You hit a parked car breaking your prized carbon and damaging the vehicle; you cross wheels and take down half the bunch in one split second; you return to your locked bike only to find it damaged and the wheel missing; you stand at the baggage terminal for hours wondering, “Where is my bag?”
Whether for damage or loss, bicycle insurance might be useful, indeed essential for any cyclist.
Let’s face it, a bike can be expensive. Add your second or third bike, plus everything else in the cycling war chest, and you could stand to part with plenty of cash
Bike insurance provides cover specifically for cyclists where other general insurance such as home insurance may not. It is designed for the cyclist to protect property in the event of loss and damage in situations such as accident and crash damage, loss through theft or bike jacking. Our policy also offers racing specific cover.
Potential bike insurance risks include:
- Property (not just your bike) damaged in an accident
- Damage to someone else’s property caused by you whilst on your bike
- Driving into the garage with your bike still on the roof rack!
- Theft (at home or elsewhere)
- Damage while racing or travelling
This simple, purely illustrative example underscores the importance of having bike insurance.
Bicycle replacement value – R 50 000.00
Total premium paid over a three year period – R 11 520.00
Total premium paid over a five year period – R 19 176.00
As the example shows, the total premiums paid can be significantly less than the cost for paying for replacing your bicycle. As always, when purchasing insurance it is important to take the appropriate cover most suitable to your needs.
At Cyclesure, as the pioneers of catering for such risk, we are the leaders in bike insurance, having launched our offering specifically for cyclists in 2000. Since then we’ve become the distinct leaders in bike insurance, and today remain the only company in South Africa specialising in bicycle insurance.
We have a proven track record and commitment, having settled dozens of claims for both recreational and professional cyclists, and supported various cycling events, teams, bike safety initiatives through our sponsorships.
We are backed by South Africa’s biggest independent insurer, Hollard, which underwrites our policies. Established in 1980, Hollard provides a wide range of solutions in the personal and business insurance sectors, as well as in the savings and investment environment. Through its International operations, Hollard has business partnerships in several African countries, as well as China, India and Australia.