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Bike insurance

By pommyracer - Posted on 02 November 2012

NB: Originally posted elsewhere on the Global Riders Network and appears via syndication.

Both me and the missus have just purchased some fairly nice bikes and need to think about insurance.
Any help on what people do in this regard? Add it on to home contents? Specialised policy?
I have had a quote from velosure but don't really have anything to compare it against etc..

I listed my bike with our home contents insurance as a special item for around $120 a year ($4k value). The insurer told me to keep photos, original receipt and serial number in the event of a claim. I think the excess is $400 if stolen whilst at home or $200 if stolen away from home (go figure that logic!)

I would go with Velosure. They are a specific cycling insurance company. They cover racing, traveling, all sorts.
They also invest a huge amount of money into the sport (sponsorship of all sorts of events) and I think we should support those who support us.

I have mine insured with my home and contents as a portable extra. I don't really even notice the extra cost on the total premium. As above, only need to keep photos of it + the serial number on the frame.

The fact that Velosure cover while racing and are happy to recognise and cover any upgrades you make to your bike makes them the one for me. (not that many of us tend to upgrade our bikes with expensive shiny stuff with questionable nett benefit!) They also combined my two bikes under one policy which made it cheaper this year.

For Velosure, I unfortunately have had to make a few claims as well and they have been very swift in handling the claims and organising replacements etc.

Definitely recommend them.

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