Choosing Better Insurance Coverage

Few things are more important than having the right insurance coverage. About ten years ago, I was involved in a near-fatal crash where I experienced traumatic physical and emotional injuries. It was really challenging for me to endure the hospital stay and subsequent physical rehabilitation, but with the help of my medical team and my insurance company, I was able to overcome the challenge and completely recover. This blog is all about the importance of choosing the right insurance plan so that you can get on with your life and enjoy those precious years with your family and your friends.

Do You Need Bicycle Insurance?

Insurance Blog

When it comes to your bicycle, you are probably pretty protective of it. True enthusiasts invest time, emotion, and money into their cycles. In fact, this sport can cost thousands of dollars a year. As a result, you need to protect your investment. One way to do so is to acquire a bicycle insurance policy. If you don't take this action, you may find yourself without your wheels if you have an issue with your bike.

Cost and Coverage

You may think insuring your bicycle will be prohibitively expensive, but that is not the case. If you own a sophisticated bike, it may have cost you several thousands of dollars. Depending on the level of coverage you purchase, a good policy starts at $100 per year. Not only do these policies cover your bike in case of loss, some cover repair and replacement costs if you crash your bicycle. Also, if you injure someone while you are riding, your policy can protect you from the liability costs.

Insurance Gaps

A stand-alone bicycle policy can cover "gaps" in coverage you already have. For instance, your homeowner's or rental policy may offer a low-dollar amount of coverage for your bicycle. You may be able to add a rider to these policies to cover your bicycle appropriately. Otherwise, you need to invest in a separate policy. You can also purchase medical coverage from some agents. You may wish to invest in enough coverage to meet your estimated out-of-pocket expenses for a year, particularly if you are a professional or avid amateur racer. In that case, you are more likely to be injured while on your cycle.

Roadside Assist

For the truly avid rider, roadside assistance is actually available. For instance, if your bike breaks down in the midst of a cross-country race, you can call for help. Soon, someone will show up with a new tire or chain for you, and you can be on your way again. Many folks do not know that such coverage exists. In reality, you can cover your bicycle in the same way that you can your automobile.

If you simply ride an old hand-me-down bicycle around town, most of what a bicycle policy offers you is unnecessary. However, if you are devoted to cycling, you should consider upping your coverage to truly cover your investment. Not only will you be protecting your property; you will also be protecting yourself. For more information, contact an insurance company, like Farmers Insurance Group.


8 July 2016