Bicycle Insurance FAQ | Frequently Asked Bicycle Insurance Questions

FAQ*

What is bikesure?

Bikesure is a bicycle insurance specialist. Along with a suite of cycling industry related insurance products, bikesure offers comprehensive bicycle insurance cover with two options:

Bikesure Bicycle Insurance

Stand alone bicycle insurance policy that allows you to insure your bicycle comprehensively world wide, without having to purchase a Home Insurance policy. Bicycle insurance made easy!

Bikesure Home Insurance

Our home and contents packages provide worldwide insurance for your bicycle including cover whilst riding, racing/events (optional add-on) and public liability as standard. High automatic limits for Personal Property and jewellery. Contents-only packages available for renters, townhouses and apartments.

When would I buy a bikesure bicycle insurance policy?

I want to insure my bicycle for loss, theft and damage but I don’t need home and contents insurance.

When would I buy a bikesure home insurance policy?

I want cover for my home and contents as well as my bicycle collection.
I want cover for my children’s bicycles.
I want cover for my BMX, Tricycle, Tandem or Recumbent.
I want an all-in-one policy which includes public liability
I want a cost effective solution for comprehensive home and bicycle insurance coverage

Do bikesure policies cover my bicycle whilst I am riding it?

Yes. Bikesure Bicycle Insurance and Bikesure Home Insurance products provide you with cover for damage to bicycles and e-bikes including whilst in use.

How do I know what value to insure my bicycle for?

Bikesure Bicycle Insurance is subject to depreciation: If your bike is less than 2 years old AND you are the original owner your bike should be insured for replacement value (including fixed accessories). If your bike is more than two years old OR you are not the original owner you should nominate a value that represents the market value of the bike (including fixed accessories).

Please refer to our Product Disclosure Statement (PDS) for full details of How We Settle Claims and how depreciation is applied.

Bikesure Home Insurance does not apply depreciation to bicycles. You should consider the full replacement cost of your bicycle when selecting a sum insured.

What is the minimum sum insured for bicycles?

Bikesure Bicycle Insurance provides cover for bikes valued from $1,500 up to $20,000.

Bikesure Home Insurance provides cover for bikes of any value.

What are classed as bicycle accessories?

Any bicycle parts which are not permanently fitted to the bicycle or not typically sold as part of a complete bicycle including but not limited to pedals, lights, bottle cages, saddle bags, power meters, computers and additional wheelsets.

Accessories do not include riding gear (helmets, shoes, riding clothes etc.).

Do I need to include accessories in the total value of my bicycles?

On Bikesure Bicycle Insurance policies, accessories such as pedals, computers, power-meters and additional wheelsets must be listed under the bike which they are fitted to.

You do not need to list any bicycle parts which are typically sold as part of a complete bicycle.

We understand items like saddles, stems, handlebars, seat posts and suspension are often swapped or upgraded; provided the sum insured reflects the complete bike in it’s best spec these items do not need to be listed.

Bikesure Home Insurance policies do not require these items to be listed.

Are my helmet, shoes, glasses and clothing covered if lost or damaged?

Bikesure Bicycle Insurance does not cover these items. Bikesure Home Insurance policies may provide loss/theft cover for these items depending on the underwriter and policy limits.

Can I insure my child’s bicycle?

The insured rider must be a minimum of 18 years old for their bicycle to be covered by a Bikesure Bicycle Insurance policy. Bikesure Home Insurance includes cover for a spouse, partner, children, parents or other family members residing permanently with you. This includes cover for bikes being ridden by insureds aged under 18.

Does my bicycle need to be locked?

We understand that you do not always carry a bike lock around with you. Your bicycle does not need to be locked if it is in your direct line of sight. However it does need to meet the bicycle security conditions of the Bikesure Bicycle Insurance PDS if left unattended.

Will my bicycle be covered if I travel?

Yes. Bikesure includes automatic cover for bicycles temporarily removed from your home, Australia wide and up to 90 consecutive days anywhere in the world.

Bikesure Travel Insurance (Chubb leisure travel product) can be purchased with an ‘adventure pack’ add-on which provides personal accident cover for incidents occurring during bicycle tours.

Do I need to provide the serial number or images of my bicycle to start the policy?

No. Proof of purchase/ownership is only required in the event of a claim. We recommend you keep digital records of your possessions for this purpose. We aim to make the purchase AND the claim process as easy and stress free as possible.

Can I insure my bicycle if it is used for business purposes?

No. Bicycles are not covered whist used for any business purpose. However we can assist with insurance solutions for businesses in the cycling and bicycle industry. Contact us for assistance.

I am a professional or sponsored rider, can I still take out the policy?

Professional and sponsored riders are eligible to take out a Bikesure Home Insurance policy, however cover will not include damage to bikes during racing/events.

Bikesure Bicycle Insurance does not cover professional or sponsored riders.

What is the excess for bikes?

Bikesure Bicycle Insurance

The excess is $500 for any claim requiring replacement parts. The excess is $300 for all other claims (e.g. carbon repair claims not requiring any replacement parts).

