If you are a triathlete, you are well aware of the fact that triathlons can be hazardous, and that the risk of accidents or injury is always present. If you already have insurance or think you don’t need it, think again. As a triathlete, there are various insurance issues that you need to think about. Here are some types of insurance you need to consider as a triathlete.
Medical and accident insurance
Like it or not, participating in a triathlon means you’ll be partaking in some rather risky activities that could lead to accidents or injuries. It is crucial that you have medical insurance that covers your medical costs in the event that you need treatment. Medical insurance can take on many forms, and some companies even offer sports accident insurance that is tailored to those at risk of suffering from sports injuries. Be sure to read the terms of your insurance policy carefully to ensure that any situations in which you may be injured are not excluded. Some medical insurance policies exclude injuries sustained as a result of risky sports and activities, so be sure you are covered if you get injured during a triathlon. If you’ll be travelling overseas in order to participate in a triathlon, it is crucial to ensure that your medical insurance covers you overseas as well. If you’d like to be particularly thorough, you can also obtain coverage for injuries, permanent disability and death.
Your bicycle is going to be one of the most valuable things you have with you at the triathlon, so you might want to get it insured. Various property insurance plans can enable you to receive a payout should your bicycle be damaged or stolen. Some policies allow you to extend this coverage to include cycling accessories and other items. Even if you’re not concerned about losing your bicycle, it is important to remember that you will be cycling on the road in traffic and could potentially cause injury to another party. It is thus important to ensure that you have third party insurance as well. This can be particularly important if, for instance, you damage a car or its driver gets injured in an accident.
If you are travelling in order to participate in a triathlon, travel insurance can save you a lot of pain. So many things can go wrong when you travel, and travel insurance can compensate you if for instance you lose your luggage, any of your property gets damaged in transit or your flight is delayed. If your medical insurance doesn’t already cover you overseas, travel insurance can ensure you are covered in the event that you need medical treatment overseas or need to be transported elsewhere for treatment.
It is extremely important that all triathletes are aware of the various kinds of insurance coverage they need, and how this may differ from their day to day insurance needs. Some companies offer insurance tailored to the specific needs of triathletes, and consulting with an expert from such a company can be a good way to stay informed.
Romayne Warner is a full time self-employed blogging fanatic. Obsessed with finding small ways to save money every day, she enjoys sharing her frugal lifestyle tips and tricks with the world, she regularly writes about healthy living and health cover related topics.