Bicycle theft insurance

How to prevent theft and what to do if your bike is stolen

Old bicycle locked up outside

On average, a bicycle is stolen every 30 seconds in the United States. Of course, most cyclists are aware of this plague targeting the cycling community which is why they’re turning to bicycle theft insurance. Bike theft insurance is an alternative to renters or homeowners insurance that gives cyclists more protection. Let’s explore and take a deeper dive into the benefits a bike theft policy delivers.

What Is Bicycle Theft Insurance?

It’s pretty simple. If you own a bicycle or electric bike, you purchase an insurance policy to protect its value should it ever be stolen. If it is stolen, you report the theft to the authorities and to us (your insurance provider). We then disperse benefits that cover the full value of your bicycle.
Basically, if your bike gets stolen we give you money to replace it. Pretty neat, huh?
Simple Bike Insurance offers bicycle theft insurance policies that let you choose the value of your bicycle and decide how much you want your deductible to be. It’s affordable, it’s easy, and it takes just a few seconds (that’s right, we said seconds) to get a free bicycle insurance quote.
Old bicycle missing a wheel

Wait, wait, wait. I have renters insurance or homeowners insurance. Doesn’t that cover bike theft?

Maybe! That’s going to depend on your insurance carrier. However, even if your policy does cover bicycle theft, it’s unlikely they’ll cover it at full-value. Plus, if you make a claim, you run a very real risk of your rates going up. Simple Bike Insurance not only covers your bike at full-value, but we also won’t raise your rates if you make a claim.

How Does Bicycle Theft Insurance Protect Me?

Other than covering your bicycle at full-value if it’s ever stolen, there are a few pretty big advantages to carrying a policy with Simple Bike Insurance.

Peace of Mind

This one is overlooked and underrated, honestly. Whether you spent $100 on your bicycle or $7,389, plenty of us cyclists are looking over our shoulder for thieves (and cars wandering into the bike lane).

With a bicycle theft insurance policy, you don’t have to worry as much. You’ll still be able to make the race next weekend and you won’t be out thousands of dollars. Rest a little easier knowing if something happens, you can easily replace your bicycle or e-bike.

Easy Claims

Insurance companies can sometimes have a bad reputation for hassling policyholders when it’s time to make a claim. That’s why Simple Bike Insurance has pledged to offer no-nonsense claims to benefit our riders.

If your bicycle is stolen, you’ll need to gather some documents then email them to us along with a report of what happened. Grab your police report, photos of evidence of the incident (if you have them), and receipts for bicycle, bike lock, helmet, etc. That’s it. We’ll be in contact ASAP and have an emergency line you can call if you can’t wait until normal business hours.

Interim Benefits

Simple Bike Insurance dispenses benefits for eligible claims as fast as we possibly can. We understand how valuable your bicycle is, especially if you’re a commuter or competitive cyclist.

If you can’t wait until benefits are dispersed, we cover replacement bicycle rental costs in the meantime. We’ll also reimburse event fees if bicycle theft kept you from participating in a competitive ride.

A bicycle theft insurance policy does so much more than just cover the value of your bicycle. It protects your cycling lifestyle and keeps you clipped in, no matter what.

Bicycle tire chained to a bike rack

How Much Does Bicycle Theft Insurance Cost?

The easiest way to find out how much a bicycle theft insurance policy will cost is to get an instant quote. It takes less than five minutes and you get an accurate quote that’s tailored to you, your bicycle, and the way that you ride.

Most of our policies are customizable. We give our cyclists options to choose deductibles that work for them. However, if you’re looking for quick ballpark numbers:

  1. We offer policies starting at just $100
  2. We have low deductible options ranging from $200 – $500

For yet an even deeper look at bicycle insurance prices, check out our ultimate insurance guide or simply get an instant quote in seconds.