I guess it takes skill to ride a one wheel bike and if you’re like me, the one wheel bike is not going to happen. Why gamble when its dangerous enough already trying to stay safe on a FOUR wheel vehicle, right?
Right now, more self-employed guys in Ontario are taking the chance to ride the one wheel version, since they were forced into mandatory WSIB earlier this year. At that time many contractors were squeezed and forced into WSIB at great expense – and to cut costs, some contractors have cancelled their private 24 hour accident coverages in order to keep expenses down.
The danger of this change: WSIB (or the equivalent in your province) is basically an accident insurance on the job site only, covering you between 40 to 50 hours weekly. It leaves contractors around 62 hours weekly of unaccounted protection time, that’s after deducting sleep time. This 62 hour period is spread over 7 days, including weekends, where injuries can happen, either helping friends move house, or perhaps something as simple as as twisting your ankle as you step clumsily onto a curb getting out of your truck. Or how about breaking your leg somehow, taking 8 to 12 weeks to heal. Chances are you’ll lose income as you can’t go to work – contracting, if your on the tools is akin to being a professional athlete! Maybe you even have to bring in someone to do the heavy lifting at added cost that you can’t possibly budget for.
Some readers may say: listen, I’ve already got private 24 hour personal accident insurance through an insurance company. But depending on your policy, this could still be a one wheel bike you’re riding and very dangerous.
The two wheel bike is adding a back wheel called: SICKNESS benefit, covering items like: arthritis in your hands, deterioration of discs in your back, tendonitis in your wrists, knee issues after the accumulation of 20 years crawling about on all fours laying floor tiles. Even worse: How about prostrate cancer, diabetes, blood pressure issues, anxiety, heart attack, stoke… and the list just goes on. Accident-only benefits don’t cover these. As we age, sickness coverage is crucial.
Two wheel bikes in the form of SICKNESS benefits cost more, but in my 34 years of experience, it’s well worth these extra dollar. Just make sure you compare the different sickness plans out there. The rule of thumb is, the less it costs, the less claims you’ll get paid, as those lesser cost coverage’s carry restrictions and limitations to keep claims down. The higher cost plans normally don’t carry these restrictions and have very few loop holes for the insurance company to use and not pay your claim.
Finding the right coverage or insurance broker who knows the difference is never easy, but you could try at organizations like: Independent Financial Brokers of Canada. We here at CARAHS have no affiliation with them, this is just advice for you to think about. For more information, contact Monica at CARAHS, our senior disability income specialist, Email firstname.lastname@example.org or toll free 1 866 366 2930. She will be able to guide and give you advice Membership in CARAHS is not a requirement to participate!
CARAHS is a non profit organization ( Canadian association of Renovators And Home Services)
EDUCATION – TRAINING – BENEFITS we now have over 70 online safety courses