When you’re shopping for a bike, you may be wondering how much insurance is required. After all, bikes are expensive, and you don’t want to end up with a bill if something goes wrong. Here’s what you need to know. Bicycles are considered personal property in most states, which means that most policies only cover the bike when it’s stolen or damaged while in your possession. If you leave your bike unattended, or if it’s stolen while locked up outside of your residence or business, your policy may not cover it at all. And if you get into an accident while riding your bike? That brings us to our next point: If you injure yourself while riding your bike and the other driver doesn’t have insurance, you may be responsible for paying their medical bills and damages. In some cases, this can total tens of thousands of dollars. So be sure to carry appropriate insurance coverage when riding your street bike!
What is Insurance?
Insurance for a street bike can vary significantly depending on the type of bike, your location, and the coverage you need. A good rule of thumb is to calculate how much liability insurance is required by state law for the make, model, and year of your bike. This will give you a starting point for shopping around for a policy that meets your needs.
Some basic coverages you may want include property damage, bodily injury, and vehicle theft. Many policies also include collision and comprehensive coverage, which can help pay for medical expenses if you are injured in a crash, as well as damage to your bike caused by another driver.
In addition to liability insurance, many riders also carry personal accident insurance (PAI). This provides coverage for medical expenses and lost wages if you are injured while riding your bike. PAI should be at least as much as your liability policy.
What is Street Bike Insurance?
Street biking is a great way to get exercise and see the cityscape, but it can also be dangerous if you don’t have insurance. Here are some things to keep in mind when shopping for street bike insurance:
1. Make sure your policy covers you if you’re injured while biking, including if you’re riding without a helmet.
2. Review your policy’s coverage limits—you may need additional coverage if you’re frequently riding in risky locations or on high-risk bikes.
3. Consider adding uninsured motorist coverage to your policy to cover accidents with drivers who aren’t wearing their seat belts or driving under the influence.
4. Street bike insurance isn’t just for riders—if you own or lease a bike that’s used for biking, make sure your property insurance covers it too.
Types of Coverage
Many people are unsure of how much insurance is necessary for a street bike. A good rule of thumb is to purchase enough coverage to cover the bike, your personal possessions and any liability that you may incur. For many cyclists, this could mean purchasing an amount of coverage as high as $10,000. However, it is important to consult with an insurance agent who can provide a more specific estimate based on your riding history and the value of your bike.
How Much Does Street Bike Insurance Cost?
Street biking is a popular mode of transportation, and there are many people who ride bikes on the streets. The risks and rewards of riding a bike on the streets are substantial, so it’s important to be familiar with your rights and responsibilities when biking on the street.
When biking on the street, you are subject to all of the same laws as cars. You must obey all traffic signs, signals, and regulations. You can be ticketed for not wearing a helmet, for cycling in the wrong direction on a one-way street, or for any other violation of traffic law.
In addition to obeying traffic laws, you need to be aware of your own safety when biking on the streets. When riding your bike on the street, you can expect drivers to be more aggressive than when driving their cars. Be prepared for drivers to go too fast or make sudden turns in front of you.
Finally, remember that bikes aren’t always treated equally by pedestrian and vehicular drivers. When crossing intersections or entering parking lots, always look out for cars coming from both directions before crossing an intersection or entering a lot. Always wear a helmet when biking even if you don’t think you might need one – even if you only ride around town!
Conclusion
If you’re in the market for a new bike and aren’t sure how much insurance to carry, Street Bike Insurance can help. We offer customizable Bike Insurance policies that include coverage for theft, damage, and other accidents.