Is your Insurance Company Financially Strong? Choose AM BEST A+ Superior!
BikeInsure is a specialty insurance agency that offers cyclists affordable bicycle coverage in the United States. The BikeInsure plan is administered by a licensed insurance producer BikeInsure. It is underwritten by AM Best ‘A+’ (Superior) rated carrier Great American Insurance Company, authorized insurers in all 50 states and DC. (Rating affirmed December 16, 2022).
For 150 years, Americans have trusted Great American Insurance Company to protect them and render best-in-class service. Great American Insurance Company has been one of only four companies rated "A" or better by AM BEST for more than 110 years.
BikeInsure is in collaboration with and underwritten by Great American Insurance Company because, on behalf of our cycling customers, our innovative bicycle insurance requires a financially strong insurance company. According to GAIG, "Because you are buying a promise, you want to know that the insurance company you choose is financially strong. One way to judge this is by the ratings assigned by outside rating agencies."
According to the company, "Founded in 1899, AM Best is the world’s first credit rating agency. It all began with the founder working out of a one-room office in New York City and grew to become what is now the largest credit rating agency in the world specializing in the insurance industry."
In December 2022, AM BEST contacted BikeInsure to announce the hiring of Ira Becker in BestWire, "People In Insurance." BestWire is AM Best’s real-time news service.
Insurtech BikeInsure Names President
December 16, 2022 // 4:00 PM (EST)
MARYLAND //BestWire// - BikeInsure, an insurtech company specializing in bicycle insurance for cyclists in the United States, has hired Ira Becker as president.
Becker joins the company from BicycleBlueBook.com where he served as president. In this role, he guided the bike organization into the definitive used bicycle valuation tool for consumers and the cycling industry. As a result, over 3,000 independent bicycle dealers have adopted the BicycleBlueBook.com Authorized Trade-In Program, according to a company statement.
The original standardized bike insurance product aims to afford each bicycle and eBike owner across the United States comprehensive bicycle coverage at a reasonable price. Additionally, BikeInsure seeks to meet each cyclist where they desire to purchase their favorite cycling products or services.
“Ira will drive business development with each BikeInsure partnership integration that will take embedded insurance to a new level of frictionless engagement,” said BikeInsure Chief Executive Officer Buzzy Cohn. “As a result, each bicycle or eBike brand, independent bike shop dealer, or cycling organization partnership customer will be referred directly to BikeInsure for a simple two-minute sign-up to secure comprehensive bike insurance.”
According to the company, today’s cyclists need a standalone insurance policy to protect their new or used bicycles and eBikes. BikeInsure provides reimbursement for repairs to the bike and listed accessories due to riding accidents and during transit. The BikeInsure plan extends to a stolen bike or eBike when optional theft protection is selected.
The BikeInsure plan is administered by a licensed insurance producer BikeInsure and is underwritten by Great American Insurance Co. and Great American Spirit Insurance Co., authorized insurers in all 50 states and D.C., according to the company website.
Units of Great American Insurance Cos. have current Best’s Financial Strength Ratings of A+ (Superior).
(By AM BEST BestWire)
AM BEST A+ Superior rating affirmed December 16, 2022.
Standard & Poor's A+ rating affirmed March 8, 2022.
Moody's A1 rating affirmed April 28, 2022.
Are you a bicycle owner?
BikeInsure innovated a process that allows a cyclist to obtain bike coverage with optional bike theft insurance for a bicycle as quickly as it was to get for your smartphone, all from the BikeInsure sign-up portal. In addition, the comprehensive insurance for your bike or eBike includes a standardized $10,000 limit and a $100 deductible for only $16.99 monthly.
Do you want cycling insurance that covers your bike?
Accidental Damage + Optional Theft Coverage = BikeInsure Comprehensive Bicycle Insurance
- Road Bike Insurance is $16.99/mo.
- eBike Insurance is $16.99/mo.
- Triathlon Bike Insurance is $16.99/mo.
- Mountain Bike Insurance is $16.99/mo.
- Gravel Bike Insurance is $16.99/mo.
- Fat Bike Insurance is $16.99/mo.
- Cyclocross Bike Insurance is $16.99/mo.
- Cargo Bike Insurance is $16.99/mo.
- YOUR BIKE INSURANCE is $16.99/mo.
Do you want a simple sign-up enrollment for your bicycle insurance coverage?
Unlike other bike insurance companies, with BikeInsure:
- No social security numbers are requested.
- No credit reports are required.
- No credit-based insurance scores are necessary.
- No underwriting requirements.
Would you like to review "A 2023 Buyer's Guide to America's Best Bicycle Insurance?"
Before you ride your bicycle again or your bike is stolen, check out "A 2023 Buyer's Guide to America's Best Bicycle Insurance" here.