Bike insurance coverage varies by state and by city.
Here’s a look at what you can expect in your area.
1.
Bicycle insurance rates vary widely.
In most cities, the average cost of bike insurance is $15 per year for one rider and $10 per year per passenger, according to Insurance Information Institute.
In cities that have insurance companies that cover more than one vehicle, the rate can vary from $12 per year to $24 per year.
In a few cities, like Los Angeles and San Francisco, the annual rate is even lower, from $6.25 per year, to $8 per year or $12.25 for the two-person car.
2.
Bike insurance policies vary by state.
In some states, there’s no requirement for coverage, which is why you may see rates as low as $10 a year in some cities, according in an Insurance Information Council study of more than 10,000 cities.
Other states require bike insurance coverage in certain circumstances, such as when a driver crashes into a pedestrian.
Some states have higher premiums for bike insurance.
In New York, the most expensive city, the cost is $3,500 per year in a car insurance plan and $2,500 in a motorcycle insurance plan, according an Insurance Industry Institute study of 20 major cities.
Some cities also have rates that vary from one insurance company to another, according a study by the Insurance Information Association.
3.
Bike and pedestrian safety are important.
Many cities have laws that encourage the use of bicycles to reduce accidents, according Insurance Information Forum.
In California, for example, there are laws that require cyclists to wear helmets and give pedestrians the right of way.
In Colorado, cyclists are allowed to ride in a crosswalk on the left side of the street, according the Colorado Department of Transportation.
In Minnesota, cyclists and pedestrians are allowed in the middle of the road, and bicyclists and pedestrians must yield the right-of-way to motorists on the street.
If you’re in a bike-friendly city, check the rules.
4.
Bike thefts are a problem.
A 2011 study by Insurance Information Network found that the number of bike thefts in cities with bike infrastructure rose sharply during the financial crisis.
In San Francisco and other cities with more than a million residents, the number increased by 1,500 percent in just one year.
The study also found that there were a number of thefts by cyclists.
“A big driver of bike theft is the lack of infrastructure to deter cyclists from using a bike in certain locations,” according to the study.
5.
Bike sharing services have emerged in cities.
Bikes are now becoming more popular in cities, and many bike sharing companies have begun to expand their services to include the use.
Bike Sharing Inc. and Mobike, for instance, have offered free bikes in cities across the country.
In Atlanta, where there are only about 100 bikes, Mobike is offering free bikes to the public.
Mobike recently announced that it will offer a service in Philadelphia, where it already has two locations, including one in Center City.
6.
You might have to pay more for bike and pedestrian insurance.
The average cost for a collision-only bike insurance plan is $10.30 per month, according AutoInsurance.com.
While it’s hard to say for sure how much additional coverage you might have, some people who have insurance on their cars might find that their premiums rise by as much as $100 per month.
7.
Bike safety tips.
While you may not have to worry about being hit by a car, there is always a chance you could be in a collision.
There are several ways you can reduce the risk of being hit.
“When you’re riding a bike, you have more control,” says John W. Mott, a professor at the University of Michigan.
“If you have a handlebar harness, you don’t have to turn it.”
If you have to stop and turn around to change lanes, you can keep the pedals on your left foot, instead of using the right, says Brian D. Burdette, a certified bike safety instructor in the United Kingdom.
“You don’t want to be hitting the brakes while you’re turning,” he adds.
The key to a safe ride is riding at a safe speed.
If your bike is on the highway, or if you have someone on your bicycle who’s driving, you need to steer away from other drivers.
It’s also important to avoid getting too close to cars and pedestrians.
And if you’re trying to make a left turn, remember to keep your right foot on the handlebars.
“As long as you stay in your lane, there will be no crashes,” says Michael H. Taggart, a law professor at St. Mary’s University in Virginia.
“That’s a huge advantage of a bike.”
8.
You may be eligible for a discounted bike insurance claim.
The Insurance Information Coalition says that if you pay $500 or less out of pocket and are covered