The world of insurance is not limited only to home, bike or car. Goods which can ensure numbering in the dozens. Tourists can meet your travel, people can protect your pet with a pet and the self-employed insurance shielding your business.
That also can be sure before crowd of risks are lovers of bicycles. Coiling a pedestrian and that this requires you responsibilities, have an accident and not being able to continue cycling or suffer a burglary are some of the situations in which comes into play the safe bicycle.
What is bike insurance?
Bike insurance is an insurance product that can cover not only the vehicle against a possible theft or damage but also the rider that could be involved in an accident during the practice of this sport. Is intended, mainly, for those who using the bike regularly or who are in possession of a great value bike.
Basic coverage of bike insurance
Establishes basic insurance coverages each insurer when designing their products, allowing the user to add more coverage depending on your needs. Now, how many more guarantees include safe, the higher the price of the premium. As a general rule, the basic insurance for bikes includes the coverage of Social responsibility, travel and legal expenses assistance.
Liability coverage protects the rider from the damage they can cause to a third party during the development of the activity with a limit which is usually set at more than 150,000 euros, although the amount will depend on what each insurer set.
This coverage is responsible for the monetary amount with which you would have to compensate the injured party as a result of the evil that is could have caused him, as for example, the inadvertent trampling of a pedestrian.
The travel assistance guarantees the cyclist that will receive assistance in the case that you suffer a mishap during practice this sport. It is near or away from your home, in your own city or anywhere in the world. The territorial scope which covers this coverage depends on each insurance in particular, there are some that includes every country in the world and others that restrict it to those belonging to Europe. There are companies that to assist demand that the insured is some distance from your usual address, at least a couple of kilometres, but there are others that make it effective from 0 km.
Travel assistance coverage tends to be in charge of:
- Medical expenses abroad after an accident.
- Repatriation or transportation by death.
- Medical transport of injured in accident.
- Return early because, among other cases, the event of a serious accident in the home of the insured or the death of a family member.
- Expenses for travel and subsistence of a third party at the place where the insured is hospitalized for a minimum period.
- Location and rescue by disappearance of the insured.
An accident while it is riding a bicycle, causing damage to a third party and if it decides to put a claim is one of situations in a cyclist can see them involved. For this reason, bicycle insurance usually include legal expenses coverage, which helps and advises the insured providing a lawyer who will represent you and will defend during the process. It also tends to include telephone legal advice which allows the client to talk to an attorney should you have any questions.
Additional coverage of bike insurance
Bicycle insurance, like many others, allow the additional recruitment of more or less coverage in order to make them more complete. Thus, in addition to the warranties that usually sell most of the companies in their offer more basic, there are others that will increase the price of the policy but also the safety of the rider.
Damage and theft
It should damage the bicycle, the insured will cover, to the insured limit, the cost of repair or replacement of the picture or the compensation for bicycle parts. On the other hand, if it is stolen, the usual is that the company respond for this offence if it has occurred inside or outside the home as well as common as garages or storage areas. Now, whenever the bike is subject to a fixed item by a chain or approved padlock.
Plastic and reconstructive surgery
If as a cyclist accident saw damaged or deformed part of their body surface area and need surgery to get rid of the marks, the insurance company would compensate the customer for medical expenses long as has this coverage.
If the insured is forced to stay entered in a Center as he recovers from injuries sustained in an accident, the company shall indemnify the cyclist with a daily maximum amount for medical, pharmaceutical or hospital expenses generated during a period of time, that usually patrol the 90 days.Both the dollar amount and the maximum period during which the insured will receive compensation the company fixed them so can vary from one to another.
Disability or death
Bicycle insurance can also include a compensation in case of invalidity or death of the insured. The amount that can be received in the event of invalidity will be shorter or longer depending on the severity of this and will apply depending on the scale of injuries, while passing the insurance will indemnify to the beneficiaries of the victim with the contracted amount.
Through personal assistance coverage the company commits to search a person who helps the insured to perform their daily tasks during the time that can not be performed by itself as a result of an accident with the bike.
Bicycle and home insurance
Many times a person sees no need to hire a bike insurance either because it does not give much use, not likely see needing to be rescued at one time or in case of an accident would be covered by your life insurance from Mississauga. But and if it’s a bike of great value that is stored in a storage room or in a communal parking? If it was stolen, or the policy of home or communities of neighbours insurance would respond by.
The only course by which a home insurance covers the theft of a bicycle is if the insured has contracted housing content coverage and it is inside or in a storage room or garage private, closed with key and exclusive use of the insured. In addition, these places must remain in the community than housing.
Should inform the insurance?
Now, the value of the bike is a fundamental requirement that causes it to change the way in which this is covered by the policy of home. If your price is around 2,500 euros the insurer required to be informed of the possession of it and the owner will have to declare it as an object of special value. If the price is less than the 2,500 euros it is not necessary for the insured to notify your company’s holding of this asset.
In Spain, 3 out of every 4 people has, at least, 1 bike and 3 million Spaniards used it in their day to day, according to the Barometer annual of the bicycle of the Directorate General of traffic (DGT). Respect traffic rules and use extreme caution is key to travel insurance by bike. But for care that you have and experienced that it is there are things that are beyond the control of each one and which depend on other drivers or pedestrians.Bike insurance is a way to protect against possible accidents. Although if this policy home insurance, if you have it, is not a good choice of shielding the bike theft, provided that the necessary requirements are met.