Home insurance and your bike: they work in tandem!

Like the rest of your property, bikes are generally covered by all risks home insurance. That being the case, you’re covered against fire, theft and vandalism. So, a valid insurance policy will cover your and your family’s bicycles.

Changing gears, let’s take a look at some specifics!

Situation #1: Your bike is stolen from your home, the cottage or someone else’s house

Your bike get stolen right out from under your nose while you were sleeping peacefully in bed? Thieves get into the shed at the cottage? Your bicycle go missing while staying over at a friend’s? The coverage provided by home insurance extends far beyond your house. You can claim a theft, regardless of where it occurred.

Usually, accessories such as racks are also covered in the event of theft. Some types of property are, however, subject to coverage limits. Talk to your insurance agent for expert advice.

Tips for limiting the risk of bike theft

There are many ways to prevent bike theft. The goal is always to make life difficult for the thieves. Always store your bike in the house or garage and avoid keeping it in an outdoor shed. If you’re visiting a friend, see if you can keep your bike in a free room. You should also invest in a quality bike lock: it’s a better deal than the deductible you’d have to pay for your insurer to cover the theft of your bike!

Situation #2: Your bike gets damaged in its rack during transport

Your bike, installed in the bike rack on your car, gets damaged in a collision while you were transporting it. Unfortunately, you probably won’t be going for a ride anytime soon and will likely have to come up with a plan B for your vacation. As a small consolation, your home insurance generally covers damaged property.

Situation #3: Property damage following a collision

During a bike ride, you get into a minor accident with a motor vehicle. Thankfully, you’re unharmed and your all risks home insurance policy will cover the property damage caused in your accident.

That said, if your bike is damaged because of a bad maneuver on your part or after hitting a pothole, for example, you’ll have to bear the repair costs yourself. Damage to your bike resulting from normal use is not covered under home insurance.

Situation #4: Damage caused to others

Bike paths can be busy. Say you were to accidentally ride into a pedestrian, who struggles to their feet, a little shaken. In this case, the civil liability coverage included in your home insurance policy will, if necessary, compensate the person involved. Same principle as when you damage a parked car’s side-view mirror as you drive past.

Situation #5: You suffer a personal injury when out for a ride

If you’re in an accident while riding your bike, whether you’re at fault or not, the costs incurred to treat bodily injury aren’t covered under your home insurance policy. However, the Société de l’assurance automobile du Québec (SAAQ) may compensate you if a motorist was involved in the accident. Compensation is offered regardless of fault.

But be aware! If you hit a parked and driverless vehicle, you won’t be entitled to any compensation from the SAAQ. And a cyclist who’s in an accident that doesn’t involve a car will have to go through their private insurance to cover the resulting injury or disability.

Situation #6: Going abroad?

Cycling enthusiasts who like to bring their bicycle along when going abroad have no reason for envy. Home insurance will cover their bike during transport. However, health care expenses incurred due to a fall while cycling aren’t covered. That’s where travel insurance comes in handy!

Situation #7: What about my electric bike?

Electric bikes are getting more and more popular. They’re the keys to new, more remote destinations, places you may never have dreamed of going without that extra boost. A well-equipped electric bike can cost thousands of dollars. All risks insurance from iA Auto and Home also covers electric bikes up to $3,000. Check the terms and conditions of your policy with your trusted insurer!