A bike insurance company in Ottawa has come under fire for offering a high-priced policy that will cover your bike if it’s stolen.
Carolyn Carrington of Carrington and Associates says her company is offering a “very high-end” bike insurance cover that can be “over $1,500”.
“If someone is seriously injured in a collision, they can’t go home for three months or more,” she said.
“It’s very important to have coverage, because there are no other insurance options that cover your motorcycle, let alone a bike stolen.”
In addition to the bike insurance coverage, Carrington said her company offers “high-end bike and motorcycle-related items” such as helmets, sunglasses and other protective gear.
But the most expensive insurance option is a car insurance policy that costs between $1.5 million and $1 million, according to Carrington.
This policy covers only your vehicle, which is why it’s “the most expensive option” in the industry, she said, but not necessarily the most appropriate one for you.
It’s a good thing that it’s a car policy, because if you do crash, it could cost you $20,000, Carwells says.
She’s not sure exactly what will happen to you if you’re injured in your vehicle or in a crash with a stolen bike, but she’s hoping that you can make a claim.
And while the insurance companies claim they’re not offering a guarantee, Carlowes is aware of at least one case where someone has gone into a car dealership and gotten a bike to pay for a claim after their car was stolen.
Carrington said she doesn’t want people to think that she’s offering a bike cover that will protect a bike in the event of a car accident, because that’s not the case.
When a car hits you, there’s a high chance you’re going to be injured, Carlinss says.
“But I think people get the wrong impression.
It’s more likely that if you have a bike on your bike, you’re protected, and that’s the best option.”
She recommends that anyone thinking of buying a bike or motorcycle insurance policy is aware that the rates on some policies are very high, and they should ask their insurance agent about the terms of the policy before buying it.
There are other companies offering insurance coverage that cover a bike for a much lower price, she says.
Carlowes said her policy will cover up to $1-million worth of damages, but will not cover injuries sustained during a crash.
The policy does cover your vehicle for the first six months, but after that, Carletts says, the insurer will pay only for your home.
Carwells said the price of her policy is based on the amount of damages suffered, not the actual cost of the injury.
In the event you’re in a car collision with a bike, Carlls said, she recommends you “get yourself a bicycle repair shop, and get your bike fixed.”
If you’re not happy with the policy, Carleyns recommends contacting her by phone.
If it doesn’t work out, Carrells said she will provide her insurance agent with a copy of your insurance card and a description of the claim, along with photos of your bike and damage.
If you have any questions about bike insurance, contact Carrington at (613) 869-2700 or by email at [email protected]
Follow Stephanie Meehan on Twitter: @stephanieeehan