Money sign in greenWorking hard to get the best in everything comes naturally for many of us. We sometimes label these things as a “dream.” For example, you saved every penny and worked your hardest to be able to build your dream house. This also includes “dream wedding”, “dream car”, and “dream vacation.”

When we say it is a “dream”, it means that you have been thinking about for a long time, you have planned and strategized about it and love the feeling of the excitement when you are close to fulfilling that dream. Dreams are usually expensive and will take time to achieve and that is in part what makes it a dream.

Some of the these things that you invest in have the potential to last a long time, like cars and houses. Unfortunately, there are unforeseen events that can happen that can take away that dream, like the house destroyed in a fire or the car totalled in an accident. Thankfully, there is an insurance that can help you get back some of what you lost.

So what about cycling and biking enthusiasts? Bikes can be very expensive and the owners know that the investment can be very worth it. A nice bike would normally cost around $1000-$3000 and some brands are even costlier. The more customization done, the most costly the bike may be. Another factor that could affect the price of the bike could be the materials and components that are put into making the bike.

One problem that fancy bicycle owners often face is bike theft, which is becoming too common. Bicycle owners can make use of homeowner’s or renter’s insurance to protect the investment put into owning a bike. Owners may also insure the bike using an insurance policy similar to insuring expensive jewelry. This insurance is called “Special Personal Property Insurance”. The bike owner must be able to prove value through official receipts or appraisal and must take into consideration the upgrades done to the bike and its corresponding costs. The advantage would be full coverage for the bicycle but the disadvantage comes in the from of expensive premiums and limited availability (very few insurance companies cater to bicycle insurance).

So to go around this problem, you probably would go for a second hand bike from a pawnshop, local thrift shops or other outlets (like eBay or KSL) just to save yourself from the heartache of losing your dream bike.

An article about a man who bought a $100 touring bike (second hand) that had plastic pedals and no accessories. The author described the bike as great for short distances but needed upgrades and modifications for longer rides such as better saddles, handlebar extensions and upgraded pedals. In short, the author found out that with the upgrades to make the bike nicer, the second hand bike is now worth up to $500 ($100 initial cost plus necessary upgrades). The touring bike has served its purpose and the owner isn’t worried about it getting stolen because of the older frame.

Okay, you might not have a $500 in your pocket now, but do you have $9? With this amount you can purchase what is considered as the world’s cheapest bike. The bike named “Alfa” is made of 100% recycled materials and is mostly cardboard. The bike weighs 20lbs, yet supports riders up to 24 times its weight and uses a belt-driven pedal system that makes it maintenance free. The bike is priced at $9-$12 for adult bike and $5 for the kid’s version. This bike is designed Izhar Gafni who is also a bike enthusiast.

Well, there seems to be plenty of options now for bike enthusiasts.You can buy brand new, second hand or bikes made of cardboard. You can also rent or borrow for the meantime.

What is important for Christensen & Hymas is that you observe safety measures when using your bike. Obey also all traffic rules and don’t forget to get a full car insurance policy before you go out and bike.

Image courtesy of Charles LeBlanc