Bike insurance in Ontario

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2012-06-20 12:25 PM

Regular
172
1002525
Ottawa, ON
Subject: Bike insurance in Ontario

Call me crazy but since I just got my new tri bike (SC 7.0) I am wondering about how I can protect my ‘investment’. As this is the first time I bought a bike with such a high value so I want to make sure that I have the proper protection for it. I have been trying to get an answer from my insurance company but they are not very helpful when it comes to the actual bike coverage beside theft. (My house and car insurance are with the same company)

  1. My understanding is that my bike is cover for theft anywhere I go with it through my house insurance. All I need to do is to buy extra coverage value of my bike that will not be covered under my existing policy. (e.g. covered for $2000 but my bike is worth $3000. I will need to buy an extra $1000 for a ‘minor’ fee) If the bike gets stolen they will cover it.

Are my assumption and understanding correct?

  1. If during a ride and I get hit by a car and that my bike is damage, assuming that the driver is at fault, his insurance will cover for my injuries and my personal properties too right? Basically should my bike is wreck, will the driver insurance be responsible to replace my bike?
  2. If during a ride and I somehow crash due to gravel, potholes… is there anything out there that I can get for some sort of coverage? Although I know it is my fault, I am wondering if I have some sort of coverage as a bike is ‘technically’ consider as a moving vehicle. (like if you hit something with your car, your insurance will usually cover it if you put in a claim)

Thanks

Cheers!

2012-06-20 1:28 PM
in reply to: #4271749

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Master
4118
20002000100
Toronto
Bronze member
Subject: RE: Bike insurance in Ontario
mtx - 2012-06-20 1:25 PM

Call me crazy but since I just got my new tri bike (SC 7.0) I am wondering about how I can protect my ‘investment’. As this is the first time I bought a bike with such a high value so I want to make sure that I have the proper protection for it. I have been trying to get an answer from my insurance company but they are not very helpful when it comes to the actual bike coverage beside theft. (My house and car insurance are with the same company)

  1. My understanding is that my bike is cover for theft anywhere I go with it through my house insurance. All I need to do is to buy extra coverage value of my bike that will not be covered under my existing policy. (e.g. covered for $2000 but my bike is worth $3000. I will need to buy an extra $1000 for a ‘minor’ fee) If the bike gets stolen they will cover it.

Are my assumption and understanding correct?

  1. If during a ride and I get hit by a car and that my bike is damage, assuming that the driver is at fault, his insurance will cover for my injuries and my personal properties too right? Basically should my bike is wreck, will the driver insurance be responsible to replace my bike?
  2. If during a ride and I somehow crash due to gravel, potholes… is there anything out there that I can get for some sort of coverage? Although I know it is my fault, I am wondering if I have some sort of coverage as a bike is ‘technically’ consider as a moving vehicle. (like if you hit something with your car, your insurance will usually cover it if you put in a claim)

Thanks

Cheers!

I've been thinking about doing the same since if something were to happen our bicycles it might be hardship to replace them and several are worth more than our current deductible ... i've just been procrastinating.

Really, I did come on to provide an answer - i can answer number 2 - my DH was hit before I met him but the driver's coverage did pay for the replacement of his bike.  So, yes that's correct.

Others - not sure.

2012-06-25 8:33 AM
in reply to: #4271749

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Expert
758
5001001002525
Port Colborne, Ontario
Subject: RE: Bike insurance in Ontario

Speaking of bike insurance; a friend of mine said he saw someones tri bike get run over on Hwy 406 when it fell off a trailer heading to the Welland triathlon this weekend.  Another vehicle ended up in the ditch avoiding it.  The bike looked totaled.  He's not a tri bike expert be he said it looked expensive.

In this case, I don't know if any insurance would cover this.  Maybe the car's comprehensive? Maybe house policy?  Not sure but thats another concern.

Finally, make sure you bike is SECURELY fastened to your car before leaving for a race. 

2012-06-25 12:22 PM
in reply to: #4271905

Regular
114
100
Burlington Ontario
Subject: RE: Bike insurance in Ontario

Really, I did come on to provide an answer - i can answer number 2 - my DH was hit before I met him but the driver's coverage did pay for the replacement of his bike.  So, yes that's correct.

Others - not sure.

What does DH stand for...sorry I'm an educated person, just can't figure this out...really bugging me...dumb husband, dear husband, I've got others but they're rude.

Mark

2012-06-26 6:20 AM
in reply to: #4279110

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Expert
758
5001001002525
Port Colborne, Ontario
Subject: RE: Bike insurance in Ontario
rhff - 2012-06-25 1:22 PM

Really, I did come on to provide an answer - i can answer number 2 - my DH was hit before I met him but the driver's coverage did pay for the replacement of his bike.  So, yes that's correct.

Others - not sure.

What does DH stand for...sorry I'm an educated person, just can't figure this out...really bugging me...dumb husband, dear husband, I've got others but they're rude.

Mark

I believe in this case she means 'dear husband'.

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