Bicycle Insurance

Has anyone taken steps towards getting their bike/s insured?

I know BV does personal injury insurance, but not personal property ( ie you bike ). Any suggestions on who would be a company to go through / not go through?

Rough idea of price?


Check with your home contents insurer.
RACV contents insurance will cover bikes outside the home but you pay for each one, it was around $200 extra per bike.
Sign up with for your contents insurance and all bikes are covered outside the home. They were about $300-400 more than my standard contents insurance.

Try your home & contents insurer first - I had to nominate my more valuable bikes and provide a written valuation to substantiate (same with any item over a certain value, like wife’s jewelery etc) but it still worked out way cheaper than insuring bikes only with cyclecover. One thing to check if you go the home & contents route - make sure that any temporary removal clause in the policy document (ie a clause that covers items that you take away from your home) includes your bikes so that they’re covered while you’re out and about with them. Some cheaper policies have temporary removal clauses that specifically exclude things like bikes, laptops etc (I speak from bitter experience on this one).

Good thing about cycle cover is they cover you if your racing or training and have an accident.

So if it busts its covered!!!

I went with an ‘accidental damage’ contents insurance policy.

From what I have found, and standard contents policy will not cover property outside the house, but the accidental damage policy will.

I didn’t even have to nominate the bikes I was insuring and their value, as apparently only ‘valuables’ (being jewelery etc…) are needed to be nominated on the policy…

So I’ve had a few crashes lately and the repairs are going to be a fair bit. It’s probably too late for those now, but for future crashes, is cyclecover still the best insurer for bicycles / cycling?

see thread here:

with AAMI you can add personal valuables to your home contents insurance for around $40 a year. this covers you up to $1000 (-$100 excess) if your bike or other item is stolen. also, i think you pay $40 per $1000 pv insurance, so for up to $2000, you pay $80 per year.

cyclesafe, run by ihgroup through bicycling victoria seems to be the strongest recommendation in that thread. is that available to people who aren’t members of BV / live outside Victoria? I’m in the ACT…

Velosure is really expensive apparently.

If anyone’s curious, I got a quote from Cyclecover for about $535pa. That was with race cover for one bike and the minimum $35,000 contents cover.

Does anyone have comparative prices for anyone else? Maybe I should just go and read that other thread.