Riding a bicycle has evolved from just being an alternative mode of transportation to becoming a hobby or sport. Whatever the reason is, cyclists are part of the usual traffic in every country, not just in Australia. They should be given the same number of rights as everyone else who is riding a vehicle.
Along with those rights are the responsibilities that cyclists should always keep in mind. This includes following traffic rules and complying with the specific laws and regulations that apply to them. It is not uncommon for cyclists to experience unfortunate events. This can include road accidents that might lead to injuries or damage to the bicycle itself.
So, should cyclists have insurance?
In this article, Insurance Business Australia will focus on some of the reasons why cyclists in Australia should have insurance. We will also discuss what to look for in cyclist insurance providers.
If you have clients who are cyclists, this article will help you recommend that they get themselves and their bicycles insured. You can choose from the list of insurance providers that offer cyclist insurance in the latter part of this article.
Short answer: no. Cyclists in Australia are not necessarily required to have insurance. It is optional but cyclists are highly encouraged to get insured. Bicycle insurance policies usually cover not only the cyclist but also their bicycles against the following unwanted events:
There are also home and content insurance policies where coverage for bicycles can be added with additional premiums. Standalone cyclist insurance is separate and will have different terms and conditions.
There are many types of insurance for cyclists in Australia. If you are shopping one for your clients, here are vital factors to consider when it comes to the insurance itself and the insurance providers:
You should also review what the cyclist insurance policy covers and what it excludes. Go for an insurance provider that is well known for reliable and responsive support so that your clients can experience top-notch service. Work with the best insurance companies in Australia and discuss if they offer cyclist insurance for your clients.
As for the cyclist insurance policy, you need to check:
Before we explore the main reasons why cyclists should have insurance, here is a video about a phenomenon called ‘Lycra rage.’ It is where spandex-clad cyclists are subconsciously seen by motorists as less than human and it's resulting in cyclists being run down and even killed in record numbers. You can watch it below:
For insurance brokers with clients who are into cycling, you should recommend that they take out cycling insurance. There are a lot of factors to do so such as safety and compensation if anything happens. Here are five reasons why cyclists should have insurance:
Let’s discuss each reason why cyclists should have insurance in Australia:
If health hazards are present in driving motorcycles and cars, it’s the same in cycling. Bicycle riders must be aware of that. Road accidents such as crashes and collisions are risks that cyclists should always keep in mind since they are more prone to face serious injuries that can even be life-threatening.
Recommend cyclist insurance to your clients who are into cycling. This will serve as a guarantee that they have a safety net to turn to if anything comes up.
Does bicycle insurance cover injuries?
Yes. There are many policies that cover not only personal injuries but also untimely death of cyclists.
There might be some incidents when the cyclist is the one at fault for a road accident. With cyclist insurance, your clients are covered when third parties file a case against them. A lot of these insurance products have public liability coverage for such events.
Travelling is one of many reasons why some people are into cycling. This can be within Australia or taking one’s bicycle overseas to explore tourist attractions.
Unfortunate events can occur and might spoil the experience for your clients. If they have cyclist insurance that has travel coverage, this protects them and their bicycles overseas. This also safeguards their bicycles during transit whether your clients are travelling by ship or airplane.
Getting insurance for cyclists is a must, especially when they join bike races or ride extra-long distances in organised sportive events. Accidents might happen when cycling on difficult terrains, and long rides can speed up the wear and tear of your clients’ bicycles.
Cycling in large groups is also more prone to bicycle pile ups. Having insurance for cyclists will protect them from such risks.
Check out this video where six cyclists were injured in a major pile up in Sydney. You might want to use this multi-bike collision as an example when recommending cyclist insurance to clients:
Bicycle theft is not uncommon in Australia. This can happen in one’s own home or outside when parking in public. It does not matter where a cyclist is; their bicycle always carries the risk of getting stolen. This is especially true for high-end bicycles.
As such, getting cyclist insurance will cover your clients’ bicycle costs if this unfortunate event happens. Most insurance policies for bicycles offer coverage for theft whether inside or outside the client’s home.
Aside from these five reasons why cyclists should have insurance, coverage for bicycle accessories and during recreational events should also be considered. You can discuss these benefits with insurance providers to get the best option for your clients.
Finally, you can recommend cyclist insurance to clients who want to worry less and have peace of mind with their cycling hobby. Being aware of the risks involved in cycling is not enough. Your clients can minimise their worries if they are insured, as well as their bicycles.
Here are some insurance providers in Australia where you can shop for cyclist insurance on behalf of your clients:
Velosure has cyclist insurance that covers personal and accidental damage, theft, and crashes. They offer their insurance products to clients who use their bicycles to commute and for sport. Velosure also allows extension for insurance coverage if your client is travelling to another country. This is under their Premium Bicycle Insurance policy.
QBE offers cyclist insurance that covers:
You can help clients get coverage under QBE’s Portable Contents option for an extra premium. This can be additional coverage if your client has an existing contents insurance policy under QBE.
Learn everything you need to know about QBE when you read this company overview.
Do you have clients who want to insure their high-end bicycles? Go for NoWorries Insurance’s cyclist insurance offerings. This insurance provider has insurance that covers custom parts and bicycle accessories. You can also ask them for benefits such as bicycle replacement cost.
Real Bike Insurance offers insurance for cyclists and their bicycles. Their insurance products have similar coverage and benefits as Velosure. Both insurance providers have the same underwriter.
If your clients are cycling for sport, Bikesure is a good choice to get them insured. They have two policies:
These insurance products cover cyclists in and out of the country during bicycle competitions.
Cycleclover has insurance services available for cyclists where they have two options. They can either choose standalone cyclist insurance or have it with a home and contents policy. Cycleclover’s home and contents policy is competitive, and it automatically includes coverage for your clients’ bicycles. This also includes coverage for racing and training events.
This insurance provider is located in Victoria and offers insurance products for cyclists residing in the area. Cyclist insurance policies of Swann Insurance have coverage for accidental damage and theft. They also cover third party property and personal damage. This includes injury and death.
Definitely. Bike protection plans as well as insurance for the cyclists themselves are worth every dollar. Not only will your clients feel safer, but they will also have the guarantee that they can file for insurance claims if something happens to their bicycles.
Overall, recommending cyclist insurance to your clients who are into cycling is a must for insurance brokers. As a professional working in the insurance industry, you should strive to be one of the advocates for cyclists to get insured. If motorcycle riders and car drivers have that safety net, cyclists should have insurance too.
Can you share other reasons why cyclists in Australia should have insurance? Tell us what you think in the comments section below.
