Provides coverage for high-value bicycles that renter's or homeowner's insurance doesn't cover
FORT LAUDERDALE, Fla., May 17, 2016 /PRNewswire/ — Cyclocross, also known as "CX," has been gaining popularity in recent years. Originating in Europe from the need for cyclists to continue riding through the cold, snowy winter months when road and mountain biking were not an option, CX is now enjoyed worldwide and all year long. Interest in CX has especially picked up in the U.S. and may soon reach, if not surpass, the scene in Europe, where televised CX events draw audiences to rival that of the NFL. In fact, the number of riders participating in U.S. Cycling cyclocross events jumped from 32,000 in 2005 to more than 130,000 in 2015.
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"It is our fastest growing segment of our sport," said Bill Kellick, Communications Director for USA Cycling. "It is an emerging discipline. Cyclocross is definitely the hottest discipline as far as growth in numbers."
Sales of cyclocross bicycles in the U.S. have increased so dramatically that major manufacturers are quickly expanding their lineup. Specialized Bicycle Company moved from offering three cyclocross models in 2011 to 14 models in 2016.
While cyclocross is based around racing sturdy road-like CX bikes on an off-road course, the sport is morphing into "gravel riding" on less traveled fire roads and backcountry, unpaved roads where automobile traffic is rarely encountered. Gravel riding is gaining momentum and U.S. Cycling has recognized the need to organize and set rules for gravel-bike race events.
"The gravel segment is the Wild West of bike racing, and it really needs us right now," said USA Cycling's CEO, Steve Johnson. "Gravel racing is in its infancy, we're learning as we go, and have to evolve quickly." Johnson said that USA Cycling is working closely with industry representatives to ensure that the new gravel discipline is aligned with the industry's production capability and address its concerns.
As the sport evolves and the cost of bicycles continues to increase, riders continue to need insurance protection for crash damage and theft. Many owners of high-end bicycles live with the misconception that their bicycle is covered by an insurance policy they already own. The ugly truth only becomes evident when the bicycle owner files a claim with the homeowner's or renter's insurance company, only to find that the circumstances of the loss are not covered by their policy.
Until recently, a homeowner's or renter's insurance policy was the only option available for bicycle owners when insuring their high-value rides. Velosurance is an industry-leading company that is changing that. The Velosurance policy was designed with cyclists in mind and provides coverage for the vast majority of risky situations that a cyclist and their bike might be involved in. The bicycle is also covered while in transit by airline and other shipping companies, or when carried in or on a car.
While covering the bike for theft and accidental damage, a Velosurance policy extends coverage to cycling apparel, spare parts and accessories, such as a racing wheelset or a bike computer, and provides race fee and rental bike expense reimbursement for those situations where the bike is lost or damaged before an event. Medical coverage option can mitigate or eliminate the annual out-of-pocket expense in case of an injury.
Velosurance is a privately held company founded by cyclists and headquartered in Fort Lauderdale, Florida. To learn more about how Velosurance can help manage risks associated with training for and competing in Cyclocross races visit https://velosurance.com/information-center/cyclocross-and-gravel-grinders/ in our information center. To receive a quote please visit www.velosurance.com or call David Williams at 888-663-9948.