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Discussion Starter · #1 ·
Gday,

Im from Melbourne Australia and have just invested in a new bike. Just wondering about the best way to insure it. The bike retails for around 11k aussie dollars, but i bought it online for around 5.5k aussie.

What're peoples experiences with insurance? Are you able to insure bikes against crashes and a total write off?

Cheers.
 

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I know you don't have AAA ( covers towing , trip planning and auto discounts) in Australia but my wife paid an extra $5 on the plan about five years ago to cover my bike and bodily coverage in case of a crash. Well, a guy in the club took me out on a fast descent by hitting my bars as he passd. I used all $500 of coverage to fix my bike. That was a werll spent $5!
 

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Resident Curmudgeon
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For theft and comprehensive coverage e.g. fire, water damage, etc. you might be able to get coverage on your home owner's policy.
 

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Frog Whisperer
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Mr. Versatile said:
For theft and comprehensive coverage e.g. fire, water damage, etc. you might be able to get coverage on your home owner's policy.
Yup...that is why I skipped the "all risk" If I crash..it's my fault (for riding ).....if it's stolen..it's covered
 

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Not sure how things work in Australia, but the home owners path is probably worth checking out. Here in the states, my coverage is good for theft or damage done from a household disaster (e.g. fire, tornado, etc). It does not cover damage caused during racing or riding of any sort.
 

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I'm in the same boat as you at the moment. This is what I've found out so far.

Bicycle Victoria members can organise access 'CycleSafe Home Insurance' which includes bicycle insurance both inside & outside the home (but not while racing - this is an extra). No idea yet of the exact details, but there is a recent post discussing how good (or otherwise) it is in their forums.

Apart from that it appears that most of the insurance companies allow you to tack it onto your home contents as a listed item, but there are specific stipulations on what you can do with it (e.g. no racing) & where it must be stored (chained up if in the garage).

Bicycle Victoria's CycleSafe option looks the best so far, although I'm yet to organise a quote for the contents + bike insurance. On the BV forums it appears that the added cost to the insurance is ~$100.

Hope that helps :)

edit - just found the CycleSafe post in the BV forum. It's worth a read.
 

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Discussion Starter · #9 ·
portlester said:
I'm in the same boat as you at the moment. This is what I've found out so far.

Bicycle Victoria members can organise access 'CycleSafe Home Insurance' which includes bicycle insurance both inside & outside the home (but not while racing - this is an extra). No idea yet of the exact details, but there is a recent post discussing how good (or otherwise) it is in their forums.

Apart from that it appears that most of the insurance companies allow you to tack it onto your home contents as a listed item, but there are specific stipulations on what you can do with it (e.g. no racing) & where it must be stored (chained up if in the garage).

Bicycle Victoria's CycleSafe option looks the best so far, although I'm yet to organise a quote for the contents + bike insurance. On the BV forums it appears that the added cost to the insurance is ~$100.

Hope that helps :)

edit - just found the CycleSafe post in the BV forum. It's worth a read.
thanks heaps for that!

how did you end up going with it? which option did you go for?
 

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Bus wrestling roadie.
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My home/auto/motorcycle insurer told me to "Pi$$ off, and don't ask us again"! when I asked for a rider on my homeowner's policy.
Well... their exact words were "$1800 per year".
:eek:
 

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Use my Apps :)
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I've never had any insurance company offer any kind of reasonable coverage on bicycles. They won't cover them under homeowners nor do they offer anything competitive in the way of supplemental coverage. Statistically they see them as costly items, often left unattended or poorly secured, that are ripe for theft. We see them as prized possessions we'd like to protect. Realistically if your house is robbed and your bike is taken from inside your home you may have some standing but if it's boosted from outside Starbucks your screwed
 

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My insurance agent put a rider on our policy, I believe it was under our homeowners policy, it cost $10.00 a month and covers everything from a to z, including carbon frame damage 100% replacement.. Good peace of mind..
 

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Bus wrestling roadie.
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pgk said:
My insurance agent put a rider on our policy, I believe it was under our homeowners policy, it cost $10.00 a month and covers everything from a to z, including carbon frame damage 100% replacement.. Good peace of mind..
Could you tell us the name of the underwriting company?
I'd like to make a 'phone call...:D
 

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Bus wrestling roadie.
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pgk said:
Auto-Owners Insurance

Pete
Apparently, discrimination is alive and well in the insurance rackets.
They don't take Canadian money. :(
 

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State Farm quoted me $100/thousand = $800/year for a rider on my homeowners, so I decided to stick with the basic coverage on my homeowners policy
 
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