5 reasons you need bicycle insurance

Don't think you need bicycle insurance? Here are a few surprising facts you probably didn't know that may change your mind.

Does your current insurance policy cover injuries to you or others resulting from a bike accident? Are you covered if your bike gets stolen from some place other than your property? These factors are just a few of the many you should consider, whether you're a serious rider or just enjoy casual afternoons out on your bike.

Many people forego bicycle insurance and just buy a bike lock. While a lock and chain can certainly add some measure of security, it would be a mistake to assume that they're enough to prevent theft 100%. They just don't. Bikes can still be relatively easily stolen even with lock and chain.

If you have a high-priced bike, you may be at even greater risk for attracting the attention of thieves. Insurance can't prevent theft either, but it can protect you from paying the cost of a replacement bike out of pocket.

As anyone who has ridden a bike knows, the unexpected can happen in an instant. While you might be a paragon of safe cycling practices, that doesn't prevent accidents caused by other people, and these accidents can sometimes result in property damage.

You may not have to pay out of pocket for someone else's mistake. Bike insurance can help cover property damage.

In fact, even if your insurance company has written in special coverage for the value of your bike, it may still not be entirely covered due to exclusions or other limitations. The truth is simple. For the best coverage for your unique bicycling habits, don't try to lump your bike in with other policies. A policy specifically devote to your bicycle is the smartest, safest bet.

Depending on the policy you choose, bicycle insurance can offer coverage for more than just a stolen bike. Coverage is available for things like spare parts, riding apparel, accessories and more. Whether you're a weekend rider or daily rider, you can rest easy knowing your equipment is safely accounted for by your insurance policy.

If you're considering bicycle insurance, you'll find the best options by asking your insurance company the right questions. Here are a few to get you started:

• Will I be covered while using my bike?
• Will I be covered when my bike isn't at home?
• Does this policy cover personal injury and property damage?
• Will I be covered during a bicycle race, or while overseas?
• Does this policy cover both damage and theft?

By approaching your insurance company with the right questions and a little background knowledge, you can ensure that you get the policy that's right for you. Bicycle insurance doesn't just protect your bike - it protects you.