Select your Bicycle Insurance Wisely

If you think bicycle insurance isn’t important, think again. Whether you ride competitively or just for recreation, choose wisely when going for bicycle insurance as it can be one of the most crucial choices of a bike rider’s life.

1. Check the Policies for the Type of Riding You Do

There are a variety of different companies offering bicycle insurance, some are the big names that you hear of for other types of insurance and some actually specialize in just bicycle insurance. Of course, different policies charge different prices, offer different claims, along with different deductibles and discounts. It is very important to cross check the details of the policy you are selecting for your bike. Be sure it covers the type of bike and riding you intend to do. When it comes to cycling, all riders are not equal. After all mountain biking at high speeds over rough terrain can be dangerous but so can riding along busy highways… But different policies might handle different types of risk differently.

2. Some Questions to Ask about Your Bicycle Insurance Policy

Does your policy cover Bicycle Physical Damage coverage? Including protection of not just your bicycle, but also components and accessories? What about rental reimbursement? Competitive event fee reimbursement? Coverage for spare parts and cycling apparel? What about Bicycle Liability? Vehicle Contact Protection? Roadside Assistance? Medical Coverage?

3. Seek Advice from Your Agent

It is always advisable to consider the advice of your insurance agent. Insurance agents are well experienced and know about types of insurance, terminology, etc. They can give you the right picture of everything and offer the best policy at an affordable rate.

4. Be Sure You Understand the Terms and Conditions.

Read the documents carefully, before signing any kind of bicycle insurance paper. Never sign any insurance papers in haste. If you have any questions be sure to have your agent explain them before you sign.

5. Inquire about the Deductible

A large deductible significantly decreases the price you are paying for bicycle insurance. Of course, it also means you have to pay more out of pocket if you have a claim. But, with some companies, if you opt to raise your deductible by a few hundred dollars, you can easily save up to 30% on bicycle insurance.

6. Be careful with Claims

Insurance claims are filed to fix up the damages done to the bicycle as well as the rider. However companies frown on riders who file constant claims. (Of course if you have a higher deductible you will be paying for those smaller claims yourself anyway.)

By keeping these details in mind, you should find the right bicycle insurance policy for you. Just like when you are riding, you should stay alert while looking for a policy. Have you had any interesting experiences while looking for Bicycle insurance? Please share them below.

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This is a guest post by Nidhi. She loves to write on a variety of subjects. She has written many posts on insurance such as gadget insurance, car insurance, bicycle insurance, etc. She has also written for many brands such as Protect Your Bubble UK. If you are a bicycle owner and love cycling then getting your bicycle insured is always a wise idea and choosing bicycle insurance wisely can save you a lot.

Image “The Leader” by Rasmus Thomsen courtesy of / FreeDigitalPhotos.net; Image “Bicycle Parking 2” by Armin Hanisch