Things We Should Know About Bicycle Insurance

Bicycle insurance is not a common type of policy, but still needed in some countries. In a few European countries, people prefer to use bike to go to places. Those carbon fiber framed models could worth thousands of Euros. Savvy bikers should make sure that their lightweight vehicles are covered financially.

It means that when the bike is damaged or stolen, the insurer could provide with financial compensation. Bicycle insurance plans can be quite affordable. A basic plan may protect us from damages and theft. More expensive plans could provide protection against public liability costs. It means that during an accident, we could be covered against any legal or medical costs.

Theft and damages are two factors that we should consider if we want our bicycle safe and working. We shouldn’t rely to the fact that the home content policy may include the bicycle. In some cases, the bicycle may not be specified inside the insurance policy. This is a factor to consider if our bicycle is somehow quite expensive.

It may require an extra of 15 Euro to include the bike in the home contents coverage. In this case, we should have the peace of mind that our bicycle will always be protected regardless of the situation. Bicycles are more fragile and they can get damaged more easily. It is also easier for thieves to break the lock and get away with our bike.

We should be aware that even if our bike is secured with a lock, it doesn’t guarantee that our bike will be fully protected from theft. The insurance company will not pay for our losses if we don’t take the necessary steps to secure our bike. So, we should make sure that we have the proper locking mechanism.

Bicycle can be an expensive asset that we use for not only sporting purposes, but also commuting to work. Also, we may include the travel component in the overall policy, if we plan to bring the bike to distant locations for recreational and travelling purposes.

It is a good idea for us to investigate the overall policies of airlines and other transportation service providers related to damaged and lost baggage. In this case, our bike should be appropriately packaged and adequately labelled. Another issue to consider is the public liability insurance and it is quite different from country to country.

This insurance component could be needed if we want to cover ourselves against accidents that involve other cyclists, pedestrians and motorists. Although bicycles are lightweight vehicles with relatively low momentum, damages and injuries could happen when we move at higher speed. The physical and financial implications are rarely significant, but it is a good idea to protect ourselves against such occurrence.

Accidents and thefts happen continuously and this fact could also affect cyclists. It is important for bicycle owners to have the proper protection for themselves. We shouldn’t take bicycle insurance policy lightly, because it could save us thousands of Euros or Dollars.

Leave a Reply

Your email address will not be published. Required fields are marked *