General Cycling Discussion - Bike Insurance

after searching the forums i didn't come up with much on bike insurance.

is it available?

how does it work?

who offers it (particularly in NSW Australia)?

if you have insurance on say a $3000 bike, how much is your premium and excess?

Thanks in advance:)

I don't know about Australia, but I asked at my insurance company last time I renewed my car insurance. They looked at me, buggy-eyed, and said that they don't insure bikes, and any damages to me would have to be covered by health insurance.

I would think the insurance companies would love to collect money from us, look at your home owners policy or renters insurance, a lot of times they cover such things.

Originally posted by ngateguy
look at your home owners policy or renters insurance, a lot of times they cover such things.

i've thought of that but i doubt they'd cover your bike when it's off of the property. i'll give it a go anyways. thanks

I'm interested in this to, I have car insurance. And I rent, and I doubt renters insurance would cover my bike, let's say a motorists hits me and he does not have insurance.

Have a look through your various national cycling organisations, they usually offer some kind of bike insurance policy.
You can often get 3rd party insurance for yourself when you join a national cycling organisation. You need 3rd party if you are (or are deemed by a court to be ) the cause of a crash, eg a pedestrian jumps under your wheels and says you pushed them. Your insurance would then cover all the costs against you.

In the UK, bike insurance runs at 10% of the value per year. I dont insure my bikes, but do insure myself.