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Bicycle insurance is an essential tool for anyone who has invested a great deal of time or money into their bicycle and the cyclist himself.

Bicycle Insurance Coverage

In addition to covering the cost of your cycle and equipment, you will need to take on a policy to cover:

• Damage to the bike caused by racing or traveling to events
• Property that is damaged in the event of an accident
• Damage to your car if towing your bike causes damage
• Damage to someone else’s property if you have an accident

In any case, cycling insurance must be personalized to cover your specific riding circumstances.

Insurance For Your Bicycle

Bicycle insurance will protect you from losing your investment. Most policies are relatively inexpensive. Bicycle insurance will typically cover the cost of your bicycle and your cycling equipment.

Like in every other insurance policy, bicycle insurances vary, depending on the situations they cover. Some policies cover only your bike, while others also cover your cycling equipment and even the upgrades you have made to your bicycle.

There are cases when your benefits will not be paid in full if your bicycle is more than three years old or if you did not take precautionary measures to protect your bicycle (such as using a bicycle lock).

Some policies will pay for your taxi ride home in case your bike is stolen or becomes useless, while others will pay your taxi fare only if your house is 5 miles or more away, and some will not. As always, premiums may vary depending on the range of situations they cover. There may be some situations where cycling insurance would not be in effect.

Cycling Insurances

Besides protecting your essential investment, cycling insurance can protect you from liability should your bike be involved in an accident. Most bicycle insurance policies cover third-party or public liability. This encompasses the cost of causing accidents or damage to public property and other road users, accidental damage to your bicycle by artificial or natural causes like fire, a stolen or damaged bike, and taxi fare to get you home.

Special Cases

Insurance For Cycling Trips

If you frequently travel with your bicycle, you may want to purchase travel insurance that will cover the cost of your bike while on your trip. This will help you get a replacement if it is lost, stolen, or damaged while you are away from home.

Insurance For Public Events

If you are participating in a public event such as a race or triathlon, you may need to invest in public liability insurance. This type of insurance will prevent the race's sponsors from being held responsible for any damage to public property, spectators, or other participants that may occur during the event.

Bicycle Insurance For Kids

Some insurers give out special insurance policies that protect children under fifteen, professional and competitive cyclists, and those taking their bicycles outside their home country.

Bicycle Insurance For Extreme Cycling

The cost of your cycling insurance premium will vary depending on the type of cycling activity you are participating in. Mountain bikers, BMX bikers and downhill cyclists will usually pay higher premiums than road cyclists. However, you should still get a plan tailored to your specific needs, even if it means a higher premium.

Where Can You Get a Bicycle Insurance?

Homeowners Insurance

Most bicycle insurance providers are found together with mainstream insurers that cover other aspects of a person's life.

Just be aware that some providers who offer cycling insurance as part of your homeowner's insurance are offering insurance policies that cover only your bicycle.

The idea is that if your bike is stored on your property, it can be counted as part of the home contents while determining your home's value.

Even if you already have special bicycle insurance, you may still need to list your bike on your homeowner's policy to help your insurance company accurately evaluate the value of your property.

Special Bicycle Insurance

Cycling insurance is often offered through biking organizations or companies that offer specific types of vehicle insurance. These policies will typically focus on covering the cost of your bicycle, allowing you to replace it should something go wrong. Policies listing your bicycle as a vehicle can also be expanded to cover any potential damage or injuries your riding could cause. These will often be added as a liability clause, protecting you from the legal responsibility of taking on any medical expenses or legal fees that stem from the incident.

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