The ABCs of Cycling Insurance
De Wet De Villiers
The cycling industry has boomed over the last few years, with the two-wheeled machine adapting to every social presence, need and niche under the sun. And, with bicycles and cycling equipment easily reaching the same value as cars these days, it has become even more important to ensure that you and your bicycle are adequately covered.
Who is it for?
First of all, there are three main categories when it comes to bicycle insurance:
- 1The Joy Rider that just hops on the bike every so often, or commutes to work.
- 2The Cycle Addict who doesn’t stop for anything – not even a rainy day.
- 3The Speed Freak, or should we say pro-rider.
Once you know where you fit in, it is easy to customise your insurance to suit your specific lifestyle.
Never assume that your bicycle, or equipment, is fully covered by your home insurance – no matter its worth.
What does it entail?
Comprehensive cycling insurance will have you covered for:
- Bicycles – include anything from road and mountain bikes to hand cycles.
- Accidental damage – to the bicycle or cycling accessories, as well as pothole damage to wheels during training or racing.
- Legal liabilities – arising from accidental loss or damage to third party property, or accidental death, bodily injury or illness sustained by a third party.
- Personal accidents – including death, permanent- and temporary disability cover.
- Theft and high-jacking – from home, away from home, in transit or due to hi-jacking duringtraining or a race.
- Trip cancellation – covers loss in terms of race entry fees, accommodation and travelling expenses if you are unable to participate due to unforeseen events. The applicable trip must however be stipulated in your policy schedule.
- Cycling accessories – include anything from your GPS and shoes to your helmet and glasses.
- Transit – loss as a result of theft, damage or a fire accident.
- Trauma counselling – after a violent theft, hold-up, hi-jacking and armed robbery.
How to get a quote
At De Wet De Villiers Brokers we strive to make access to insurance easy and hassle-free. For your convenience, you can obtain an obligation-free cycling insurance quote online.
In conclusion, it is worth investing your time in looking at the different insurance options and analysing your cycling insurance with the same level of detail you would with your car insurance. Ensure you understand your policy wording and what is covered under this section.
Source: Cyclesure
