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Myths and Misconceptions About Bicycle Insurance

Myths and Misconceptions About Bicycle Insurance

Ride easy by learning what the bicycle insurance myths are and how it can cover you!

With gas prices steadily rising every month, it’s no surprise that people across the nation are turning to bicycles as their main form of transportation.

Bicycles have increased in popularity, and is now the third most popular outdoor activity among adults, with 12 percent categorized as “frequent cyclists”. For children, the percent is steady 22%.

While the basics of bicycle safety are well known (wear a helmet, utilize reflectors, and be visible and alert at all times), many cyclists are unaware or misinformed concerning the steps that they can take to further protect themselves and their bicycle!

Bicycle insurance is a specialized, stand-alone policy that can cover liability, loss, damage, and even some medical payments. With many myths pedaling around, cyclists should know the facts when it comes to insurance!

Myth No. 1: My homeowners insurance policy will cover a stolen bike.
Fact: Some (and we stress, some) homeowners insurance policies will cover the theft of a bicycle if it is listed under the policy. Even if your bike is covered, policies often have low coverage limits for things like sporting equipment. Owners who fall victim to theft may be faced with the replacement cost due to low coverage limits and high deductibles.

Myth No. 2: If I buy a secure bike lock, my bicycle won’t get stolen.
Fact: While bike locks do deter thieves, it doesn’t mean that the bike won’t get stolen. Expert thieves can easily spot high-value bikes, and even with the best bike lock on the market, they know how to make a bike disappear.

Myth No. 3: Only professional cyclists need insurance.
Fact: Whether you ride around the block with your children or pedal to and from work every day, protecting against liability, damage, and losses can protect your bike, family, and finances! After all, most people aren’t professional racecar drivers but we’re required to carry auto insurance on our vehicles.

Are you ready to receive optimum now that you know bicycle insurance myths and misconceptions! Contact the insurance professionals at the Insurance Agency of Dean Davis, serving Austin, Texas for your bicycle insurance coverage.

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Truth Behind 3 Common Auto Insurance Myths

Truth Behind 3 Common Auto Insurance Myths

Auto Insurance Myths Debunked

Finding the right auto insurance policy to invest in is much easier said than done. With all the policy and coverage options that are available, as well as the many auto insurance myths, it can be difficult to ensure that you invest in the right amount of coverage. Make sure you know the truth behind these 3 auto insurance myths so that you invest in the right policy to meet your needs.

  1. Myth: The color of your car will determine the price of your auto insurance. Your auto insurance company will probably not even ask what color your car is when determining your premiums. The rate of your auto insurance policy is based off the make, model, engine size, body type, driving record, and credit history, but not the color of your car.
  2. Myth: Your credit score does not affect your auto insurance. When you are looking for the right auto insurance policy, your insurance agent will pull your credit score to help determine your premiums. Studies have shown that people who have higher credit scores tend to file fewer claims, which will help to keep the cost of their policy low.
  3. Myth: You only need the minimum required amount of liability insurance. While legally this is true, it is not practical. In fact, many insurance companies will not even offer the bare minimum of liability insurance when you are looking for a policy. When investing in a policy, you should opt for the highest amount of coverage that you can afford to ensure that you do not have to pay for any damages out of your own pocket.

Contact the insurance professionals at the Insurance Agency of Dean Davis in Austin, Texas for all of your auto insurance coverage needs to ensure that you have the right amount of coverage for any incident on the road.

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