Bicycle insurance

[DAVE WILLIAMS]

Hi Dave, quick question for you regarding Velosurance. If I have a car, does the uninsured motorist coverage I have with my car insurance policy cover my bicycle accident first or does my Velosurance vehicle contact protection benefit cover me first in the event that an uninsured motorist hit me? I'm asking because I'd like to avoid excess coverage and in the video interview it sounds like you guys try to identify and avoid these situations. Thanks!

Uninsured Motorist auto coverage is insurance to guard against medical injuries when those injuries are caused by another car/auto that has no insurance, insufficient insurance, or cannot be identified, such as a hit and run. We recommend that all our clients make absolutely sure that their personal auto policy has uninsured motorist coverage. UIM is the most important coverage for a cyclist because UIM covers the personal auto policy holder for medical injuries caused by an UIM car/auto.

When we review a prospective client quote request we offer alternative quotes that do not include the Velosurance Vehicle Contact Protection because it would be a duplication of coverage. Hope this helps.

 

[FitzChivalry]

I have had my policy for a little less than two months, and after 480 miles of flat-free riding, I hit a black plastic something on the road before the sun had fully risen. My cycle light is awesome, but it wasn't awesome enough to give me time to get stopped or around whatever the item was.

So at 7:22 I called for roadside assistance. I needed to provide information that I had to look up on my smartphone (such as my friend's address, where I was to be dropped off at), which took me making a return call and a total of about 30 minutes. Another 30 minutes and the flatbed tow-truck had arrived. 20 minutes after that, and I was to my destination. The only problem I had was the needing to look up information and the fact that the first person at the call center was a non-native speaker of English; with me being on a noisy road, she had problems understanding me, and I understanding her. When I called back, I got a native speaker, and the phone call went much more smoothly.

I emailed @DAVE WILLIAMS to let him know that I'd be posting about my experience, and so he looked up my record and found that the tow I got would have cost me $142 if I hadn't had the insurance policy. That's a bit less than 1/3 of the total insurance premium for the year. The roadside assistance part of the policy costs $10/year, and provides a total of up to 5 roadside services. What a deal!!

I'm very glad that I got the policy. However, I'm hoping to be able to do my own flat-tire repair in the future. I went to my LBS to get the tire fixed this morning, and watched the guy unhook everything, replace the inner tube, and re-hook everything up. I feel more prepared for a roadside tire repair.

I'm still on the lookout for 28" x 1.95" straight-line inner tubes (Flybikes Cobras) to make a repair possible without removing the back wheel, so if anyone sees those anywhere, please let me know!

 

[DAVE WILLIAMS]

Fitz we love to hear about our policy being used for road side rescue. Velosurance bicycle insurance road side assistance is the best deal out there. BTW a 26" tube will stretch over any size rim up to 29". Dave

 

[Admin]

Fitz we love to hear about our policy being used for road side rescue. Velosurance bicycle insurance road side assistance is the best deal out there. BTW a 26" tube will stretch over any size rim up to 29". Dave

Interesting point Dave, I could see a fully connected 26" tire stretching and working for a 29" repair. Hadn't really thought of that before?



That said, the Fly Cobras tubes are just a long curved tube that is not connected to form a full circle. You lace the valve through a hole at the end of the tube to create a circle but I'm wondering if that would be hard to do with a 29" wheel? Might be worth trying Fitz?

 

[Brambor]

I got my Markel policy today. I am planning to start riding by Friday.

 

[FitzChivalry]

I could only like @Brambor's post once, so I'm also posting to say how AWESOME that news is!! I've been LOVING my ride to work this past week. Morning temps around 45 so I wear my balaclava, and then temps in the low 70s on the way home. It doesn't get any better than that!

 

[Admin]

I recently signed up for Velosurance and just wanted to share some of the fine print for anyone else considering the program. I'm pretty happy with it so far and got a comprehensive policy that will insure me if there is an accident where I hurt someone else's property or person.

Consumer Notice of Insurance Scoring: To offer an accurate quote in connection with this application for insurance, we will use a credit-based insurance score developed by a third party based on information contained in the unit owner's credit report. Future reports may be used to update or renew insurance.

Auxiliary Power Warning: Pedal Cycles with an auxiliary electric power assist source are only eligible for coverage under this program when the rated wattage of the electric power assist motor does not exceed 750 watts or the bicycle manufacturer's published design speed does not exceed 20 mile per hour while under power assist only. Cycles with an auxiliary power source other than electric assist are not eligible for coverage under this program. By continuing, you confirm that your bicycle(s) conform to these requirements

Fraud Warning: It is a crime to knowingly provide false, incomplete or misleading information to an insurance company for the purpose of defrauding the company. Penalties include imprisonment, fines, and denial of insurance benefits. Your state may have specific warnings against filing false claim information.

By proceeding with the quote, I confirm compliance with disclosure requirements. *

 

[DAVE WILLIAMS]

I recently signed up for Velosurance and just wanted to share some of the fine print for anyone else considering the program. I'm pretty happy with it so far and got a comprehensive policy that will insure me if there is an accident where I hurt someone else's property or person.

Insurance inquiries are shown only on your personal credit report. They are not provided to lenders, so they are not considered in credit score calculations or lending decisions and they have zero effect on your credit score. Read more....

