Bike Insurance! It may be an expense that you wouldn’t normally consider, but someday you just might regret not having it. Just to clarify, I am not receiving any sponsorship from Velosurance Insurance Company or any other insurance company. However, I would consider a sponsorship if given the opportunity. Hint hint. Picture this: you invest your hard-earned money in a high-quality bike. One day, as you are riding along, a stray dog suddenly crosses your path without warning. You don’t have time to stop, let alone react, and you make contact with the dog. The impact causes your forks to twist. Now, who will fix your bike? I can guarantee you that it won’t be the stray dog.
For years, I didn’t think bike insurance was worth it, to be honest. I can’t even tell you why I started looking for bike insurance. It could have been because this was my first major e-bike purchase. I just don’t know, but I’m glad I got it. About a month after I purchased my e-bike, a dog ran out in front of me. There was no time to stop or use my pepper spray; the impact caused my forks to twist. I made my way back to the side of the road, where I thoroughly checked the bike and didn’t notice anything wrong. I should have taken the bike to the shop at that time.
A day later, the front end locked up on me. I couldn’t steer and ended up driving off the road. This happened on a Friday night. While inspecting the bike, I could feel the damage, so I rode it home cautiously and parked it. Once I was home, I could check myself over and start the painful cleanup.
On Saturday, I sent an email to David Williams, the owner of Velosurance Insurance Company, asking for permission to write a blog about my experiences with the company. He gave me the okay to do this.
On Monday morning, I called Velosurance Insurance Company to initiate a claim. The lady I talked to was very professional and kept the call on track. (I am very sorry I forgot your name.) She took some information from me and informed me that Markel Insurance would typically contact me within 2 or 3 days. Later on that Monday, Markel Service Incorporated called me to collect all the information they needed. The lady at Markel Service was also very professional and kept the call on track. I am very sorry I forgot your name as well. She informed me that a claims professional would be contacting me.
I spoke with claims professional Mark Wenig, who sent me an email with three attachments in various formats. Filling out the form was a straightforward process, taking about 5 to 10 minutes to complete. I received an automated email from Markel Service, Incorporated. The email stated that my claim would be handled by Mark Wenig. The email included his direct office number and email address. I appreciate the clear communication and guidance provided by Mark Wenig, which has helped me navigate the claims process with ease.
What took the most time was finding a way to transport my bike to the shop. Mark said he would be on vacation and would return on Wednesday. I called him, and he informed me that by the end of the week, he should have the information for me. It took a total of three weeks from the start to finalizing the claim.
Three days later, I received a callback with a specific dollar amount. Initially, I was upset. I’m not going to lie to you. Because this involved two separate wrecks, I had to pay two deductibles of $200 each, totaling $400. I paid around $2000 for the bike, received $1500, and got to keep the old bike for spare parts.
Now, you may be thinking that the bike is new, but it’s actually worth more than $1500. You are correct; however, I was able to recoup most of the total cost of a new bike. Without insurance, I would be responsible for covering the entire cost of a new bike, currently on sale for $1899 at the time of writing this blog.
The peace of mind that if you wreck your bike, you can recover some of your losses. My insurance covers liability, medical, and vehicle contact. That’s 12 months’ worth of coverage. So, is it worth it? I think it is!
Contemplating some of the things I observe. People are driving while on their phones, impaired, and simply being reckless drivers. They don’t give you the 4-foot space or slow down when they can’t provide you with the space. When my new e-bike arrives, it too will be insured with Velosurance before those tires hit the blacktop.
Conclusion
I discussed the importance of bike insurance, sharing my personal experience with Velosurance Insurance Company with you. I initially didn’t think bike insurance was worth it, but after a series of unfortunate events, including a collision with a stray dog and a subsequent bike malfunction, I realized the value of having insurance. The process of filing a claim with Velosurance Insurance Company was handled professionally and efficiently manner. I believe that bike insurance is worth considering, especially for new e-bike purchases.
Do you think bike insurance is worth it?
The insurance company I use can be found here – https://velosurance.com