Markel American Insurance Company has announced the introduction of Markel Cyclist – a new bicycle insurance program built from the ground up to provide specialized protection for cyclists. After surveying avid cyclists, Markel has created a product with one goal in mind – to allow cyclists to create their own policy to match the way they ride.
Each policy is custom-built and can include Bicycle Physical Damage coverage protection for damage to the bicycle caused by collision, fire, theft, vandalism or hitting another object. In addition, coverage for spare parts, cycle apparel, rental reimbursement and competitive fee reimbursement is included at no additional cost. The policies also offer protection for medical payments coverage and coverage for injuries they suffer when hit by an uninsured or underinsured motorist.
Also available for purchase are Bicycle Liability coverage to cover injuries or property damage caused by the insured cyclist; Medical Payments to cover medical costs of the policyholder associated with a loss and Vehicle Contact Protection to provide an additional source of recovery for the insured cyclist if he/she is struck by a vehicle without adequate insurance. In addition, Roadside Assistance coverage is available to policyholders for only $10 per year. This coverage offers the cyclist 35 miles per tow and up to five tows per year.
The roadside assistance and theft coverage sound like a good plan to me. What about you? Let us know in the comments below.Tweet Print