 

[opimax]

I see it only covers bikes that provide 20 mph, what about my Stromer ST1 platinum that is official y 28 mph or others that are in this class?

mark

 

[DAVE WILLIAMS]

Velosurance policies insure e-bikes with up to 750 watts of power and e-bikes that do not exceed 20mph under power alone. Staying within these parameters the e-bike meets the Federal definition of a bicycle. The Velosurance policy was initially written to insure only pedal power bicycles. We soon recognized the need for e-bike insurance and to stick with the original intention to insure bicycles only the policy was amended to allow for electric pedal assisted bicycles that comply with the Federal definition. Unfortunately if your e-bike exceeds either of those two limits Velosurance is unable to assist. Dave - #1 wrench @ Velosurance

 

[opimax]

this bike has 2 settings when moving on its own, 3 mph in a walk along mode and 12 mph setting,anything else involves me pushing on the pedals . This would meet the requirements they way I read you reply, is this correct?

it is rated at 500 watts

Mark

 

[JoePah]

Liability is the most important aspect of protecting yourself from serious losses... As far as getting ripped off, I think I'll continue to rely on my Krypotonite lock, a cable lock and trying to be careful... OTOH I would never leave my ebike in a public bikestand for an extended period of time... So maybe having insurance would give me that peace of mind to do so.

 

[DAVE WILLIAMS]

Mark: You read it right. Your bike meets the underwriting requirements for a Velosurance policy. Max speed under power alone, no pedaling = 20mph. There is no upper limit speed for pedal assist. Most of the bikes we insure are often ridden in the 20 to 30 mph range and those are pedal power bikes only. Dave

 

[JoePah]

I have had my policy for a little less than two months, and after 480 miles of flat-free riding, I hit a black plastic something on the road before the sun had fully risen. My cycle light is awesome, but it wasn't awesome enough to give me time to get stopped or around whatever the item was.

So at 7:22 I called for roadside assistance. I needed to provide information that I had to look up on my smartphone (such as my friend's address, where I was to be dropped off at), which took me making a return call and a total of about 30 minutes. Another 30 minutes and the flatbed tow-truck had arrived. 20 minutes after that, and I was to my destination. The only problem I had was the needing to look up information and the fact that the first person at the call center was a non-native speaker of English; with me being on a noisy road, she had problems understanding me, and I understanding her. When I called back, I got a native speaker, and the phone call went much more smoothly.

I emailed @DAVE WILLIAMS to let him know that I'd be posting about my experience, and so he looked up my record and found that the tow I got would have cost me $142 if I hadn't had the insurance policy. That's a bit less than 1/3 of the total insurance premium for the year. The roadside assistance part of the policy costs $10/year, and provides a total of up to 5 roadside services. What a deal!!

I'm very glad that I got the policy. However, I'm hoping to be able to do my own flat-tire repair in the future. I went to my LBS to get the tire fixed this morning, and watched the guy unhook everything, replace the inner tube, and re-hook everything up. I feel more prepared for a roadside tire repair.

I'm still on the lookout for 28" x 1.95" straight-line inner tubes (Flybikes Cobras) to make a repair possible without removing the back wheel, so if anyone sees those anywhere, please let me know!

Stuff happens that can stop any tire..

What tire pressure do you keep your tires, and what kind of tires are they?

 

[DAVE WILLIAMS]

Liability is the most important aspect of protecting yourself from serious losses....

True words........Liability is a huge issue for e-bike owners. Most home insurance will decline claims for e-bikes because they have a "motor". The auto insurance companies won't insure an e-bike because it doesn't have a VIN# and/or are not state regulated. Velosurance offers liability only policies with limits from $25,000 to $100,000, and the best feature of our liability policy is the insurance company pays the attorney to defend you.

 

[flymeaway]

Mark: You read it right. Your bike meets the underwriting requirements for a Velosurance policy. Max speed under power alone, no pedaling = 20mph. There is now upper limit speed for pedal assist. Most of the bikes we insure are often ridden in the 20 to 30 mph range and those are pedal power bikes only. Dave

Hi Mark,

Thanks for providing insight on the nuance of what constitutes "legal". Under your definition of ; "Max speed under power alone, no pedaling = 20mph", by default, does an ebike without a throttle meet the definition? I'm asking the question because I'm not aware of any ebike (outside of walking assist mode) that will engage the motor without pedaling and the walking assist is usually limited to 3-4 MPH.

As an aside, what you have said coincides with the other observations I've read.

Thanks!

 

[Admin]

...by default, does an ebike without a throttle meet the definition?

I can't speak for Velosurance but my initial thought is DEFINITELY as long as the motor is <= 750 watts.

...As far as getting ripped off, I think I'll continue to rely on my Krypotonite lock, a cable lock and trying to be careful.

Insurance is great but a $100 to $500 deductible is still not fun to pay if your bike gets stolen. Having a nice lock is a good idea regardless

 

[FitzChivalry]

@JoePah , I keep my tires around 40psi, and check them probably 90% of the time when I leave the house. I have one of those car jump-starters with built-in air compressor right next to my bike.

 

[Matthew Kreger]

Insurance is great but a $100 to $500 deductible is still not fun to pay if your bike gets stolen. Having a nice lock is a good idea regardless

I would be willing to bet insurance against theft requires you to take at least minimal precautions. I would be very surprised if any insurance company covered theft of a bike that was just left sitting out unlocked and unattended in a public place.

 

[FitzChivalry]

@Matthew Kreger , you're right, at least as far as Velosurance is concerned. They require that you lock up your bike. They don't specify what precautions you have to take with accessories, and accessories ARE covered by the insurance. I work on a military base and so don't have the same level of crime concerns that others might, but still take my battery in with me (to charge), and also my headlight and taillight.