Bicycle Insurance: Best Cyclist Insurance 2022 (Updated)

Bicycle Insurance
Image Source: SUREWiSE

Bicycle insurance is a special insurance policy that protects not only your bike from damage but also theft and liability. Although homeowners and renters policies provide financial protection through liability insurance, if you harm or damage someone else’s property while riding your bike. However, they don’t insure your bike if you collide with a tree or pedestrian or fall off your bike. They only provide insurance for your bike if you directly add it to your homeowner’s insurance policy. In the USA, the Geico, USAA, and state farm are some of the best insurance companies that provide the maximum bicycle insurance policies you will need. Let’s look at their insurance offers.

#1. Geico Bicycle Insurance

GEICO bicycle insurance has amazing motorcycle accessory coverages. They not only ensure the bike, but also the unique personalizations that make it yours. Geico offers a bicycle insurance policy that insures the following motorcycles in the USA: sportbikes, cruisers, touring bikes, Enduros, scooters, dirt bikes, trikes, and some custom bikes. They assist cover you if you involve in an accident. The necessary coverage limitations differ from state to state. You can contact your local Motor Vehicle Department to get information about your state. However,  a GEICO bicycle Insurance quote helps you to adjust the coverage to match your needs.

How does Geico Bicycle Insurance Work?

Geico bicycle insurance is part of auto insurance coverage. They provide comprehensive coverage at an affordable price whether you’re a hard-core rider or a weekend warrior. With GEICO, you can stand out from the crowd by tailoring your bicycle coverage to your specific needs. Choose the type of coverage you need for your bike, the deductibles you prefer, and the payment plan that works best for you.  Geico is a strong, stand-up firm that has been insuring motorcycles and riders since 1978. Geico provides reasonable pricing, 24-hour customer support, and prompt, fair claim handling.

In addition, some coverages are compulsory by the state, while others may be voluntary. For instance, liability coverages are normally required by the state and cover any damages or injuries you may cause to others in the event of an accident. They also cover other damage to your motorcycle, accessories, and even coverage to help with towing and roadside assistance. However, you can personalize your policy by selecting optional limitations and coverages.

What Does Geico Bicycle Insurance Cover?

Geico bicycle insurance protects you, your bike, and other drivers on the road. If in any way there is any occurrence of accident, theft, or curb.  GEICO provides some of these bicycle insurance policies below in the USA. They include:

#1. Collision Coverage

Collision coverage varies from state to state they protect your helmet as well. They pay for eligible bicycle damage when it collides with or is collided with another vehicle. 

#2. Comprehensive Physical Damage Coverage

Comprehensive physical damage protects your accessories example; saddlebags, backrests, seats, chrome accents, and CB radios. You can also buy additional coverage as well. They also pay for covered damages caused by occurrences other than collisions, such as theft, fire, or vandalism.

#3. Bodily Injury Liability Coverage

Insures you against certain damages if you harm or kill someone while riding your motorcycle and also provides you with legal protection if another person in the accident sues you. Geico offers several levels of protection you can choose from.

#4. Property Damage Liability Coverage

Geico Insures you against certain property losses caused by your motorcycle while riding it. They also provide you with a legal defense if another party initiates a lawsuit against you. 

#5. Uninsured/Underinsured Motorist Coverage

They pay for an injury sustained by an uninsured driver in a collision that wasn’t your fault. Other coverings they provide are towing and labor which helps you if you need a jump start, a tow, or other similar services. They also provide coverage for medical payments, no-fault, or personal injury protection. This covers you and your passengers for medical expenses. In most states, you can choose medical coverage.

#2. USAA Bicycle Insurance

Usaa provides auto insurance for all types of personal automobiles and bicycle insurance through third-party carriers. The USAA Insurance agency provides insurance for almost every other type of vehicle, including motorcycles, mopeds, all-terrain vehicles (ATVs), collectible automobiles, motor homes, boats, and aircraft.

In addition, the USAA insures the majority of motorcycle makes and models, including American iron, high-class imports, high-performance sport bikes, trikes, cruisers, classics, customs, and even scooters.

What Does USAA Bicycle Insurance Cover?

While most people associate motorbikes with street bikes or classic cruisers, USAA provides coverage for a wide range of automobiles. These are some examples of the coverage they provide

#1. Comprehensive

Comprehensive coverage assists in the repair or replacement of your bike. if it is damaged due to an incident such as hitting an animal, fire or floods, glass damage, or hail. It is frequently required if you are leasing or financing your bike. For instance, If you accidentally hit a tree or a wall causing $3,000 in damage. You will have to pay a $1,000 deductible, and your policy will generally cover the remaining $2,000.

