Bicycle Insurance
Bicycle insurance, as with all insurance products, gives you a way to deal with the risk of having something happen to your bicycle - depending on the product you choose - and therefore having the peace of mind that this cover brings.
Clearly if you have a bike that is worthless then you may well decide that you do not need insurance. Or it may be that you have checked your home contents insurance policy and that your bicycle is covered under this, and you can claim enough such that the cost of the bike would be fully covered in that eventuality. But for anyone who has a bike of any significant value, then you may well not be able to claim enough to cover the cost of the bicycle even were it to be covered under your contents insurance - and in which case you might see things very differently and decide that you wish to take out bicycle insurance as a result.
Although it may seem quite a niche product, there are actually a lot of providers out there. And indeed there are a lot of bikes that cost a lot of money, and a keen cyclist may well spend very significant sums on their bike and indeed various pieces of kit to go with it.
There are various different types of bicycle insurance product on the market, catering to a range of different needs, from the casual biker right through to those with very specific needs such as those who engage in triathlons, for instance!
A standard cover might include theft and accidental damage to a bicycle, but not necessarily. Other types of cover might be for what you might call thirty party liability insurance - let's say that in the course of riding your bike you accidentally knock into someone else resulting in injury, then that person can claim damages - liability insurance can protect you against such claims for injuries or damages from third parties.
There are even breakdown recovery services for cyclists along the same lines as with car drivers so that if something happens like your bike gets damaged and you can't complete your journey you can call for assistance and get taken to a repair shop or accommodation etc.
Push bicycle insurance can be attractively priced and might be, say, in the region of £20 - £50 per year although of course it varies very much depending on what type of cover you require, and also what maximum total amount you are insured for. It might be for instance that you decide to get insured for £5,000 cover for your bicycle and £15,000 for personal accident cover. Rates for insurance will clearly vary depending on how much cover you get for these eventualities, and also whether you decide to take out cover for theft, accidental damage, vandalism and whether you wish to be covered in just one country or, perhaps, across Europe for instance.
Related Articles...
| Reinsurance The concept of 'reinsurance' is quite an interesting one. It comes down to the same sort of logic as 'who will guard the guards?' - in this case who will insure the insurers. The answer is, other... Health Insurance One of the most common insurance products is health insurance, a broad umbrella category that covers any sort of insurance product that helps an individual mitigate against the expenses that are... Agricultural Insurance Agricultural insurance is a niche type of insurance product that is available for those who work in specific areas of agriculture. This type of product could offer piece of mind against various... Payment Protection Insurance Until a few years ago, not many people would have heard of Payment Protection Insurance, commonly referred to as PPI. Now it is almost inescapable, with TV adverts and text messages bombarding... Prize Indemnity Insurance Prize indemnity insurance is a purchase that would be considered by someone offering a large prize and thus could stand to lose a considerable sum of money. This form of insurance would mean that... Contents Insurance Contents insurance is a type of insurance product that covers the items that you have - the contents - of your home. There are a range of different providers of contents insurance out there on... Travel Insurance One of the most common forms of insurance product is travel insurance. Wherever there is travel involved, there is invariably risk, and infact a range of risks, and therefore an insurance product... Crop Insurance There are two main types of crop yield insurance available, which come under the category of types of agricultural insurance product. It is self-explanatory what crop insurance guards against -... Van Insurance Most people know about car insurance, but what about van insurance? Clearly if you drive a van then you need to know about van insurance. There are various different types of van insurance which... Life Insurance One of the most well-known types of insurance product is life insurance. And this does very much what it says on the tin - it insures against the life of a person. Thus, if the policy holder (the... |