Top 5 Reasons Bicycle Insurance Is So Important

Whether you ride for fun, for exercise, or for competition, bicycle insurance covers you from start to finish.

Man with his hands on his bicycle's handlebars

Just like any other type of insurance, bicycle protection certainly has its skeptics. Why pay for a comprehensive bike insurance policy when you’re covered under renter’s or homeowner’s insurance? This is a great question but before you say goodbye to bike insurance forever, it’s important to know what you’d miss out on.

Reason #1: Premiums and deductibles are less than the cost of a new bike

New bicycles are expensive and range between a few hundred and a few thousand bucks. If something goes wrong, you’re on the hook for every cent in repairs or a replacement.

With policies starting at just $8 a month, cyclists can insure their bicycle at its full value. So if your bicycle goes missing or is involved in a vehicle collision, you don’t have to pay out-of-pocket for the whole thing.

Plus, Simple Bike Insurance lets you choose your deductible. Want a lower deductible? You got it! Want a lower premium? You got it! The choice is yours and it’s less expensive in the long run.

Reason #2: Other types of insurance won’t cover your bike at its full value

If your bicycle is stolen or damaged beyond repair, other insurance policies just aren’t going to cover the full cost. Renters, homeowners, and umbrella insurance might cover some of your bike’s value — but bicycle insurance will cover all of it.

In addition, bicycle insurance is built for cyclists. This means you’re covered under circumstances that those other types of insurance won’t. Bicycle stolen from your workplace? Covered. Involved in a downhill collision with another cyclist? Covered. Got an electric bike? Covered!

Person riding their electric bicycle to work

Reason #3: Claims are easier than you think

Auto and home insurance carriers can be a pain when it’s time to file a claim. So don’t be put off by your experiences with other types of insurance. Simple Bike Insurance puts cyclists first and we believe in no-nonsense claims.

We won’t keep you on hold for hours in hopes you’ll hang up, and we won’t leave your emails on read. Plus, we’ve put together a handy step-by-step guide on how to submit claims easily. It’s got everything you need to file a claim and get benefits dispersed ASAP.

Reason #4: Repairs can cost a pretty penny

Imagine your garage is broken into and someone tries to steal your bicycle In the process, the bike thief breaks the lock and damages your bicycle — and doesn’t take the bike after all. You’re on the hook for those repairs: broken chains, a slashed saddle, and so on.

Bicycle parts and accessories are expensive to repair and replace — even if just one goes missing. Saddles can cost upwards of a few hundred dollars and with a bicycle insurance policy, you can get it replaced in no time without shelling out some serious cash.

Person riding an electric bicycle in traffic

Reason #5: Peace of mind is priceless

To those who think bicycle insurance isn’t a great value, we’d like to humbly disagree because the proof is in the pudding. Millions of bicycles are stolen every year in the United States alone. Not to mention that bike thieves are targeting e-bikes and even just electric bicycle batteries. It’s a serious problem in the cycling world, and riders face injury and even fatality every time they ride.

Even if you don’t think you’ll ever need a bicycle insurance policy, the statistics suggest otherwise. And for coverage starting at just $8 a month, why sacrifice your peace of mind? For a cup of coffee each month, you get to rest assured knowing that your bicycle is covered in case of:

  • Theft
  • Accidental damage
  • Vehicle contact or collision
  • Spare part damage or theft
  • Crash damage
  • Liability
  • And more

You get so much, for so little — so why take your chances? Bicycle insurance is a specific type of insurance designed for cyclists and by cyclists. We’ve got your best interest at heart and know that our affordable insurance policies have saved the day more than once.

If you’ve just purchased a new bicycle, own an e-bike, or even have an old cruiser sitting in your garage, don’t wait. Get an instant bicycle insurance quote now and activate your policy before it’s too late.