How To Find Cheap Yet Reliable Bike Insurance?

Shopping for cheap bike insurance won't take you a lot of time, but you do need to pay attention to make sure you are getting the best deal for the price. Sometimes, the difference of a few dollars means thousands less in coverage, so shop with caution.

Where to Look for Bike Insurance

The best way to quickly comparison shop for cheap bike insurance is to go online. On the web, you can quickly compare offers from multiple companies. Because you need insurance you can rely on, watch out for these three common pitfalls:

1 - Level the Playing Field

When comparing insurance offerings, make sure each policy is based on the same replacement cost and has the same deductibles. Often, insurance seems cheaper because the company has based the premium on less coverage or substantially higher deductibles. To compare fairly, set your deductible at $500 with each company and set the same bike value for each quote.

2 - Watch for Hidden Fees

Some companies may offer what appears to be cheap bike insurance, but once you start paying you are hit with all kinds of hidden fees. Some insurance companies will charge you an additional fee for paying monthly instead of annually, so be sure you understand all of the costs before chosing.

3 - Adequate Coverage

Make sure that whatever policy you choose has insurance you can rely on when you need it. The claims process should be easy and straightforward and the insurance should fully cover any incident you have with theft, loss, or damage.

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