Glad to hear you are ok. I was looking for some reviews on them too. I was in a crash on the weekend where a car pulled out of a car park in front of me and I had no where to go but in and over the car. Body is ok (heavy bruising and grazing - but no broken bones) - bike has multiple cracks, broken fork and wheels. I am insured via Velosure and placed a claim in on Monday (driver was uninsured) and hoping they look after me - but I couldn't find any experiences with them online. I have IM Melbourne in four weeks so a long taper as leg heals and I try and get a bike.... I will let you know how I go with them...

Glad youre ok and sorry about the bike. However, if youre going to get hit, it might as be a guy in a Maserati right?

All insurance is a net loss. Your expected payout is a lot less then what you will pay in.

If its something really cheap like a TV, you are for sure better off self insuring and not paying someone to play the risks.

If its something super expensive like a house, you likely cannot self insure, so very logical to get insurance.


Bikes are clearly somewhere in between. I wouldn't insure myself. If your bike is clearly worth more than you can afford to pay out, you may want to consider it. If 1 crash means no more bike ever. But really I'm sure you could just pick up a cheap bike somewhere if need be.

Bikes are often covered under your homeowner's policy. Check your policy to make sure.

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"Most of my heroes don't appear on no stamps"
Blog = http://extrememomentum.com|Photos = http://wheelgoodphotos.com

Sometimes if stolen but not crashed. YMMV

Iwouldn't be so much worried about the insurance for the bike -- the focus should be more on insurance coverage for any bodily injuries that might be sustained. Look into your car insurance policy and if there isn't coverage there for any bodily injuries you might sustain as a result of a bike wreck, I would certainly entertain the thought of getting insurance coverage that does.

To that end, I would urge everyone on the forum to take a closer look at their UIM coverage on their car insurance policies. You are buying the coverage for yourself and not for someone else. Typically the increase in cost from the minimum coverage to adequate coverage is not very high and definitely well worth the expense on the unlikely chance you are the victim of serious injury at the hands of somebody else.

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Health insurance already covers that. My auto policy has a very low medical cap on me

Imagine you are severely injured and will never work again. Health insurance will not cover that. Health insurance will not cover you for many expenses that can arise in the context of a serious injury.

I don't 100% understand what you mean when you say "my auto policy has a very low medical cap on me", but I would strongly recommend increasing your UIM coverage if it isn't very high. I would also check the coverage to see if it covers you on your bicycle. Don't count on the person who may injure you on either (1) having money or (2) having adequate liability coverage.

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Are you an insurance salesman?

People don't need piles of insurance

Not an insurance salesman. I do deal with these issues every day, though.

Say you are buying car insurance -- you aren't getting that car insurance to protect you against claims others may make against you. You are buying it to protect yourself. And I am not talking about the value of the car -- it's the value of your body. The overwhelming majority of the cost for car insurance is to get the minimum coverage. To get more extensive coverage for UM or UIM -- which is uninsured or underinsured motorist coverage -- is a fraction of the cost. If you are in a car accident and are seriously injured and the other person has $25,000 in coverage you are going to have some serious monetary issues on top of your bodily injuries if your coverage is $25,000 or $50,000 or $100,000.

I agree with you to an extent that there can be too much insurance. Certainly don't need the extended warranty on your $500 television set. But when it comes to the value of your life? There can't be enough coverage.

It is a wise decision for all of to examine any existing car insurance or homeowner's or umbrella policies to see if would provide coverage if you are injured at the hands of another while riding your bicycle. If not, I think it makes good sense to explore options for that coverage.

For the OP's question specifically to "Velosurance" - when I go to their website I see that there is coverage for medical payments, but I don't see anything else. It's hard to really know without seeing the terms of the policy specifically if there is more extensive coverage. Medical payments are typically limited to $5,000 or $10,000 and depending on the laws of the state that you live that may be money that may need to be repaid or will only cover out of pocket expenses that health insurance doesn't cover. I mean, that's better than nothing if god forbid the worse happens you would want to have more protection if you can.

If there is just coverage for the bike and med pay up to $10,000 from Velosurance the amount I would pay for a policy would be pretty low. There's a value there, but I would agree with that it isn't high. If there is coverage for the full value of any potential injury under the policy? That would change the calculation and the amount I'd be willing to pay.

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team website: http://snappletriteam.com/

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Hi, Dave here. I am the CEO of Velosurance, and I am here to answer all your bike insurance questions.

