Make sure you and your bike are covered no matter what comes your way.
While most homeowners or renters policies may provide limited coverage for your bike, a separate bicycle insurance policy can provide the broad, personalized coverage you really need – especially if you own an expensive specialty bicycle. Whether your bike is used for transportation, recreation, fitness, or competition, you may want to look into a bicycle insurance policy and stop worrying about what might happen if you are involved in an accident; how might you pay for damage to your bike, or for injuries caused to others while on your bike. Here are some things to consider:
A separate policy for your bike may provide primary coverage for injuries sustained in a collision caused by your bike or for injuries deemed your responsibility. Depending on the policy you purchase, you can find coverage at different combined single limits of $25,000, $50,000 and $100,000.
Bicycle policies vary in cost, coverage and coverage limits, depending on the company. However, most extend coverage for medical expenses incurred as a result of injuries sustained while on the bike, regardless of whose fault it may be. Very much like bicycle liability, coverage is offered in varying incremental limits starting at $1,000 and up to $10,000. Some policies also offer vehicle contact protection, meaning coverage for injuries caused by an uninsured or underinsured motorist.
For the most part, bicyclists can cover their risks with their existing insurance policies. However, there are some specialty insurance policies are specifically designed to cover your bike and cover many other risks you may not have thought of. Such as theft while away from home, replacement bicycle rental, cycling apparel, spare parts and even racing coverage.
If you currently own, or are thinking about purchasing a high value, specialty bike, we recommend you call a Westwood Insurance Agent today. Our insurance professionals are always available to guide you and advice on the best insurance coverage available for your needs.