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How much is your insurance costing you?

Insurance can be a tricky thing. Include the big shot words like indemnity, premiums, excess, deductibles combined with the bad rep of the insurance industry, you may find the last thing you want to know is how the cost of your insurance policy is set. 

Read on as upcover chats about what to think about when you’re protecting your stuff so you can manage your spend and get the cover that best suits your needs.  

Why does the cost of insurance matter in the first place?

Insurance is a promise of assistance when things go wrong. So when something unfortunate happens, your insurance provider will be by your side, help pay your claim, and support you while you get back on your feet. 

However, insurance is supposed to be a compliment to your living standard and circumstances. Here’s why:

1. NecessityBike

For example, if you are a student who constantly moves around, will you ever need home insurance? Most probably not, so you’ll look for something that covers the bare essentials – your car or scooter – or maybe choose a cover that involves asset-only insurance so you can satisfy those 3 am pancake cravings without worrying about your stuff getting nicked or damaged in a fire.


2. Effectivenesscost effective

Another factor you’ll keep in mind before getting a product like our delivery insurance (or any insurance for that matter) is the cost. As a freelancer or student, money can get pretty tight and you really want value for what you pay- that’s where you’ll look for a policy that is affordable and matches your needs.


cost of laptop insurance3. Add-ons

As a freelancer or on-demand worker your most important things to protect are your equipment – can be your bike or laptop
– and likely your clients might need you to take out public liability insurance. You can bundle these together to get savings, but there are ‘add on’ insurance covers too. Say personal accident insurance could add a further $8/week, which can make sure you’re covered for any injuries and loss of income if something happens while you are working. 

If you buy way too many unnecessary add-ons or insurance you probably don’t need, it can likely be too expensive and you’ll wonder as to why you bother with it. And vice versa, if it is too little, you’ll have to shell out your hard-earned savings when something bad happens – like an injury at work. 

That’s why the cost of insurance – and the right type of cover – is a good way to keep track of your life and pay for much-needed care. Just like with upcover, food delivery riders can protect their bike, themselves and those around them while they work at affordable prices – being the perfect complement to their busy life! 

Listen to David on his experience as a food delivery rider and some nasty costs he had to shell out. 



What’s the average cost of insurance?

Depending on your needs, your insurance provider will offer you an initial quote. With the quote, you can choose to shop around and look for the best price. 

At upcover, our bike insurance ranges between $8-$12/week. And our personal accident and public liability cover for delivery work ranges from as little as $1-8/week.  

Since we are the first insurtech to offer insurance just for food delivery riders, you can check out how we compare with UberEats and Deliveroo insurance policies here

How do we calculate your price?

That’s the question we get asked a lot. 

upcover is a new age insurtech startup whose pricing model breaks down the traditional commercial insurance policies, which can sometimes take weeks for you to complete and compare, to one bite-sized price for all your on-demand and contractor work. 

Now, you can simply answer a couple of questions asked by our virtual assistant, Carmel, and boom, you have a quote within seconds. Our products are built frm the ground up to suit your needs and our pricing is so good that you won’t even have to look around. 

What matters when it comes to determining the price of insurance policies?

The process of getting your price can change a bit from one insurance company to another.  Sometimes you’ll have to answer 50 or more questions to get a price. 

At upcover, we will only ask you about a few things. These include:

  1. Your bike
  2. Your address
  3. Number of claims filed in the past 12 months
  4. Delivery platforms you work for
  5. How much you earn each week

Once you give us these details, we can offer you our best price and you can choose to buy cover now or down the track. 

What about extra charges?

Nope. upcover really doesn’t do that. We will offer you a price that includes all the taxes (i.e. GST, stamp duty, what’s called an Emergency Services Levy, and even the pesky payment processing fee). And if you decide to cancel cover with us, we will even refund it all or what you didn’t use without any hassle. 

Insurance can be a tricky thing. At upcover, we are doing our bit  to simplify this process for on-demand workers to have access to affordable, easy, and simple insurance that fits perfectly in your life – at home, at work, or in between. 

Reach out to us at or 1300 UPCOVER if you have any more questions on how to deal with anything insurance. 


About upcover

At upcover, we are committed to improving the safety of riders by providing support, resources and financial products to help them at work, at home and in between. upcover bridges the protection gap for the fastest growing workforce in Australia by providing the self-employed and independent contractors with the insurance protection and benefits they need.