Yes, there is such a thing as cycling insurance. Here’s what you need to know—and why you might need it.
For years, I’ve advised bike riders to piece together cycling insurance through a combination of other types of policies, such as auto or homeowner’s. Problem is, that can leave gaps in coverage, especially if you don’t own a car. Comprehensive insurance policies for cyclists have never been available in this country—until now.
About a year ago, I was contacted by a cyclist who also happened to be in the insurance business. He wanted to do something about the unmet need for bicycle insurance. We exchanged ideas, and he consulted members of the bike industry as well as national and regional cycling clubs and organizations. The result is Spoke Bicycle Insurance. It’s currently available in eight states: Arizona, California, Hawaii, Idaho, Nevada, Oregon, Utah, and Washington. Here’s what it covers.
Damage from Uninsured/Underinsured Motorists
This is the most important piece of insurance for any cyclist. It protects you in the event of a collision with an uninsured or hit-and-run driver. In the past, you needed to own an insured auto in order to be covered. If you are a car-free cyclist, bike insurance is the only way to get this coverage.
You’ll be protected if you hurt someone while riding your bike, the same way an auto-insurance policy covers you if you harm someone while driving a car. (Worth knowing: You may already be covered by homeowner’s or renter’s insurance.)
Bicycle insurance will cover your medical bills in the event of a crash, reimburse you for the value of your bike if it is stolen, and provide assistance if your bicycle breaks down during a ride. Racers may opt to add trip-interruption coverage.
Research and assistance by Rick Bernardi, J.D.