Like most things in life, riding a bike isn't without risks, and while it isn't compulsory to have insurance, it's important to understand the risks and what you can do to ensure you have the right support to minimise the impact on you and your loved ones if something does go wrong.
There are different types of insurance you might have that offer coverage if you're injured while riding your bike. For example, Medicare, superannuation, or private health insurance. Another option is to sign up for a Bicycle Network Premium Membership.
One of the most common questions we get from current and prospective members is "why do I need a Bicycle Network membership if I've already got private health insurance?".
It's a great question. It's important to acknowledge the intention of each product. Private health insurance covers you for a range of activities and provides access to hospital cover and services for a range of health conditions. A Bicycle Network membership covers you while riding your bike only.
There are also benefits that overlap between each product. Some rehabilitation benefits, physiotherapy for example, are covered under both. However, you'll need to purchase extras cover as part of your private health insurance to access those benefits and it depends on your level of cover to determine the benefits and benefit limits that are available to you.
With that in mind, our bike riding insurance has been designed so the benefits supplement your existing insurance policies (i.e. private health insurance and Medicare) and to provide additional coverage for things that they don't cover. Our insurance covers you in three very important ways every time you ride: medical coverage, income protection, and third-party liability coverage.
Get to know more about who our insurance covers, how it works with your private health insurance policy and what value it offers below.
Who does it cover and when?
Bicycle Network's bike riding insurance covers all types of riders, whether you’re a commuter, mountain bike rider or social weekend rider.
Our members are covered when sustaining an injury during recreational or commuting bike riding or participating in a Bicycle Network event. However, our insurance doesn’t cover those while racing and some benefits that do not apply or are reduced when riding for commercial benefit.
What we offer that others don't
The real value of our insurance and how it differs from the rest is clear beyond initial treatment, where we support you on the road to recovery.
With income protection as standard in our policy, we’ll pay 85% of your weekly salary up to $1,000 for 52 weeks if you’re unable to work following an incident. We’ll also cover your private health medical excess, too.
In addition, our coverage includes services not found in standard private health insurance policies, such as access to taxis and rideshares to help you if you’re unable to drive, childcare benefits and modification expenses, to name a few. You can read the full insurance summary here.
Our Riders’ Rights Team can also help you understand your rights following a crash or altercation – providing information over the phone and support with insurance claims to help recover costs from a third party. You’re also eligible for an initial consultation at no charge with our partner law firm, Maurice Blackburn, if further legal advice is required.
Cost and benefits of Bicycle Network membership versus the average private health policy
From just $133 per year for an individual ($113 for concession holders) to $187 per year for a family of 3+, our Premium Membership is packed with benefits for just a fraction of what you will pay for the average private health policy.
According to figures released by Canstar, the average annual cost of combined hospital and extras health insurance for a single person aged between 36 and 59 was $3,456. For a standalone extras policy, the annual average cost ranged from $877 for low level cover up to $1,157 for top extras cover. That's almost ten times the amount of a Bicycle Network membership for much less when it comes to the yearly benefit limit and cashback percentage.
For $2.56 a week, Bicycle Network members enjoy 85% cash back on physiotherapy, chiropractic and Osteopathy treatment with up to $10,000 of treatment per year.
To compare, we checked out the extras only policies from several leading health insurers. Bupa's premium extras only policy, Top Extras Boost, only offers 80% cash back at specified service providers and includes a combined annual limit of $1,150 for physio, chiropractic and osteopathy treatment at a cost of $30.89 a week ($1,606.53/year).
GMHBA's top extras cover is their Top Extras 75% policy. For $24.05 a week ($1,252.75/year), it offers 75% cash back and includes an annual limit of $500 for physiotherapy and a combined annual limit of $350 for chiropractic and osteopath treatment.
For less than $3 per week, you’ve got the added benefit of income protection and third-party coverage ($5m limit for injuring another person or damaging their property), both of which aren’t covered in a standard health insurance policy.
Even better, while private health insurance premiums are growing faster than inflation, our membership cost has only increased a few dollars per year for the last five years.
How it works with private health insurance?
Our policy is designed to support you from initial medical treatment through to rehab and recovery, filling the gap in areas not covered by Medicare or private health insurance as well as helping you get more money back in your pocket following treatment.
If you use your private health insurance for treatment, such as visiting a physiotherapist, you can also claim the gap through your Bicycle Network insurance. For example, if your physio charges $100 for treatment and your private health only pays 80% of the treatment, you can claim the $20 gap and get 85% back. It also means you don't have to pay any excess on your claim with us.
Your membership goes towards advocacy
While you receive tangible benefits from our insurance as a Bicycle Network member, a growing member base allows us to continue to advocate for your rights as a bike rider.
Our advocacy work is focused on improving bike riding conditions, building more facilities, and creating fairer legislation that will help us encourage more Australians to experience all the benefits that riding a bike has to offer.
Learn more about our latest advocacy work in your state.
Get to know more about our membership and sign up for Bicycle Network membership and start enjoying the benefits now.