Bicycle accident insurance does not really exist. People are protected through their uninsured motorist coverage in their own auto insurance policy. This is why people need to have uninsured motorist coverage with sufficient policy limits. In CA, an insurance company is required to offer uninsured motorist coverage to you, but you do not need to obtain it for full coverage. Though you can essentially waive uninsured motorist coverage, this is a terrible idea, especially if you are hit while on a bicycle and the person who caused the injury has little or no insurance to pay for your bills and injuries.