Do i need insurance?
-
- Posts: 141
- Joined: Mon Jun 29, 2009 10:34 pm
Do i need insurance?
Postby Rider123 » Tue May 03, 2011 8:49 pm
I know in the criteriums it can be very fast around corners and i would hate to be taken down in a crash. From other people's experience, a high-speed crash either whilst around a corner or from touching wheels; would that cause massive damage to a CF road bike (i.e. frame cracked in half, broken wheels...)
I was just wondering whether any other 'racers' currently have insurance and whether they believe it is worth it.
- novice
- Posts: 597
- Joined: Sat Apr 10, 2010 5:03 pm
- Location: Longford, TAS
Re: Do i need insurance?
Postby novice » Tue May 03, 2011 9:01 pm
Reality is that no insurance is worth the money if they don't pay on claims.
Sorry, that was a bit off topic.
I do not race but have an expensive carbon bike and felt the need to insure it at least for the first two years to protect the investment.
Found velosure was the simplest solution for me as they cover almost all risk including racing.
Scott CR1 Pro 2011
Avanti Scratch 2.0 29er set up for road use.
- limetang
- Posts: 401
- Joined: Fri Mar 19, 2010 2:27 pm
- Location: Woodcroft - SA
Re: Do i need insurance?
Postby limetang » Tue May 03, 2011 9:37 pm
If no, go insurance.... Im with Velosure also, my bike isnt as expensive as some here but I certainly dont have 2.5k sitting around to replace it if i crash!
- gururug
- Posts: 1531
- Joined: Fri Jan 26, 2007 12:05 am
Re: Do i need insurance?
Postby gururug » Tue May 03, 2011 9:53 pm
As with any policy...choose your insurer wisely.....reputation over value.
-
- Posts: 262
- Joined: Wed May 26, 2010 1:07 am
Re: Do i need insurance?
Postby stang1 » Tue May 03, 2011 10:15 pm
Re: Do i need insurance?
Postby Funkymonk » Tue May 03, 2011 11:24 pm
-
- Posts: 231
- Joined: Mon Nov 30, 2009 8:49 pm
- Location: Land of the Young and Free
Do i need insurance?
Postby bomber » Wed May 04, 2011 7:57 am
Based on that I have saved $1400 in the last two years. Each to their own I guess.
- JV911
- Posts: 5458
- Joined: Mon Sep 01, 2008 1:22 pm
- Location: Sydney, Australia
Re: Do i need insurance?
Postby JV911 » Wed May 04, 2011 9:18 am
fixed it for youRider123 wrote:From other people's experience, a high-speed crash either whilst around a corner or from touching wheels; would that cause massive damage to any road bike (i.e. frame cracked in half, broken wheels...)
not to mention broken collar bones, ribs etc
- aeroslave
- Posts: 1783
- Joined: Sun Nov 09, 2008 1:04 am
Re: Do i need insurance?
Postby aeroslave » Wed May 04, 2011 1:55 pm
- skull
- Posts: 2087
- Joined: Thu Oct 11, 2007 9:48 pm
Re: Do i need insurance?
Postby skull » Wed May 04, 2011 6:29 pm
What happens when you damage something else, I also believe there is cover for personal injury in some of the policies.bomber wrote: Based on that I have saved $1400 in the last two years. Each to their own I guess.
Protection for your bicycle
* Accidental / crash damage whilst in use
* Accidental / crash damage whilst racing
* Theft from your home
* Theft away from your home
* Loss or damage in transit – roof racks, airplane, bus, train etc
Protection for you
Up to $10,000 for death or disability or up to $1,000 towards non Medicare expenses such as dental, private hospital, ambulance, physiotherapy etc.
Optional extras
* Bicycle accessories (extra wheels, HRM etc) cover whilst in use
* International cover
- sogood
- Posts: 17168
- Joined: Thu Aug 31, 2006 7:31 am
- Location: Sydney AU
Re: Do i need insurance?
Postby sogood » Wed May 04, 2011 7:05 pm
1) If you can't afford to replace it, then don't ride/race it.
2) I have never come across any one who has made use of their 3rd party cycling insurance policy.
3) I have never come across any one who has made use of their cycling insurance for medical treatments or income loss.
4) Some bike companies have a generous race/crash replacement policy eg. Cannondale.
Of course, never say never. But from my perspective, the main use of insurance is for theft and/or crash damages and one needs to chose wisely so as not to hand free money to the insurance brokers.
RK wrote:And that is Wikipedia - I can write my own definition.
- gururug
- Posts: 1531
- Joined: Fri Jan 26, 2007 12:05 am
Re: Do i need insurance?
Postby gururug » Wed May 04, 2011 7:33 pm
True..... I remember a kid who I played football with that tried to access the players "insurance" and it was a royal pain.sogood wrote: 2) I have never come across any one who has made use of their 3rd party cycling insurance policy.
3) I have never come across any one who has made use of their cycling insurance for medical treatments or income loss.
I believe the idea is to put so many hoops for you to jump through that it's just not worth it for all but the most serious cases and even then there are limits to how much they will do.
