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6 months ago

March 7, 2024

Xavier Catherine

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Bicycle transportation, whether in large or small cities, has been increasing for a number of reasons. There is a movement towards sustainable transport to reduce pollution levels. Also, due to the price of fuel, which is constantly readjusting. Therefore, it is necessary to strongly consider taking out bicycle insurance. Find out how it works.

Although the bike is a cheap means of transport, maintenance costs cannot be ruled out. Furthermore, there are risks for the person cycling, both in the case of accidents and falls. So, who bears these expenses?

Bicycle insurance, then, appears to be an indispensable product for both those who use “skinny bikes” as a means of transport and for leisure. Below, see how it works and some of the plans recommended.

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Insurers

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Why take out bicycle insurance?

Just to give an example, even if there are bike racks and security devices, such as padlocks, the bike is highly susceptible to theft. And, by the way, this is a qualified theft, as it leaves traces, such as broken padlocks.

Therefore, if you have bicycle insurance contracted, simply document it and contact the company to finally receive compensation. Furthermore, as we will see later, bike insurance offers other coverage, including maintenance.

How does bicycle insurance work?

Initially, bicycle insurance has the same mechanism as that taken out for cars or properties. Depending on the plan, the insured person has protection against accidents, theft, theft and maintenance.

However, as a bicycle has different uses than a car or motorcycle, the coverage or services are also different. Likewise, accidents are private, as the person who cycles is more prone to falls and loss. Therefore, there are plans, for example:

for loss during road or air travel;
damage during transport or drops;
international extension for competitors.

Typically, insurers accept new and used bikes, as long as they are up to eight years old. Furthermore, different coverage is provided for electric, urban, road, mountain and customized bicycles.

The most common coverages for bike insurance are usually:

reimbursement for equipment and parts;
civil responsability;
maintenance;
thefts and robberies;
accidents;
trailer.

The items vary depending on the plan contracted, as they range from the most basic to those with the largest investment. The choice, of course, will depend on both your budget and the bicycle's usage profile. The same goes for the amount paid monthly for bike insurance.

To activate bicycle insurance, you must send all supporting documentation, as is done with other insurance policies. Depending on the accident, it is also necessary to register a police report.

After sending the documentation, if there is nothing missing or anything pending, the compensation is generally paid within 30 days.

Recommended bicycle insurance

There are different companies and insurers that offer bicycle insurance in their portfolio. Among them, the most traditional in the sector (although there are, to date, no quotes, for example, for Bradesco Seguro Bicicletas).

Porto Seguro Bike

Porto Seguro Bike has three service plans (Essential Pedal, Light and Elite), in addition to accepting bicycles for urban use, performance and mountain biking. Services vary depending on availability and region of coverage, but in principle, they include:

theft;
damage;
damage to third parties;
personal accidents;
loss during travel.

Insurance can be taken out for new and used bicycles, depending on the insurer's conditions.

Simulate the price of your car insurance on our form.

Mapfre Bicycle Insurance

Mapfre's Bike Assistance covers different services, for example, inspection, accessories, parts installation, mounting and tire change. The product is offered in all Brazilian capitals, in addition to other municipalities.

Argo Bike Insurance

Argo Seguro Bike, or Argo Protector, covers the insured person, for example, against robbery and theft. Also, reimbursement of costs for replacement and repair. Normally, it accepts bicycles worth between R$1,500.00 and R$75 thousand.

Is it worth taking out bicycle insurance?

Given the increase in the use of bicycles as a means of transport, in addition to sporting and competition habits, bicycle insurance is indeed an important product to purchase. The insured person has assistance in different types of incidents, from maintenance to theft, theft and loss.

Another important application concerns protection in the event of accidents, as cyclists are among the biggest victims of traffic incidents. Therefore, it is worth looking for bike insurance options, in order to receive personalized coverage, depending on your usage profile.

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