Bikesure Home Insurance

The standard excess for all claims is $600, adjusted excess values are available on request.

Can I insure more than one bike on the one policy?

Yes! Bikesure Bicycle Insurance provides cover for each bike individually listed on the policy.

Bikesure Home Insurance automatically covers all of your bicycles provided you have elected a high enough contents sum insured.

Can I insure my BMX, Tricycle, Tandem or Recumbent?

Bikesure Bicycle Insurance provides cover for Road Bikes, e-Road Bikes, Mountain Bikes, e-Mountain Bikes, Time trial and Track bikes.

Bikesure Home Insurance provides cover for most types of bicycles

Is my bike covered while being transported by car?

Yes! Both Bikesure Bicycle Insurance and Bikesure Home Insurance cover damage to bicycles whilst they are being transported in your car, or transported attached to a roof or tailgate bicycle rack.

Theft of bicycles from your car is covered provided the Bicycle Security requirements set out in the PDS have been met.

What if I damage another person’s property whilst riding my bike?

Bikesure Home Insurance includes $20,000,000 legal liability for property damage and bodily injury to others. This includes accidents occurring whilst riding your bicycle.

Bikesure Bicycle Insurance does not include legal liability cover.

Am I covered if I injure myself?

Bikesure Bicycle Insurance and Bikesure Home Insurance do NOT provide any personal accident cover.

Will my bicycle frame be repaired or replaced?

Bikesure Bicycle Insurance claims will have the level of damage to carbon frames to be assessed by a carbon fibre repairer. Based on the assessment of damage, the insurer will repair or replace the frame.

Bikesure Home Insurance is a full replacement policy. Frame damage assessment and replacement quotes can be obtained from your local bicycle retailer, or online if applicable. Replacement costs will be verified by a 3rd party supplier appointed by the insurer.

Am I covered if I damage my bike whilst racing?

Bikesure Bicycle Insurance provide insurance which covers damage to your bicycle whilst racing.

Bikesure Bicycle Insurance does not cover athletes whom are a Professional Licence holders, or in an elite training program, registered cycling team, or sponsored commercially to compete in any such sport that involves the use of a bicycle.

Can I purchase Bikesure Home Insurance without building cover?

Yes! Bikesure Home Insurance can be purchased as a contents (and bicycles) only policy. This may be applicable for:

Tenants/Renters
Town-Houses/Units/Apartments
Situations where separate building cover is applicable

What is the minimum contents value to receive cover under Bikesure Home Insurance?

$40,000 is the minimum contents sum insured.

Is Bikesure Home Insurance New for Old for my bicycle and other contents items?

Cover is New for Old under the Bikesure Home Insurance policy. This means you need to insure your bikes and accessories for their replacement value. The same applies to your other contents when considering your total contents sum insured.

Do I need to specify my bicycle on the Policy?

Yes, you will need to specify your bicycle on your policy.

Quotes we provide are always based off the information you tell us. Contact us to confirm contents sums insured are high enough to cover your bicycle collection. Please refer to the limitations within the Product Disclosure Statement.

Will my contents be covered away from the home?

Yes. Bikesure Home Insurance includes automatic cover for Unspecified Personal Property temporarily removed from the home Australia wide and up to 90 consecutive days anywhere in the world. Please refer to the limitations within the Product Disclosure Statement.

What is Personal Property?

Personal Property items are personal effects that are normally worn or carried by you for your own use. This includes jewellery and watches, cameras, sunglasses, mobile phones, laptops and ipads.

How much is my Personal Property covered for away from the home?

Bikesure Home Insurance includes automatic cover for Personal Property up to $10,000 per item, set or collection. Please refer to the limitations within the Product Disclosure Statement.

What if I need more cover for personal property away from the home?

Personal property items (portable valuables) can be individually specified on Bikesure Home Insurance policies. Additional underwriting criteria and premiums may apply for personal property items, sets and collections valued over $10,000. Please refer to the limitations within the Product Disclosure Statement.

Do any discounts apply to the policy?

Bikesure Bicycle Insurance applies a 10% multi-bike discount for any additional bicycles insured on the same policy.

Bikesure Home Insurance applies discounts when:

You combine building and contents insurance
You are aged 55+ and no longer working full time
Your home features a high level of security

I already have Insurance with another company, can I change to Bikesure?

Yes. You can cancel your insurance policy before the expiry date and may receive a refund. Cancellation fees may apply and you should consult your Insurance Company for details.

Can I make a change to my policy?

Yes! You can amend your policy at any stage; simply contact Bikesure via email anytime or call us during business hours.

Please note: Certain changes/additions may affect your premium.

Can I pay by monthly instalments?

Bikesure Bicycle and Home Insurance policies can be paid annually upfront or via monthly funding from Hunter Premium Funding (additional charges apply).

*Answers provided within the FAQ section are a summary only. Terms conditions and exclusions apply, cover subject to certain security requirements being met. Please read the relevant PDS to determine if our products are right for you.

Bikesure: Bikesure Insurance | Bicyle Insurance Australia