Urban Velo

Balance For Cyclists Insurance

balance_web_may_4d Another insurance company is stepping up to office cyclist insurance, this one focused on the rider rather than the bike. Balance for Cyclists provides for coverage for not only medical costs but certain ongoing costs of living for cyclists in serious accidents.

From the press release: Underwritten by the Zurich American Insurance Company, the Bicycle Accident Insurance coverage pays lump sum cash benefits to cyclists or their family who suffer a covered critical injury or death as the result of a cycling accident.
In addition to providing coverage for accidental death from a cycling accident, the insurance features payments for critical injuries like dismemberment, paralysis, and severe traumatic brain injury. Coverage is available in amounts of $50,000 to $250,000. The policy also pays $100 per day for any cycling accident that results in the rider being admitted to a hospital. To qualify for coverage the insured must be wearing a helmet at the time of the accident.

Available in 26 states currently, more are expected to be added shortly. Learn more at www.balanceins.com

4 Comments

  1. Brendan KevenidesJanuary 29, 2013 at 10:39 am

    Those interested in acquiring this coverage should very carefully read the terms and conditions. For example, the policy requires you to be wearing a helmet. No helmet = no coverage. Also, it does not cover persons who use their bikes to make a living, and specifically excludes bike messengers.

  2. Jay PaulJanuary 30, 2013 at 9:52 am

    Brendan, you are correct. As with any insurance product there are exclusions. In order for us to biuld this cyclist specific product we had to find an insurance carrier to take the risk. None would do so if we wanted to cover couriers. We felt it important that riders be safe and wear a helmet. Once the program is successful, we might be able to include persons who ride for compensation. By the way we do include professional racers. Please contact me with other questions. 804-677-3487

  3. Always check the car Car Insurance · MyInfoBlogg.COMFebruary 4, 2013 at 3:51 pm

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  4. KautionsversicherungMay 14, 2013 at 1:00 pm

    I think that many sensible and responsible cyclists, the kind that bother to wear safety helmets and protective knee and elbow pads, would happily pay their annual road fund licence and insurance.

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