6 Facts Every Cyclist Needs to Know About Having an Insurance

Cycling has been increasingly popular for over two decades, and as the need for environmental consciousness grew, more and more urban cities adopted cycling and city transportation as an alternative to cars and other vehicles with higher carbon emissions. The health and environmental benefits are well known, and with gas prices going through the roof, it has become the cheapest option available.

But, some hidden dangers of cycling can cost you a lot in the long run, which is why insurance policies have been put in place for cyclists. In the text below, we’ll discuss some things you should know regarding this type of insurance.

What exactly is bicycle insurance?

Bicycle insurance policies usually have higher coverage levels and additional options that are geared exclusively toward bikers. The number of things that can be covered with an insurance plan will be discussed below, but the main thing to know regarding such policies is how they exist to protect you in any possible scenario, whether you are the victim or the liable person.

Important benefits of insurance coverage

Replacement, damage, or theft

In the event of a car accident or theft, you may require bicycle repairs or replacements. If your bike was wrecked in a vehicle accident, the driver’s insurance should pay for it, although the claim procedure may be lengthy.

Health insurance

While riding offers several health benefits, you are more likely to be injured in a vehicle accident. Keeping this in mind, because of the high deductibles involved, you might not want to rely on standard health insurance following an accident.

For this purpose, it’s best to have different options at hand and compare health insurance plans to make the process of choosing easier. Some plans can cover a wide range of medical services, from hospital, stays to dental care and medical equipment. And by comparing, you can always find the best plan for the best price, or even a discount.

Cycling may be perilous at times, especially when catastrophic accidents occur; such situations require the purchase of comprehensive health and life insurance coverage that can provide financial assistance to you or your loved ones. There are also special cyclist health insurance plans, which are packaged to cover cycling-related injuries.

Coverage for Liability

Cyclists may be held liable if they cause property damage or bodily danger to others. Such circumstances actually occur, but infrequently. Those who have been harmed by bicycles may be covered by their health insurance, but it is likely that they may seek further compensation from bikers.

Who should think about bicycle insurance?

Most riders will be covered by other types of insurance, such as homeowner’s or renter’s insurance. Bicycle insurance is also not required by law.

It may, however, be a viable alternative if:

• You lack both homeowners’ and renters’ insurance.
• Your health insurance has low limits or high deductibles.
• You bike aggressively.

Always be upfront about the nature of your riding

Bike riding is not the same for everyone; there are very different surroundings and very distinct risks. A commuter is unlikely to strike a tree, but a mountain cyclist is less likely to hit a pedestrian or get hit by a car. Insurance firms are aware of the subtleties and dangers connected with various use cases and price them accordingly.

Travel coverage

As you carefully load your bike into its travel box, keep in mind that a disproportionately significant percentage of bikes are damaged in transit, particularly by airlines and logistics companies. Most consumers mistakenly believe that by paying a bike charge at the baggage claim, they are purchasing insurance for the bike, when in reality they are paying a shipping price and agreeing to hold the airline harmless for any damage to the bike.

Make sure your equipment is covered as well. Your riding gear and accessories, like your bicycle, might be damaged, lost, or stolen. Cycling clothing, despite appearing light and simple, may be costly. When you add up the costs of your helmet, glasses, shoes, and gloves, you’re looking at a sizable sum.

If you’ve added aftermarket, permanently attached equipment to your bikes, such as a power meter or racks, make sure the policy clearly covers them.

The many benefits

As said before, we can understand how cycling insurance can help us reduce the overall costs in the case of anything happening, and some plans also cover the annual replacement of some parts that are due to be replaced.

The mentioned travel coverage even protects you if something were to happen during transit, and health insurance is more than useful in case you get injured or someone else. And there is also the option of worldwide coverage if you happen to be somewhere abroad and take your bike with you.

Insurance plans are plans for the future, reducing stress, saving you money, and allowing you to cycle freely without having to think twice if something were to happen after all.