I may be the last one in Adelaide to realise this, but following a minor bingle with a car last week that caused me to call my insurance company re the repairs, I was advised that my policy no longer covers damage whilst my bike is 'in use' (ie., OK for theft or if it was damaged whilst NOT in use). They had clearly changed this cover since I last needed this support (Feb 2009). One might speculate that the interstate disasters in recent years (acknowledging their loss was FAR greater than mine) may have prompted these companies to minimise future liabilities through tampering with their policies. So my advice to AC members who think that the bike is insured for accidental damage, please check your current policy exclusion! I am now getting quote from that Cycle Cover Gold mob (http://www.cyclecover.com.au). Does anyone recommend them?
+1 for Velosure.
Great service and you also get a nifty little tool bag sent to you once a year.....
i didn't get a nifty little tool bag.. =[
Is that what it's for. I used my to keep the sweat off my mobile phone.
Just doing the quote from Velosure.
Good topic Ray.
I claimed for my bike in September with no problem but the new PDS says not covered on "organised rides" previously the only exclusion was racing. What constitutes an organised ride could be open to interpretation I guess.
Could yo not claim from the car driver? or do you not want to go into that in a public forum? Couldn't blame you if you didn't.
Patrick...does the PDS define "Organised ride"? If not, then it is very much open to interpretation.
I would think the normal rides run by members of this website (social rides, Gawler Wheelers, Muddies etc) would not be considered organised. You don't pay an entry fee, there is no support vehicles/people etc. However, BikeSA rides (Amy's, VeloAdelaide, Grand Slams), the BUPA TDU ride, Ride Like Crazy etc would all be organised rides. But this is just my interpretation. The insurance co. could see it much differently. If it went to the Financial Ombudsman, then they would apply a "common man test" - apply what the common man (or woman) would most likely think the case to be. Generally, if there is any ambiguity, then the Ombudsman will side with the consumer, not the big bad insurance company.
It is a good point raised by Ray - we should all check our policies each year to make sure they haven't changed. Especially check for the features you value the most. Each policy year is a new contract (even if you are paying via automatic monthly installments) and the insurer can issue new terms and conditions, but they must inform you of the T&C's via the PDS & Policy Wording.
I'm planning on insuring my new bike with Velosure - they cover the bike under pretty much all situations.
I'm now 3 weeks without a bike. I gave the driver two weeks to sort out his insurance and (allowing for Christmas) he's had one week and I've heard nothing this far. If he doesn't do anything then the only other option is small claims court. If I had insurance then the insurer would have paid out already and they'd be chasing up the driver...
Your recent experience is what I MAY be looking at and worrying about too, but guess I have to jump the first hoop of giving the driver the opportunity of doing the right thing first.
Here are many links to AC discussions on insurance.
Great, thanks for these links, Heather.
Interesting to read that some of those slightly earlier comments from other members confirm my present experience with the same insurance company that once covered 'the lot' under home and contents, now does NOT cover accidental damage whilst one's bike is 'in use'.