Best bicycle insurance, including what you need to know and how to compare
Confused about two wheel insurance? Our guide should help you narrow down your search and work out what's best for you and your bike.
From scoot to school, ride to work, recreational spin, or a race-day steed, we would all be bereft if our bikes were stolen, crashed, or damaged.
While using one of the best bike locks can help prevent your bike from being stolen, it does not protect it from damage in a crash or other unexpected eventuality.
With the lowest-priced bikes now feeling like a pricy purchase, replacing a bike wouldn't be an easy option for most. That's why protection from one of the best bicycle insurance policies is a must-have for every cyclist.
We've gathered lots of helpful advice on how to choose the right bicycle insurance policy. To make life easier, we've partnered with Protect Your Family on an insurance comparison engine so you can compare all the deals and get your perfect match.
If you're curious and wondering about the 'do cyclists have to have insurance?' question, you'll be interested to know that it very much depends on geography and what you are using your bike for.
In summary, unlike car owners, cyclists aren't legally required to have any form of insurance, either personal or liable, in the US or the UK.
This does leave you vulnerable to out-of-pocket expenses if you unexpectedly need to replace your bike, kit, or even liable to third-party expenses if you cause damage while riding your bike.
There are two main ways to protect your bike and yourself: either through a specific bicycle insurance product or your home and contents insurance. Both options have pros and cons.
If you are thinking about insuring an electric bike, head over to our specific page dedicated to the best e-bike insurance for all you need to know.
The best bicycle insurance will cover your bike, you and others
Opting for stand alone can be the best bicycle insurance choice as you can tailor it to meet your needs exactly.
The most basic level will cover your bike for damage or theft, while a more bespoke protection plan will cover your family, all your bikes, as well as other people, as it's likely to also include liability cover as standard.
The best bicycle insurance can also protect you and all your kit on race days, compensate for cancellations or illnesses, travelling abroad, and even replace like for like - a must have when owning an expensive bike.
It's not unknown to forget about the extra height when driving under barriers and bridges.
Having personally had my first much-loved road race bike written off using the low-hanging obstruction vs. roof-rack method, I appreciate this level of holistic cover from the best bicycle insurance companies.
Thankfully, my story had a happy ending. I gained a replacement team bike that became my longertermer, but the cost of the damaged rack, the roof of the car, and fixing the overhanging neighbour's porch was a pretty big hit for the car drivers insurance policy.
The best bicycle insurance companies will give you a quote based on your personal circumstances, the bikes you ride, and the type of riding you'll be doing.
This means that if you are unfortunate enough to need to make a claim, the true value of your bike, kit, and out-of-pocket expenses will be reflected, unlike most home insurance policies, which have a nominal payout just for the bike, often significantly less than the cost of replacing like for like.
The best bicycle insurance will cover your medical bills as well as paying out for a damaged bike.
Again, from personal experience, the value of bespoke insurance cannot be underestimated. After handing my insurance company a £20,000/ $24800 bill due to a bad crash during a UCI race in China, which left me in a private hospital for a week. Thankfully, they settled the full amount without me even having to reach into my pocket to settle the bills in advance.
Sadly, I'd learned the hard way that failing to disclose all medical details to a previous insurance company left me with a very expensive invoice to settle alone. I'd fractured my clavicle while out on a training camp in Spain and simply forgotten to mention that I'd previously broken my collarbone when taking out the cover.
That time I didn't get a penny back from the hospital fees or early flight home. I'm also thankful for this day that I decided to return to the UK for surgery, rather than having it there and then in Spain, assuming I'd be covered by insurance.
Look out for multiple bike cover discounts on bike specific insurance policies.
In general, bicycle-specific policies offer great discounts, such as 50 percent on additional bikes or a multiple bike cover option, which can make them more cost-effective if you have a large bicycle collection.
Like home insurance, even the best bicycle insurance requires good theft prevention precautions and, if in the UK, a Sold Secure rated bike lock. However, it will probably cover bikes in more locations, such as a car or place of work. Some specific bicycle insurance will cover individual components, such as wheels, and also allow you to claim for clothing and accessories.
Secure home storage maybe a requirement of bike insurance.
One of the easiest ways to ensure bike protection is to add it to your home insurance, as this keeps everything neatly in one policy.
While this is probably the best bicycle insurance for people who like to keep things simple, you should never assume your home insurance covers your bike, even if using one of the best bike storage solutions. If it does, be sure to read the small print on what, where, and how much protection you are getting.
Many home insurance policies will provide some basic bicycle cover. However, they will likely have a maximum claim per item, which can be as low as £500. This wouldn't get you far if you were replacing one of the best road bikes.
