As an enthusiastic cyclist and solicitor that is one of the most common questions, I get asked.
It’s a complicated area but my answer is a resounding yes, particularly noting that not all injury accidents are covered by the NSW CTP scheme or workers compensation schemes.
I have trauma insurance, life insurance and third-party liability insurance. And if you ride a bicycle, you should too.
Many home or renters’ insurance policies will cover your bike, but typically to a low financial value unless specifically agreed with the insurance company. Say your bike is valuable and in the $1500-$5,500 range, you may be surprised by the standard low replacement cost your home contents insurance offers even before your excess is applied. If you have an expensive bicycle, you will need to increase your coverage just like you would for art or jewellery. You may pay more on your monthly premium but it’s better than being devastated to lose one of your most cherished possessions.
Let’s face it, accidents happen. You may not know that Bicycle NSW Membership automatically gives you additional insurance coverage for personal accidents and public liability as part of their worldwide insurance coverage. This provides coverage for you and your family for losses when things go wrong in a bike accident. For example, if you were riding and accidentally struck a pedestrian and that person decides to sue, you will have peace of mind that you are covered. As with all insurance however it’s important that you know the limits of what is and isn’t covered, so head over to the Bicycle NSW Personal Accident and Public Liability page to learn more.
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If you’ve been injured in a bicycle accident in NSW involving a motor vehicle or during the course of your employment, you may be entitled to claim compensation. Bicycle NSW Membership allows you to pursue your motor accident injury claim with Advantage Legal, the official compensation legal partner of Bicycle NSW. Our team of experts will answer all your questions, develop a tailored strategic plan just for you and maximise your compensation, all on a no-win, no-fee basis.
As a Bicycle NSW member, you’re also entitled to a discount on our professional fees of up to 5%. Pursue a compensation claim with Advantage Legal and you’ll also receive free assistance pursuing an insurance property damage claim for your damaged bicycle.
Over the last decade, I’ve represented many bicycle riders who were physically and psychologically devastated after being hit by a car. They often faced months and months of recovery time. Some had to fight their way back over several years. Although basic medical expenses were covered, their physical pain and suffering were unmeasurable. I have represented riders who had to fight every inch of their way for fair compensation, and I can say the insurance companies did not make it easy. Recent changes to the NSW CTP scheme have drastically changed rights and benefits for all people injured in car accidents, including cyclists.
As cycling is becoming more popular, more cyclists will need to take control of their insurance protection. My best advice is to review your insurance policy and talk to Bicycle NSW about the right insurance coverage for you. Remember, you purchase insurance with the hope you never need to use it, but you will be glad that you had taken the right steps should you ever face a serious accident.
Bicycle NSW would like to invite all recreational and active transport bicycle riders to join the Bicycle NSW Family. Individual membership starts from just over $2 per week and family membership offers full coverage for under $1 per week (family of 4). Ride with peace of mind knowing that you and your family are covered by their worldwide insurance policy and enjoy many other Member only benefits.
As a member, you support Bicycle NSW to be the leader in bicycle advocacy in NSW. Bicycle NSW has the ear of the government and works tirelessly to create a better environment for all bicycle riders in NSW.
This information is for educational purposes only and should not be relied upon as legal or financial advice. Any person relying on the information contained in this article does so at their own risk. Liability is limited by a scheme approved under Professional Standards Legislation.
By Leigh Davidson
Principal Solicitor, Advantage Legal
