Bike and e-bike insurance
Bicycles and e-bikes are a fantastic investment. Whether it be for peace of mind, guarding your beloved pride and joy, or ensuring a means of transport, e-bike insurance for theft and/or damage can be an important consideration for many people.
Owning an electric bike or thinking about buying one means being prepared for a considerable financial outlay. Entry-level e-bikes of good quality begin at a few thousand dollars, with the high-end models reaching up to $12,000 plus. With such an investment, making sure you have proper e-bike insurance coverage for theft or damage becomes a necessity.
Bicycle NSW's bike insurance partner - Insurance4That
Bicycles are becoming more and more practical for cost, health, sustainability reasons. With the rising popularity of cycling, the demand for Bicycle NSW's comprehensive insurance coverage has also grown. However, this insurance doesn't cover the actual bicycle.
Home and contents policies, and other insurance policies, generally provide limited protection for bike insurance. Traditional homeowners and renters insurance often have restricted provisions for theft, damage, or liability concerning e-bikes, because they can be categorised as motorised vehicles. Importantly, auto insurers may not cover e-bikes as they are not registered vehicles, nor do e-bike riders need a driver's license.
Why Insurance4That?
Bicycle NSW's e-bike insurance under Insurance4That provides simple and affordable single item insurance. It allows you to protect selected items against loss or damage from theft, fire, flood, cyclone or storm. For bicycles (often referred to as portable items), it offers you the option of taking theft and accidental damage cover anywhere in Australia - giving you added peace of mind.
IAG's alliance with Bicycle NSW has enabled them to offer exclusive insurance products designed specifically for the cycling community. This collaboration aims to provide the community with peace of mind, knowing that their valuable bikes are protected against a range of risks.
Our Insurance provides a range of protection options for bike insurance covering all bikes against different types of damage and loss. Here are just some of the key features of their bike insurance policies:
- Accidental damage: Covers the cost of repairs or replacement if your bike is accidentally damaged.
- Theft: Provides coverage if your bike is stolen, whether from your home or while you're out and about.
- Fire and flood: Protects your bike against damage caused by fire or flood.
- Racing cover: Included as standard when you choose the optional accidental damage cover, ensuring your bike is protected during competitive events.
- Flexible payment plans: Choose from weekly, fortnightly, monthly, or annual payment plans, with a 10% discount for annual payments.
Bike Insurance policies are issued by IAG, an insurer with a strong track record. Bicycle NSW Members can enjoy an additional 10% discount on their premiums using a member promo code.
Product Disclosure Statement (PDS)
Bicycle NSW recommend reviewing the PDS for detailed information about the coverage, terms, and conditions of the policy including:
- Amounts payable for different types of claims.
- Conditions and exclusions not covered by the policy - eg. wear and tear, mechanical or electrical breakdown, and damage caused by improper use or maintenance.
- What to do if you need to make a claim
- How premiums are calculated and how to make payments
- What to do and any fees if you need to change or cancel the policy
For more information on personal belongings insurance - check out the MoneySmart.gov.au Contents Insurance page.
Do I have to be a Bicycle NSW Member to get bike insurance?
No!
Of course we'd love for you to be covered by personal comprehensive insurance for full peace of mind, and support our advocacy and community building work. However, anyone is welcome to get a quote or sign up for bike insurance.
I'm already a Bicycle NSW Member!
To get the discount code, log into your Bicycle NSW Account and click Member Benefits.
I still have more questions!
This Insurance4That page features some frequently answered questions. If you have more questions, you can submit an enquiry via the Insurance4That website. Their team will come back to you within 48 hours with answers to your query.
Unfortunately the Bicycle NSW team is unable to help with insurance questions about your specific situation. However we're happy for you to contact us with any general questions you may have.
Bicycle NSW is here to support our Members
To enable Bicycle NSW to continue to provide competitive insurance products for our Members, we'd love to encourage you to join Bicycle NSW and support our advocacy for better infrastructure and safer streets. You will also ride easy, covered by our comprehensive insurance and enjoy many other Member-only benefits.
Bicycle NSW is the only bicycle advocacy group based in NSW with full time staff advocating every day for all riders, and is only funded by membership fees and donations.
FAQs
Insuring an e-bike protects against theft, damage, and liability - giving peace of mind for your valuable investment.
Sometimes. Some home insurance policies may cover electric bikes, but often only for theft at home. It is very unlikely that damage, accidents, or theft away from home will be covered. Check with your insurer for details.
Yes, IAG in partnership with Bicycle NSW has been a trusted name in the e-bike insurance industry for years, specialising in providing coverage for electric bicycles. Their alliance with Bicycle NSW has enabled them to offer exclusive insurance products, including e-bike insurance, designed specifically for the cycling community.
E-bike insurance in Australia will typically start at $8 per month, depending on coverage and the bike's value. Get a free quote.
Yes, e-bikes can be tax-deductible in Australia under certain conditions:
- For Employees: If an employer provides an e-bike for commuting or work-related travel, it is not clear that a specific exemption from Fringe Benefits Tax (FBT) exists. Bicycle NSW recommends seeking advice for your specific situation.
- For Self-Employed Individuals: You can claim a tax deduction for an e-bike if it's used for work-related purposes, such as traveling between job sites or visiting clients. Personal use must be minimal, and accurate records should be maintained.