FAQ's about the Policy
What is the Bikesure policy?
Bikesure is a tailored Home & Contents insurance policy with additional benefits designed specifically for the cycling enthusiast. Insuring your bikes packaged with your Home & Contents insurance not only saves you money but also makes it easier - one policy for your personal assets.
Is this a stand alone bike insurance?
No. Bikesure is a tailored Home & Contents package and must at least have Contents Insurance. It is a lot more cost effective to insure your bike as part of your contents policy.
Does the policy cover my bike whilst in use?
Yes. Racing cover is an optional extra.
What if I damage another person's property whilst riding my bike?
Damage to a third party property is covered in the policy if you are legally liable. You will need to take out racing cover if you are going to use your bike for racing. Please refer to the limitations within the Product Disclosure Statement.
I am a sponsored or professional rider, can I still take out the policy?
Yes. There are no exclusions in the policy for sponsored or professional riders provided you can prove ownership of the bicycle.
Can I insure my building under the same policy?
Yes. Bikesure is a Home & Contents packaged policy.
What is the minimum contents value to receive cover?
$35,000 is the minimum contents sum insured.
What are Home Contents?
Home contents means the household goods and personal effects that you own or for which you are legally responsible including fixtures and fittings installed for your use in premises that you lease or occupy as owner.
What is Personal Property?
Personal property items are personal effects that are normally worn or carried by you for your own use.
What are specified 'valuables'?
Specified valuables are items of special value that you would like stated separate in your policy schedule. These items are in addition to the total value of your contents.
FAQ's about your Bike
Can I insure my bike on its own?
No. Bikesure is a tailored Home & Contents package and must at least have Contents Insurance. It is a lot more cost effective to insure your bike as part of your contents policy.
How do I know what value to insure my bike for?
Your bike should be insured for replacement value (including fixed accessories).
Is the insurance New for Old for my bike and other contents items?
Cover is New for Old. This means you need to insure your bike and accessories for their replacement value. The same applies to your other contents. Please refer to the limitations within the Product Disclosure Statement.
Do I need to include accessories in the total value of my bikes?
Yes - if you want them to be insured.
What are classed as bike accessories?
Accessories include wheels, bike computer, lights, saddles and locks. Helmets, shoes, glasses and clothing are classed as sporting equipment and should not to be included in the value of the bike – they are included under the contents policy.
Do I need to specify my Bike on the Insurance Policy?
Bikes (including accessories) need to be specified if the total value of each bike exceeds $10,000. Please refer to the limitations within the Product Disclosure Statement.
Can I insure more than one bike on the one policy?
Yes. If you don't require racing cover and your bikes are under $10,000 each, then you don't need to specify them, they should be included in your 'contents' value. If you require racing cover, then the bikes (no matter what cost) should be included in the racing section.
How do I know if I need racing cover?
If you participate in any organised competition that involves competitive participation, including road cycling, off-road cycling events, triathlons, duathlons, time trials or any other organised racing event then you will need to take out racing cover if you want to be insured for damage to your bike caused whilst participating in these events.
Can I take racing cover out on its own?
No. It is an optional benefit of our Home & Contents policy.
If I don't take out racing cover and attend a race is my bike covered?
Your bike will be covered before and after the racing event. You will not be covered whilst you are racing unless you select and pay for the optional racing cover benefit. Please refer to the definition of racing and the terms and conditions within the Product Disclosure Statement.
Am I covered in a race without racing cover?
No. Your bike will be covered before and after the racing event. You will not be covered whilst you are racing unless you select and pay for the optional racing cover benefit.
Can I insure my child for racing cover?
Yes. The policy includes a spouse, partner, children, parents or other family members residing permanently with you. The person racing does not need to be named on the policy.
Does my bike need to be locked?
No. We understand that you do not always carry a bike lock around with you. You are required to take responsibility for your bike, so for example your bike should be in view whilst you are in a coffee shop.
I have insurance through a club or association – does that cover my bike?
It is likely that the insurance you have through a membership to a club or association (or for a one off day racing pass) is Personal Accident Cover for yourself and Public Liability Insurance. It is highly unlikely that your bike and accessories will be covered.
Will my bike be covered if I travel?
Yes. The Bikesure policy includes automatic cover for bikes and contents temporarily removed up to 90 consecutive days anywhere in the world. Please refer to the limitations within the Product Disclosure Statement.
Do I need to provide the serial number of the bike etc to start the policy?
No. However, in the event of claim proof of purchase/ownership will be required.
If I travel overseas with my bike is it covered?
Yes. You have up to 90 days worldwide cover.
Can I insure my bike if it is used for business purposes?
No, bikes are not covered whist used for any business purpose.
What is the excess for bikes?
The excess for bikes is $250 and $500 for racing cover (each and every claim). This is NOT in addition to the standard excess.
FAQ's about Security
What do you mean by 'key operated locks' with reference to doors / windows?
This means, does the external doors and windows to your home building have locks which are key operated, ie the door/ window which faces the outside, have a lock on it, ie this could apply to the security door(s).
What is a deadlock?
A deadlock is a key operated lock that can be locked from either the inside or outside.
I have a security screen, is this acceptable as a door with a deadlock?
Yes. A security door that can be locked from both sides by a key is acceptable as a door with a deadlock, but a deadlock on the main door is preferable.
What is a patio bolt?
A patio bolt is a key operated lock fitted to a sliding door that can be locked with a key to prevent the door being opened from the inside without a key.
What is a window lock?
A window lock is a key operated lock fitted to a window to prevent it being opened without a key. Such locks can be fitted to hinged or sliding windows.
FAQ's in general
I already have Home and Contents with another insurance 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. You just need to contact Bikesure. Please note, certain changes/ additions may affect your premium.
I wish to cancel my current home and contents policy?
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 pay by monthly instalments?
Yes. We can arrange this for you through a premium funding company. Additional charges apply.
Do any discounts apply to the policy?
Yes, the following discounts apply to the policy:
o Combined home and contents cover
o No claims in the last 1,2 or 3 years
o Security systems
o Over 50 years of age
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