May is National Bike Month – Do You Have Insurance Protection?

May is National Bike Month, which is a great opportunity to get more exercise, save money on gas and live a little greener. But before you hit the road, it’s important to know safety rules and how your insurance would be affected in the event of a loss.

What if my bike is stolen or damaged?

Bicycles are covered under the personal property section of a standard homeowners or renters policy. This coverage will reimburse you (minus your deductible) if your bike is stolen or damaged in a disaster listed in your policy.

What if I injure someone while riding my bike?

Homeowners and renters insurance provide liability protection. So if you injure someone in a bicycle accident and they decide to sue, you will be covered up to your policy limits. You may want to consider purchasing an extra layer of liability protection through an umbrella policy.

Do I need to add my bike to my policy?

When you buy a bike, chances are you’re buying a lot of bells and whistles to go with it (helmet, pump, lights, clothing, etc.) These accessories add up and should be included in your insurance. Call your insurance agent to notify them of your purchase. If you own an expensive racing bike, you may want to get an endorsement to your homeowners policy.

Reduce your risk by following these bicycle safety tips:

  1. Obey traffic signs and signals
  2. Never ride against traffic
  3. Follow lane markings
  4. Don’t pass on the right
  5. Scan the road behind you
  6. Wear a helmet and never ride with headphones
  7. Use hand signals
  8. Make eye contact with drivers
  9. Use lights at night
  10. Keep your bike in good repair

For more information and safety tips, visit the NHTSA website.