Things to Consider Before Buying a Bicycle Insurance

Skyrocketing fuel prices and increasing risk of lifestyle-related diseases are evoking the necessity of pedaling. But while cycling through traffic-filled Indian roads, the chances are high that your bicycle may get damaged. Besides, bicycle robbery is prevalent in our country. Further, many innovations have been embraced by the cycle industry. As a result, modern-day bicycles come with many new features that take their price to the higher end. Hence, bicycle insurance is a must. Additionally, bicycle insurance covers accidental death that occurred while cycling.

Point to consider while buying a cycle cover

Check whether the type of your bicycle is included in the list of the insurer. Certain insurers extent coverage to particular categories only.
Age of your bicycle matters. Most insurance companies do not give coverage to bicycles more than one-year-old. Hence it's better to take bicycle insurance immediately after its purchase.
Many insurance companies provide coverage only for damage and robbery of your bicycle. In contrast, insurers like Bajaj Finserv offer accidental death coverage while cycling in the Cycle Cover. Therefore, read the inclusion list before buying bicycle insurance.
While purchasing bicycle insurance, check whether the coverage is limited for a particular geographical area or not. Several insurers ensure worldwide coverage of your bicycle. It shows you can take your favorite bicycle while going for an overseas trip.
The most crucial factor to check before going for coverage is the premium. How much do you need to pay in a year to get the cover and the highest coverage limit? Usually, it depends upon the price of the bicycle.
Don't forget to put a glance at the exclusion list before applying for bicycle insurance. It helps you to get a good understanding of where you can use the insurance.

General exclusions

Damage to parts of the bicycle due to wear and tear.
Damage to the tires of the bicycle, unless it's robbed.
Loss or damage occurred while you were under the impact of alcohol or drugs.
Loss due to your negligence, such as leaving the bicycle unlocked.
Loss or damage that occurred as a result of a deliberate act.

Conclusion

The tenure of bicycle insurance is usually for a year, and only the bicycle owner can avail of these benefits. Though applying for bicycle insurance is easy and premium is affordable, don't underestimate the terms and conditions. Take time and read the brochure carefully before clicking the submit button.

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