Our connection to the cycling community gives us a unique perspective on protecting your bicycle, as we understand it is so much more than just a bike! We want you to have the peace of mind that your insurance policy will take care of your bicycle if it is damaged or stolen. We will discuss your needs and find the insurance product that best fits your specific situation.
Why do I need bicycle insurance?
Cycling can be fun and exciting, and can oftentimes be essential for transportation. Every time you ride, you are also at risk. Bicycle insurance can help protect your wallet should the unfortunate occur.
Bicycle insurance, in many scenarios, can help protect you, others, and your bicycle. This includes theft, damage to the bike or bike-related property damage, and injury to yourself or others.
Is my bicycle covered by my home insurance?
Bicycles are sometimes covered by your homeowners or renters insurance policy, but most policies offer limited only up to a coverage limit. Homeowners insurance policies typically have low coverage limits and deductibles, which means if you need to replace your bike due to theft or an accident, you may have to pay a large portion of the replacement cost.
What is bicycle insurance?
A bicycle insurance policy is designed specifically for cyclists and provides more comprehensive coverage, such as crash damage, roadside assistance, bicycle liability, medical payments, protection during transit, spare parts, and replacement-bike rentals.
Two critical coverages unique to a bicycle insurance policy are the replacement cost of your bicycle at full value and personal liability. Personal liability covers you when others are injured due to an accident you caused.
Does bicycle insurance cover racing?
If you race and cannot compete due to theft or damage to your bike, bicycle insurance may reimburse you for the race costs. In addition, bicycle insurance may cover your cycling apparel and accessories should they be ruined in an accident.
Otium Agency understands the bicycle insurance needs of our customers and understands that each situation is unique. Contact us today for help selecting the right bicycle insurance policy.