Things to Know Before Buying a Bicycle Insurance Policy


Cycling is something different for each person, no matter what it means to them there are many companies offering bicycle insurance for them to make their ride safe and secure.  The firms allow one to choose the best coverage plan according to the need. They even offer medical payments, bicycle liability, roadside assistance and vehicle contact protection.

Depending on the seriousness of cyclist there are many bicycle insurance policies available in the marketplace.  People normally wonder do they need protect your bicycle insurance. What are the benefits of that choice?  And what they should look for before purchasing one?

Most often the bike owners are more concerned about their bike than themselves because all bikes are not like and are created differently, then just locking up the bike is not secure all the time as thousands of bikes are stolen every day in each area. If your bike is purchased at a higher price than it is worth to get it insurance and if you have a bike which is of low price then having the insurance can cost you more than the cost of the bike. In fact for most serious cyclists more specialized insurance is needed. People need the most comprehensive and best coverage available. Bike insurance is one of the most important decisions of a bike’s riders’ life.

There are several things people should look for in protect your bicycle insurance policy related to coverage offered and your requirements.  An initial insurance can help you to save a fortune in travelling costs. There are few things one should know:

  1. Reading the policy document properly and making sure that you need the insurers’ all requirements before signing it.
  2. Keeping the receipt of bike purchase safe along with photographs of the bike.
  3. Making sure to receive proof of ownership of the bicycle along with proof of the ownership of the lock used.
  4. Making sure to hold adequate knowledge about uninsured and underinsured coverage for bicycle.
  5. Checking that the coverage offered by bicycle policy in the context of loss of the bicycle and optional medical payments.
  6. Cross checking the details of the policy before purchasing it as different companies’ offers insurance at different prices with different claims.
  7. Asking your policy agent whether your insurance policy covers the protection of your bikes accessories and components and not just bicycle along with rental reimbursement, and cycling apparel and spare parts coverage.
  8. Following the advice of an insurance policy agent as they have knowledge about the policy rates and type of policy that suits you best.
  9. Inquiring about the best deductibles which reduce the price one will pay for the bicycle insurance.
  10. Whether the insurance policy covers like-for-like replacement or not.
  11. Does the policy include taxi charges for taking the cycle at home i.e. Travel coverage included in the policy?
  12. What coverage the insurer offering for foreign trips.
  13. Whether the policy covers time trialing or racing.
  14.  Cycling injury compensation offered by the insurer.
  15. Time limits for submitting a claim which may vary from insurer to insurer.
  16. Must know about the agenda of the policy you want to go with.

People should know every related thing before signing or purchasing a coverage plan as the insurers do not always pay for one’s claims. If you have any doubt or question related to insurance get it clear by asking it to your insurance agent before signing a policy. By keeping all points in mind one can land on right insurance policy purchases which will give you a feel and assurance that you are safe while on a bike ride.

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