Is insurance required for cyclists? Is it necessary to get insurance in order to ride a bike on the road? Is it possible to get bike insurance that can protect you against theft? In summary, it’s not required by law, but it might be a good idea.
If you want to protect your bike from theft and unintentional damage, or if you travel and race frequently and want to be prepared for anything, you should consider purchasing bicycle insurance. This is the most in-depth guide to finding the finest bicycle insurance on the internet, and it will assist you in making an informed decision about the type of coverage you require.
What are the various bicycle insurance options In the USA?
By far the most prevalent method of insuring bicycles is through home insurance. According to a BikeRadar poll conducted in April 2016, 75% of those who cover their bikes do so through their home insurance. The benefit of putting your bike under your home insurance is obvious: it keeps everything neatly bundled up in one package and gives you one less thing to think about when it’s time to renew.
It can also be a good value for money if you want simple coverage that covers the essentials, or if you only want to ensure a cheap bike. However, there are disadvantages to insuring your bike on home insurance compared to specialist cover, particularly for the dedicated cyclist.
Accidental damage insurance is available in the United States
Despite the fact that theft is the most common concern among cyclists, most specialist bicycle insurance providers report that unintentional damage coverage accounts for the majority of claims. Bikmo, for example, reported through its Open Project that 83% of its claims were for accidental damage.
Depending on the type of coverage you select, accidental damage coverage will often cover everything from a complete bike to specific components and accessories. For more expensive goods like GPS devices and helmets, home insurance may be a good alternative, but specialized coverage is usually a better option if you want full coverage for all of your gear.
Personal accident insurance is available in the United States
If you are critically injured while riding your bike, personal insurance will help you financially. If you are unable to work as a result of your injuries, some policies will pay you a lump sum to cover medical expenditures such as physiotherapy and dental work. If you have any pre-existing medical issues, make sure you tell your insurer about them because failing to do so could result in your coverage being canceled.
In comparison to specialized bicycle insurance, a dedicated personal insurance policy will provide significantly more extensive coverage. Despite the fact that it is not required by law, most policies from a dedicated personal insurance provider or a specialty cycling insurance provider will require you to wear a helmet at all times in order for your insurance to be valid.
However, because most plans provide some amount of personal insurance coverage, it’s worth evaluating what’s available because it could help you choose between two policies if you’re undecided.