Bike Insurance: How Much Would You Pay For A Little Piece OF Mind?

The China Post is reporting that one insurer has begun issuing insurance policies for bicycles. The policies provided by Taiwan Insurance will cover accidental damage, loss, theft and personal injury.

This is a wonderful development as I tried to see if I could insure my own bike when I bought it three years ago. At the time I was told that it was impossible to insure unless the bike could have a registration number and it could not be insured under any other policy.

The bicycle insurance that is being offered by Taiwan Insurance can be purchased from NT 1295 to NT 6000, depending upon the value of the bike and other coverage.

There IS only one catch....

The policy must be purchased along with another insurance plan offered by the company. This may be a great idea if you are a cyclist who is currently in the market for an insurance policy, but possibly too prohibitively costly for just the bicycle insurance. Now, if you are an avid cyclist who often takes risks with a very expensive bike, the offer might be worth buying some additional insurance. You might actually feel comfortable leaving your beloved steed parked at the World Gym.