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Understanding Cycling Insurance
Author: Cyclingdeal Date Posted:12 July 2017
For many of us, our bicycles are as much a part of our lives as our cars – and often even more. Not only do they form part of our exercise routines, but they are also the main form of transportation for many of us – riding to work, school, or social engagements.
One major advantage of bicycles over cars is their relative convenience in terms of accessibility to different roads and their ease of storage. Unfortunately, bike parts and the bikes themselves are easily stolen – and with the popularity of bicycles on the rise in Australia, expensive bikes are a popular target for criminals. A frequent rider may want to consider getting bicycle insurance to ease their mind about any of the pitfalls that could (but hopefully won’t) come across with riding a bike.
That’s why the team at CyclingDeal has assembled a handy overview of cycling insurance to help our customers find out whether it’s the right choice for them.
What Is Cycling Insurance and What Does It Cover?
Like other types of insurance, bicycle insurance is a way to cover the costs of damage to your bike or an injury to yourself.
Serious cyclists often spend many thousands of dollars on their bicycles, and the loss of this asset could be financially devastating if you don't have an insurance company to cover for you. This is to speak nothing of the costs of personal injury, which may not be covered by regular insurance when it comes to cycling-related injuries. It’s better to have the peace of mind that comes with knowing you and your bike will be taken care of in the event of an unfortunate accident.
Different forms of bicycle insurance will cover different things. Some of these include the bike being stolen or damaged, injuries incurred while riding your bike, or third liability (the cost of paying for damage to other people’s property or causing other people injury – a pedestrian, for instance).
Some Things to Watch Out for When Buying Cycling Insurance
Many insurance policies don't cover parts of the bicycle that are easily removed – such as wheels or tyres - because a thief might easily remove an expensive set of wheels from a bike even if the frame is locked steadily to something. Some insurers may only cover the wheels when they are damaged in the same accident that caused damage to the rest of the bike. It's essential for a customer to be sure that their wheels are covered – or else be sure to remove the wheels themselves while locking up the frame of the bike.
Insurance companies often require approved locks to be used when securing your bike and the lock must be secured the right way (to an immovable object, for instance). When you’re at home, your bike may only be covered if there are signs of forced entry to your home (like a regular burglary). Be sure to follow your insurance companies’ procedures to ensure you’re covered.
Personal injury and third party injury insurance might form part of your insurance scheme (hospital/health/ambulance insurance). Make sure you’re not paying for the same insurance twice and wasting money!
CTA: For any further bicycle needs or queries, contact us today. When it comes to a new bike and parts, we can ensure the best deal for you.
