Originally Posted by
I-Like-To-Bike
The poster is looking to insure the bicycle, not his life. No regular insurance company agent is going to write a policy for bicycle damage incurred while the owner was involved in a bicycle race; get real!
I believe that Markel, and some others do. The numbers just don't add up though.
The risk you're going to destroy your bike in a race are really pretty low. I've raced for years, had my share of crashes and never broken a frame in a race.
Even if you do break a frame, they are often repairable for a few hundred dollars, and even if you were so unfortunate to destroy the frame, most of the rest of the bike will likely be salvageable, and you're looking at few thousand for a new frame on really expensive bike.
Insurance carriers know this. They underwrite the risk so that they will make money, i.e. the premiums they take in, plus investment income will always exceed what they pay out in losses. Otherwise they couldn't stay in business.