We are fortunate to only have happy clients. All claims are handled through the Velosurance office, and we are good at it. We know exactly what the claims department expects, and we submit a 100% complete claims packet. Nothing is left to question except where to mail the check. We are yet to see a claim payment take more than 7 days from Velosurance submitting the claim up to our client holding the claim check in his/her hand. The Velosurance website has testimonials from happy claimants.....and so far all we have are happy claimants. I am a mountain biker, my business partner is a triathlete, and every one at Velosurance are riders, we understand you, and we work hard to make sure our clients are taken care off, especially when they place a claim.

Remember that one happy person will only tell one other person how happy they are, but an unhappy person will go out of the way to tell strangers how unhappy he/she is. You will not find anyone unhappy with Velosurance.

Ask me questions, and don't hold back.

Email dave@velosurance.com for a specimen policy.

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Velosurance - Because Accidents Happen. Get your 5 second quote here

Dave is the man. I am so happy with Velosurance. I cracked my frame in a crash about a month ago. I called Velosurance on Sunday after the wreck and was surprised when Dave answered the phone himself. He took the crash info and asked for photos of the damage. Next he sent me to a Velosurance partner shop (was my LBS) for the repair estimate (crash replacement frame) that included shipping & building the new bike. Dave insisted I should also claim my Oakleys, bibs, and helmet (my head hit the ground pretty good). Velosurance sent the claim in late Monday (they Cc'd me), and I was called by a claim representative Tuesday to discuss the wreck, and again on Wednesday to let me know my check was being mailed. The check made it from Wisconsin to Miami in 3 days. My new frame took longer to arrive than the check.

Some very good advice here. Last year I was switching auto insurance policies and my agent made a strong recommendation to increase my UIM coverage. About 2 months later I was involved in a hit and run but tracked down the driver, who had no insurance and thought it was a good idea to flee (it was not). I was pretty messed up and so was the passenger. UIM coverage took care of all the medical bills.

I filled out your 5 second quote info. Unfortunately it says you don't service Kansas. Any recommendations on for me? Thanks

We are newly licensed in Kansas, and IT did not know about it. Give the quote another try. It should be updated now. Thx for the heads up.

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Velosurance - Because Accidents Happen. Get your 5 second quote here

Thanks! I got my preliminary quote.

I notice you check credit before a hard quote is given. As soon as I close on my home I'll be signing up with you for bike insurance. I've got way too many "inquiries" on my credit report from home loan shopping.

If you need or want bike insurance and you have concerns about the insurance company checking your "insurance score" (it is not a credit inquiry) please call Velosurance and we can run the quote without your insurance score seeing the quote. Insurance score inquiries do not "ding" your credit score but even then we have a work around when you call us.

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Velosurance - Because Accidents Happen. Get your 5 second quote here

You guys up in NE yet?

We are not licensed in NE at this time. We suggest you contact Markelinsuresfun.com for a quote and policy.

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Velosurance - Because Accidents Happen. Get your 5 second quote here

I dont believe Velosurance is in Rhode Island yet. Im just curious, whats the difference between a policy with markel and velo? Thanks in advance for the info.

Now this is good information. I've been on the fence since bike insurance isn't cheap but I know I won't spend the coin to replace my bike otherwise. Interesting bit on the bibs, helmet, oakleys, etc. I would have never thought of that.

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Pete Githens
Reading, PA

Velosurance and Markel are strategic partners and Velosurance issues the same cyclist policy as Markel direct. We both use the same premium rating software so there is no price difference. The advantage to Velosurance is you are dealing with a company that is owned and staffed by riders who understand your questions and concerns. As insurance professionals we also know how to handle claims with amazing efficiency, most claims are paid within 7 days.

You can contact Velosurance 7 days from 9 to 9 EDT/EST.

Many people over-buy insurance when purchasing direct. Our mission at Velosurance is to completely analyze your insurance requirements and make absolutely sure that you do not buy duplicate or over lapping insurance.

For the few states that we are not licensed in (like RI) we refer to Markel direct but we also welcome Markel direct clients to call Velosurance anytime Markel might not be available (like the weekend) or when Markel might not be able to answer your questions.

My direct line is 954-773-9099, and I welcome your calls. Dave - CEO

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Velosurance - Because Accidents Happen. Get your 5 second quote here

Dave- thank you for the detailed and quick reply. I would have liked to deal with Velosurance directly, but Im sure Markel's side is great as well.

If you can wait 2 weeks our RI licence will be issued, and you can deal with Velosurance direct.

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Velosurance - Because Accidents Happen. Get your 5 second quote here