Athletes know that bike investments can be really high. As investments grow, insurance has to be seriously considered. There are situations in which bike costs warrant a very easy replacement but there are situations in which cycling insurance is very important. This is particularly the case when dealing with professional cyclers that attend professional events.
Most people understand what car insurance is. Some even know what an extended warranty is from providers like GogetOlive. However, what few know is there is such a thing as professional cycling insurance. Since you are here, you surely want to know more about the topic. These are some things that are more important than others. This is exactly what we will focus on in the following paragraphs.
Isn’t Home Insurance Enough?
Many think that a home insurance plan is enough when talking about insuring the bike. This is not actually correct. In reality, most home insurance policies do not actually cover bikes, especially if the bicycle is not inside the home when something bad happens. It is also possible that some bikes are only covered up to a specific financial maximum, which is a lot less than the value of a professional item.
Remember that some of the cyclists that pedal in world tours have bikes that cost over $50,000. Most cycling insurance policies have a pretty low limit, usually a few hundreds. Obviously, if you are an athlete, you need to opt for the insurance policies that are designed for the most expensive bikes.
Sportive events are different and you need to understand the fact that many insurers out there simply do all that they can in order to avoid paying in the event that something bad happens. This is exactly what often happens when referring to sportive events.
Unfortunately, in many cases, we see problems with bikes at sports events and the insurance company finds an excuse not to make payments. This is especially the case in the event that we talk about events that are happening in other countries. In such a situation, many insurers expect you to pay an overseas extension, but they do not tell you much about it.
When you are a professional athlete, you absolutely have to be aware of what you are covered for and what you are not covered for. This is particularly important with sportive events. You do not want to damage your bike and then learn that the insurance provider does not cover repairs or replacements.
Choose The Best Provider
The last very important thing that you absolutely need to be aware of is that there are huge differences between the deals offered by insurance providers. With cycling insurance, there is a limited number of providers to choose from. This is an advantage and a disadvantage at the same time. We often see people choosing the very first deal that they find. Do not make this mistake. You might not be covered or the coverage that you get might not be enough to cover everything.
The very best provider in your case is the one that offers the best deal for you, based on how you will be using your bike. Because of this, you have to compare the very best providers that service your country and that offer cycling insurance. Then, see exactly what is offered, how much you need to pay, and if there are some extra perks that are included. Only after you compare all these things you can make the best possible choice. Do not take this decision lightly. You need to be patient and compare all the options that are available.