Insurance

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Insurance

Postby KonaCommuter » Thu Dec 01, 2011 8:47 pm

Very sorry if this has been covered in other posts, but I seriously did use the search function but got frustrated.





I’m primarily a commuter in Queensland. It’s not a long commute at approx 6km. I’ve been run off the road once but I learn quick and I now avoid that bottle neck. I’d put my skill level at poor.

I’m commuting on a Kona Hard tail with knobelly tires and average just over 19km/hr. I’m a conservative commuter in that I cut through (walk it) a train station to avoid a high risk area, I ride on the footpath (at a slowish pace) where I feel the road is risky and the footpath a urban wasteland. So all in all I’m conservative blue collar factory worker. I don’t wear Lyrca so I’m not on any bogan radar. Hell, my commuting gear is a factory high vis gear. Yeah, I’m probably not a BNA poster child


That out of the way. This is my concern. Insurance. I’m worried about accidents and their costs. Sure as a QLD Commuter I’d be covered by workcover. But I’m enjoying my commute so much I’m very tempted to go the long way home. And I’m loving my commute so much that when my rego is due on my shipbox Excel I’m going to scrap it. So I’m concerned that if I hit a pedestrian or a Ferrari I’ll be fooked. >>> Disclaimer I have nothing of real value to sue for <<<<< I’m also worried about income should I be injured whilst riding.


I looked at the cycling insurance but <language> swinging. $1k Excess?? My bike cost that! May as well say that car excess is $30k.


I have income insurance through my Super but is that good enough?


Thanks a million in advance


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by BNA » Fri Dec 02, 2011 5:52 am

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Re: Insurance

Postby Oxford » Fri Dec 02, 2011 5:52 am

do you have home and contents insurance? get your policy document out and have a read through it, you'll find you'll likely be covered for 3rd party damage you cause to other persons property even away from home and while riding your bike. do a search for a similar post from me about insurance about 3 weeks ago, I quoted my policy document, most are the same. if you do not have home and contents insurance, get some.

you could also consider joining a bicycle advocacy group to get some specific insurance. I'm not going to recommend any particular state organisation as I have issues with their political affiliations and/or what I perceive as a lack of real backing for cycling initiatives.

good luck, also be aware that if you take exceptionally long detours going home that are not justifiable for safety reasons, you may not be covered by Workcover.

with your super income protection, check the waiting period applicable (probably 30 days or one month) and remember the maximum legal period of cover is two years. after that you need personal cover or you go off claim.

<edit> found the other post, we his it in a number plate thread for you. :mrgreen:

viewtopic.php?f=12&t=45538&p=693957&hilit=insurance#p693702
I could agree with you, but then we would both be wrong.
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Re: Insurance

Postby Aushiker » Fri Dec 02, 2011 10:00 am

Oxford wrote:do you have home and contents insurance? get your policy document out and have a read through it, you'll find you'll likely be covered for 3rd party damage you cause to other persons property even away from home and while riding your bike. do a search for a similar post from me about insurance about 3 weeks ago, I quoted my policy document, most are the same. if you do not have home and contents insurance, get some.


You can get specific bicycle insurance but the excess/premiums can be rather high, but there are also home contents policies that cover bicycles without getting into specifying them etc. That said I would probably go with Oxford's advice in your situation but make sure you covered for third party when you are using the bike .... sounds silly but a lot of policies do not provide cover when in use. This may just apply to theft/damage only or it may apply wider. I would read the PDS carefully.

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Re: Insurance

Postby KonaCommuter » Fri Dec 02, 2011 4:43 pm

Thanks for pointing me in the right direction. As I said, I had done a search and it was more than just a cursory one at that, but licence plate thread was not one I’d peered into.


Thanks again


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Re: Insurance

Postby Lizzy » Fri Dec 02, 2011 6:09 pm

Hmm, I hadn't known that about third party property damage cover in home & contents policies, will have to drag mine out and have a look :idea:

That said I did join a bicycle advocacy group for this same reason after reading some horror story or other about cyclists being sued by drivers of cars that hit them and getting the cold sweats (I'm pretty much exactly the same type of commuter as you). That policy does have a $1k excess as well which is also quite a lot more than the cost of my bike, but peanuts compared to what a third party could potentially try to sting you for for repairs to their Merc, etc or worse, injury you cause someone else.

Another thing to do is ask your employer if they provide journey insurance covering personal accident en route to or from work. I checked and the policy at my work does include cycle commuting, costs me some insignificant payroll deduction and provides a level of income protection / compensation - if you work for a bigger company its something they might consider or already have.
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Re: Insurance

Postby KonaCommuter » Sat Dec 03, 2011 5:14 pm

Aushiker wrote:You can get specific bicycle insurance but the excess/premiums can be rather high, but there are also home contents policies that cover bicycles without getting into specifying them etc. That said I would probably go with Oxford's advice in your situation but make sure you covered for third party when you are using the bike .... sounds silly but a lot of policies do not provide cover when in use. This may just apply to theft/damage only or it may apply wider. I would read the PDS carefully.

Andrew




I’ve been going over a number of PDS’ and you certainly have to read them carefully to ensure that you get exactly what you are after. Some sound like they are providing the cover until you actually read it carefully
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