#2. Collision

Collision coverage pays for your bicycle if there is an incident such as collisions with immovable objects or collisions with other vehicles while riding. It is frequently required if you are leasing or financing your vehicle. While liability covers damage you do to others, collision assists in the repair of your bike regardless of who is to blame.

#3. Uninsured/Underinsured Motorist. 

Although most states mandate insurance, not all riders comply with the law. Uninsured/underinsured motorist coverage protects you from drivers who do not have enough coverage. These coverages may pay for your injuries if you are in an accident caused by a driver who is either uninsured or has insufficient coverage. Depending on where you live, they may also assist you in fixing damage to your bike.

Example: If a rider hits you and you secure some injury by another person who does not have insurance or enough coverage. Uninsured and underinsured motorist coverages may assist pay for your medical expenses. If your bike is damaged in an accident and you don’t have collision coverage, uninsured and underinsured motorist coverage may assist pay for repairs.

#4. Liability

Liability coverage protects your assets if you are legally responsible for another person’s injuries or death as a consequence of an automobile accident. It also contributes to the cost of repairing or replacing the other person’s property loss.

This coverage assists with the payment of damages and injuries. It also helps to pay legal fees if someone sues or makes a claim against y you. 

#5. Medical Expenses.

Medical expenses. If you secure an injury in an accident, no one wants to be anxious about medical expenditures. Medical payments coverage assists in the payment of medical expenditures 

When you get bicycle insurance from USAA, you will have the choice of purchasing any of these basic coverages. However, USAA does not offer its bicycle insurance. Instead, USAA collaborates with Progressive to provide superior motorcycle insurance to its members.

#3. State Farm Bicycle Insurance

State Farm also provides bicycle insurance for riders in the USA. As one of the largest nation’s auto insurers, they provide a wide range of additional insurance and financial products that are only available through State Farm agents. State Farm may be the correct choice for you if you want a well-known brand name with a large selection of goods and reasonable pricing. Furthermore, State Farm provides a tool that can give you an idea of how different bicycle makes and models may affect your insurance. Aside from ensuring your bicycle, taking care of it and staying safe will help you avoid loss.

How Sate Farm Bicycle Insurance Works

State Farm bicycle insurance is popular with fewer complaints than other large competitors. They give generous coverage and discounts for good driving habits. They provide numerous discounts, including two programs aimed at responsible driving and young drivers. However, you can get personal attention from any agent across the country if you make a claim. They ensure the same dependable service from the top auto/bicycle insurance provider in the USA. Your claim is handled quickly and consistently and you can qualify for the 4-hour roadside assistance.

State Farm Insurance Coverage

#1. Liability

They provide coverage for bodily injury and property damage and liability costs for injuries, fatalities, or property damage.

#2. Uninsured/Underinsured Motorist Coverage

They provide coverage for medical and property damage charges following a collision with a driver who has little or no insurance.

#3. Collision

They provide collision insurance. They also repair costs from traffic accidents, regardless of who is at fault. 

#4. Comprehensive Coverage 

Comprehensive coverage pays to repair properties incurred as a result of occurrences beyond your control, such as weather, hitting an animal while driving, theft, and vandalism. State Farm customers may expect above-average customer service. However, State Farm receives fewer complaints than the average insurer of its size, 

Conclusion

Bicycle insurance policies are generally more comprehensive than homeowner’s or renters’ insurance policies. However, bicycle insurance is less expensive than car insurance in the USA. Although there are exceptions for homeowners, depending on where you reside and the value of your bike. You may end up paying more for bicycle insurance than you would for a car.

Bicycle Insurance FAQs

What is NCB in bike insurance?

NCB is an abbreviation for No Claim Bonus. If a two-wheeler policyholder does not file a claim in the previous policy year, he or she is eligible for this benefit. Instead of filing a claim with the insurance company, the policyholder may choose to bear the costs of bike repair on his or her own.

Which type of insurance is best for bike?

A comprehensive two-wheeler insurance policy is the best option for bikers. It provides comprehensive coverage for damage to your vehicle as well as damage to a third party’s vehicle or property. It also covers the policyholder in the event of theft or loss of his or her two-wheeler.

Do you need insurance to cycle?

Ensuring your bike is not required by law, but it might be a good idea. If you want to protect your bike from theft and accidental damage, or if you travel and race frequently and want to be prepared for anything, investing in bicycle insurance is a good idea.

How do I claim my bike insurance?

  • To claim Bike Insurance, the following documents are required:
  • Insurance claim form.
  • Copy of the bike’s tax payment receipt
  • Driver’s license
  • RC copy of the bike.
  • Documents on insurance policies.
  • Copy of the FIR in the event of third-party bike damage, injury, or death.
  • Repair fees and receipts
0 Shares:
Leave a Reply

Your email address will not be published.

You May Also Like