Would be good to hear from anyone who has accessed such services from an insurer ( income support / medical expenses ).
-
- Posts: 985
- Joined: Thu Feb 25, 2010 10:31 pm
- Location: Sydney
Re: Do i need insurance?
Postby rogan » Wed May 04, 2011 7:56 pm
I've been looking at income protection lately, guess what's excluded? Racing and training (if anyone knows of a policy that will cover racing and training, please let me know). They are picked up under the Cycling Australia policy you get with the racing licence, but only to the tune of up to $500 per week. I think they should at least get to the after tax component of the average wage (which would be more like up to $800). I note the comments re difficulty of actually claiming, and hope I never need to!
Undeniably there is at least some risk associated with racing and training. However, the fact that racing and training significantly lowers the OTHER risks they are insuring (cancer, heart disease, heart attack, stroke, other heart problems such as angina and CHF, high blood pressure, Type 2 diabetes and the symptoms associated with it, obesity plus the other problems associated with that - many of which but not all I've mentioned - plus racers don't smoke at all, probably drink a bit less alcohol than otherwise and almost certainly eat a bit better, etc etc) makes this, in my view, quite short sighted.
-
- Posts: 231
- Joined: Mon Nov 30, 2009 8:49 pm
- Location: Land of the Young and Free
Re: Do i need insurance?
Postby bomber » Thu May 05, 2011 5:06 pm
My racing license has provisions for just that. As meagre as they are.skull wrote:What happens when you damage something else, I also believe there is cover for personal injury in some of the policies.bomber wrote: Based on that I have saved $1400 in the last two years. Each to their own I guess.
Protection for your bicycle
* Accidental / crash damage whilst in use
* Accidental / crash damage whilst racing
* Theft from your home
* Theft away from your home
* Loss or damage in transit – roof racks, airplane, bus, train etc
Protection for you
Up to $10,000 for death or disability or up to $1,000 towards non Medicare expenses such as dental, private hospital, ambulance, physiotherapy etc.
Optional extras
* Bicycle accessories (extra wheels, HRM etc) cover whilst in use
* International cover
-
- Posts: 66
- Joined: Wed Dec 08, 2010 8:03 pm
Re: Do i need insurance?
Postby l45er » Sat May 07, 2011 9:43 am
Currently have theft insurance on it, but would be much more at ease with 'in use' cover for roughly $5 a month more.
Said bike is around 10 months old. Looking at Swann at the moment as they seem the most cost effective for 'Elite Cover'. I've read the PDS and all seems OK - I can live with excesses etc.
Only thing is the Bike Condition Report requirement - anyone had one done at a LBS? How much does it cost and what do they look at?
-
- Posts: 1290
- Joined: Fri Dec 03, 2010 4:47 pm
- Location: Perth
Re: Do i need insurance?
Postby GraemeL » Fri May 13, 2011 5:18 pm
o $ limit per bicycle
Full Accidental Damage cover
No limit on the number of bicycles
Includes damage whilst in use
Worldwide cover
Includes damage to wheels and tyres
No need to supply a valuation prior
to taking cover
Racing cover included Full replacement cover - no depreciation applied!
No locking requirements whilst away from your home
$30,000,000 Liability cover
Automatic cover for modifications and accessories
Graeme
* Bicycle Camera FAQ's *** Mounting FAQ’s & DIY Mounts *
- gururug
- Posts: 1531
- Joined: Fri Jan 26, 2007 12:05 am
Re: Do i need insurance?
Postby gururug » Fri May 13, 2011 9:09 pm
GraemeL wrote:Anyone here used Cycle Cover?
o $ limit per bicycle
Full Accidental Damage cover
No limit on the number of bicycles
Includes damage whilst in use
Worldwide cover
Includes damage to wheels and tyres
No need to supply a valuation prior
to taking cover
Racing cover included Full replacement cover - no depreciation applied!
No locking requirements whilst away from your home
$30,000,000 Liability cover
Automatic cover for modifications and accessories
Graeme
Sounds too good to be true. I'd be very surprised if they lived up to all these claims or they can deliver this at a viable price.
- thefishsniper
- Posts: 19
- Joined: Thu May 12, 2011 10:42 pm
Re: Do i need insurance?
Postby thefishsniper » Fri May 13, 2011 9:37 pm
Safe Cycling everyone.
Rich
- sogood
- Posts: 17168
- Joined: Thu Aug 31, 2006 7:31 am
- Location: Sydney AU
Re: Do i need insurance?
Postby sogood » Fri May 13, 2011 11:06 pm
You are dreaming.rogan wrote:Undeniably there is at least some risk associated with racing and training. However, the fact that racing and training significantly lowers the OTHER risks they are insuring (cancer, heart disease, heart attack, stroke, other heart problems such as angina and CHF, high blood pressure, Type 2 diabetes and the symptoms associated with it, obesity plus the other problems associated with that - many of which but not all I've mentioned - plus racers don't smoke at all, probably drink a bit less alcohol than otherwise and almost certainly eat a bit better, etc etc) makes this, in my view, quite short sighted.
