There is a question that is more frequently asked than others and so we’ll lead with it here by way of perhaps saving you some time.
Is my bicycle covered as part of my contents insurance?
Most people are unsure if their bicycle is currently covered under another insurance policy they may have. To find out if your bike is covered under your contents insurance, we've put together some questions to ask your current or potential contents insurer:
With Velosure it is
With Velosure it is
With Velosure it is
With Velosure you have personal accident benefits
With Velosure it is and you have the option to be insured for bicycles up to the value of $30,000 per bicycle
With Velosure you don't
Click here to view the full list of FAQ's for Velosure Travel Insurance
1. Do what you can to prevent any further loss, damage or cost
2. Report the incident or loss to the police if the event involves theft, attempted theft, malicious damage or impact
3. Report the incident as soon as possible by calling us on 1300 Velosure (1300 83 5678)
Of course you can also ring us first for advice before implementing the formal steps above. It can be a confusing time and we can talk you through all that you need to do.
The minimum age we insure at Velosure is 18 years. The maximum age is 85 years. If you are older than 85 years and need to have your bike insured please contact us and we will try to assist you.
Velosure's personal accident cover will pay out (if applicable) regardless of if your club insurance also pays out or not.
We will either:
No, you don't have to have Permanent Residency or Australian citizenship to get cover. You can be in Australia on a visitor visa, but you must live in Australia on a permanent basis.
You're well and truly covered with us:
No matter how old your bike is it can still be insured at its market value.
It depends on a few variables. The best way to find out is to use our online calculator on the home page of this web site.
For bicycles less than 2 years old from date of purchasing it new, your bicycle should be insured for the recommended retail price. While the intention of the policy is to provide 'new for old' cover for bicycles less than 2 years old, it is your responsibility to ensure that you insure for a value (sum insured) that covers the replacement cost of the bicycle and all the insured components and accessories.
For bicycles older than 2 years, the correct insured value of your bicycle is the current market value of the bike in its insured configuration (i.e. with all its custom parts and accessories if these are included in your insurance). The best place to establish current market value is visit web sites such as www.ebay.com.au or www.bikeexchange.com.au and look up your bicycle's model and year. For bicycles over 2 years old, our claim settlement will be based on the depreciated value of the bicycle and/or components being claimed. Please see the PDS for more details on how depreciation is calculated in the event of a claim - this may provide you with some additional guidance as to the value you should insure for.
Unfortunately, we are not permitted to provide you with specific advice in this matter, but are more than happy to explain how the policy will respond in the event you make a claim.
Yes, there will be an excess depending on the nature of the claim.
The standard excess for theft is $350. The standard excess for all other claims is $250.
Note: No additional excess applies for carbon components or claims arising from incidents that occurred whilst racing.
Yes we do, provided that the bicycles are all owned and used by the same person. If, for instance, your partner has their own bicycle you will need a separate policy for that bike.
Definitely. All you need to do is to contact us and we will make the additions to the policy. Please note that certain changes/additions may affect your premium. You can ring us on 1300 VELOSURE (1300 83 5678) or email CustomerCare@Velosure.com.au.
Refunds are payable for cancellations, where the premium has been paid annually in advance. The refund amount is calculated on a pro-rata basis less any administration fees payable.
If you bought your bicycle new in the last 30 days we will accept
1. the bicycle’s serial number; and
2. a clear copy of the purchase receipt showing the purchase date and providing full details of the bicycle and all custom parts and accessories that you wish to insure.
If your bike is older than 30 days on the day we issue your policy, you must provide us with;
1. two (2) digital images showing the whole bicycle (left and right hand side images), and
2. one (1) digital image of the bicycle’s serial number.
Each image must be taken in good light, be clearly focused and include within the image, your policy number clearly written on a piece of paper. For cameras with a resolution less than 5 megapixels, the image files for each photograph must be un-resized off the camera. For cameras with a higher resolution, we require a minimum file size of 1Mb.
This is an important requirement of the policy which must be completed within 14 days of us issuing you a policy or the policy will be cancelled and you will not have cover for your bicycle.
In order to keep premiums on your policy as low as possible, it is important that Velosure retains the right to source repairs and/or replacement items from repairers or dealerships of its final choice. We are however mindful of the important role that local dealerships play in providing services to our policyholders and will endeavour wherever possible to secure quotes from these channels as well. In the event of a claim, we will ask you who your local dealership is, so that we can consider them as an option in resolving your claim.
Whether the bicycle was insured or not you need to inform us of any bicycle related losses that you have had in the past three years. It is of paramount importance that we have this information.
If you are in doubt you should inform us.
The maximum sum insured value we permit per bicycle is $30,000. This amount includes the value of the bicycle, additional wheel-sets, custom parts and accessories listed on the policy.
Yes. For the details on security requirements please refer to the PDS.
While at your home
You must ensure that when your bicycle is left inside your home that your home is securely locked whenever there is no one at home.
