Among the different insurance categories that have been gaining ground in the cycling scene, one sure type of bike insurance has stood out: security and peace of mind for cyclists, be it athletes or sports enthusiasts.
Any bike worth between R$3,000.00 and R$70,000.00 can be insured. Such a policy provides total coverage with the guarantee of the maximum amount contracted to compensate for theft, damage, accidents, among other problems.
This tells you that not having insurance is crucial to have peace of mind while riding your bike or participating in competitions. Do you have questions about getting this insurance? Read on to learn more about the subject!
What is bike insurance?
Bike insurance is an insurance product developed to meet the needs of bicycle owners who want more peace of mind regarding the risks involved in using their vehicle.
It protects against theft and robbery, damage and accidents occurring while cycling and during transport, as well as bodily and material damage caused to third parties. Coverage can be contracted according to your needs.
When to take out this type of insurance?
This insurance is recommended for anyone who has a bicycle valued between R$3,000.00 and R$70,000.00. The sum now for whoever wants to protect his assets from the risks that come with using the vehicle.
What are the benefits of bike insurance?
A common query amongst bicycle owners worries the blessings of putting off insurance. We are so used to automobile insurance that it may appear extraordinary to put money into motorbike insurance.
To recognize those benefits, you need to don’t forget the risks associated with using a motorbike. Although these risks may additionally appear minor, they do exist and might cause a variety of headaches once they arise.
Below, we show you some common situations that may arise while you are enjoying your bike ride and the benefits that insurance will bring in these cases. Check it out!
1. Financial support in case of theft or robbery while cycling
No one expects to be mugged while cycling. However, we know that this risk exists, both for those who cycle in busy areas and for those who like to enjoy quieter routes.
The high crime rate in the country is a major concern for cyclists when they go out to ride their bikes. Therefore, going out alone is already a big risk, since no one knows where and when a robbery might happen.
Bike insurance is the most essential service for people who enjoy cycling, either individually or in a group. In case your bike gets stolen or snatched, all you have to do is gather as much evidence as possible like photographs of the place, statements from people whom you met at the earliest instance after the occurrence, file a police report and make a claim.
2. Right to compensation if the bike breaks during a competition
Competitive cycling is extremely enjoyable and a very healthy habit for those who practice it. The problem is that there is a remote chance that you could have an accident during a race if key parts of your bike break, such as the frame, suspension or handlebars.
Therefore, having insurance for your bicycle ends up being an effective way of eliminating the loss of a possible accident during competitions and sporting events throughout US and around the world.
The amount of compensation varies based on some estimates made by the insurance company, which will assess the case and approve the maintenance of the bicycle. Here, the benefit can be significant, especially if your bike is valued at a higher value.
3. Support in case of theft while the bike is parked
Many places and establishments offer parking with a separate space for people to store their bikes. However, even in broad daylight, there are malicious individuals capable of stealing your vehicle discreetly, going unnoticed even on busy roads.
Having insurance is a guarantee of avoiding headaches with the loss caused by theft, in addition to alleviating day-to-day worries in cases of other possible accidents that may occur with you and your bike.
4. Compensation for damages caused to third parties
Even with all the care in the international, injuries can appear. Cycling in city centers regularly requires more attention, whether with traffic or pedestrians.
Therefore, in the event of an accident, such as a collision with vehicles or people, bike insurance is a relief for the policyholder. This service can repair material, physical or moral damages, minimizing the loss that you would have suffered if you did not have a policy.
Remember that coverage should be purchased taking into account your needs. Third-party damage coverage is recommended for everyone, as it provides financial security and support in the event of accidents involving other people.
5. Support for risks and problems involving pedaling in unknown places
People who ride bicycles usually enjoy visiting unknown territories. This, no doubt, is one of the most exciting activities related to sports. Nevertheless, whether in a group or alone, cycling in unknown territories is always tougher.
One of the risks is having your bike stolen or robbed, or even having your bike damaged and not knowing how or who to seek help from. Depending on the coverage chosen, the insurance may offer support if you have any problems while cycling in an unfamiliar location.
6. Support if needed
This is a benefit that can also make a difference in many situations. If your bike breaks down, you have an accident or face any difficulty that fits into the insurance claim, you can immediately contact the insurance company in order to receive the necessary support.
7. Great value for money
Finally, we cannot fail to highlight the cost-benefit. The cost of bike insurance is compatible with the benefits it brings. In general, it is not heavy on the pocket, especially if we consider all the support received in case of need.
The tip is to consider the cost of your vehicle and the expenses you would incur in the event of theft, robbery or accident. By making some cost projections and comparing the price of insurance, you will certainly realize the advantage of investing in this protection.
How to choose the ideal bike insurance?
The first step is to understand your needs. Insurance products are designed to meet different customer profiles. Evaluate the value of your bike, the budget available to pay for insurance, and understand which coverages are essential according to your routine.
Before hiring, it is essential to research the available options, evaluate the reputation of the insurer and broker and obtain a quote from more than one company.
The insurance policy contains all the information about the product you have purchased. Read the document carefully and if you have any questions, ask the broker for clarification. The insurance broker’s service should be quick and transparent. If you have difficulty maintaining contact or receiving feedback, seek another professional.
When taking out bike insurance, it is also a good idea to choose companies that offer nationwide insurance coverage. This way, you can travel and take part in competitions across the country without any worries and with the guarantee that you will receive support if necessary.
It is also worth considering whether the insurance company you choose offers additional benefits. Some insurance companies have partnerships with companies, offering discounts on products and even points in mileage programs.
The importance of customer service when taking out insurance
Every time you are taking insurance, pay extra attention to the service that a broker provides. Anyone who ever has had to make an insurance claim during a claim knows how important fast and straightforward service is at such a time.
Hence, you should favor the companies which will offer personalized and fast service. After all, in the case of theft, robbery or accident, you would want to know that you are going to receive the support that you contracted.
Furthermore, never take out insurance without first clarifying all your doubts. Good professionals are prepared to answer your questions about the policy, coverage, documents and procedures.