Exercise, weight reduction will lower those health risks over the long run, but beer drinking in amateur racers will keep those guts up. And race related injuries will add up. Further, early severe CV diseases and diabetes are great for the government. It means early death and no protracted retirement/pension and senility in a nursing home.
RK wrote:And that is Wikipedia - I can write my own definition.
- elStado
- Posts: 2363
- Joined: Tue Mar 16, 2010 12:27 am
- Location: Syd, NSW
Re: Do i need insurance?
Postby elStado » Fri May 13, 2011 11:17 pm
I don't have private health insurance, but considering the BWA insurance covers most forms of injury it would be good to have if there was ever an incident.
The excess for 3rd party damage is a bit crazy though ($1000) so let's hope that I never wipe anyone out and get sued for it.
- Ross
- Posts: 5742
- Joined: Sat Nov 07, 2009 8:53 pm
Re: Do i need insurance?
Postby Ross » Sat May 14, 2011 8:28 pm
-
- Posts: 283
- Joined: Thu Dec 17, 2009 9:54 pm
Re: Do i need insurance?
Postby ireland57 » Sun May 15, 2011 7:14 pm
Basically it was "if you cause an accident you may be legally liable for damage to man and machine" only now the rules will be aiding the claims not being neutral as I guess they were before.
I have theft and damage insurance as part of house policy but I'm starting to rethink.....may need more.
-
- Posts: 66
- Joined: Wed Dec 08, 2010 8:03 pm
Re: Do i need insurance?
Postby l45er » Mon May 16, 2011 8:26 am
As bike is ~10 months old, had to get a "Bike Condition Report" which was just getting a LBS to say that the bike is fit for purpose and has no visible defects etc. Took 5 mins and was free at LBS which was handy.
Excess is $500 ($300 basic + $200 CF).
I figure it covers me for anything that occurs that isn't manufacturer related. I.e. my frame has lifetime warranty, but if it fails due to something else then the insurance (theoretically) should cover it.
Guess it is better to pay $500 excess then be out of pocket $3500. I'm also about to start commuting around 40km a day so figure it to be a wise investment.
-
- Posts: 1
- Joined: Thu Aug 18, 2011 10:48 am
Re: Do i need insurance?
Postby stinga » Thu Aug 18, 2011 11:00 am
-
- Posts: 820
- Joined: Sat Aug 08, 2009 12:36 pm
Re: Do i need insurance?
Postby Chris249 » Fri Aug 19, 2011 12:02 pm
But Cycling Australia insurance already covers the damage to man (or woman) as far as I can see, and damage to machine with a $1k excess.ireland57 wrote:Our commissaire gave a little speech today after a finish line sprint accident (one rider down; bike damaged; rider scraped but ok) and said that UCI have started a rule change for road and track.
Basically it was "if you cause an accident you may be legally liable for damage to man and machine" only now the rules will be aiding the claims not being neutral as I guess they were before.
I have theft and damage insurance as part of house policy but I'm starting to rethink.....may need more.
Given the way crits work, and the fact that there is a certain assumption of risk when one tales up racing, it's hard to see whether one would actually practically be liable for damage to another person's bike when racing. Riders are allowed to make reasonable errors in the heat of the moment, so if (say) one got a bit out of line and touched a wheel it doesn't mean you are automatically responsible for resulting damage to another bike.
Como Vivente road 2009
Principia track track 2014
Cervelo P2K TT 2003
Merida CX4 2010
Concaeio road
- General Australian Cycling Topics
- Info / announcements
- Buying a bike / parts
- General Cycling Discussion
- The Bike Shed
- Cycling Health
- Cycling Safety and Advocacy
- Women's Cycling
- Bike & Gear Reviews
- Cycling Trade
- Stolen Bikes
- Bicycle FAQs
- Serious Biking
- Audax / Randonneuring
- Retro biking
- Commuting
- MTB
- Recumbents
- Fixed Gear/ Single Speed
- Track
- Electric Bicycles
- Cyclocross and Gravel Grinding
- Dragsters / Lowriders / Cruisers
- Children's Bikes
- Cargo Bikes and Utility Cycling
- Road Racing
- Road Biking
- Training
- Time Trial
- Triathlon
- International and National Tours and Events
- Cycle Touring
- Touring Australia
- Touring Overseas
- Touring Bikes and Equipment
- Australia
- Western Australia
- New South Wales
- Queensland
- South Australia
- Victoria
- ACT
- Tasmania
- Northern Territory
- Country & Regional
- The Market Place
- Member to Member Bike and Gear Sales
- Want to Buy, Group Buy, Swap
- My Bikes or Gear Elsewhere
- Cycling Brands
- Cannondale
- Garmin
- Giant
- Shimano
- Trek
Who is online
Users browsing this forum: No registered users
- All times are UTC+11:00
- Top
- Delete cookies
About the Australian Cycling Forums
The Australian Cycling Forums is a welcoming community where you can ask questions and talk about the type of bikes and cycling topics you like.
Bicycles Network Australia
Forum Information
Connect with BNA
This website uses affiliate links to retail platforms including ebay, amazon, proviz and ribble.