The Benefits of Bike Insurance

In recent years, bike theft has been rising at a constant pace. Conservative estimates say that thieves are running off with hundreds of millions worth of bikes every year. The majority of these bikes are taken from outside peoples' homes. Depending on where the theft actually takes place, you may be able to recoup the cost of replacing your bike, because most homeowner's insurance policies will cover your bike if it is taken from your home. Some policies even cover you in the event that something happens to you while you are cycling away from home.

If your homeowner's insurance policy covers the personal possessions in your home, then it may cover the theft of a bike as well. However, not all insurers will offer to include bikes, it is therefore very important that you take the time to comparison shop before you make a final decision on your policy. Many personal possession policies will have different stipulations. For example, some will choose to insure pushbikes, but not motorbikes. If that is the case, the cyclists will have to take out additional coverage with an insurer to cover that particular item.

Over half of the total bike thefts in the United States take place directly outside the home, and the majority of them are lifted from garages and garden sheds. In addition to that is the startling fact that over 14% of bike thefts occur inside the home. Even with all of these surprising statistics, a surprisingly high number of cyclists still choose to leave their bicycles unsecured, making them a target for thieves.

Here are some easy tips that you can follow that may make it harder for a thief to target your bike.

One of the easiest things to do is to utilize the special bicycle parking racks whenever possible. It is also recommended that you always take the time to lock your bike up properly, regardless of the length of time that your are expected to be away from it. Always try to leave your bike in areas that are well lit and populated. If you are planning on locking your bike in a shed or garage, always make sure that you remember to lock the door.

Try to use a hardened steel U-type lock on your bike whenever possible, because cable locks are easier to cut through. Most insurance companies will not take your claim seriously if they know that you do not have the appropriate lock to secure your bike. As an added measure of protection remember to register your bike at a bike ownership agency, in addition to using an ultraviolet pen to mark your postcode on the frame.

Last but not least, keep a record of the name, model and bike serial number just in case something happens to your bike and you need to pass the information on to the Authorities. It is also a good idea to take photographic notes of your bike, because this will help you be better able to provide documentation if you ever need to support your claim.