If your bicycle is left in an outbuilding at your home (such as your garage) or any other fully enclosed building at your home with walls and a roof, these buildings must be securely locked. In the event of a claim we will require you to provide evidence of forcible and violent entry to these buildings.
If your bicycle is left anywhere else on your property it must be securely locked through the frame of your bicycle to an immovable object by an approved lock.
Away from your home
If your bicycle is left unattended while away from your home it must be securely locked through the frame of the bicycle to an immovable object by an approved lock. Go to approved locks to see a description of the locks we approve.
While your bicycle is being transported
If your bicycle is left unattended while it is in, or attached to, any motor vehicle including while it is in transit it must be securely locked through the frame of the bicycle to a properly fixed vehicle bicycle rack with an approved lock. Go to approved locks to see a list of locks approved under a Velosure policy.
Note: All instances involving theft, attempted theft, malicious damage or impact require a police report in order to make a claim.
Yes. You can extend your policy to include things such as panniers, a bicycle computer, racing wheels etc.
Unfortunately we do not insure either sponsored or professional cyclists. The premiums charged on our policies is based on the risks associated with insuring amateur cyclists.
In addition to this, we do not insure:
Yes, but they must adhere to the terms and conditions of the Velosure policy. It is your responsibility to ensure that whoever you entrust your bicycle to, is aware of the obligations you have under your insurance policy.
Yes. We provide cover for young adults and children over 10 years of age. However, because insurance policies are legal contracts, minors require the consent and assistance of a parent or guardian in order to take out a policy.
Unfortunately no. In order to keep premiums at affordable levels to the average cyclist, our Cyclist Liability Cover provides you with financial protection for accidents that happen in Australia only.
The policy provides cover for accidental damage caused to your bicycle by an uninsured driver only. You will need to take out a separate bicycle insurance policy if you want broader cover for your bicycle such as, accidental damage caused to it whilst you are commuting or training or, if it is stolen.
A CLC policy provides cover only to the insured person named on the insurance certificate whilst they are cycling. You are covered even if you are riding someone else's bicycle. However, other people riding your bicycle are not covered by your CLC policy.
Yes, an excess of $1,000 applies to each accident event where a claim is made. The excess applies separately to each cover type.
For example, if a claim is made for damage to someone's car under the policy's Third Party Property Damage Cover, a $1,000 excess will be applied. If as a result of the same accident, a 2nd claim arises for injury caused to the dirver of the car (and you have selected Third Party Bodily Injury Cover), then another excess of $1,000 will apply to this claim against the policy's Third Party Bodily Injury Cover.
Claims for accidental damage caused to your bicycle by an uninsured driver carry an excess of $250.
This depends on the policy you select.
The standalone Third Party Property Damage Cover only policy has a cover limit of $10 million per claimable accident.
The combined Third Party Property Damage Cover plus Third Party Bodily Injury Cover policy has an overall cover limit $20 million per claimable accident.
The additional cover provided by the policy for accidental damage to your bicycle caused by an uninsured driver is $2,000 per claimable accident.
Unfortunately we do not insure:
This is really simple.... simply go to our 'Approved Locks' web page for a comprehensive list of Velosure approved locks.
If you have a lock that is not on this list and believe it is of sufficient quality to meet our insurance standards, please call us on 1300 83 5678 and we will advise you on this.
Velosure is a group of very passionate cyclists who work in the insurance industry. Our goal is to provide affordable streamlined protection for cyclists against all perils. Read more about Velosure here.
Velosure™ is a trading name of Velosure Pty Ltd, ABN 81 151 706 69.
Velosure Bikesurance is issued and administered by the insurer, The Hollard Insurance Company Pty Ltd, ABN 78 090 584 473, AFSL No. 241 436, and is subject to the terms and conditions of the insurance policy as set out in the Product Disclosure Statement available on this website. Velosure Bikesurance is distributed by Velosure Pty Ltd, ABN 81 151 706 697, Level 12, 465 Victoria Avenue, Chatswood, NSW, 2067. Velosure is an Authorised Representative (AR) of the The Hollard Insurance Company Pty Ltd, AR No. 416795. This is general advice only and does not take into account your objectives, financial situation or needs. Before acting on advice, consider whether it is appropriate for you. Read the Financial Services Guide and Product Disclosure Statement before deciding whether to buy the policy.
The Hollard Insurance Company Pty Ltd. ABN 78 090 584 473 AFSL 241436 is Velosure's underwriter for Velosure Bicycle Insurance policy.
The wider Hollard Group now consists of insurance businesses in Australia, throughout Africa, in Europe, India, China and the United States, employing over 1,600 people and arranging cover for more than 6.5 million policy holders. Globally the Hollard Group holds assets exceeding AUD $1.7 billion. Find out more about Hollard Insurance.
Please allow five business days for your insurance documents to arrive via mail. If you haven't received them by that time, please call us on 1300 VELOSURE (1300 83 5678).
If you have arranged to have your documents sent via email, please make sure we have your correct address.