Bike insurance

sm0241 said:

Just wondering if anyone on here has their bike insured or even if such a thing exists ?
I've heard of it before but never actually spoke to anyone that's actually done it.
Thanks,
Steve

Either get a generous home and contents policy, or try these guys:
cyclecover.com.aucyclecover.com.auOpen ↗

They're the only two ways I know of.

n

nerdag said:

Either get a generous home and contents policy, or try these guys:
cyclecover.com.aucyclecover.com.auOpen ↗

They're the only two ways I know of.

Cyclecover also provides coverage for all your bikes anywhere in the world, including theft and accidental damage - I don't think any/many contents policies match that cover! The downside of Cyclecover is that you must insure your contents with them, ie it is not just for bikes. It may be a bit more expensive than "regular" contents cover, but by the time you add bikes as specified items (and even then they're generally still only covered for theft from your house) it is worth it IMO.

I'm have my bike added onto my home contents insurance with SGIO in WA and they cover theft anywhere in Australia (might even have been Oz and NZ). You just have to nominate the bike as a specifically covered item (you pay a few bucks extra per year). I would have thought that most home&contents insurers would do that.

Where SGIO miss out is by failing to offer insurance against damage (either to third parties, like hitting a car (rider's fault) or to your own bike (solo crash). I suggested to them that they should just extend my comprehensive car insurance to do it, but they didn't want to know.

Do any of the other big insurers offer such a thing? (I mean the main players in the home and car insuarance markets, not the bike-specific specialists.)

scirocco said:

I'm have my bike added onto my home contents insurance with SGIO in WA and they cover theft anywhere in Australia (might even have been Oz and NZ). You just have to nominate the bike as a specifically covered item (you pay a few bucks extra per year). I would have thought that most home&contents insurers would do that.

Where SGIO miss out is by failing to offer insurance against damage (either to third parties, like hitting a car (rider's fault) or to your own bike (solo crash). I suggested to them that they should just extend my comprehensive car insurance to do it, but they didn't want to know.

Do any of the other big insurers offer such a thing? (I mean the main players in the home and car insuarance markets, not the bike-specific specialists.)

cyclecover I believe is underwritten by QBE, so effectively, they are a big insurer.
All I know is, when I crashed (trashed) by Madone 5.2 SL when I'd only had it for about 6 weeks, they covered it, and replaced the frame with a new one. For me, a few extra bucks on my contents insurance was well worth it.

HobartDave said:

cyclecover I believe is underwritten by QBE, so effectively, they are a big insurer.
All I know is, when I crashed (trashed) by Madone 5.2 SL when I'd only had it for about 6 weeks, they covered it, and replaced the frame with a new one. For me, a few extra bucks on my contents insurance was well worth it.

Ok, thanks. I guess I just would prefer not to have to deal with multiple companies. It would be nice to have everything, home, car, bike under the one company.

And I was slightly wrong about what I posted earlier. Contents insurance with the bike added on does cover damage - so if you crash the bike and it's your fault they will pay up to repair/replace the bike. The only thing that is missing is any third party damage - so if you crash into the back of a car and wipe out the rear screen/damage panels etc. the owner's insurance company will still come after you.

scirocco said:

The only thing that is missing is any third party damage - so if you crash into the back of a car and wipe out the rear screen/damage panels etc. the owner's insurance company will still come after you.

Not sure if Cyclecover will cover that either - that is usually only covered if you have membership of a state cycling organisation such as BNSW or BV.

Cyclecover offer the third party insurance through BNSW - can't remember who BV offer theirs through.

n

I have had bikes insured under home and contents and have had one replaced when I was broken into.

My current insurance covers both road and mountain bike at all times except when racing, thats through WFI.

nerdag said:

Not sure if Cyclecover will cover that either - that is usually only covered if you have membership of a state cycling organisation such as BNSW or BV.

Cyclecover offer the third party insurance through BNSW - can't remember who BV offer theirs through.

n

BNSW membership (or similar) is probably the best 3rd party liability cover we can get. It's condition is broadest, covering all cycling activities (except racing I think) including recumbents.