What Does Bike Insurance Cover, and Do I Really Need it?

As an avid rider, you’re well aware that bikes can cost a pretty penny. It doesn’t matter if you’re riding pavement, chunky downhill trails, gravel, or just your local bike path. Bikes are a huge investment, and like all nice things, bad stuff can happen to them.

Until recently, most cyclists have relied on their home or renters insurance policy to protect their bikes from common losses, like theft and damage during travel. But a lot of people don’t realize that these policies typically offer less coverage than you think.

If you really care about your bike, the best solution is to buy a standalone bike insurance policy. Bike insurance may provide a higher level of coverage than the insurance policies you already have, and it covers the things you’re most concerned about.

What’s included with a bike insurance policy?

Every bike insurance policy is slightly different. Simple Bike Insurance, for instance, covers many of the situations (we call them perils) that you might experience as a cyclist and bike owner. Here are some of the major categories that bike insurance might cover.

Collision damage

Everyone loves a gnarly collision video, but you won’t be laughing if your frame gets bent or your downtube cracks. Not only will you be hurting, but so will your wallet. Fortunately, bicycle insurance covers your bike’s repairs after a collision. Typically, any type of crash is covered, whether you collide with another rider, get hit by a vehicle, or crash into a telephone pole. Simple Bike Insurance will even cover the cost of a rental bike while yours is in the shop.

Liability and medical payments

Speaking of collisions, bike insurance also covers your liabilities as a rider. So, if you cause a crash and the other person gets seriously injured, or if you damage their property, your liability insurance will pay for their losses. Another thing that’s included with most bike insurance policies is medical payments coverage. This is a policy that covers your medical bills if you get hurt in a bike accident. It will pay for things like x-rays, an ambulance ride, and physical therapy.

Roadside Assistance

Much like car insurance, many bike insurance policies include roadside assistance. While you probably carry the basic tools needed to patch a tire or reattach your chain, sometimes you’re not as prepared. If your bike insurance policy has roadside assistance, it will cover things like flat tire changes and quick fixes, like replacing a tube. Keep in mind that roadside assistance sometimes costs a few extra dollars per year on top of your standard premium.


Bike thefts are on the rise, which is one of the best reasons to invest in bike insurance. A study from Bike Index shows that in 2020, there were 96,583 stolen bikes reported, which was up 24% from the year prior. The good news is that bike insurance covers theft at home and while you’re traveling. If your bike gets stolen, your insurance policy will help cover the cost of a new one of similar value.

Gear and accessories

If you’re a serious cyclist, you need to have the gear to match. Bike insurance typically covers accessories, gear, and even apparel. So, if you crash and rip your favorite jersey, you can probably file an insurance claim to have it replaced.

Spare parts

Having spare bike parts laying around can be helpful if you work on your bike at home. If your spare parts are stolen, or if they get destroyed in a house fire, for example, your bike insurance company will help you replace them.


Competitive cyclists will be glad to know that most bike insurance policies cover you and your bike during races. If you collide with another rider and one of you gets injured, your policy will cover your medical costs and the other person’s losses if you were at fault. Your insurance carrier will also pay for your bike’s repairs if it gets damaged in a race. Simple Bike Insurance policies also cover event fee reimbursement, so if your bike gets damaged during travel and you’re unable to compete, you can get back what you paid.

Travel and transit damage

The last category of perils that bike insurance will cover is travel and transit damage. Whether you strap your bike to a roof rack or ship your bike across the country for a bike packing adventure, your bike insurance policy will cover the bike and any damage that occurs during transit.

What’s not covered by bike insurance?

Bike insurance policies are pretty comprehensive, and much more so than your standard home or renters insurance policy. However, it doesn’t cover everything. Here are some of the things that a bicycle insurance policy typically doesn’t cover:

Another thing to know is that some types of bikes may not qualify for coverage. This is usually only the case with ebikes, though.

For example, Simple Bike Insurance only insures ebikes with a motor that doesn’t exceed 750 watts and that doesn’t use an auxiliary power source. As long as the speed doesn’t go over 20mph without power assist, we’ll cover it.

Who needs bike insurance?

Pretty much everyone who owns a bike they love and care about should consider having bike insurance. This is especially true if the cost of repairing or replacing your bike out-of-pocket gives you financial anxiety.

Although you might have renters or homeowners insurance already, you shouldn’t necessarily rely on those policies to protect your bike. Home insurance usually offers more personal property coverage than renters insurance, but there’s no guarantee that your bike will be fully covered. Plus, depending on your policy, the coverage limits could be lower than you think.

Here’s what I mean. Let’s say you just sprung for a Tern HSD S11, with a sticker price of around $4,500. If your apartment unexpectedly burned down (taking your new ebike along with it), your policy might only cover your bike up to $1,500, leaving you to pay for the rest.

Even if your home or renters insurance policy will cover your bike in full, it definitely won’t cover things like roadside assistance, rental bikes, and competitions. If you want those perks, you’ll need to get a separate bicycle insurance policy.

Simple Bike Insurance makes it easy to insure single bikes and multiple bikes. We insure every brand, including many ebikes, with flexible plans and deductibles. You can get a quote online and purchase a policy in minutes. We’ll get you covered and back on the bike in no time.

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