Have you ever wondered how insurance companies make money? Maybe you’ve already noticed how keen they are to sell you a policy and equally, how reluctant they are to pay out. In fact, if you’ve ever tried to file a really substantial claim, you’ve probably discovered there was more fine print than you originally thought.
ETA is a company that provides insurance for cyclists in Britain. The advert before me boasts that it pays “up to £1 million in the event of you causing damage while you are cycling to property or to another person.” I take this to mean, any time you’re riding your bike.
In addition, they offer 90 days of cover while you’re in Europe, meaning that you’re not in the UK, and new-for-old replacement if your bike is stolen; so, now you know how to get a new cycle.
The most interesting coverage they provide, however, is their personal accident cover, “which pays you compensation if you are killed or seriously injured while cycling.
Collecting for the latter is probably easier than it is for the former.
Bruce Hoag, PhD, CPsychol