Hey guys,
I may want to insure my bikes and was thinking off Velosure. Does anyone know the company and has something good or bad to say about them?
Cheers
Marc
I had my carbon roadie insured with them for 2 years, just cancelled it. Great if you’re racing, if its your only bike, or if you just couldn’t afford to replace it if you crashed it or had it nicked. Never had to claim, so can’t say if they turn into a typical insurance company when the time comes.
Jim
Don’t do it. You will get fucked. I have seen bikes replaced using ebay as the value gauge. I’ve seen carbon wheels relaced despite the entire wheel being fucked. I’ve seen S-works frames with cracks repaired rather than replaced.
so who do you insure your bike with? just update your contents insurance? does that cover you in an accident? approach your motor vehicle insurer?
My contents insurance (YOUI) covers my bike if it gets stolen from home or anywhere. Don’t think it’s covered for accidents, but would have to check. With accidents, if it’s your fault, bad luck - but if it’s some asshats fault, you have to chase them for the money anyway. (There’s a thread here for that too.)
I have also heard and seen bad theings from Velosure.
A mate had a crash, busted his red levers and group and cracked the frame.
The right lever cracked and was repaired, left lever was worn down from road rash (badly) and so was the rear mech.
They classed the damage as cosmetic.
His top line scott frame was retail $5000 or there abouts they said they found one online for $1800 and gave him that.
My carbon roadie i added to my home and content great cover but exxy, and im with suncorp.
Just pay for agreed value, not market. You pay a premium but the market for bikes is comprised of bikeexchange, eBay and gumtree. No such thing as Glass’s for bikes
I had it for my road bike when I had it. Bike was worth about $2000 so I thought the insurance was worth it. Had a massive stack and fucked the front wheel/fork/stem/bars. Had mine insured for agreed value and took it to my bike shop. Ended up getting better Tyres and a new saddle out of them too. They even had to get the replacement carbon fork from Italy. I guess it’s more about the bike mechanic who’s doing the claim/quote and how it’s written up. I thought it was worth it for about $14 a month.
DT.
I pay $80 a month with home and contents up to 30-40k with a $250 excess. Through cyclesafe. Most of the other cheap ones I found are bike specific, you have to register the bike with them etc etc. Also they have a higher excess, say $500 etc
Covers any bike, any type of damage or theft (accidental, 3rd party etc) covers me for racing too.
Never had to claim so hopefully they don’t fuck me around, I’ve read good things online though.
Benefits of the policy:
Accidental Damage or Loss/Theft cover for your contents (including your bikes whilst riding) 24 hours a day, 7 days a week anywhere in the world
Valuable items such as jewellery and watches are covered up to $10,000 per item and in total up to 25% of the sum insured. Items over $10,000 are able to be specified on the policy if required.
No limitations on the value of your bike/s – the policy is replacement new for old
All your bikes are insured by the policy without the need to list them specifically
Public Liability of $20 Million automatically included
Racing automatically covered
Items used for earning an income are automatically covered up to $10,000 in total (ie business use laptops, printers etc).
Personal use photographic equipment and musical instruments are automatically included at no extra charge.
Alternative excesses are available if required.
Payment is able to be made annually or via monthly direct debit from a credit card or bank account at No Extra Cost.
Thanks guys, seems there is no yes or no in this case. Will have a thought about it. Cyclesafe doesnt sound to bad though as I’m basically without any insurance at the moment and they seem to cover a lot. If they end up paying though 
It really depends what your bikes worth.
Mine are just on my contents insurance with NRMA.
Covers me while I am riding anywhere in the world as well as theft etc.
As with everything else, I am not covered for racing, but neither are my firearms while competing there so it’s just a risk that we all take.
Overall my sporting equipment has added a bucketload to my contents insurance, but better to be safe than sorry.
Anyone here either insured or claimed insurance for a refurbished old steel bike? How do you value something like that?
MAKE SURE you have an extensive legit proof of purchase!!! I went through a decent battle with those guys to the point of self harm they made it so dam hard. At one point they told me the images I supplied (of one of the bikes IN my house next to MY son) could have been anyones bike I borrowed and photographed!! The FOA server dosn’t have enough space to tell the full story but seriously that was only the tip of the iceberg.
Truth. I used to be with Suncorp and they were excellent
I have been with Velosure for almost 3 years now. I have had to claim twice, one minor and one major claim. I can’t say anything negative about them. In fact, I am a very happy customer.
Do they cover bicycle insurance while traveling abroad? The page is unclear
https://velosure.com.au/personal-travel-insurance-for-all-australians/