You are NOT covered while racing your bicycle, only for leisure and non-event/non-competitive rides.
The Battleface travel insurance policy does not offer cover for any injuries or other losses you may sustain while racing or participating in any timed events on your bicycle.
The Battleface policy has some adventure activities that are on the exclusions list, these are listed on page 12 of the PDS. The policy does include cover for non-competitive sports and leisure activities including bicycling, recreational mountain biking, and bicycle tours with a licensed tour operator (but not when racing, motor cross, BMX, cross country, or downhill mountain biking).
Please consider the cover options in the PDS and TMD available on the Battleface website. Velosure acts as a referrer for travel insurance to Battleface and may receive a commission.