According to the latest statistics from Vélo Québec, 4.5 million Quebecers are avid bike lovers. It's a safe bet that this number has increased in the last few years.
While some people use their bikes for fun, such as family rides or sporting excursions, others use them daily as a means of transportation to get to the office.
Among these users, there are many die-hard fans: those who have a real passion for cycling and who invest time and money in this sport. And it's fair to say that acquiring a high-end, high-performance bike can sometimes be a real investment, with some two-wheelers costing up to 8,000 $.
The Classic Bicycle
Today, most people are comfortable with including their bicycle as a personal property under their home insurance policy.This option is ideal for bikes worth a few hundred dollars.
The policy includes:
- An overall reimbursement limit per bicycle or for all the family's bicycles, which can vary in the event of theft from 2,000 $ to 5,000 $ depending on the insurer. A deductible also applies according to the terms of the contract.
- Reimbursement in case of collision with a vehicle or aircraft. However, breakage caused by a fall is excluded from the contract.
The High-End Bike
For a more valuable bike, it is best to discuss with your insurance broker in order to obtain a contract endorsement that will guarantee better protection against theft and accidents.
For an additional premium, this endorsement will cover the bike for a pre-established amount with an "all risks" coverage.
Have a good and safe summer on your bike!
