We sure do, and that’s one of the big advantages of a bicycle insurance policy. You are even covered when you race your bike and have the option to extend the coverage to riding and racing anywhere in the world.
Each policy is different but homeowners and rental policies generally cover bicycles in a very limited fashion. They usually have very low limits, so it you have a $2,000 bike and it gets stolen, and the limit on your policy is $500, you will only get $500. Homeowners and rental policies also usually don’t provide any coverage for damage while you ride your bike, especially if you race it.
This is a replacement value policy. The maximum value you’ve stated for your bicycle during your application is the maximum amount that we may pay up to in the event of a claim. You’ll want to make sure the limit is high enough to replace your bike as it is currently configured. Don’t forget to add the value of your accessories and other components you want covered.
In the unfortunate event you are hit by a car your bike will be covered under your bicycle Physical Damage Coverage. If you have chosen to purchase our Medical Payments coverage you will also be covered up to the limits you selected at the time of purchase for any medical expenses incurred as a result of the accident.
If you select our Vehicle Contact Protection cover option and are hit by a car with an uninsured or underinsured driver, the costs associated with the physical injuries you sustain will be covered up to the benefit limit.