the cost but it is a lot less than having to replace a stolen or damaged bike.

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The problem is that most house and content policies will only cover the bike if it is at home, not training, competing or just travelling.

 

Check out velosure.com.au and there are a couple more companies out there which I dont remember the names.

 

Good luck and enjoy the bike.

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The problem is that most house and content policies will only cover the bike if it is at home, not training, competing or just travelling.

 

Check out velosure.com.au and there are a couple more companies out there which I dont remember the names.

 

Good luck and enjoy the bike.

 

Mine is covered away from the home, training or competing. It was cheaper than one of the companies that advertises for cycle insurance but I can't remeber the name.

 

Seriously worth the investment in insurance though. I wouldn't drive a 4 - 5 grand car without having it insured.

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I have mine insured through AAMI on my house and contents policy. Can't exactly remember the cost but it is a lot less than having to replace a stolen or damaged bike.

 

 

The problem is that most house and content policies will only cover the bike if it is at home

 

 

I have my bike insured as a specified extra on my home insurance (AAMI). It is definitely covered for loss and theft, but I am not sure about accidents (I have an inkling that it is covered for damage, but not during racing- my engagement ring is also on the same cover and I know it's covered for damage so I am going to assume it's the same). I costs an extra $31 a year (total insured value is $2000, but you can choose how much or little you want to insure it for)

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I added my bike to my house and contents with RACQ. Covered while training, but not racing. Costs about $150 a year, but the insured amount is high.

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surely if you crashed whilst racing you would tell them you crashed while you were training.. If this was a problem

 

i have a expensive watch and all my bikes through home insuance... am covered for anything any time

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Ive got my bike insured through my home and contents insurance as a specified item and by the way i read it, the bike is covered for accidents away from the home.

 

Has anyone actually claimed and what were your experiences with the insurance companies? Damage Did it take long for the processing, quotes and settlement?

 

under the clause for Specified Contents or Specific Personal Effects it reads

If you have a claim for specified contents or specified personal effects, you must show us a valuation less than 3 years old, a receipt, or other proof of purchase which verifies their insured value.

 

Who can give me a valuation for my bike so I dont have to take my bike into the shop.

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Wow just reading this stuff is making my head hurt :lol:

 

I think perhaps I have a productive work day calling insurance companies trying to understand my options ahead of me...

 

eek! Thanks for the tips... cant say I really understand it all but Im going to try my best!

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Same as others above re adding to home and contents but we used QBE. We have a claim outstanding with them which we expect settlement on any time in the next few weeks. Otter will be getting some visitors!!!!

 

From memory QBE cover both training and racing but ring to be sure.

 

Shot'is and Winky.

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yes, our also covered on our home & contents insurance with BudgetDirect. We have them listed as special items. Covers theft/damage at home and away, but not a race accident from memory.

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In the interests of presenting all options you could find a broker to help you and it doesn't always cost any more than phoning direct. They should be able to clarify what you are and aren't covered for and also help you in the event of a claim. If they don't/can't then they are not doing their job.

 

You should be able to get cover for everything except racing. And training on a velodrome probably won't be covered either.

Normal contents should get you covered in Aus & NZ, specified the rest of the world if not it's a crap policy. Also you might want to check amounts they will pay as sometimes it is only up to a set amount which doesn't always cover some top of the line bikes. Finally you could get your broker or insuree to have the bike listed under specified for a trip overseas, then if you are not planning any other tips, get it removed when you get back and get some money back.

 

Also i hear that if you are racing and have an accident and you go to claim for it stating that you weren't racing, it might be a thought that you might want to check you are not listed on any entry forms/result sheets/accident/ambulance reports as having been in a racing event on the day of your accident cause then you may be up for more than just a bike repair/replacement bill.

 

Cheers and good luck, my suggestion is try a broker, proviso you can find a good one.

Edited by Oncewas

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mine is covered through cyclecover(QBE) i think it added about $180 above my old insurance , it is covered for travel ,racing, they were very easy to deal with.

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mine is covered through cyclecover(QBE) i think it added about $180 above my old insurance , it is covered for travel ,racing, they were very easy to deal with.

 

Pies, interesting cover that one, you don't happen to have a copy of the policy wording for the "optional racing cover" you must of taken out if you are covered for racing do you?

 

Ps: I hope you put a bike lock on your bike when your not using it.

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Pies, interesting cover that one, you don't happen to have a copy of the policy wording for the "optional racing cover" you must of taken out if you are covered for racing do you?

 

Ps: I hope you put a bike lock on your bike when your not using it.

Oncewas, have just checked policy states racing cover ,covered anytime in aus & nz & up to 90 days a year worldwide, you sound cynical do you have experience with this policy

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Oncewas, have just checked policy states racing cover ,covered anytime in aus & nz & up to 90 days a year worldwide, you sound cynical do you have experience with this policy

 

I guess i am a cycnical person, and often wrong too! :lol:

 

However, No mate, i dont doubt it does cover those things, most decent household contents policy's do, i am just interested in these type of policies, i searched the website and couldn't find the policy wording that covers the optional racing coverage which does not come with the standard policy, that's all. The policy says to refer to the optional wording for details but i can't find it.

 

Cause it does sound a pretty good policy, purely out of interest i briefly read the policy wording and it does not have the information regarding racing coverage, and given you stated you have taken the policy out i assume you have the policy wording for the racing coverage.

 

The other bike lock comment was regarding a clause in the policy which as i read it that states if you bike is not locked when it is in storage, eg: your garage, it is not covered.

 

If you have the wording or know where i can find it i would be genuinely interested.

 

Cheers

Edited by Oncewas

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Join bikeNSW to get the $20m public liability cover in case you hit someone.

 

Velosure seem to have a good policy and the quote I had was for around $230 for $3500 cover. Included racing, training and pretty much everything else. The ONLY thing that stopped me getting their policy was a clause that says they don't cover you if the bike is in the car and it can be accessed by breaking a window. As I drive a Forester, this means the bike isn't covered if it's in the car - would be the same for any 4WD.

 

Insurance - it sucks right up until you need it :lol:

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I guess i am a cycnical person, and often wrong too! :lol:

 

However, No mate, i dont doubt it does cover those things, most decent household contents policy's do, i am just interested in these type of policies, i searched the website and couldn't find the policy wording that covers the optional racing coverage which does not come with the standard policy, that's all. The policy says to refer to the optional wording for details but i can't find it.

 

Cause it does sound a pretty good policy, purely out of interest i briefly read the policy wording and it does not have the information regarding racing coverage, and given you stated you have taken the policy out i assume you have the policy wording for the racing coverage.

 

The other bike lock comment was regarding a clause in the policy which as i read it that states if you bike is not locked when it is in storage, eg: your garage, it is not covered.

 

If you have the wording or know where i can find it i would be genuinely interested.

 

Cheers

Oncewas cyclecover 1300 733 055 real easy to deal with and very helpful . not sure about bike lock will keep it in mind if it ever gets nicked

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Oncewas cyclecover 1300 733 055 real easy to deal with and very helpful . not sure about bike lock will keep it in mind if it ever gets nicked

 

aaah fk. it who cares like talking to a brick wall, bit like taking out insurance over the phone

Edited by Oncewas

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