If you are a cyclist, you likely value your bicycle very much. It may be because it is an expensive piece of engineering, or you may have modified it to make it uniquely yours. You likely also know that you are always at risk of injury when you go out on the road. Because many things can happen to you or your bicycle, you need coverage if they do. Having a dedicated bicycle insurance policy can help you in these and other instances. Here are the different reasons why all cyclists should get bicycle insurance.
Theft
Theft is a widespread problem for cyclists, and things seem to be getting much worse. It is estimated that a high-end bike is stolen every two minutes around the world on average. This means that your beloved ride will always be at risk of theft.
More expensive bikes are usually not insured under a home insurance policy, meaning you may be alone if your bike ever gets stolen. Bike insurance can help pay for a new bike or refund you the value of your old bike. Many of these policies will protect you and ensure you are made whole whether your bike was stolen at work, at home, or in the streets.
Coverage While Travelling
Many cyclists enjoy participating in competitions around the world. Some of them also enjoy visiting different places or going on road trips to different countries around the world. In all these instances, you need the bike to come with you. The problem is that your bike is at risk of getting damaged or lost in transit, whether you are taking a short flight or a transcontinental one.
Bike insurance can help protect you from this damage or loss. Some policies also cover the cost of bringing the bike with you and will provide additional cover from theft in your destination for some time, usually 60 days.
Personal Injury
One of the more important reasons why every cyclist should have bicycle insurance is to help them out in case of personal injuries. In many cases, cyclists will not have to make a claim because the injuries may be superficial. However, in the case of a serious injury, a cyclist has to let their insurance provider know that they have been in an accident and thus need help.
Bicycle insurance will usually cover medical expenses and hospital bills up to the policy limit. This can include immediate medical expenses or long-term medical expenses such as physiotherapy, multiple surgeries, or even dental reconstruction. This sum is usually calculated as the deductible on your health insurance policy, although some insurance providers will pay the whole sum up-front.
Some insurance providers will also cover lost income, although many offer this option at a premium price, so be on the lookout for that.
Personal Liability
Sometimes, cyclists are at fault on the road, and they are the reason why accidents happen. Granted, a cyclist is not always at fault in these accidents. These accidents are common in busy streets where there are many cars, which makes it hard to determine who was at fault for the accident. Before you assign blame or accept liability if you are a cyclist hit by a car, you need to follow the right procedure. This includes collecting evidence, not fleeing from the scene, allowing the EMTs to check you out, and cooperating with the police.
If you are found at fault, you might be personally liable for property damage, injuries to other parties, and even death. Bicycle insurance can help in these cases, as this blog on a cyclist hit by a car explains. If you are at fault and are liable, the insurance will step in to pay for the liability. You can get bike insurance through Velosurance, which covers personal liability and injuries, theft, destruction of property or your bike, and the loss of your bike. Velosurance understands the world may not be perfect and that you need protection for those times when things go wrong by having someone on your side.
Accidental Damage
In many cases, bikes get damaged without their owners knowing it. This type of damage can be dangerous for cyclists as well as other road users. Bicycle insurance can cover these types of accidental damages such as fork bends and cracked frames. The damages covered in this clause are usually no one’s fault. However, cosmetic damage such as wear and tear is not considered accidental damage.
There is no doubt that avid cyclists love their bicycles. Many would-be devastated if something happened to their bicycle, and this is why bicycle insurance is always a great idea. While you might not end up with your old bike or end up with a repaired bike, you do not have to incur the cost of losing or replacing it. These policies also cover cyclists under various circumstances.
Featured Photo by Brodie Vissers from Burst
