If you’re wondering if you can get insurance for a bicycle, you must be in the right place. Most cyclists don’t know that you don’t need fancy specialized bike insurance to safeguard your bike. So, you may be wondering how to get cyclist insurance or even if you can get insurance for your bicycle? Well, bikes are usually insured by renters, condo, or standard homeowners insurance policy. Even if you’ve gotten hurt during a collision impact with another car, your auto insurance may help you cover the medical bills. If you need to know more about auto insurance, visit West Side Auto Licensing.
Bikes Are Insured In Many Ways
Vandalism and Theft
Your bicycle may be insured for its current value, under the umbrella of personal property coverage using most home insurance options. If your bicycle is stolen or vandalized, your bike is usually covered in most places, like at the park, home, or inside of your garage. The same occurs with a condo or renters insurance as well. However, there are limitations to your coverage policy up to your current deductible from your plan. According to a source by the National Bike Registry, roughly 1.5 million bicycles are stolen per year, and that number is only increasing! This means it’s imperative to have insurance, whether it’s bicycle insurance or home insurance. Car insurance is also necessary, and finding out whether specific car parts are covered by insurance is essential.
When it comes to physical damage, it may vary depending on the circumstance. In cars, air suspension is helpful when driving at speed, so this is worth looking into if you own a car. We’ll cover a few examples of damage for your reference.
You may be wondering how much does it cost to insure a bicycle? On average, a bike insurance policy will cost you roughly $250 to $400 annually. This doesn’t include any specialized policies like mountain bike insurance or bicycle theft insurance. So can you get insurance for a bicycle even if you’re on a low budget? You can easily get coverage from your health insurance or existing home insurance.
Receiving Bike Damage From a Car Accident While it’s Being Transported
Whether it’s renters, homeowners, or condo policy, most policies can insure your bike in these situations up to its policy’s limitations. This will encompass scenarios where your bike is mounted on your car or attached to a bike rack. In some car accidents, you may notice tire cracking, which is important to resolve as soon as possible.
You Get Into A Bike Accident
In the case where you collided with a curb, tree, pedestrian, or any other object, or you fell off your bicycle, resulting in your bike being damaged, then this won’t be insured by your policy. This is unless you have an add on to your policy that explicitly states this scenario. Luckily, all you have to do is schedule your bicycle as an individual entity onto your policy. Some insurance companies, however, won’t let you schedule your bicycle.
A Car Crashes Into Your Bicycle
In the scenario where you’re riding along, and another vehicle hits you, their auto insurance likely covers you because it was their fault. If the vehicle driver does not have auto insurance, you’ll need to appropriately file a claim onto your condo, renters, or homeowners’ policy.
Injuries Caused By A Driver
Your health insurance will cover injuries that are caused by a driver. But their auto insurance likely ensures any lost wages, suffering, or hospital bills that are incurred. In the scenario where you have medical payments coverage or personal injury protection, you’ll be insured. Just like auto insurance, your coverage will likely have limitations and can only be insured to the point where your policy states. In the event where the accident wasn’t your fault, it will always be covered by the person who is at fault. If the driver doesn’t have any insurance, then your policy will enact a type of uninsured motorist insurance to help you provide the necessary coverage. It’s important to always take note of the license plate on any car involved in an accident.
Other Types of Injuries
If you are the one that caused the accident, then you can still be insured. Although bike riders typically take on most of the damage, it is possible to hurt or kill someone with your bicycle. Luckily, having liability coverage from your condo, renters, or homeowners policy enables you to be insured if you’re at fault. It’s not a question of can you get insurance for a bicycle, because it’s imperative that you do have one to prevent costly damages.