When it comes to your bicycle, many insurance policies are beneficial. If we have an accident, our auto insurance covers our personal injury up to $10,000. Your medical insurance will cover the remainder of what your auto insurance does not pay. So now let’s look at your homeowner’s or renter’s insurance.
Your homeowner’s or renter’s insurance may only cover certain types of bicycles. If you have invested a lot of money into an expensive bike, and high-dollar accessories, you should have invested in bike insurance as well. Depending on what your policy includes, they may only cover your bicycle if it has been stolen.
If you included your bicycle on your homeowner’s policy, it might cover some accidents. For example, if you run into a standing or stationary item, you may have coverage that will pay for repairs or even replace your bike. A stationary object may include a parked car, a building, fences, or anything that is standing still. This type of collision could mangle your bike and cause serious injury.
What if your bike hits someone else’s bike?
Maybe you decided to join a cycling group for a local ride. Roadways often have a separate lane for cyclists, and some accidents can happen between two or more bikers sharing the same lane. These accidents can also cause damage. Florida is a no-fault state, soyou will need to look at your auto insurance for medical coverage. Then, you will look atyour homeowner’s policy to pay for the repairs. Sometimes the person who hit you has a homeowner’s or renter’s policy that will cover the cost of fixing or replacing your bike.
PIP Coverage in Florida
Florida mandates that all people with automobiles have PIP coverage. That is a flexible plan that often pays for medical expenses. Like uninsured motorist’s insurance, if they don’t have auto insurance, your auto insurance PIP coverage is used to pay for the costs.
If you do not have uninsured or under insured insurance, but you have collision insurance, it will pay about the same. The difference is your deductible will need to be paid in full.
Should I Get Insurance?
Purchase a standard bike and gear if you are going to be a casual rider that goes on local rides. However, if you are going to be a serious bicyclist, going on long road trips, investing in a high-quality bike, or using your bike for transportation or competition, you need to invest in a bicycle insurance policy.
Take some time to read the rules and understand the laws you are expected to follow. On the road, you are considered a vehicle. A bicycle is fun to ride. It is a great way to exercise. It is eco-friendly for the environment. But it does not come without risk. Know the rules of the road before you merge into traffic. There are laws to protect you. But, everyone does not follow the law.
If you are involved in a bicycle accident, get medical attention immediately and contact an experienced attorney to help you.