I recently reached out to peers in the insurance industry to answer a question. I wanted to know if they had a resource to insure people whose main form of transportation was bicycle. Their response led me to become a trusted partner with Velosurance.

Here in Portland, Oregon, many utilize the bicycle as their primary form of transportation. Check out these stats from the Portland Bureau of Transportation;

7.2% of commuters go by bike. This is the highest percentage of bike commuters for a large American city and means more than 17,000 workers in Portland choose to bicycle. Nationally, 0.5% of commuters bicycle. In addition, 238% more people biked to work in 2010 than in 2000.

350 miles of bikeways are on the ground in Portland, with more than 50 more miles funded to be installed in the next few years.

Portland – was named a “platinum” bicycle friendly community by the League of American Bicyclists – its highest rating. Portland was also named the #1 bike-friendly city by Bicycling Magazine for many years running.

Combine those statistics with the fact that NIKE, based in Oregon, developed Biketown. This is a bike rental system where users can rent bikes to ride. The can then pick up and drop off at the Biketown terminals throughout Portland. In fact, an annual pass is $99 allowing 90 minutes of ride time per day.

Portland is already a bicycle-friendly town, or as Nike calls it, Biketown. For some cycling is a way of life. This realization led me to the partnership with Velosurance. Being able to offer this value to my customers is the reward.

Coverage is similar to a traditional auto policy. Some of the highlights of the coverage options are,

The ability to expand your coverage outside of the US and Canada. Must-have if you travel with your bike abroad. Covers the bike while in transit.

Offers up to 35-mile service vehicle ride when you are stranded on the road.

Personal Liability up to 100,000 when operating your bicycle

Medical expenses if you get hurt riding your insured bicycle. This is excess over your health insurance and should not exceed your health insurance annual deductible or maximum annual out of pocket expense.

Uninsured motorist coverage – this pays for injury medical costs caused by physical contact by the insured cyclist with an uninsured, underinsured, or a motorist who cannot be identified, such as a hit-and-run.

You can cover the physical damage to the bicycle, race fee reimbursement, and many other coverages. This is clearly a policy written with Portland, Oregon in mind.

Give us a call to go through things and help you make sure you are only buying the coverages you need.  A personal auto policy and a health insurance policy can overlap.  Call us today and we can help cover your bicycle today! 971.303.8508

You can also reach us at https://www.lucascole.com

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