Bicycle Safety and Insurance

Bicycling is increasingly popular, both as a sport and as a means of transportation. And bicycles can cost anywhere from several hundred dollars for a basic bike to thousands of dollars for specialized racing bikes.

Bicycles are covered under the personal property section of standard homeowners and renters insurance policies. This coverage will reimburse you, minus your deductible, if your bike is stolen or damaged in a fire, hurricane or other disaster listed in your policy.

If you are purchasing a new bicycle, keep the receipt and add the bike to your home inventory list. If you own an expensive model, call E. R. Munro and Company at 1-877-376-8676 to review your options. We may recommend an endorsement that will provide additional coverage.

Homeowners and renters policies also provide protection for harm you may cause to someone else or to their property. In the event you injure  someone while riding your bike, your policy includes no-fault medical coverage, usually ranging from $1,000 to $5,000. If the injured party decides to sue, you will be covered up to the liability limits of your policy so, as always, make sure you have adequate coverage to protect your assets.

If you are unsure what coverage you have, give us a call.