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Bicycle Insurance in the Pacific North West
As a fellow cyclist in the Portland area, I understand the unique risks and challenges riders face daily. From unexpected accidents to theft, bicycles aren’t always fully covered by typical auto or homeowners’ insurance. My mission is to help you secure protection designed with cyclists in mind, ensuring your well-being and peace of mind on every ride.
What is Bicycle Insurance?
Bicycle insurance isn’t a single product, but a combination of coverage options tailored for cyclists. You may already have partial coverage under homeowners or renters insurance, but riders often need more comprehensive protection. Cyclists face increased risks of property theft, collisions, and injury – and it’s essential to have policies that address these specific vulnerabilities.
Protecting Against Theft & Damage
One of the most common concerns among cyclists is, “What happens if my bicycle is stolen or damaged?” Bicycles are typically considered personal property and may be covered under certain homeowners or renters insurance policies. Here’s what to consider:
Theft Protection: To ensure your bicycle is fully covered in case of theft, choose a policy with replacement cost coverage, not actual cash value, as this can help avoid depreciation gaps.
Manufacturer Coverage: Did you know some lock brands will cover your deductible if your bike is stolen while using their product?
Free Policy Evaluation: As a cyclist, I offer a complimentary review of your current insurance to make sure you’re properly protected for theft, accidents, or gear loss. Give me a call at (503) 808-1546 for a free assessment.
Recommended Policy: Umbrella Coverage
For those seeking the most complete protection, an umbrella policy is an affordable way to add $1 million or more in UI/UIM coverage. If you already have a clean driving record, this can cost as little as $16 per month. Umbrella policies also provide extra coverage beyond auto limits, giving cyclists a safety net in case of serious accidents.
Bodily Injury Coverage
Cyclists are more exposed to injury than drivers or pedestrians, and a close call can quickly turn into a serious incident. Fortunately, Oregon law provides certain protections:
Personal Injury Protection (PIP): Required by Oregon law, PIP covers medical bills and can provide up to $3,000 per month in lost wages. With a state minimum of $15,000, it’s often wise to increase these limits for additional protection.
Uninsured/Underinsured Motorist (UI/UIM) Coverage: This crucial coverage helps if you’re injured by a driver without sufficient insurance. It covers medical costs, lost wages, and pain and suffering up to your policy’s limits. Many cycling injury attorneys recommend an umbrella policy for added peace of mind.
How I Insure Myself as a Cyclist
As a cyclist, I know the importance of having solid coverage. Personally, I hold a $1,000,000 umbrella policy with high underlying auto limits (250/500), ensuring $1.25 million in UI/UIM coverage. For added security, I also carry a $15,000 accident policy due to a high-deductible health plan – a choice that provides peace of mind for any accident, on or off the bike. I’d love to help you customize your own policy for full protection. Feel free to reach out anytime at (503) 808-1546 to chat about options.
