Knowledge about insurance has increased notably in the last decade. In this sense, we know that home insurance covers us for theft in the street. But, if it happens to our bicycle, what happens? We will see what is covered in these cases by BIKE INSURANCE.
Can my home insurance cover my bike?
Our home insurance can give us certain coverage for our bicycle, but we will see that there is less than we might think. This is why bike insurance came into being.
When the bicycle is at home
For example, if we keep our bicycles in our house or even in our storage room, If they are not covered by home insurance, home insurance may cover them.
However, in the storage room homeowner's insurance may require that they be anchored from the frame to the wall for coverage.
The problem is that we may find that we have a good bike, and there is some kind of a problem with it. sub-limit in the coverage. Example: I have a bicycle worth €2,000, but I am only covered up to €1,000 in storage.
When we have the bike on the street
Here there are many further restrictions, If the bicycle is anchored in a communal garage, in the park or in the street, home insurance will not cover it.
They could cover us if it is stolen with force when we are next to it, but probably with limitations similar to those we have seen with the storage room.
What would bicycle insurance protect me from?
We are going to see that there are 4 important coverages that the bicycle insurance can give us:
- Travel assistanceIf we usually go out with our bike, it's good that if we have an accident we can be picked up. It would be similar to the towing service in the car insurance (and they would also pick us and our bike up).
- Legal defence and civil liability: are two types of cover that are linked, as they protect us both if we cause damage to a third party with the bike, or if they cause it to us and we want to make a claim. This way we can have a lawyer to defend us.
- Bicycle accident cover: to cover medical expenses and insure a capital sum in the event of serious accidents. Helmets are usually required to be worn.
- Damage to the bike by accident or even, theft.
The latter is the cover most requested by cyclists and the one that can make the biggest difference when we have a high-value bike.
Which companies have the best bike insurance?
We we have compared The various bicycle insurances available on the market and there are, in our opinion, two products that stand out above the rest:
- Bike insurance MapfreA very complete product, which does not cause any problems despite the age of the bike.
- AXA Bicycle Insurance: good rates and a very complete product.
Between them there is some difference to be taken into account if the bike is used for certain tests, especially.
If you would like more information on how to insure your bicycle, we are at your disposal. From PIB Group Iberia we will help you find the bike insurance that best suits your needs.
