Bicycle Insurance
My friend Anthony tempted fate the other day. He entered a crosswalk on a stale green. He did not clear the 4 lanes in time. A speeding motorist ran him down. The one and only thing the attending officer considered was that the light had changed. The motorist got off. Anthony is recuperating from a broken hip, pelvis and femur in my recliner and will be for some time. Do you have a place to go and where you might get assistance?
Anthony is fortunate. He has an incredible employer that rushed to assure him he would have a job when healed (do you?). They took care of his FMLA and maintaining his insurance is a pittance. Sadly, he will still have huge deductibles and some uncovered expenses. He has no disability insurance, so he has no kncome, but his landlord is taking care of him. I can repair his bike on my own time and using a lot of my own spare parts (frame is not bent, but his motor mounts, crank arms and fork are toast). He lives a rather Spartan lifestyle, so he has no debt, car payments…. How would you cover expenses?
I am no one’s idea of an expert on bicycle insurance. I have had the ability to sell Oyster brand bicycle insurance for nearly a year. I have not yet insured my own.bikes! I am ashamed that I did not encourage him to get the insurance I could have offered. His uncovered medical could be paid. He might have disability insurance. They might go after the speeding driver. Physical therapy wouldn’t be a question. His bike would be replaced and he would have no fears for his financial situation.
I get it. Like me, you may have some coverage through your company, Medicare, Soc. Sec. income and home owner’s insurance. You might be able to handle the loss from a crash or theft, but should you? What if that driver goes after him for some sort of emotional damages (happened to another friend of mine)? Should we have a policy that covers these?
I’ll be spending some time learning all I can over the next few weeks. The price is absurdly low at $10/mo. Liability alone might make it worth it. Full replacement coverage, theft or crash, medical, gear and even clothing costs are covered. I”d really like your input on this, especially if you know specifically what coverage you alrrady have.