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?
I will be investigating more insurance when I can get back on the bike. I have been told that I cannot claim for my medical bills from a cycling accident that was caused by poor road maintenance of a NSW council.
Coverage applies whilst members are involved in CA, BMXA or MTBA activities, 24 hours a day, 7 days a week. These activities include official events, organised training including individual training, fundraising activities, and travel to and from these activities.
Now I want to know what constitutes " individal training " ????
Does that cover the bike though?
"includes personal accident, public liability & loss of income benefits"
It seems similar to the insurance that comes with the BikeSA membership.
individual training is you riding your bike. Or weights in the gym. Training is training. It covers 3rd part property and personal. It doesn't cover your bike (other than the damage your bike causes to others' property or personal). It covers you though!
I currently have velosure cover for my roadie but it is expensive. I too have been looking in to the cycle cover gold and it seems like a good deal, especially as it will cover all the bikes in the garage currently numbering 9!!
The only thing is the excess of $500 seems a bit steep on bikes. Worth it for a $$ roadie but maybe not for the 15 year old mountain bike!
Still haven't ruled it out.
But I really appreciated the service form Velosire when I lost my Garmin when I crashed a few months ago. Got a brand new replacement with in a few weeks.
THANKS ALL for your generous advice and comments. Clearly there is a measure uncertainty out there. As Don P said, be sure to keep checking your policy disclosure statement at least at renewal, you MAY not have the cover you thought.
Just to add to the equation, I called ANZ Home & Contents Insurance (underwritten by QBE) today and spoke to 2 different phone operators who were both 'uncertain' re my (basic) questions about bikes, so then spoke to their senior person. He in turn was unsure so called their assessors and called me back. Their current PDS states that their Contents policy covers "pedal cycles" with the exception of "while they are being used for racing or pacemaking". However, a latter section of the PDS says under Accidental Damage that they will cover "Any accidental damage or loss" with the exception of "Loss or damage to sporting equipment while it is being used", which seemed rather in conflict with the earlier racing or pacemaking limited exclusion, hence the reason this senior guy contacted their claims assessor. His answer was that 'pedal cycles' are also covered (apart from racing or pacemaking) under their Impact Damage clause, eg., "Loss or damage as a result of an impact caused by:...." followed by a list of scenarios including 'vehicles'. So does this exclude incidents/crashes where your bike is damaged but no vehicle impact is involved? I then asked whether I needed to itemise a bike valued at more than $3k as a 'specified valuable' (with an added premium) and was told that I did NOT, as this specified valuable clause only related to things like expensive gold, jewelery, rare collections, etc. Would they still be saying that if I came to make claim?
So it seems even the 'general' insurance companies have issues resolving this. Perhaps that does point us to more specialised providers like Velosure, CycleCover, etc, for the extra confidence?
I am concerned that some of the comments generously shared by members, from my own reading (but PLEASE don't take my word for it), suggest that some may think that their bike is insured but actually may not be (eg., from my reading, neither Bike SA member insurance nor Cycling SA insurance covers your bike). Time for a little homework? Better safe than sorry after an event?
I think one member (currently overseas) recently succesfully claimed for a damaged bike via his RAA insurance, I think it was home and contents.
I was chatting with my agent for Velosure regarding the expensive lock needed.
Roadies would not carry such a lock, and they realise this.
They said that their concession to this, was if the bike was stolen from (as example) outside the coffee shop, whilst the bike was in view, of the insured, then they would still pay out for Theft.
I have not even found anyone selling such a lock at these high prices.
Here are the current stats on lock prices:
The locks Velosure currently approve are:
Ray, I have H&C with CGU and I specifically asked the question(earlier this year) am I covered for my bike as I commute daily...Their response was NO. They said bicycles in use are not covered against damage, my bike is covered against theft & damage at home or being transported.
New my bike was $2400.00 3years ago todays market value, maybe $1000.00 and here is an issue when insuring because Velosure and others only want to insure for market value and it does not take into account improvements since purchase...I am currently quizzing them on a few points.
Bicycle SA Insurance is only for you, not your bike, it covers your ambulance, some loss of income, damage to others and or their property not your bike. Still worth having as scratches and dents on vehicles can be costly to repair.