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5 Types of Insurance You Probably Shouldn’t Go Without

Posted by Morgan Williams | Posted in Blog | Posted on 10-06-2015

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cycling_companionsCycling is a fun and healthy activity. As a sport, it is an exciting and satisfying event for cyclers and audience. This high speed activity gives thrill to everyone attending and participating in the event. However, high speed sports like cycling poses a lot of risk which includes property damage and injuries. If you are involve in cycling accidents which lead to property damage and injuries can hamper you financially. And in order to minimize or neutralize potential financial loss due to cycling accidents, insurance coverage is a must. There are many types of insurance. However, here are 5 types of insurance you probably shouldn’t go without.

  1. Theft – Bicycles are expensive especially those used in pro cycling. Losing a bicycle can be devastating especially for those cyclers which do not have sponsors to provide new units. Insurance coverage for thefts are necessary because the insurance company will provide new bicycle unit in case the current one is lost or stolen.
  2. Cycling Injury – Cycling accidents are common in pro cycling races as well as regular cycling whether off road or highways. Cycling accidents will include physical injuries and damage to your bicycle. It is important to get a cycling accident insurance coverage since injuries caused by cycling accidents can be potentially life threatening and long-term and the bicycles are often completely destroyed. Both of these require huge amounts of fund which can drain your savings and even leave you with debts. Insurance coverage can remove such risk from you.
  3. Third Party Liability – Cycling accidents can involve bystanders or other cyclers and motorists. So aside from your injuries, you also caused injuries to other people. Such circumstances will leave you responsible to other parties involved in the accident. Third party liability insurance allows you to cover all hospital costs and other necessities with ease. Depending on the insurance coverage, your insurance company can cover partial or the entire cost.
  4. Accidental Damage – During cycling accidents, your bicycle and other properties are damaged. Having an accidental damage coverage can have your insurance company pay for any damages caused by cycling accidents. This includes damage to your bicycle and other property damages. Not every insurance company will cover all damages acquired during cycling accidents. It is important to know the details and different scenarios that your insurance company will cover.
  5. Cycling Abroad – For cycling enthusiasts and pro cyclers, cycling abroad is common. Such activities are still prone to cycling accidents which include injuries and property damages. It is important to have insurance coverage even abroad in order to lower financial loss.

For you to have fun and experience the thrill of cycling without any worries, make sure to get these 5 types of insurance policies before cycling.

 

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