Bicycle Insurance for you and you bike is one of those fuzzy areas for most bike owners and riders. Understanding what is covered, what is not covered, and for how much, is important to know before an theft or accident occurs.
Two basic and critical pieces of "insurance" are
Have you ever given thought to what would happen if you had a bicycle accident, either with you or the other driver/pedestrian/bicycle being at fault? Are you covered? Are the other people or their vehicles covered? Is your bike covered? What if you are injured and have to take time from work? And what if you don't have car insurance?
Most of us don't think about these accidents very much. But I would suggest that next time the premiums for your car and house come up for renewal, that you take the time to call your agent and ask them just what is covered in the event of an accident involving you and your bike. You might be surprised to learn that in many cases a combination of all of your different insurance policies will come into play.
And it's best to have that idea BEFORE something happens.
In today's bicycle environment some of those bicycles that we own are very pricey and may not be covered under some of our standard home/car policies as they exceed deductible limits or don't get listed properly.
Until recently, BICYCLE INSURANCE per se, was not something easily attainable in the United States. Although in Europe it is common to find insurance policies specifically designed for bicycles. ( In fact the types of locks used to secure one's bike in the UK are given safety ratings which affect the insurance charges that one might have to pay. The better the lock, the lower the premium.)
But now in some US states, there are some insurance coverages available that are specifically designed for the bicyclist and the bicycle. Check these out with your insurance agent.