How to choose the best insurance for your bicycle?
When taking out a bicycle insurance, it is essential to be clear about what type of protection we need according to our profile as cyclists and how we use the bike. It is not the same to insure a road bike used for long rides on asphalt, as it is to protect a mountain bike with which we do technical routes or participate in MTB competitions.
In addition, it is advisable to compare the coverages and prices offered by different insurers to choose the option that truly fits our needs. This way, we will not only avoid overpaying, but also ensure we have effective protection against theft, accidents, or material damages.
Types of bicycle insurance: which one suits you best?
Some companies choose to offer basic bicycle insurance, to which extra coverages such as roadside assistance, civil liability, legal defense, or protection against accidental damage can be added. Other insurers offer bundled packages that go from less to more coverage, adapting both to urban cyclists and those who use their bicycle intensively.
For example, if you practice sports cycling with a road bike, you might be interested in insurance that includes coverage for training, cycling tours, or competitions. On the other hand, if you go on mountain rides with your mountain bike, it is advisable to opt for insurance that covers damage from falls, breakages, or losses on more technical routes or in rural environments.
What do insurers offer in Spain?
Most of the major insurance companies operating in Spain have for years had specific products for cyclists. The competition among them has allowed both services and prices to improve, offering quality coverage for all types and values of bicycles.
In addition, many companies apply discounts for taking out multiple insurances (home, car, life...) and launch special promotions at certain times or for specific customer profiles. These discounts can make a significant difference, especially if you are insuring a high-end bicycle.
What is the best insurance I can take out?
First of all, it should be said that the best bicycle insurance is the one that best fits our needs as cyclists. It's a mistake to try to save money on this if, for example, you have a high-value bike and are worried it might get stolen.
Mapfre's bicycle insurance offers a biomechanical pedaling study and an osteoarticular analysis.
Another common mistake is doing just the opposite. That is, taking out many additional clauses for a bicycle that will only be used occasionally. The rule is simple: get the coverage you really need. No more, no less. For example, what good is travel assistance insurance if you’re not going to take your bike to other countries? At Tuvalum, we have made a comparison of the different bicycle insurance policies you can get in Spain. Below, we show you the coverage they offer and their prices. You can compare them to draw your own conclusions.
Axa Seguros
This company offers excellent coverage to insure a bicycle at a competitive price, since the minimum annual amount is 24.15 euros. Its insurance, called BiciFlexible, is designed so you can add extra coverage to the basic package. With this company you can enjoy the coverage of Civil Liability Insurance, travel assistance, rescue and salvage expenses, legal defense and protection, personal accidents, plastic and reconstructive surgery, personal assistance, and theft and damage to the bicycle.
Mapfre
Mapfre adds, to the usual coverage for bicycle insurance, the possibility of contracting what it calls Extra-contractual Civil Liability, which consists of including this section as a private person while using the bicycle, with two options to choose from for the insured sum: 150,000 or 300,000 euros. Another of its innovations is that it offers two additional services: a biomechanical pedaling study and an osteoarticular analysis on a table to check the comparative power of one leg with the other, as well as high-speed filming of the footstep and a monthly review of all this. In addition, an ergometry test can be performed and the subsequent consultation with a professional for its analysis. As for the price, Mapfre adjusts it in each particular case; however, on its website it reminds that it offers a 5% discount on the premium if a helmet is used.
SeguraBici
Starting from 22.50 euros per year, this company specializing in bicycle insurance offers very comprehensive coverage:
- Theft of the bicycle and its extras.
- Travel assistance for both the cyclist and for any breakdowns the bicycle may suffer.
- Civil Liability Insurance for damage to third parties up to 150,000 euros.
- Death and disability.
- Reimbursement of expenses for medical services from 2,000 euros.
- Claim for damages and losses.
- Legal assistance and administrative procedures.
- Reconstructive plastic surgery due to an accident, with a maximum compensation of 1,500 euros.
Run Bike Protect
Run Bike Protect is another company specialized in insurance for outdoor sports (running, skiing, triathlon, cycling, etc.). As in other cases, its basic package includes Civil Liability and coverage for damages due to accidents as well as for theft of the vehicle. It offers national and European coverage, allowing us to insure 100% of the value of the bicycle for accident damage and in case of theft. Its price starts from 28 euros per year, although it occasionally offers discounts.
Intermundial
Intermundial is a company that focuses its activity on travel insurance, but is also very competitive in the sports insurance sector, specifically in bicycle insurance. It is a very interesting option if you regularly travel abroad with your bike. You can take out insurance that covers you throughout Europe or worldwide. From only 11.46 euros per month, it is possible to take out a European policy with Civil Liability up to 100,000 euros, expenses derived from medical, surgical, and hospitalization care, as well as rescue and repatriation, among others. The specific conditions of the policy, such as the coverage areas, will determine the final price of the insurance.
What coverage do cycling federation insurances offer?
Don't forget that if you become a member, you are covered by the bicycle insurance offered by each regional federation. Having a federation license already guarantees coverage in various situations related to accidents. In exchange for paying the amount set by each Federation, as a cyclist you will have coverage through the Mandatory Accident Insurance, which in practice means that the insurance will cover the costs arising from the medical care you receive, including emergency transport to the accident site and hospital admission if necessary. The Mandatory Accident Insurance also covers the payment of compensation for injuries, whether disabling or not, resulting from an accident.
Another key coverage guaranteed by the federation license is the Civil Liability Insurance . This means that if we cause physical or material damage to a third party in an accident, and we must compensate for it, the insurance company will cover up to a maximum amount of 1.2 million euros. One of the reasons why many cyclists choose to join a federation is because the insurance they get with the federation license is not limited to competition days, but also extends to training days and other recreational outings. -
---- (Note: This post was prepared in January 2019. The prices, coverage, and conditions of the insurance policies described are subject to changes made by the insurance companies over time)---