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Bike insurance. Which company?


By Pete B - Posted on 06 July 2015

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

I have my bikes as named items on my house contents insurance which covers them for everything and everywhere but since adding my latest bike, the premiums have rocketed so I'm wanting to put them on a specific cycle insurance.

I've had quotes from Velosure and Real Insurance and they're both a similar price and cheaper than having the bikes on my contents insurance.

What other companies are worth getting a quote from and has anyone had any dealings with bike insurance companies and c6an recommend their services?

[Mod. moved to Shopping as looking for a service]

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I've got my bike insured through Velosure. I have actually made a claim from them, not for a stolen bike but their cover includes a bit of medical insurance (up to $1000 if I remember) for bike related accidents.

They were really helpful and easy to deal with and paid up promptly too. Highly recommended.

I have my road and MTBs with Velosure, easy to deal with if you need to speak to them. Insured for everything except travel outside Aust/NZ. Which then you just pay a small addition if your taking OS.

A mate and I are with velosure. He stacked and snapped a frame and they covered without fuss.

Thanks for the advice guys, looks like Velosure is the way to go :thumbsup:

I used their travel insurance when I went overseas and needed to claim a hospital bill and was pretty easy and fast.
They also have bike insurance and I just compared a few days ago vs Velosure and was a bit cheaper, and I think overseas travel is already included.
I used to be insured with Velosure but never had a claim. When I took my bike OS they only told me to specify dates and if I had to claim it was double the excess.

While my home contents insurance doesnt give me cover while I ride it worked out far cheaper for me. My bikes also are far less likely to get damaged than I am.

I have my home contents with QBE.

The insurance from the above bike sites was up to $700pa per bike. I own four bikes.

For the same price or less for my four bikes I get full insuance from QBE for a $700k home rebuild plus, $100k of contents and all my bikes.

I'm also covered for a certain number of days out of the country.

I'm also happy with the free travel insurance from my credit card so long as I pay at least 50% of my airfare on it.

Superannuation also often gives death and disability cover.

Private health often works out cheaper than the extra tax you pay without it.

AAMI etc were a different story.

After having 2 bikes trashed last year through no fault of mine my wife made me take out insurance and after reading this forum then having a chat with my mate @dicko I insured my bike with Velosure.

During the school holidays a couple of weeks ago I took my boy out to Wylde where we met with a mate and his 2 boys and introduced them to mountain biking. After an awesome day stupid me tied our bikes on the rack on the car with only 2 straps instead of the normal 3 I use when it's just my bike. As we were spitting distance from home we went over a speed hump and I noticed only my son's bike in the rear view mirror. Crap! Mine had broken a strap and was sliding along the road still attached by the front wheel.

Anyway, I spoke to Neil at Velosure and sent him the pic's and a list of damaged parts. He was familiar with all the places I buy my stuff and said they use the same suppliers and came back quickly with an offer that I thought was quite reasonable so I thought I'd share my experience to confirm what others have said about Velosure.

@fatboy it was only the bike this time! Smiling

Yeah thanks @hawkeye - I bet you're getting sick of taking me on those rehab rides each time I get out of hospital...

I always enjoy your company regardless of the circmstances

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