Bike insurance cover

[tuco]

In a previous thread lost somewhere in this forum a point came up about being rear ended while carrying bikes on a bike carrier.

I've made a call to my insurance company and the bikes wouldn't be covered under the car insurance but I could insure them as personal valuables under my home policy. Without listing them as personal valuables they're covered for theft from home only.
For $103 per year both bikes would be covered for accidental loss or damage. Damage meaning any damage excluding damage caused during racing.

Loss is good also. I've been wanting to ride to the local climbing hill, leave the bike locked up at the base and walk up and back but I've been worried about theft but loss covers that as well.

If anyone's heard of better deals I'm keen to hear them.

[mikesbytes]

What about if you hit someone else, does the $103 cover their damage?

What about if you injure someone else?

[moosterbounce]

I just looked into this whole thing too. Rang my local insurance dude and asked him about adding bikes as contents that was covered out of the home. No problem!! If I was riding a bike and fell off and buggered it (full carbon is great!!)? No chance!!

We have 6 bikes between my husband and I . 2 commuters, 2 racers, 2 mountain bikes. Goodness knows the total $$. But our immediate concern was to insure our racing bikes as both are full carbon - say $7k.

If I added these two bikes to our "specified contents" list which enabled them to be covered outside the home, but not in use, it added $600 to our policy!! Fell off my chair.

After many phone calls, and similar quotes, we decided on moving to CycleCover. They covered all our stuff (some things the other company wouldn't), when it was out of the house or accidentally damaged, or in use, or ooutside Aus, and they came in cheaper. I had heard stories that they were expensive, but not for us. Maybe we had reached critical mass?

By default, this also covers the other 4 bikes we have...including helmets, computers, spare tyre/tools, hrms etc.

I found the guy I spoke to to be really helpful - he even called me at 4.30pm WDST (so 6.30pm sydney time) to answer the questions I had emailed him (yes, there were heaps!!). I liked this.

Not sure if this will help in your situation Tuco, but worth investigating.

My LBS dude just lost his $8000 bike after being hit by a car. Luckily the car stopped so it will be covered under that insurance, else he was going to be severely out of pocket. As he was hit, he was pushed into his riding group so 4 bikes were totalled. About $20k... Insurance is starting to be a necessity.

Moo...

[tuco]

What about if you hit someone else, does the $103 cover their damage?

What about if you injure someone else?

I'm not worried about that. I was only concerned about the bike being damaged while on the back of the car or stolen.

Of all the 100,000's of cyclists how many would have that sort of comprehensive insurance?

[Bnej]

The Bicycle NSW membership insurance covers 3rd party liability and personal injury and that's only like $80/year. And you get a magazine 6 times too!