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Bike Insurance Q&A

If you have a question about your bike insurance, please look through our frequently asked questions below. If you cannot find the answer to your question, please contact us on bike@realinsurance.com.au.

Important note:

The following questions are to be used as a reference guide only and do not substitute or replace your insurance contract, the PDS or Certificate of Insurance.


Am I covered if I lend my bike to another person?

Yes, if they follow the terms and conditions of the RealBike Insurance Product Disclosure Statement.

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Am I covered while travelling overseas with my bicycle?

With RealBike Insurance, your bicycle is covered while you are travelling anywhere in Australia and New Zealand. For trips anywhere else in the world, you need to let us know where you’re taking your bicycle, and we must confirm your cover in writing.

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Are there any specific security requirements if I transport or store my bicycle?

Yes. To make sure you’re covered under RealBike Insurance, here are the main security requirements for storing and transporting your bike.

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 (such as your garage) or any other fully enclosed building with walls and a roof, these buildings must be securely locked. If you make a claim, you will need 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 with 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 with an approved lock. See What are approved locks?

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, or 
  • Locked in an enclosed boot that is not accessible by removing any partition or breaking a window

For more information on security requirements, please see the Product Disclosure Statement.

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Can I add or make changes to the policy at any time?

Definitely! Just call us on 13 19 48 or email bike@realinsurance.com.au.

Please be aware that certain additions may affect your bike insurance premium.

Refunds are payable for cancellations. The refund amount is calculated on a pro rata basis less an administration fee.

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Do I need proof of ownership?

Yes, you do need to provide proof of ownership. Your bicycle is covered as soon as your bike insurance policy starts if you purchased the bicycle new in the preceding 30 days (you will need to send us proof of purchase within 14 days of buying this policy).

If your bicycle is older than 30 days, you will need to have your local bicycle shop complete and sign the ownership verification section on your cover note, and then fax this to us before we can start your cover. Please note that we cannot cover you until we receive your proof of ownership.

If you would prefer to complete the proof of ownership before purchasing your policy, please print out a blank Proof of Ownership Form and send it to us once completed.

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Do you cover more than one bicycle on a policy?

Yes we do, provided that the bicycles are all owned and used by the same person. If your partner, for instance, has a dedicated bicycle you will need a separate bike insurance policy for that bike.

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Do you insure professional cyclists?

Unfortunately, we do not insure professional cyclists.

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Do you only cover Australian citizens?

No, you don't have to have Permanent Residency or Australian citizenship to get bike insurance cover. You can be in Australia on a visitor visa, but you must live in Australia on a permanent basis.

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I have previously made a claim for a bicycle. Will this affect my cover?

Whether the bicycle was insured or not, you need to tell us about any bicycle related losses that you have had in the past three years. It is very important that we have this information.

If you are in doubt about whether an incident is relevant, please call us on 13 19 48.

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Is there a minimum and maximum age for the person insured?

We offer bike insurance to cyclists aged between 18 and 85 years. If you are older than 85 years and need to have your bike insured, please call us on 13 19 48 and we will try to help you.

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Is there an excess payable on bicycle insurance?

Yes, there is an excess for bike insurance, and the amount depends on the nature of your claim. Excess for theft is $350, while the excess for all other claims is $250.

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What are approved locks?

You need to establish if your bicycle lock is appropriate for the value of your bicycle. If you believe that your lock should be on the list, please call us on 1300 277 002 or email us at bike@realinsurance.com.au.

The locks we currently approve can be viewed here.

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What happens if I already have Personal Accident cover through my club insurance?

Our Personal Accident cover will pay your benefit whether your club insurance pays for the claim or not.

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What is the maximum bicycle value you insure?

The maximum value for bike insurance per bicycle is $20,000.

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What type of bicycle do you cover?

RealBike Insurance covers any bicycle, tricycle or tandem powered by human pedalling.

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What value should I insure my bicycle for?

You can find out from your local bike shop what the normal replacement value of your bicycle and attached accessories would be. Make sure that the replacement value they provide you with is a normal retail price and not a sale price.

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Why do I need bicycle insurance?

Standard contents insurance may not provide you with adequate cover for your bike. Here are some examples of events that we cover at RealBike Insurance:

  • Your bike is stolen from a coffee shop after your ride
  • You have a $5,000 bike on your car roof racks and drive into a parking lot, forgetting the bike is there
  • You have a bad crash with your bicycle while competing in a race
  • You hurt yourself in a serious crash while racing
  • Your high value bike (between $1,000 and $20,000) is stolen from your home

Bicycle insurance is designed to cover these types of specific bike incidents, and you don’t need to take out contents insurance to be covered!

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