A total of 1,135 bicycles have been insured by the National Insurance Institute (INS), since March 2021 when they were included in the Named Risk policy. This insurance protects cyclists in the event of robbery with violence, fire, malicious damage or damage caused by collision, among other eventualities.
Only last year, 28 compensation requests were registered, representing the payment of ¢58 million, while in the first quarter of 2023, five claims were already recorded for an amount of ¢6.6 million.Causes range from collision damage, theft, lightning damage to malicious acts.
Those interested can purchase the insurance in colones and dollars and to obtain it they must complete an application, present the purchase invoice of the bike, details of the equipment such as model, brand, series, year of manufacture, asset number and individual value that it refers to special additions.
Voluntary automobile policy
You can also insure your bicycle through the voluntary automobile policy, although this does not include theft coverage, but other coverages that provide support in case of damage to third parties (caused by the bicycle to property of third parties or to other people, including injury and death), damage suffered by the bicycle in collision and other additional risks.
Level Amount Basic Accident policy
The other option is through a Level Amount Basic Accident policy, which includes coverage in case of accidental death, total or partial permanent disability due to accident and medical expenses due to accident.The cost of this insurance for a person between the ages of 15 and 60 with the following insured amounts is ¢35 thousand plus VAT per year.
It offers coverages such as:
• Accidental death: ¢5 million
• Permanent Total or Permanent Partial Disability due to accident: ¢5 million
• Accident medical expenses: ¢2 million
In 2022, 37 cyclists or bicycle passengers died at the accident site, according to Cosevi.
