Bicycle insurance is an essential tool for anyone that has invested a great deal of time or money into their bicycle, as well as for the cyclist himself.

Bicycle Insurance Coverage

In addition for covering the cost of your cycle and equipment, you will need to take on a policy to cover:

  • Damage to the bike caused by racing or travelling to events
  • Property that is damaged in the event of an accident
  • Damage to your car if towing your bike causes damage
  • Damage to someone else’s property if you have an accident

In any case, cycling insurance will need to be personalized to cover your specific riding circumstances.

Insurance For Your Bicycle

Bicycle insurance will protect you from losing out on your investment. Most policies are relatively inexpensive. Bicycle insurances will typically cover the cost of your bicycle, as well as your cycling equipment.

Like in every other insurance policies, bicycle insurances vary, depending on the range of situations they cover. There are policies that covers only your bike, while others that are also covering your cycling equipment and even the upgrades you have made to your bicycle.

There are cases when your benefits will not be paid in full if your bicycle is more than three years old or if you did not take precautionary measures to protect your bicycle (such as using a bicycle lock).

There are policies that will pay for your taxi ride home in case your bike was stolen or became useless, while others will pay your taxi fare only if your house is 5 miles or more away, and some would not pay your fare at all. As always, premiums may vary, depending on the range of situations they cover. There may be some situations where the cycling insurance would not be in effect.

Did you know that most bicycle insurance policies are only valid in the country of purchase?

Bicycle Insurance

If you frequently go on cycling vacations or attend overseas races, you not only need a regular bicycle insurance policy, but also a travel insurance policy.

A travel insurance policy will cover any injury sustained during your cycling trip as well as any loss of possessions which, by definition, includes your bicycle and cycling gear.

Cycling Insurances

Besides protecting your essential investment, cycling insurance can also protect you from liability should your bike be involved in an accident. Basically, most bicycle insurance policies cover third-party or public liability. This encompasses the cost of causing accidents or damage to public property and other road users, accidental damage to your own bicycle by either man-made or natural causes like fire, a stolen or damaged bike and taxi fare to get you home.

Special Cases

Insurance For Cycling Trips

If you frequently travel with your bicycle you may want to purchase travel insurance that will cover the cost of your bike while on your trip. This will help you get a replacement if it is lost, stolen or damaged while you are away from home.

Insurance For Public Events

If you are participating in a public event such as a race or triathlon you may need to invest in public liability insurance for the event. This type of insurance will prevent the sponsors of the race from being held responsible for any damage to public property, spectators or other participants that may occur during the event.

Bicycle Insurance For Kids

There are also insurers who give out special insurance policies that provide protection for children under the age of fifteen, professional cyclists and competitive cyclists, and those taking their bicycles outside their home country.

Bicycle Insurance For Extreme Cycling

The cost of your cycling insurance premium will vary depending on the type of cycling activity you are participating in. Mountain bikers, BMX bikers and downhill cyclists will usually pay higher premiums than road cyclists. However, you should still get a plan tailored to your specific needs even if it means a higher premium.

Where Can You Get a Bicycle Insurance?

Homeowners Insurance

Most bicycle insurance providers are found together with mainstream insurers that cover other aspects of a person’s life.

Just be aware that some providers who offer cycling insurance as part of your homeowners insurance are offering insurance policies that covers only your bicycle.

The idea is that if your bike is stored on your property it can be counted as part of the home contents, while you are determining the value of your home.

Even if you already have a special bicycle insurance, you may still need to list your bike on your homeowner’s policy to help your insurance company accurately evaluate the value of your property.

Special Bicycle Insurance

Cycling insurance is often offered through biking organizations or companies that offer specific types of vehicle insurance. These policies will typically focus on covering the cost of your bicycle, giving you the opportunity to replace it should something go wrong. Policies that list your bicycle as a vehicle can also be expanded to cover any potential damage or injuries that could be caused by your riding. These will often be added on as a liability clause, protecting you from the legal responsibility of taking on any medical expenses or legal fees that stem from the incident.