Cracked bike insurance?

[moorey]

(For a non warranty frame).
Surely isn’t a thing, but was discussing a cracked frame with mate’s wife recently, and she says that home insurance has replaced 2 of her husband’s frames. He wasn’t first owner on either, but she rang insurance company, they said to get LBS to quote a replacement, and then covered it.
I was floored, haven’t ever heard of this, and TBH, would feel like a wanker even trying it. No special insurance, just under H&C with RACV. Doesn’t cover a breakage at a race, they specified, but coveted for cracking with general use.
Surely this is insanity, or am I the only one not in the loop. I don’t think I’d even consider it, but anyone one else done this?

 

[LPG]

You know you are about to uncover your mate buying new frames and telling his wife it was covered under insurance...

 

[Stredda]

(For a non warranty frame).
Surely isn’t a thing, but was discussing a cracked frame with mate’s wife recently, and she says that home insurance has replaced 2 of her husband’s frames. He wasn’t first owner on either, but she rang insurance company, they said to get LBS to quote a replacement, and then covered it.
I was floored, haven’t ever heard of this, and TBH, would feel like a wanker even trying it. No special insurance, just under H&C with RACV. Doesn’t cover a breakage at a race, they specified, but coveted for cracking with general use.
Surely this is insanity, or am I the only one not in the loop. I don’t think I’d even consider it, but anyone one else done this?

First time I have heard of it. Probably worth a try though.

 

[moorey]

First time I have heard of it. Probably worth a try though.

I just rang them, (very coyly, and started with ‘This is going to sound like a strange Q, and I think I know the answer….). As expected, it covers theft, or damage to bike if car was on accident while carrying it, but not race damage or wear and tear…which is what you’d expect.

Worth asking for others out there I guess, but still seems ridiculous to even consider personally.

 

[ozzybmx]

Yes, definitely a thing.

My house insurance is with Elders (used to be with CGU but they changed the small print)

Everything I own is insured for accidental damage and theft at home or away.

Each bicycle is treated as sporting equipment and insured for up to $20,000 each.

I know a couple of people who rely on a crash to get new bikes, one I know has had about 3 claims for damaged bikes and gets a nice upgrade each time.

I have never needed to claim for a bicycle, but its there as piece of mind if something did happen.

 

[ozzybmx]

As expected, it covers theft, or damage to bike if car was on accident while carrying it, but not race damage or wear and tear…which is what you’d expect.

Not wear and tear... but if said bicycle cracked when you reversed over it or you had a big crash which resulted in the crack.

 

[moorey]

Yes, definitely a thing.

My house insurance is with Elders (used to be with CGU but they changed the small print)

Everything I own is insured for accidental damage and theft at home or away.

Each bicycle is treated as sporting equipment and insured for up to $20,000 each.

I know a couple of people who rely on a crash to get new bikes, one I know has had about 3 claims for damaged bikes and gets a nice upgrade each time.

I have never needed to claim for a bicycle, but its there as piece of mind if something did happen.

I’m with Elders. I think you’d have to be very loose with the truth…and frankly, a bit unscrupulous…to try this on.

 

[moorey]

Not wear and tear... but if said bicycle cracked when you reversed over it or you had a big crash which resulted in the crack.

That’s a bit different to what you described earlier.

 

[ozzybmx]

That’s a bit different to what you described earlier.

Both are accidental damage.

The crack probably needs a defining time of how/when it happened.

If you were JRA for 10 years and it appeared, its probably not going to gain traction.

Though if it appeared after that massive stack on the 1st November or after accidently reversing over it on the 15th November, you would probably have a new bike... rims buckled, cranks bent, carbon bars and seatpost that would not be ridden again as they may have unseen internal damage... LBS writes you up a $10k replacement cost for an equivalent bike which just happens to be a Alu Transition Patrol.

 

[moorey]

Both are accidental damage.

The crack probably needs a defining time of how/when it happened.

If you were JRA for 10 years and it appeared, its probably not going to gain traction.

Though if it appeared after that massive stack on the 1st November or after accidently reversing over it on the 15th November, you would probably have a new bike... rims buckled, cranks bent, carbon bars and seatpost that would not be ridden again as they may have unseen internal damage... LBS writes you up a $10k replacement cost for an equivalent bike which just happens to be a Alu Transition Patrol.

Like I say....playing loose with the truth. Not for me.

 

[Minlak]

@ozzybmx has it sorted - 100% if you have accidental damage your cracked frame is covered. It covers anything else in the home you drop or break hence the name accidental insurance - I had this on my bikes were covered for everything unless I was racing it at the time.

 

[moorey]

@ozzybmx has it sorted - 100% if you have accidental damage your cracked frame is covered. It covers anything else in the home you drop or break hence the name accidental insurance - I had this on my bikes were covered for everything unless I was racing it at the time.

I'm starting to see why my premiums are so high despite never making claims. I'm quite uncomfortable with some of these discussions.

 

[birddog69]

Both are accidental damage.

The crack probably needs a defining time of how/when it happened.

If you were JRA for 10 years and it appeared, its probably not going to gain traction.

Though if it appeared after that massive stack on the 1st November or after accidently reversing over it on the 15th November, you would probably have a new bike... rims buckled, cranks bent, carbon bars and seatpost that would not be ridden again as they may have unseen internal damage... LBS writes you up a $10k replacement cost for an equivalent bike which just happens to be a Alu Transition Patrol.

I have had two bikes replaced under insurance where they were destroyed through no fault of my own and one frame that developed a crack. The first 2 were replace with brand new bikes. My Canyon Exceed was dropped by someone (not me) while unloading from a car roof. Righ side chain stay made direct hit on the edge of a large, sharp rock and cracked it. Insurer sent me the cash for a new frame which I bought.

 

[ozzybmx]

Like I say....playing loose with the truth. Not for me.

Yes a bit of creativity may be required.

The insurance company has boxes it needs to tick.

Not sure what stories people come up with or how creative they are but it happens a lot.

 

[Minlak]

I'm starting to see why my premiums are so high despite never making claims. I'm quite uncomfortable with some of these discussions.

Why would you be uncomfortable? I paid the premium they asked - it’s in their PDA - it’s a valid form of insurance and I never lied about any claims I ever made on any insurance ever

 

[moorey]

Why would you be uncomfortable? I paid the premium they asked - it’s in their PDA - it’s a valid form of insurance and I never lied about any claims I ever made on any insurance ever

What you guys are eluding to isn't covered without stretching the truth or intentionally defrauding IMHO.

 

[moorey]

My Canyon Exceed was dropped by someone (not me) while unloading from a car roof. Righ side chain stay made direct hit on the edge of a large, sharp rock and cracked it. Insurer sent me the cash for a new frame which I bought.

This would be covered, yes.

 

[moorey]

Yes a bit of creativity may be required.

More than a bit possibly. I'm not here to say anyone should or shouldn't, just that I wouldn't.

 

[Squidfayce]

I'm starting to see why my premiums are so high despite never making claims. I'm quite uncomfortable with some of these discussions.

You're supposed to offset your premiums by making claims . Its like health insurance for your bike lol.

 

[leitch]

More than a bit possibly. I'm not here to say anyone should or shouldn't, just that I wouldn't.

As above there's always going to be shades of grey. A crack on a weld in an 8yo aluminium frame that's 2nd or 3rd hand like the Banshee is wear and tear for sure. A big crash that leads to a cracked chainstay? Depends if your insurer covers it under use. A big crash that leads to a cracked chainstay presented as a "ladder fell over in the garage and cracked the chainstay" because the insurer won't cover it under use? Fair game.