How much do you pay for bicycle insurance?

How much you pay for bicycle insurance in Australia depends on the value of your bike and the type of cover you choose. For specialist comprehensive bicycle insurance that covers crash damage while riding and theft anywhere, which is offered by Velosure, Cyclecover and BikeCover, you pay about 8% to 12% of your bike's insured value per year. So if your bike is worth $2,000, you pay $160 to $240 per year or about $13 to $20 per month. If your bike is worth $5,000, you pay $400 to $600 per year or $33 to $50 per month. If your bike is worth $10,000, you pay $800 to $1,200 per year or $67 to $100 per month. If your bike is worth $15,000, you pay $1,200 to $1,800 per year. This price includes new-for-old replacement, accessories, and transit cover. Factors that increase what you pay include living in high-theft postcodes like inner Sydney, Melbourne or Brisbane, having previous theft claims, choosing a low $100 excess instead of $500, and adding racing cover which adds 20-30%. For cheaper cover, adding your bike to your home and contents insurance costs $50 to $200 extra per year on top of your home policy for a bike up to $5,000, but it only covers theft, not crash damage. For liability and personal injury cover only, you pay $129 to $169 per year for Bicycle Network membership or $99 to $380 per year for AusCycling membership, which does not cover damage to the bike itself.