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What About My Bike?


We don’t offer coverage specifically for your bicycle. However, because there are no restrictions on how you use your benefits, you can use them to help repair or replace your bike.


Why do I Need More Insurance?


You probably have health insurance, and might have disability and life coverage as well. However, our program is built to cover the life changing injuries you face on a bike and help cover the gaps in your insurance plan(s). There are two reasons why you cyclists need more insurance:

First, health insurance only pays for medical expenses. A serious crash can have many costs that your health plan won’t cover, such as getting a special vehicle for transit, or modifying a home to be wheelchair accessible. Lost income can be a struggle, especially if you’re out of work for months. Hopefully, anyone who suffers a life-altering crash has disability insurance - but even that isn’t enough. It only lasts for a set amount of time, and typically only pays 60 percent of a person’s income.

Second, if you’re like most Americans, your health insurance requires a deductible and co-insurance. That’s money you must pay before your insurance pays your medical expenses. For an individual, a deductible and co-insurance likely costs around $3,000 and often much more. With family coverage, it can run to $6,000 or more. That’s a lot of money. Most Americans don’t have that kind of cash available, even in an emergency. But $6,000 is a drop in the bucket if you need serious medical treatment.

Read more on our article on why, for cyclists, health insurance isn’t enough.


What’s Surplus Lines Tax?


Surplus Lines taxes and fees are charged by your state of residence on insurance transactions through non-US based insurers.  Balance is underwritten by certain underwriters at Lloyd’s so we must collect the applicable Surplus Lines taxes and fees to pay to your state of residence.

 

Any Other Questions?

Send us an email or give us a call.

 
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