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Thread: Pedicab Insurance In the USA

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    Default Pedicab Insurance In the USA

    First off, when looking for insurance look to a local company to get your liability coverage instead of going to the following folks. It will likely cost you less if you can find a sympathetic local company. Ask your local regulatory authority the name(s) of the insurance company(s) currently being used by other pedicab companies. (if applicable)

    If you have called all of your local companies and are unable to get them to work with you try these folks:

    Product liability insurance for bicycle and bike component company(s) and manufacturer(s) including Segway, endorsed by the NBCMA.

    These guys are known for providing insurance for bike shops as well as pedicabs. A Google search may turn up others as well.

    The following article is a good read when considering what kind of insurance to get:

    Pedicab Blog: I feel your pain

    I spoke to Greg Duran of Colorado Rickshaw about this. He said, basically when picking insurance you need to figure out how much risk you are willing to accept.

    Do you get coverage that will pay out only when you are actively paying on the policy, or will it continue to pay out if you are sued after you have stopped using the policy?

    Do you want insurance that will replace your bikes if they is stolen or destroyed?

    How much coverage is required? Do you want more than the minimum liability coverage? $300k? $500k? $1 million? $2 million?

    When I was working with a local company, the difference in price between a $300k policy and million dollar policy was pretty small. Also the requirements that that the insurance company place on you will vary greatly depending on who is the underwriting company that the agency gets to back the risk.

    Basic insurance info here:

    Insurance - Wikipedia, the free encyclopedia
    Last edited by Ken Cameron; 02-06-2009 at 11:22.

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