Why You Should Buy Bicycle Insurance
The ultimate guide to getting your bicycle, gear, and accessories covered. Plus, tips on affordable medical and liability coverage
Fact! Countless bicycles are stolen in the United States every single day and it’s a problem that seems to be getting worse. Because bicycles sell quickly online and they’re fairly easy to steal, bikes have become a target for theft.
Next to high theft rates, cyclists also have to deal with high rates of injury. Crashes, collisions with vehicles, and other dangerous things happen all the time. Cuts and scrapes aren’t so bad. But what about the more serious injuries that require surgery, hospitalization, or simply time taken off work?
Many cyclists feel they’re covered under their renter’s, homeowner’s, and umbrella insurance policies. While this is true in some cases, it’s recommended that cyclists explore all options available.
What’s in this article? Jump to …
What is bicycle insurance?
Bicycle insurance refers to a special type of insurance that covers bicycles and their riders. Many different types of cyclists hold bicycle insurance policies for a variety of reasons.
- Mountain bikers may buy bicycle insurance for medical coverage in case of injury
- Commuter cyclists may buy bicycle insurance in the event their primary mode of transportation is stolen or damaged
- Professional cyclists may buy bicycle insurance for racing coverage
- Electric bicycle riders may buy bicycle insurance to cover reimbursement costs for stolen e-bike batteries
- The list goes on and on
Bicycle insurance is designed to specifically protect cyclists from injuries, theft, and other problems that many riders face regularly. Plus, you can easily get a quote to cover your bicycle, apparel, and more online in minutes.
What’s the difference between bicycle insurance and my other policies?
There are several differences between bicycle insurance, renter’s insurance, homeowner’s insurance, and umbrella insurance.
When it comes to stolen or damaged bicycles, riders can typically file a claim with any of the types of insurance policies listed above. However, renter’s and homeowner’s insurance policies typically only offer partial benefits. This means you might only get a percentage of your bicycle’s value if it’s stolen or damaged inside of your home or apartment.
Additionally, bicycle insurance policies (such as those offered by Simple Bike Insurance) won’t raise your premiums after you file a claim. Other rental and home insurance policies are likely to raise your rates when it comes time to renew if you filed a claim the previous term. For example, if you filed a claim because your bicycle was stolen from your garage last year, higher rates may apply when renewing your home insurance contract.
- Bicycle insurance also offers benefits that other policies don’t such as:
- Crash or collision damage
- Full-value coverage for your bicycle
- Coverage for cycling accessories, apparel, and riding gear
- Full electric bike coverage
- Event fee reimbursement
- Racing coverage
- Replacement bicycle rentals
- Roadside assistance in case of a flat tire or other emergencies
- Theft from work or other places other than the home
- Transit and travel damage protection
- And more
In short, cyclists buy bicycle insurance because it’s an affordable way to get comprehensive coverage. If you hold home or renter’s coverage, we recommend you check your home insurance policy to see what they’ll cover.
How much does bicycle insurance cost?
With Simple Bike Insurance, bicycle insurance policies start at just $100 per year. Your policy’s premium depends on things like how much you want to insure your bicycle for, and what type of cyclist you are.
To see your monthly or annual bicycle insurance cost, get an instant bicycle insurance quote now (it’s like an online insurance calculator). Simply enter in a few details, see your quote, and buy bicycle insurance easily online. If you have questions about your quote, bicycle insurance cost, coverage, or how to make a claim, just contact us.
Pro tip! Cyclists who belong to select cycling associations can sign up for coverage online and maximize their insurance discounts with 10% off.
Is it worth getting bicycle insurance for a cheap or used bike?
When you start an instant bicycle insurance quote with Simple Bike Insurance, we’ll give you the option to choose how much you want to insure your bicycle for, and tell us whether it’s new or used.
Whether your bicycle is new, used, cheap, or pricey, we’ve got a policy for you and it’s affordable. Cyclists who get instant quotes online can skip the time and hassle of comparing insurance quotes to save money.
We’ll calculate your quote based on some other details, but our basic policies start at just $100 per year. If you want more coverage, simply opt for our premium add-ons. If you want basic coverage, you can stick with our basic policy.
What happens if I make a bicycle insurance claim? Do my rates go up?
If you need to file a claim for a qualifying event, we won’t increase your bicycle insurance premium. Plus, it’s easy to file a claim online or over the phone.
Depending on what kind of claim you need to make, all you’ll need is your policy number, photos of the incident, a police report if necessary, a statement, and receipts for items that were stolen or damaged. For more information about filing a claim with us, check out our claims resources.
How do I buy bicycle insurance?
Easily build an instant quote online to see how much your bicycle insurance policy will be. You’ll have the option to review your quote and coverage before activating your policy, and we’re here to answer all of your questions. Here’s a quick step-by-step on how to buy bicycle insurance online:
- Start your instant bicycle insurance quote here
- Enter some basic information about you, your bicycle, and what kind of cyclist you are
- Review your quote and coverage options
- Pay online
We’ll contact you shortly after you purchase online to activate your policy and send over your policy documents. It’s easy, it’s fast, and our quotes are always free. Our team will have you back on the road (or in the mountains) with more peace of mind in no time.
Ensure you’re financially protected from loss, damage, and more with an affordable bicycle insurance policy today. We’re here to help you find the best insurance coverage that protects you from liability claims, total loss, and more.