What is new at the cycling trade show from a “legal/risk management” perspective?

Of course nothing dangerous, just a lot of insurance. Dangerous being a very subjective word

There are three companies on the tradeshow floor at Interbike that are selling insurance for your bike. Prices are based on the value of your bike and range from 10% to 50% of what you paid or are paying for you bike.

The difference is what is covered. The more you pay for the insurance the more you get covered if you have a loss. Some of the losses even include tacoing a wheel.

Markel Bicycle Insurance:

RIDES

Spoke Bicycle Insurance:

Prices of bikes have been climbing over the past decade and most road and mountain bikes are starting at $5,000 and many road bikes can be double that amount. (If you want to know what you bike is worth there is a new site for that too. See Bicycle Blue Book). So you do have an investment in your bike. However to have these insurance companies, that have been around for a while, now get out and in front of retailers is interesting.

I have not viewed any policies or brochures, but I find the entire issue to be quite interesting to say the least. Of course the issue is are you riding something you can’t replace no matter what and is what you are riding going to stay up in value long enough to justify the insurance.

What do you think? Leave a comment.

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