Been thinking about whether I need insurance on a newly-purchased bike. It's worth about $3000, and my worry is if I get in a crash, I'm out of pocket a great deal.
Also, home and contents only covers me up to $1500 and only theft at home.
Alternatively, bicycle-specific insurance covers out-of-home theft, crash, etc.
Is insurance a good idea, and if so, any good companies?
My Velosure policies (2 bikes) cover me while racing as long as I'm not racing as a professional rider.
Some house & contents will cover a bike in use (not competition) but limit which suits only low value bikes.
This post got me thinking and I just rang my insurance company and they cover if I was to be riding and crashed away from the home but not for any racing or organised activity, this includes riding a community events such as Bike SA rides. I need to find something else now as in my opinion this is when I need it most, when there are lots of other riders who can potentially ride into you. So thanks it is a good idea to check the fine print.