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.
Is my bicycle covered under my homeowners or renters insurance?
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.
Is my bicycle covered if it is worth more than $1,000 and stolen from my home?
With Chain Reaction Cycles Insurance you have the option to insure your bicycle up to its replacement value. So if you insure it for $1,000 or more, you will be protected.
Is my bike covered if it is stolen from the coffee shop after my ride?
Yes, but the standard locking rules apply – your bike must be secured to an immovable object with an appropriate security device like a bicycle lock.
How much should I insure my bike for?
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.
What if my bike is not new, is it worth insuring?
Even if it isn’t new we can insure your bike and we recommend it. Replacing a broken or stolen bike can still be very expensive even if it is a few years old.
Is my bicycle covered if I drive into a parking garage forgetting it is on my car’s roof?
With Chain Reaction Cycles Insurance it is.
Is my bike covered if it is on the car bike rack and I am rear ended?
Yes, the bike is covered subject to the policy deductible.
What if I get hit by a car?
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.
Is my bike covered if I race?
Yes, your coverage automatically applies to when you race your bike in the USA and Canada and can be extended to cover you for racing anywhere in the world.