Cycling has been a popular and important sport in Europe, Australia and America. This prestigious sport attracts youth very much and they love cycling for speed and thrill. Cycling has been an Olympic event since 1896. Today hundreds of youth are associated with this adventurous sport and try to achieve goals in sporting events. Again, many people love cycling but do not participate in sporting events. Whoever it is, the most important and expensive element is the bicycle. Today sports bicycle is quite expensive, and just like a motorcycle or an automobile, is damaged or are exposed to different types of threat. Hence, in this field too, many insurance companies have launched special Bicycle Insurance provide insurance coverage to cyclists and their cycles.
Bicycle Insurance is certainly necessary to cyclists. As everyone with a motorbike or vehicle wishes the machine to be covered under insurance cover to control any unfortunate incident or third party damage, bicycle insurance too has same importance.
The factors for availing bicycle insurance are:
1. Damage arising out of racing or travelling
2. Property damaged in an accident (not just the bike)
3. Damage to someone else’s property caused while biking
4. Theft at home or elsewhere
5. Damage caused due to driving into the garage with the bicycle on the roof rack
6. Injury while cycling
In Australia there are specialist Bicycle Insurance companies while in other parts of the globe bicycle insurance are offered by normal insurance companies besides providing other different types of insurance in other fields. Many bicycle associations in many countries along with providing membership also offer clubbed bicycle insurance for the benefit of their members.
Most of the Bicycle insurance policies cover –
1. Worldwide coverage
2. Free worldwide personal liability
3. Replacement of damaged or missing of bicycle with new one
4. Loss while in transit on a public transport or carrier
5. Accidental damage during leisure or competitive cycling
6. Injury during cycling
7. Damage incurred to third party in person or to property during riding
Bicycle insurance just like any other insurance is indeed a necessity to get peace of mind. If peace of mind exists with proper bicycle insurance, the biker can easily concentrate more on the sport and achieve new heights in fame. However, before choosing or subscribing to Bicycle insurance, it is always better to do some research and understand every details of the insurance policies.