May is National Bike Month so it’s time to grab your helmets and go. But as you do, understand how you’re protected in the event that your bike gets lost, stolen or you hurt someone while you’re riding? Depending on the degree of your passion, a bicycle can be a major investment that can be as well protected as your car.
Here are some questions to ask your NEC insurance professional before you hit the road:
- Am I protected if my bike is damaged while it’s secured to my vehicle?
- Am I protected if my bike is damaged by another vehicle while it’s secured to mine?
- What if it’s a hit and run?
- What happens if someone else’s bike is secured to my vehicle and it gets damaged?
- Am I covered if my bike gets stolen while it’s attached to my vehicle?
- Do I have any protection if I physically hurt someone while I’m riding?
The answers to these questions will be typically based on what type of homeowner/renter or auto coverage you have. In some cases a home owner/renter policy will apply, in other situations it will be your vehicle insurance. Regardless of the policy, you will have to pay your deductible first. In any situation, we strongly recommend that you file a police report in order to document the incident for your protection.
You can purchase a policy that specifically covers the full cost of repairs or the full replacement cost if the bicycle is not repairable or you can purchase a policy specifically for your bicycle if it’s valuable enough to warrant the expense. Your NEC insurance professional can recommend the best way for you to get the protection you need. Contact them at 636.271.2481 or visit www.NECINS.com.
NEC is one of the largest independent insurance brokers in Missouri offering business insurance, personal insurance, risk prevention, and financial services. Contact us today for more information at 636.271.2481 or visit NECins.com.