Bike Insurance

[merc-blue]

Hi guys,
I'm about to be getting a nice new DH bike which is more valuable than my car, so I'm looking at getting it insured, mostly just against theft.
I'm not sure what the deal is as its kept in the garage, I think I can add it to my house/contents insurance as a specific item but not sure if it counts if stolen from the garage, which is attached but not accessible from the house.
But i want to explore some other bike specific insurance options, does anyone have bikes insured and had to make a claim? how did they go paying out? etc.

any products to recommend?

The bike is kept in a locked garage, with a motorcycle chain/lock around it and bolted to the wall.. so its reasonably secure. that said if you REALLY wanted to steal it, it would be possible.

 

[Jaydawgz]

Heard of the search button?

 

[coarselanguagw]

The only advice I can give is to take a photo of the bike stored in the garage with the chain around it and locked. This way if you ever do need to make a claim, you'll have photographic proof of how the bike was stored (i.e. securely)

 

[merc-blue]

I did search there isnt really a current and relevant thread.

 

[Jaydawgz]

I asked this a couple of weeks ago.

I'm still not set though. And I think that specified bike insurance companies, you have to over 18 and I'm only 16 :/

 

[T-Rex]

Don't know why you couldn't find something on this when you searched, I reckon this is the most commonly asked question after "what length spokes should I buy". Someone should do a sticky on this. (Mods??)

The best bang for your buck bike insurance is to get the bike added as a specified item on your contents insurance. This will cover it for getting pinched at home or at a race, and also from getting damaged if it's on the back of your car and you get rear ended. It is considerably less expensive than bike specific insurance. EG a $6.5k DH bike costs us an extra $66 per year to insure with NRMA as part of our contents insurance, vs $250 with Velo. And you have the benefit of dealing with a decent sized insurance company with a reputation of coughing up when you claim. VTSS350 has a happy insurance story (I think with AAMI??) when he got a stack of bikes knocked off out of his garage, do a search on his posts.

 

[indica]

Add to home and contents unless you are a keen racer.
Mine is covered for everything up to and including Charity Races (not professional), any damage anywhere including crash damage.
Yes I have claimed, yes it went well. Fork damage (cracks) from riding, roof rack damage also.
Read you H & C policy before doing it but it is generally a lot cheaper then a specialist.

 

[Nads001]

definently go through home and contents i just claimed my cracked frame ( damage done on the trail ) and got a cheque in the mail no problems there are plenty of policies that will include bikes for no extra cost

 

[dunndog]

Yep your home and contents policy is the way to go, added as a special item. i asked a million questions (well about 5) to our insurer about this and it is covered no matter where or how it gets damaged/destroyed/lost/stolen/other, and as long as your shed is on your property it's fine. and the extra cost to the policy was zero.
no need to take out a bike specific policy unless you want to pay another premium you don't need to.

 

[sushi]

Between my son and I we have 7 bikes and have them all insured as specified items with NRMA under our home contents policy, pay an extra $9 a month for all of them to be covered for the purchase price.

Had a bike stolen from my front yard, it was not locked as I walked in the house for like 5 mins to get something, claimed and they sent me a chq made out to the bike store of my choice, (took about 10 days) they didnt care that it was not locked just had to prove purchase.