THE IMPORTANCE OF INSURANCE IN A CYCLING CASE
This is VITAL and we wish that every cyclist could read this before they ever get on a bike.
When a car hits a cyclist it is always the cyclist who loses. Unfortunately, you will be hurt much worse than had you been riding in a car. It is vital to make sure that you have the correct and enough insurance coverage of your own in place before this ever happens to you. The liability insurance for the driver will be critical, but other insurance that you can buy is also important. We strongly advise every cyclist to buy the following types of insurance:
- Automobile Insurance: Yes, your car insurance can help you if you are hurt in an accident with another car while riding your bike. Two types of coverage are extremely helpful to have in place before an accident.
- Medical Payments: This type of coverage will pay a set limit of medical expenses (usually between $5,000.00 and $25,000.00) in the event you are hit by a car while riding your bike. If you do not have good health insurance, make sure you purchase as much Medicals Payments coverage as possible under your automobile insurance. We recommend buying at least $10,000.00 of medical payments coverage.
- Uninsured/Underinsued Motorists Coverage: This type of insurance coverage will pay for your damages in the event that the person who hit you did not have insurance or did not have enough insurance to fully cover your damages. We recommend buying at least $100,000.00 in this UM/UIM coverage and we personally carry $250,000.00 for ourselves and family members. The fact is that a cyclist can easily have over $100,000.00 in damages after an accident and the minimum required limits that a car driver must have is only $25,000.00. This type of insurance can cover that gap.
- Health Insurance: It is vital that every biker have a good policy of health insurance in place to pay for your medical expenses immediately after you are hurt. The insurance company for the driver that hits you will not pay for any of your medical care until the very end of your case and most medical clinics and hospitals will not even see you if you do not have health insurance to pay their bills.
- Disability Insurance: We have found that most cyclists miss at least some work due to their injuries. In many cases, this can have a devastating impact on their personal finances. If you cannot afford to go without a paycheck for several months, consider a short-term disability insurance policy that will replace some of your income during this time.