Bicycle insurance

mongoosemichael

mongoosemichael

Likes Dirt
Hi
I am looking into insurance for my mountain bike and there is so many choices. Is there any company's that i should avoid? I want full cover for theft, damage , injury and liability any recommendations?

Thanks :)
 
pink poodle

pink poodle

気が狂っている男
most home contents insurance will have some method for covering your bike (and other portable valuables) for theft etc. I have my bikes covered and have never regretted it! of course I have been the victim of bike theft 7 times thus far. from what i have seen most contents insurance wont cover the bike if you damage it while riding. so you may need to look at something specific for that.
 
The Duckmeister

The Duckmeister

Has a juicy midrange
Tying it in with H&C would probably be the cheapest option. It depends a bit on your policy, but you should be able to add clauses for specific items, such as the bike, so it's covered for accidental damage when off your property. I don't know how you'll go with liability & injury cover though.
 
The Duckmeister

The Duckmeister

Has a juicy midrange
mongoosemichael said:
Yeah but it will not give the full cover it only covers if it is stolen.
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Talk to your insurance company. Standard policy is for things to only be covered when on your premises, but you can specify things (such as bikes) as portable contents (or something similar) and have extra cover for those particular items when they're off-premises. That cover can include accidental damage. I've got all my bikes covered this way, although I'll have to check the theft cover - I think that's only if they're nicked from home.
 
Minlak

Minlak

custom titis
My home and contents would cover for theft only and only at the premise. Even as a named item the clause about their maximum liability payout away from home per item would not cover the bike fully. I got http://www.nrma.com.au/bicycle-insurance NRMA cycle insurance. As it was a new bike I could only cover what I paid which was 3k ( I can't replace for that but at least I'm not out of pocket) they cover theft anywhere damage even if racing excess is $300 and $500 if racing. They don't give income protection etc but I found the ones that offered that the premium was a lot higher and was cheaper to just get income insurance separate from another company.

The thing is ever home And contents will be different I won anyway as they gave me a $150 discount on my home and contents whilst discussing insurance options which is the premium I paid at NRMA :)
 
E

Exie

Likes Dirt
I was with Velosure for 2 years. They seemed pretty professional (not that I had to make a claim). I eventually dropped them on Yr3 as they determined my bike wasn't worth SFA despite keeping the same premium. They wouldnt do agreed value and seemed to have some fixed depreciation model that was like 30% per year or something.

Just my perception, but I got the sense they would be good if you had a Giant or something and changed the bike over every 2-3 years. If you forked out for a custom frame or something, they seemed to treat it like any other run of the mill bike.

I swapped over and added it to my H&C as a special item. It was a big increase (~800/yr) but covers theft away from home, agreed value.

Fortunately I still havent had to make a claim, I think thats where the rubber really hits the road and the insurance companies show their true colors when they have to pay up.
 
Minlak

Minlak

custom titis
ctguru said:
should be able to get it listed and changed on the policy

My $10K bike is covered for everything except crashing while racing for only and extra $180 per year!
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Every insurance company is different and it does seem the house and contents policies that allow it to be covered won't cover racing ( gross generalisation) and they seem fantastic value. Just make sure you get in writing exactly what you are covered for.

Mine won't but the policy on the house is stupid cheap so not changing for a while. :)
 
mongoosemichael

mongoosemichael

Likes Dirt
I desired to go with velosure in the end the main reason NRMA $200 standard excess + $300 if in a timed event + $500 for a carbon frame. $1000 excess is way to high.
 
Ky1e

Ky1e

Likes Bikes and Dirt
My $5k anthem is insured with Velosure for $25/month for any theft/crash/etc.. More than happy with that since I can't just go buy a new one at the drop of a hat..
 
Nautonier

Nautonier

Eats Squid
Velosure have great customer service and seem to have the most comprehensive bike specific coverage out of all the companies I've researched. I've read about numerous accounts of them paying up with no problems when shit goes bad. My coverage on house and contents (CGU) was shit (+expensive) and they kept buggering up my automatic payments, potentially rendering me 'uncovered'.
 
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