Most people prefer to use homeowner insurance for their bikes. By far, this is the most favored way to protect bicycles. However, there is one more option to consider: special bike insurance. Experts say that it has multiple advantages for committed cyclists. Before we find out what you need to get this insurance, let’s consider its pros.
Special bike insurance
In general, this kind of insurance was created for active cyclists. It covers multiple things that are not included in homeowner insurance. For instance, you can receive compensation for kit damage in a race or lost bike accessories as well as cycle clothing. In case you cause an injury to another person, you will also get coverage. What’s more, a company can pay for race fees and roadside assistance services. Additionally, special insurance usually works for all family members.
What do you need?
Many people think that getting bike insurance may be quite difficult. However, it’s not really true because you don’t need to do anything special about it. Most importantly, you have to read the policy carefully in order to make sure that you understand your obligations. Note that some agencies don’t cover any off-road action, so you must be aware of that before buying insurance. Also, most companies require you to lock up your bicycle properly in order to avoid risks. Usually, cyclists are obliged to wear a helmet and use front or rear lights to get their compensation in case of an accident. When purchasing a new bicycle, don’t forget to add it to your policy the day you get it.
The process of getting insurance is pretty simple. You will be requested some basic information, including your age, home address, bicycle value as well as its type, serial number, and model.
Types of insurance
Different kinds of bike insurance are based on your needs, lifestyle, and concerns. You have an opportunity to select bike theft insurance, travel, or race insurance as well as the one for accidental damage or personal accident. As you see, there are plenty of options to go for. Most importantly, you should research the information about each of them before making your final decision.
What to consider when buying insurance?
No matter what kind of insurance you decide to choose, you must keep up with your end of the contract. What does that mean? First of all, you have to secure your bike as much as possible. The minimum requirement is to use a small secure lock. If you keep your vehicle in an outbuilding, like a garage, you must also make sure that it has another reliable lock. When leaving your bicycle away from home, you should check if the frame is reliably secured to a permanent structure.
Those who are willing to select a policy that spreads on personal accidents must provide the insurance company with the info about their previous injuries and existing ailments. Otherwise, it can negatively affect your payouts. It is also important to notify the agency of any changes you make, from buying a new vehicle to changing your address.
Wrapping up
Bike insurance is something that any cyclist needs for complete peace of mind. The variety of insurance policies may confuse you at some point, so you should research detailed information about each of them. Once you know for sure what type of insurance you want to purchase, you need to provide some key personal details to the company. The process of getting insurance is fast and easy, while its benefits are numerous.
