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MackaEvo2

Bike insurance

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I just have it insured with the house contents. That covers it when its travelling or being used unless its in a race - racing is not covered. That includes air travel. They did say that I need to make sure its safe, ie, don't leave it unsecured and unattended etc.

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I have my old road bike insured with the house contents but it's only insured as a portable item and in Australia. Not insured for racing and not insured on any travel outside of Oz. My TT is insured with Velosure. Haven't had to make a claim, so can't say how good/bad they are...

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2 hours ago, BogFrog said:

I have my old road bike insured with the house contents but it's only insured as a portable item and in Australia. Not insured for racing and not insured on any travel outside of Oz. My TT is insured with Velosure. Haven't had to make a claim, so can't say how good/bad they are...

Ditto.  But it's my dualie thats insured with Velosure.  Gives better coverage for more possibilities, with a lower excess, and won't affect any NCB on your cntents policy.  Covers outside Aus and racing. 

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My TT bike and road bike are listed on my house insurance, SGIO, as portable sporting goods. Not covered for racing or outside Australia.

My road bike was stolen  while locked up at a park while I went for a run and it is being replaced by the insurance company.  They are being really good about it. The bike I want is more expensive so I can pay the difference between the insured value and the new bike cost.

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25 minutes ago, MackaEvo2 said:

I will need to go with specific bike insurance.
Does anyone know if the bikes are covered if stolen from the roof racks?

Velosure will cover from a rack - if its locked with one of their approved locks. 

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CycleCover will cover all your bikes for racing and travelling, theft from racks etc. with no limit and no need to declare them individually. They can also do your home contents as well. Never had to claim but pretty happy with the level of cover for the cost. 

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Both my bikes are with Bike sure, covered for racing and any other riding both domestically  and internationally, covered for theft both from house and outside when out and about.  I pay just under $50 a month for both.  Never had to make a claim so not sure how well they perform in that scenario

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Why does one need to insure your bike. 28 years and no issues so far.

I don't leave my bike in stupid places or do stupid things. If it gets stolen it's only going to be from my house and it will be inside a cupboard.

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On ‎28‎/‎01‎/‎2018 at 4:46 PM, MackaEvo2 said:

I will need to go with specific bike insurance.
Does anyone know if the bikes are covered if stolen from the roof racks?

I never leave my bike on my roof and out of site..... however....I I was too I have a lockable bike rack.

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1 hour ago, IronmanFoz said:

Why does one need to insure your bike. 28 years and no issues so far.

I don't leave my bike in stupid places or do stupid things. If it gets stolen it's only going to be from my house and it will be inside a cupboard.

Some of us venture outside the cupboard?

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So do I but I still don't get why you would insure your bike. I reckon my bike gets a lot more use than most.

 

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1 hour ago, IronmanFoz said:

So do I but I still don't get why you would insure your bike. I reckon my bike gets a lot more use than most.

 

I suppose it's like any insurance.  For me it's about weighing up:

Cost of the bike, and cost to replace

My need to replace it for something as good

Risk of damage while in use - and what sort of damage

Risk of theft during travel and racing

Risk of damage/loss during airline travel (they will only cover up to a certain amount)

Cost of policy. 

 

I don't do stupid things with my house either - but I have it insured.  Same thing with my cars.   Health on the other hand........... lets just say my private insurance is well worth it 

 

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7 hours ago, IronmanFoz said:

Why does one need to insure your bike. 28 years and no issues so far.

I don't leave my bike in stupid places or do stupid things. If it gets stolen it's only going to be from my house and it will be inside a cupboard.

Do you ride a Giant..?

Look at Facebook at the number of bikes stolen from secure garages/lockers etc. would yours be covered? If on a h&c policy probably only up $1k (which would probably buy you 2 more Giants so you'd be okay).

Damage your bike in a crash (noone else involved) and how do you replace your bike?

In a race? Only a specialised policy will cover it..?

 

 

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H&C Policy specifying the value of the bike is generally cheaper than specific bike policies but you aren't covered for racing or overseas travel.

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13 hours ago, pieman said:

Do you ride a Giant..?

Look at Facebook at the number of bikes stolen from secure garages/lockers etc. would yours be covered? If on a h&c policy probably only up $1k (which would probably buy you 2 more Giants so you'd be okay).

Damage your bike in a crash (noone else involved) and how do you replace your bike?

In a race? Only a specialised policy will cover it..?

 

 

Do you ride a Giant..? Not normally but just bought a spare TT (Giant Trinity SL0 bike - which I have never sat on yet so yes)

Look at Facebook at the number of bikes stolen from secure garages/lockers etc. would yours be covered? The ones I see stolen are often in visible places or secured storage. Give someone an incentive an d they go for it. Like leaving your wallet or phone visible in the car....- incentive = theft!

Damage your bike in a crash (noone else involved) and how do you replace your bike? I don't crash....yet!

In a race? Only a specialised policy will cover it..? Bikes are pretty resilient - would have to be a big big bingle.

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14 hours ago, Ironnerd said:

It is also worth considering for the 3rd party insurance aspect.

Usually 3rd party is covered under home contents. Also if you are a member of TA or CA or even the state bike association you will be covered for 3rd party.

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