FAQ

Subject to policy terms, conditions and exclusions.

My bicycle isn’t brand new – is it still worth insuring?
It can still be insured at its market value. However we only cover bicycles with a market value greater than $1,000 and less than 5 years old.

How much will it cost to insure my bicycle?
It depends on a few variables. The best way to find out is to use our online quote tool on the home page of this website.

What value should I insure my bicycle for?
‍For bicycles older than 2 years from date of purchase or purchased second hand, the Sum Insured should be reflective of the depreciated value (calculated by deducting 10% from the Recommended Retail Price for every year or part thereof, measured from the original date of purchase as a brand new item).

Is there excess payable on this policy?
‍Yes, to keep it simple, we have kept the excess standard at $350 per claim.

‍Do you cover more than one bicycle on a policy?
‍We can list more than one bicycle on one policy, provided they all belong to the one person. Additional bikes attract a multi-bike discount of 10%. However, if your partner has their own bicycle, they will need a separate policy for their bikes.

Can I add or make changes to the policy?
‍Definitely. All you need to do is to contact us and we will make the additions to the policy. Please note that certain changes/additions may affect your premium. You can ring us on 02 9160 0219 or email [email protected] Refunds are payable for cancellations, where the premium has been paid annually in advance. The refund amount is calculated on a pro-rata basis less any government charges, levies or taxes we are unable to recover, and any administration fees payable.

‍How do I prove ownership of the bicycle I want to insure?
‍If you bought your bicycle new in the last 30 days we will accept a copy of the purchase receipt as proof of ownership provided that you send it in within 14 days of purchasing your policy. If your bicycle is older than 30 days, take a nice clear high resolution image (with your smartphone) from each side of your bicycle with a sheet of paper clearly displaying your policy number in the field of view. Be sure not to obscure any part of your bicycle. Please also provide a clear image of your serial number.

Can I choose the bike shop to replace or repair my bicycle?
‍Yes. You can nominate a bike shop of your choice but we retain the right to take the work to a bike shop of our choice.

‍I have previously made a claim for a bicycle, will this affect my cover?
‍Whether the bicycle was insured or not you need to inform us of any bicycle related losses that you have had in the past five years.

‍What is the maximum bicycle value you insure?
‍The maximum value per bicycle is $20,000.
‍
‍Are there any specific security requirements if I transport or store my bicycle?
‍Yes. For the details on security requirements please refer to pages 13 - 14 of the PDS.

While at home
‍You must ensure that when your bicycle is left inside your home that your home is securely locked whenever there is no one at home. If your bicycle is left in an outbuilding at your home (such as a garage) or any other fully enclosed building at your home with walls and a roof, these buildings must be securely locked. In the event of a claim we will require you to provide evidence of forcible and violent entry to these buildings. If your bicycle is left anywhere else on your property it must be securely locked through the frame of your bicycle to an immovable object by an approved lock.

‍Away from your home
‍If your bicycle is left unattended while away from your home it must be securely locked through the frame of the bicycle to an immovable object by an approved lock. Go to approved locks to see a description of the locks we approve.

While your bicycle is being transported
‍If your bicycle is left unattended if it is in, or attached to, any motor vehicle including while it is in transit it must be securely locked through the frame of the bicycle to a properly fixed vehicle bicycle rack with an approved lock; or locked in an enclosed boot that is not accessible by removing any partition or breaking a window. Note: All instances involving theft, attempted theft, malicious damage or impact require a police report in order to make a claim.

‍Am I covered whilst travelling overseas with my bicycle?
‍If you have selected the optional worldwide travel cover and it is displaying on your insurance certificate, we will cover your bicycle for up to 90 days if you are travelling overseas.

‍Can I get cover for extra things I have put on my bicycle?
‍Yes with your Bike Insure policy you can insure your accessories, additional wheelset as well as your custom parts. As an added bonus your Personal Gear is covered up to $500.

Do you insure professional cyclists?
‍Unfortunately, we do not insure professional cyclists as you need to be the owner of the bicycle insured. In addition to this, we do not insure:

• Riders who use their bicycles to deliver goods, parcels, packages or for any other type of courier service
• Riders or individuals who use or hire out their bicycles for compensation or for the carriage of passengers

Please read the Product Disclosure Statement for further details.

‍Am I covered if I lend my bicycle to another person?
‍Yes, subject to policy terms, conditions and exclusions

When we decline to offer you insurance, it’s because the information you have provided to us does not match our criteria. We will always provide you with the reasons why we have declined to provide you with insurance, so you understand our decision. We will also provide you with information about where you can go to find other insurers that offer products similar to ours and that may be better suited to your needs. At any stage, you can contact us with any questions you may have about our decision. If you are not satisfied with our decision, you may also make a complaint, please refer to our Complaints Handling Process.

Do you only cover Australian citizens?
‍No, you don’t have to have Permanent Residency or Australian citizenship to get cover. You can be in Australia on a visitor visa, but must live in Australia on a permanent basis.

‍What happens if I need to make a claim?

• Do what you can to prevent any further loss, damage or cost.
• Report the incident or loss to the police if the event involves theft, attempted theft, malicious damage or impact.
• Report the incident as soon as possible by calling us on 02 9160 0219.

Of course, you can also ring us first should you have any questions before implementing the formal steps above. It can be a confusing time and we can talk you through all that you need to do.

‍Is there a minimum/maximum age for the person insured?
‍The minimum age we insure at Bike Insure is 18 years. The maximum age is 75 years. If you are older than 75 years and need to have your bike insured please contact us and we will try to assist you.

‍What information do you need to start cover?
‍The information we will need to start cover includes your personal information such as contact information and address, the details of the bike(s) and/or accessories, custom parts and/or extra wheelsets you would like to insure, these include the make and model of the item and the value you wish to insure it for, lastly we will need your payment details in order to start the policy. Once the policy is issued we will also request the purchase receipts of the items insured, or photos of your bike in the case of a bike older than 2 years or purchased second hand.

‍What happens after I make a claim?
‍We will either:

• Repair or replace your bicycle or item; or
• Pay you the reasonable cost of replacing or repairing your bicycle or item.