5 tips for the perfect bike insurance

In your free time, you ride along some of Quebec’s most beautiful bike paths. Bicycle insurance may be relevant for you. You cycle to work, rain or shine. Here again, bicycle insurance deserves your attention. The truth is, whatever your cycling profile, it can give you peace of mind. Take a look at our 5 tips to find the best protection for your needs.

1. Determine your cycling profile

What kind of cyclist are you? The one who speeds through town to catch his first meeting? The one who seems to have just stepped out of the Tour de France? Or the one who swears by mountain biking?

By drawing a clear picture of your profile, you raise key points for your insurance expert. We’re talking here about where you store your bike, the value of your two-wheeled machine and much more. It’s a step in itself, and the very first one you need to take before starting your journey towards the best bicycle insurance.

2. Evaluate your home insurance coverage

Strictly speaking, bicycle-specific insurance is not – yet! – offered in Quebec. Cyclists are therefore covered by other types of insurance, such as home insurance. More specifically, home insurance protects you in two distinct ways:

Your civil liability as a cyclist

Third-party liability in your home insurance contract is a key protection for you, dear cyclists. It covers you in the event of damage to others caused by your activity.

Let’s illustrate with a few examples. You’re riding late at night and hit the rear-view mirror of a parked car: you’re covered. A rider runs into your path and you don’t have time to avoid a collision: you’d still be covered against a lawsuit.

Material damage to your bike

The theft or destruction of your bicycle may be covered by your home insurance. But be careful! Some electric bikes are subject to exclusions in this regard. We’ll come back to this later.

When you put it all in perspective, it’s not uncommon to find that you already have bike insurance! However, some additional protection may be in order.

3. Watch out for exclusions

All insurance contracts have their own exclusions. It’s important to read them carefully. They may raise conditions to which your bike could be subject.

For example, it’s highly likely that an accident involving you and your bike will be excluded. In other words, if you take an overly ambitious hill and lose control, the damage sustained is not covered.

What about electric bikes?

In the case of electric bikes, it’s the bike’s strength or speed that could exclude it from insurance coverage altogether.

4. Find out about limitations

Most insurance contracts include a limit payable per bicycle. However, it is possible to take out supplementary insurance on your homeowner’s policy, usually for a small fee, which not only provides full coverage for your bike, but also sometimes abolishes – or greatly reduces – the deductible on the basic policy.

5. Keep proof of repair

All documents showing any modifications to your bike are important. Keep them safe. You may be asked for them as proof that your bike is covered.

Where can I find the best bicycle insurance?

You’ve read all these tips and are ready to find the ideal bike insurance? At Fort, our team will help you determine your needs and find the product that’s right for you, at the best price. Contact us today!