The Chainlink

Bicycle Insurance is Available on a Limited Basis! Too Little? Too Late? Not Worth the Expense?

Tawlk Amongst Yourselves...

Cycle insurance for the way you ride.

Cycle insurance for the way you ride.We know the risks you face every time you ride. Whether you ride competitively or just for recreation, we have the coverage to ensure your peace of mind. It's what you can expect from people who don't simply generalize, but who specialize in cycle insurance.

Even though it's not yet available for the Great State of Illinois :( this is what you get:

Each policy is custom-built and can include Bicycle Physical Damage coverage protection for damage to the bicycle caused by collision, fire, theft, vandalism or hitting another object. In addition, coverage for spare parts, cycle apparel, rental reimbursement and competitive fee reimbursement is included at no additional cost.

Also available for purchase are Bicycle Liability coverage to cover injuries or property damage caused by the insured cyclist; Medical Payments to cover medical costs of the policyholder associated with a loss and Vehicle Contact Protection to provide an additional source of recovery for the insured cyclist if he/she is struck by a vehicle without adequate insurance. In addition, Roadside Assistance coverage is available to policyholders for only $10 per year. This coverage offers the cyclist 35 miles per tow and up to five tows per year.

More here!

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Permalink Reply by Justin B Newman on August 14, 2012 at 7:57pm

In the auto world, insuring something like this (effectively an antique/collectible vehicle with extensive custom modifications) isn't much easier - if you actually intend to drive the vehicle. While antique/collectible coverage abounds, it generally limits you to showcasing the car, rather than using it as transportation.

In the end, insurance companies insure events for which they can model risk. As more bicycles are on the streets, they'll insure "standard" bicycles. And probably account for some level of customization. (I'm guessing most would cover the rack installed on the back). But the "custom" bicycles will continue to face challenges.

The good news for all of us is that in the grand scheme of things, for most of us, there's a lot less money at stake than with a car.

-jbn


James BlackHeron said:

Gene's agent said "...but if the bike is modified in any way it is not covered."

 

LOL-my road bike is modified in every possible way.  

 

The only original parts are the frame and the fork from the 1974 Raleigh Competition it used to be when originally manufactured.  Even the paint has been removed and powder coated. The headbadge is original, but has been restored/repainted by my own hands and the original rivets replaced with tiny stainless steel socket-head screws tapped into the head tube.

(snip)

I suppose if I owned an insurance company I wouldn't want to deal with insuring such a thing either. 

 

:-D

Permalink Reply by Gene Tenner on August 14, 2012 at 8:12pm

I will tell Sandy not to expect your call.

James BlackHeron said:

I suppose if I owned an insurance company I wouldn't want to deal with insuring such a thing either. 

 

:-D

Permalink Reply by Tiffany Impson on August 17, 2012 at 3:42pm

Figures. I'm on State Farm, and was doored last year. The person who doored me had State Farm as well, and it has been a HUGE fiasco to get any money out of this. I was also hit last week by some ass that doesn't have insurance. Homeowners will semi-cover things, but then that's a strike, and rates go up. Auto only handles physical damage to the body.

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