Bicycle Insurance- To Buy or not To Buy?
Until recently, filing a damage claim with the airline was your only alternative when the bike was damaged in transit but now you have the option of purchasing a 12 month insurance policy to protect your bike from a multitude of risks, including airline damage.
Whoever thought up the concept of insurance was very clever. They offered to take money from a lot of people, on an ongoing basis, in exchange for paying out an unspecified sum of money at the time of a “loss,” as defined by the terms of a contract.
Why Consider Insurance?
Today, we have insurance for all sorts of things including auto, health, home, and even human life.
All sorts of reasons exist for buying insurance. The most common is fear of financial loss.
Lets face it, a bike can be expensive- very expensive. Add on your bike case and then everything else and you’ll quickly realise that there’s a lot of money at stake.
When compared to your yearly spend on cycling equipment, the cost of insuring your Cycling arsenal might be a small price to pay to protect your cycling assets.
Lots of people insure their bike for theft or damage but don’t realize that most insurance companies also cover travel damage or at least offer it as an add-on option.
Whether you are a world traveller or riding your bike locally, a bike insurance policy offers peace of mind that if something unexpected happens to your bike in transit.
What Is It?
Bike Insurance provides cover specifically for cyclists where other more general insurance such as Home Insurance may not. It is designed for the cyclist to protect property in the event of loss and damage in situations such as accident, travel and crash damage, loss through theft. Some policies may also offer racing specific cover.
You can get an annual insurance policy for as little as £16/€20/$25
For more info on how to get your bicycle insured for travel click your country name:
When considering policies there are many details to consider, some include:
-What is the limit on the maximum payout values?
-Most policies offer ‘new for old’ replacement policies however some have restrictions such as if declared a total loss after 2 years of purchase from new or if left unlocked or outside of view;
-Additional premiums may apply for equipment/accessories;
-Some damage may be considered repairable rather than replaced;
-Some accessories and equipment such as wheels may be required to be listed separately;
-Some insurers may require the use of specific locks;
-Some content insurers may not cover bicycles away from the home or require to the bicycle to be listed on the policy; and
-Some insurers offer a range of other insurances from Life to Travel insurance which may offer the convenience of bundling policies and insuring with the one company.
The important thing is, do not take your current insurance for granted. Consider all options, take photos of your property, record serial numbers, keep receipts and/or record costs, be aware of replacement values, talk to your riding buddies, seek advice from an independent insurance advisor and always ask questions covering a wide range of circumstances. When travelling, check you’re bike for damage as soon as you arrive at your destination and fill in an airline claim form if you do identify any scratches, dents, rips or cracks to your bike and the case. The airline should cover at least some of the damage caused in transit.
Where our products come in:
Some of our customers have said that the best insurance you can get is a Scicon bike box or bag. It’s definately an assurance. With over 30 years of experience in designing and manufacturing bicycle cases, we are the leader in bike transportation.
Our Aerotech Evolution TSA hard case is made from ABS and polycarbonate which are the most shock absorbent platics on the market. This bike box also has reinforced TSA Key locks and a bumper driver to protect locks from impacts and shocks. Inside is high-density padding, two covers for bike wheels and foam tubes. On top of this the Suspended Frame System (SFS) is a smart strap system which holds the bike’s frame in a floating position when the case is upright.
Our AeroComfort 2.0 TSA, Triathlon and MTB models include an inside stabilizer system which is an innovative adjustable strap combination and a saddle cover that hold the bike in the critical areas. Alongside this are the external lateral cups to protect the wheel hubs, bottom reinforcement, double padded inner pockets, rear derailleur protector, extra strong wheels and most importantly the antishock bike frame.
Disclaimer: This information is presented ‘as is’ and is not presented as insurance, financial or legal advice. This information is offered as an overview and is not a complete list of policy coverage, terms, conditions or exclusions. Ensure you read the Insurers Product Disclosure Statement, discuss the policy with the relevant insurance company and make decisions based upon your own individual circumstances. Insurance cover is subject to the Terms & Conditions of the insurance policy. Insurance Policies are renewed periodically and subject to change at any time without notice.
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