Twelve Questions to Ask Before You Buy Bicycle Insurance
Put these to the insurer in writing before you pay. A good policy answers each one in a sentence; an answer with an "except" in it is the clause to read twice.
The checklist
- Is the policy all-risk, with crash and accidental damage in the core coverage, or named perils?
- Is the bike insured at stated value with no depreciation, or at actual cash value?
- Is there a coinsurance or 80 percent underinsurance clause that reduces payouts?
- What exactly are the theft conditions at home, away from home, from a vehicle, and in a shared bike room?
- Does the policy pay first, before my homeowners or renters insurance, in every state?
- What deductible options are there, and does the deductible apply to every physical damage claim?
- Is loss or damage in transit by car, airline, and courier included?
- Can I add liability, and does it pay settlements and judgments or only legal defense?
- Is there medical coverage for my own injuries, and does it pay regardless of fault?
- What happens if an uninsured or hit-and-run driver hits me?
- Are racing, organized events, and riding abroad covered, and at what cost?
- Which e-bike classes are covered, and what is excluded: commercial use, cosmetic damage, borrowed-bike theft?
How to use it: ask for the policy form, not the brochure, and find the page that answers each question. The guide behind every question is on the home page: core coverage, stated value, optional coverages, primary vs. secondary, and claims and your home or renters rates.