5 Types of Insurance That All Cyclists Should Consider

Cyclists are the most vulnerable road users other than pedestrians. Moreover, pedestrians use sidewalks, but cyclists ride side by side with large cars on the road.

As a bicycle owner, you should ensure you are as protected as possible, and safety equipment can only go so far.

Therefore, all cyclists should consider getting insurance for themselves and their bicycles. Every cyclist is different, so cyclists will probably get different types of insurance. However, the following are the types of insurance all cyclists should consider:

Theft Protection

Unlike a car or a motorcycle, a bicycle is very easy to steal, which is why all cyclists should consider theft protection coverage. Bikes are also tough to track once stolen, which is another reason to get theft protection. You can try various theft protection devices and techniques, but they make a minuscule difference to the chances of your bike getting stolen.

Theft protection coverage ensures that the insurance underwriter will reimburse you for the cost of the bike or replace the bike if it gets stolen. You should consider the best policy if you have several bikes, as you can choose between group or individual theft protection policies.

Medical Coverage

Motorcycle accidents often result in the worst injuries because of their speed and the lack of protection. Bicycle accidents can be gruesome, too, especially when a car is involved in a collision.

Therefore, all cyclists should consider getting medical coverage or health insurance. Your health is more important than your bicycle, so medical coverage is the most crucial type of insurance cyclists can get.

The policy will pay your medical bills until the limit of your policy. You should know that the insurance company must ascertain that you sustained your injuries while bike riding to receive compensation.

Liability Protection

Though a bicycle is not likely to cause a lot of damage, all cyclists should consider getting liability protection insurance. The policy will protect you from losses resulting from property damage, illness, injury, or death when riding your bike.

If you hit someone else when riding your bike and they sustain injuries severe enough to require medical attention, liability protection will pay for their medical bills. There are often coverage limits per accident for liability protection coverage, so be sure to ask the insurance company agent about it.


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    AD&D Insurance

    Accidental death and dismemberment insurance is a form of life insurance that covers a policyholder and their beneficiaries in case they accidentally die or get injured. Bicycles have little to offer in terms of protection, so if a road accident occurs, chances of death or dismemberment are high.

    Life insurance coverage is broader than AD&D insurance as the latter only covers death and dismemberment, so you may consider getting life insurance. However, life insurance does not cover dismemberment which could cause your family financial strain if you lose one or multiple limbs.

    The insurance policy will pay your beneficiaries based on the degree and severity of the injury or dismemberment.

    Accidental Damage Coverage

    If your bicycle is damaged in an accident, the accidental damage coverage will pay to replace the bike if it is damaged beyond repair. The insurance policy will cover the repair costs if you can repair the bicycle.

    The policy will also pay for damages to your bicycle resulting from vandalism if you can prove it. Repairs for cosmetic damage to the bicycle are often excluded from accidental damage coverage.

    Cyclists are in tremendous danger when they ride alongside motorists and motorcyclists on the road. Anything can happen, and it would be wise to get coverage for any damage or loss.

    Types of insurance every cyclist should consider include accidental death and disbursement, accidental damage, theft protection, medical coverage, and liability protection.

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    5 Types of Insurance That All Cyclists Should Consider — Bike Hacks