Cycling Insurance?

[Edudbor]

Wasn't sure where to post thing, but it's sorta an equipment type question.

I pay for car-insurance, it protects me and whoever I might have an accident with. It's required by the people who gave me a loan for my car, and required by law - so it's a generally good thing to have.

Now that I'm riding my bicycle, I've replaced about 50% of my driving with riding. I'm still paying 100% of what I used to pay for insurance, but I'm essentially only getting half the coverage.

If someone hits my bicycle and causes damages to it and myself, my car insurance certainly won't cover that, right?

Is there such a thing as bicycle insurance? I know there is insurance for motorcycles and for cars. Also, (and I'm sure the answer is 'no') - but is there any chance in getting some sort of discount from my car insurance now that I spend half of my driving time on a bicycle?

 

[bobt1970]

Most of the cost in auto insurance is to cover possible medical costs if you were to seriously injure someone which can be high enough that most people can't afford to pay damages on their own.

If you hit a car, the damages that you do to the other person will be comparably small.

If a car hits you, then their insurance should pay for your bike and medical bills.

 

[Edudbor]

Most of the cost in auto insurance is to cover possible medical costs if you were to seriously injure someone which can be high enough that most people can't afford to pay damages on their own.

If you hit a car, the damages that you do to the other person will be comparably small.

If a car hits you, then their insurance should pay for your bike and medical bills.

Insurance also covers the damages I do to my car (for example, I hit a deer, my insurance covered the damage to my car) and my insurance protects me from uninsured/underinsured drivers.

I dunno, I guess if nobody has it, it isn't that important; it just seems like something that would be a good idea. If should be significantly cheaper than auto-insurance for all the reasons you gave.

But I think I'd feel safer riding if I knew I had some financial protection from an accident.

 

[Sikhandar]

Is there such a thing as bicycle insurance?

There's an insurance for the rider, if you mean that. For example, I'm a member of the FCI (Italian Federation of Cycling), that's a member of the UCI so I have an insurance that follows me both if I'm training or racing... (though there's no "coordination", of course, with other insurances that I have)

It costs about 50€ / year, though my team pays for me.

 

[JTE83]

Bikes can be insured through your renter or homeowner's insurance as sporting goods. I pay $55 / year to cover $30,000 worth of bike with a max of $5000 per bike. That's through my mom's homeowner's.

 

[John M]

I am not in the insurance business so I am not an expert but the following info is based on past personal experience.

Some car insurance will give discounts for very low miles driven/year. I put less than 1500 mi/year on my car and around 2500 mi commuting on the bike (maybe another 1000 mi in additional bike riding).

An expensive bike might be insurable on a home owners policy as a supplemental add-on rider (kind of like what one gets for jewelry, artwork, or computer equipment).

Make sure your you have health insurance. It will cover your body in the event that you crash.

 

[John M]

Bikes can be insured through your renter or homeowner's insurance as sporting goods. I pay $55 / year to cover $30,000 worth of bike with a max of $5000 per bike. That's through my mom's homeowner's.

I say this in jest, but anyone who has $30,000 worth of bikes, needs to move out of mommy's house.

 

[kdelong]

You can get insured for anything! You just need to talk to the right insurance agent. Most people don't carry bicycle insurance to cover the cost of repairs or replacement of a bicycle. The cost of most bikes is but a very small fraction of the cost of a car. The damage that a bike can do is miniscule compared to the damage that a car can do. The cost of repairing a bike is nothing compared to having a car repaired. There is really no need for bicycle insurance unless you are like JTE83 and are using your mother's house as a bicycle museum .

 

[J5311]

I say this in jest, but anyone who has $30,000 worth of bikes, needs to move out of mommy's house.

what if he's taking care of mommy?

 

[alienator]

There's an insurance for the rider, if you mean that. For example, I'm a member of the FCI (Italian Federation of Cycling), that's a member of the UCI so I have an insurance that follows me both if I'm training or racing... (though there's no "coordination", of course, with other insurances that I have)

It costs about 50€ / year, though my team pays for me.

Activities like cycling generally aren't covered, except in ways like the one mentioned by Sikhandar. You can buy special insurance from a lot of "activity/hobby/sport" specific governing bodies. I had it when I was racing motorcycles and got it through the series I raced in. The American Alpine Club has coverage for rescue costs around the world.

Outide of stuff like that, as someone else said, you can get damned near anything insured, but insuring those things that ain't normally insured is likely to be expensive. I figure that if I crash by my own doing, then it's up to me to pay, much like I'd expect to pay if I rapelled off the end of my climbing rope or dropped a bowling ball on my foot. Of course, I have health insurance, so that will cover the medical costs. If someone--and here I mean a car driver, motorcyclist, and etc.--puts me on the tarmac, then their insurance will pay me and my attorney...er....brother.

 

[alienator]

I say this in jest, but anyone who has $30,000 worth of bikes, needs to move out of mommy's house.

Why jest about it? He lives off Mommy and the rest of society, while rationalizing why it's okay to pummel senior citizens just because his paranoia has run amok.

 

[Fujiman]

I agree with just about everything everyone is saying, but what if someone hits you and doesn't have insurance? Some woman pulled out in front of me about 3 years ago and I broad sided her (no pun intended) hard to believe she had a brand new car and no car insurance, my insurance paid to fix my truck but what if I had been on my bike? I guess I would have had to pay for a new one myself or sued her, but you know the old saying you can't get blood out of a turnip!!

 

[capwater]

My team looked into it from a bike replacement cost, even have some lawyers on board, but one sticking point was racing which tends to void many policies. As as medical costs go, you would either be covered under your personal healthplan (or government run for those socialist states) or the person who hit you. Having been in a recent car wreck (actually driving home from a time trial), I can atest you'll get your cash out of their insurance company but it might take some effort.

 

[surfinbernard]

I just bought my first ever 'nice new' bike, and whilst it is a relatively cheap bike in the world of serious bike people having cost less than £200, I still could not afford to replace it should it get stolen or trashed. I have taken out cycle insurance for just £20 per year- peace of mind when I lock it outside the gym!

SB

 

[threaded]

I agree with just about everything everyone is saying, but what if someone hits you and doesn't have insurance? Some woman pulled out in front of me about 3 years ago and I broad sided her (no pun intended) hard to believe she had a brand new car and no car insurance, my insurance paid to fix my truck but what if I had been on my bike? I guess I would have had to pay for a new one myself or sued her, but you know the old saying you can't get blood out of a turnip!!

My experiences:
Quite common in the UK. I got offed once by a woman driver, no tax, test or insurance or surprisingly a driving license at all. Luckily I had a 'fully comprehensive' insurance where the insurance company pays out whether the other side is insured or not (also means they would pay out to me even if it was my fault).

In Denmark a car has to be insured to get plates, and the car insurance also insures the cyclists side if they get into an accident with one. Which IMHO is a pretty good idea, and should be taken up everywhere. So no insurance, no plates, and if you fail to return the plates, the Police turn up, and with much ceremony, remove them. You do see cars without plates on the roads, but generally they're trying to avoid the speed cameras, and the Plod are jumping hard on them currently.

In Holland there were some areas with religious groups who felt it was morally wrong to have car insurance. Their Church provided cover, and generally didn't argue to the point of pointlessness like insurance companies do. I never did hear of one doing a runner when an accident occurred either, which is nice.