Interesting. Ran through and got a quote and it isn't as bad as I thought considering the investment. Especially the fact that it covers race fees, apparel, etc. I'm interested to hear of others experiences as well.

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Pete Githens
Reading, PA

I got a Markel quote also but then I called to ask a question and the person I talked with was lost as soon as I mentioned power meter and Zipp 404's. I eventually got the answer that spare parts are covered but while I was waiting for the call back I talked to Velosurance who are all cyclists and they also represent the Markel cyclist policy. Good knowledge, obvious they ride, answered all my questions, worked on the premium with me, and wrote me a policy. I try to support cyclist owned companies. http://www.velosurance.com Speak with Dave or Denis

Can you share any of those specifics about the power meter, zipps, etc.? I mean, what did they have to say as far as coverage? Is everything by default covered or must you keep them updated with additions/changes etc.?

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Pete Githens
Reading, PA

Spare parts are covered up to $500. They explained that's anything that could be installed on the bike but not currently on the bike. The power meter, GPS, HR monitor etc is considered an accessory and covered within the bike insured value. The Zipps the same, covered up to the bike value that is insured. If anything is stolen they can ask for a purchase receipt. It's easy to read. I am sure you can get a copy of the policy. They are real nice to deal with. Dave's email address is dave@velosurance.com or you can call. The ph# is all over their website.

Thanks!

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Pete Githens
Reading, PA

Check out spokeinsurance.com

I did a while back and they only have policies in a few states not good for me.

Their limits on "Vehicle Contact Protection" were silly low at $50K. I was looking for something in the $500K-$1M range.

Insurance is for protecting yourself from what you can not afford.

I can afford a couple of grand for a taco-ed wheel, but I can't afford being paralyzed due to some dumb-a** motorist.

Right now I have a policy where I can sue my umbrella if hit by an un-/under-insured motorist. That seems to be the only way to protect your family from crazy medical expenses.

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Swim - Bike - Run the rest is just clothing changes.

Know what you mean. I didn't get the vehicle contact because my $500,000 uninsured motorist coverage on my State Farm auto policy covers me for accidents with cars. I think most states UIM covers you riding when hit by a car/truck. I went for the policy to cover my Zipps, mostly.

This is a man with reasonable insurance sense.

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I have large amounts of insurance for my body - unlimited with $10K/year deductable. Not so much for my bicycle - ACV on my homeowner's policy with $1K deductable.

I alos have have large amounts of insurance for those who I might injure.

If you are a USA Triathlon, USA Cycling or IMBA member, you will receive a 10% member discount on the bike insurance premiums by purchasing your policy through one of the links below:

USA Cycling: http://www.MarkelBikeInsurance.com/USAC
USA Triathlon: http://www.MarkelBikeInsurance.com/USAT
IMBA: http://www.MarkelBikeInsurance.com/IMBA

I'm originally from the UK but have lived in the US for almost 10 years now - bike insurance is pretty huge at home, but I struggled to find anything here; even my household insurance seemed a bit clueless about how to apply coverage to a bike worth over $1k.


I work in insurance, so had a look around and ended up getting policies on my road and cross bikes through Velosurance. Just signed them up today, actually. Spent a bunch of time looking at it, asked them to send me a sample policy before I signed up, then spent some time on the phone with them.

I think if you're looking to manage any losses directly from loss or damage to your bikes, this seems to be a good policy.

we've been nosing around this bike insurance topic for several weeks now, and have just published on it, for those of you who are interested in considering this.

some of these coverages can be gotten elsewhere. for example, there's a thing called the better world club, that's kind of a bike friendly, eco friendly, version of the auto club, and last i heard they had roadside assistance for your bike. but, you have to buy a membership to it, just like the auto club.

this insurance is a nice package of coverages that actually is appealing to me, for the reasons that i outlined in the article: i'm not going to use my homeowners policy; i have a high deductible medical policy; and so forth. whether it's of value to you all depends on what's important to you and on your own circumstances. one person wrote about the nature of insurance, and that it's protection against a catastrophic loss. he's right. that's what it is, by nature. that's its value. however, in a way because that's how i treat my more impactful insurance, that leaves open the window for something like this kind of underlying insurance. at least theoretically.

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Dan Empfield
aka Slowman

I have been looking for that kind of insurance for my bikes for a while now and no luck in Canada =(

I sent an email to velosurance, lets hope that they do offer their service over here too!

Sounds like some folks have experience with buying a policy- but has anyone on the forums actually made a claim & gotten a payout? Curious about your experiences when the rubber hits the road (or leaves it as the case may be).

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Chris
http://www.crowdrise.com/bosken

Hi:


Dave from Velosurance here to give you an example of a recent claim....$14,000 Trek Project One on car roof rack vs low overpass in France. In our client's words.....

Dear Dave: I just wanted to take a minute to say how pleased I am with Velosurance. I'm relatively new to cycling, but was fortunate be able to buy a new Trek Madone for a cycling adventure in Europe. Having never flown with a bike before - and wanting peace of mind while on my trip - I bought Velosurance just a day or two before departing. The purchase process was easy. Well, the flight over went well, as did the event in France I flew over for, but then when traveling to Ventoux for an extra bit of fun I did the 'unthinkable' and drove the bike into an overpass. You helped me though the claims process, which was painless, and within days I had a check for the full amount of the loss. As bad as I felt about wrecking my bike, I would have felt a whole lot worse had I not had Velosurance. Frankly, it saved the balance of my trip as had I not had the insurance I would have spent that time beating myself up over the event. Thanks again for your help. Best regards, CB

Velosurance claim experts submitted a complete loss package to the insurance company on Tuesday and the claim check arrived at client's address the following Monday. When a loss happens Velosurance takes control of the situation and follows the claim process to it's satisfactory conclusion.

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