As the sport of cycling has increased in popularity, the manufacturers have continued to develop newer space-age materials that offer strength and are very light weight. As these technological improvements are made, the price of many bikes is escalating tremendously. It’s not unusual to have a $10,000.00 bike frame, and $2,500.00 in wheels and other accessories. But what happens if your bicycle gets damaged or the frame is ruined?
Three Ways Your Bike Could Be Damaged
First – your bike is hit by a car and badly damaged or destroyed – coverage would be under the property damage insurance of the vehicle that ran into you.
Second – if your bike is stolen – if you own a home and have homeowner’s insurance, it could be coverage as your personal property under your homeowner’s policy. A homeowner’s policy is a “named perils” policy, which means it covers for losses for specific named perils, such as fire or theft.
Finally – if you hit a curb or pothole, or damage the frame if you fall off your bike- typically, this would not be a named peril under most homeowner’s policies. You could request your homeowner’s insurance company to list your bike under a specific “personal articles coverage.” This can be done at a low premium. Of course, it would be subject to the deductible on your policy. The rub becomes that most policies in Florida are underwritten by Citizens Property & Casualty Company. They don’t offer this “personal articles coverage” on any of their policies. But, may be you are with an insurance carrier that does offer this coverage.
The bottom line – call your homeowner’s insurance carrier and ask about coverage. There are also special lines carriers that may offer this coverage.
Get Answers to Your Cycling Accident Questions
Jim Dodson, a bicycle accident attorney and cyclist, is the author of the Florida Bicycle Accident Handbook, offered free to anyone involved in a cycling accident in Florida. Do you have questions that need immediate answers? Feel free to contact us online or call 888-207-0905, there is no charge to discuss what happened and to find out what your legal rights are.