The excess may be higher than for other household items, and if you have more than one bike, you may find that the total claim value is the maximum for all bikes. So check for policy extension options that allow you to insure your bikes for closer to their true value.
The T's and C's of most home insurers is the requirement of additional theft prevention measures for bikes, especially in outbuildings, e.g., sheds and garages (assuming outbuildings are covered), so make sure you have one of the best bike locks for the job.
Many also don't cover your bike while it's away from home or when someone else is using it, so you may find yourself out of pocket if it goes missing at the train station. Again, you may find that there are additional policy add-ons that will cover you for these areas, but you will have to pay extra. So, it's worth doing a price comparison against a bicycle-specific insurance policy.
Ensure your bike is protected when away from home.
Another important policy area to check for on home insurance is exactly what's covered by accidental damage and you should also check if it extends to your bike, either in the home or when riding.
Items that home insurance policies are highly unlikely to provide cover for are personal accident, bike damage at a mass participation event, such as a sportive or a race, and accessories, such as a bike computer.
Even if the value of your bike and all its accessories is minimal, therefore covered by home and contents insurance, the most important item to check your policy for is liability cover.
Some cycling club memberships, as well as British Cycling and Cycling UK membership in the UK, or USA Cycling membership in the States, will automatically provide liability insurance, but if you're not a member of any club, you need to ensure you have adequate protection.
The big things with whatever bicycle insurance you decide to opt are keeping up with your end of the insurance deal. In practical terms this means:
Security: All insurers will expect you to have secured your bike to the best of your ability with one of the best bike locks used as a minimum. Wherever your keeping your bike at home, it's important to ensure you team a lock with the best bike storage solutions, especially if it's in an outbuilding (garage, shed or otherwise). It's likely that you will be required to use an anchor lock that's cemented in. If locking your bike while out and about, you will need to ensure the frame is secured to a permanent structure, so it's worth looking if you've attached it to anything that can be unscrewed.
While rarely a pre-requisite for the vast majority of even the best bicycle insurance companies, it's worth looking in to purchasing one of the best GPS bike trackers, which can help in tracking down and recovering your bike if it does get stolen before you need to make a claim, although always notify your insurance company if you do attach one.
Pre existing medical conditions: If you've decided to select a policy with personal accidental cover ensure you're upfront with all your previous injuries and ailments. It's unlikely to up your premium but it can effect payout should you require to claim.
Notifying the insurance company of any changes: This can be anything from a new bike to a change of address (more one to remember if you've opted for a specific bike insurance).
Exclusions: You will have hopefully established everything you are and are not covered for when you finally decide on a policy, but it's worth noting that most insurance, whether home or bicycle specific, won't cover you for riding your bike for work (commuting too and from is fine), or if you are deemed a professional rider.
It is worth shopping around to get the best deal for you, as all insurance companies have unique selling points. There are several price comparison websites that help with the search process nowadays.
Price comparison websites are great for mass price checks, and mean you only have to enter your details in once. Protect Your Family's bike insurance comparison engine is an example of just enter your details and get a selection of policies to choose from.
There are also some independent brands which can be a good option if you are flexible with monthly outgoings. For example Laka acts like a community of cyclists who protect each other, with all cost of claims is split amongst members up to a fixed monthly amount around market rate (capped at the value of your bike) so your contributions are directly used to help other cyclists and in every given month you only pay for what is needed, so some months you pay nothing at all.
A broken Ridley bike
If you've already crashed your prized machine and aren't covered by insurance, is still hope at recovering some of the costs?
Cycling injury and bike accident claim solicitors often work on a no-win, no-fee basis with companies such as Cycle SOS and Alyson France, which specialise in cycling-related accidents. They can help you claim for anything from a pothole crash to a road traffic accident.
Paul Darlington, consultant solicitor, Cycle SOS has this advice when choosing a cycling injury and bike accident claim solicitor: "The most important decision is your choice of representation. It's vital that you choose someone who knows about bikes and cycling as well as the compensation system. Access to a helpline that can give specific advice on your crash is invaluable. If you are hurt, seek medical attention and report the accident to the police at the earliest opportunity; the law says all injury collisions have to be reported."
Do I need to have protection for even a really old bike?
As well as looking at the price comparison websites, it's also worth doing some basic spreadsheet maths at home.
"When we're looking at bicycle insurance, we think about what is the most likely scenario when we would or wouldn't want to claim" Says Rachel Sokal, experience rider and published cycling writer "for us that's is the house being broken into and more than one bike being stolen.
"To keep the premium down, we decided not to include our cheaper run around bikes as we would probably never claim for these as we would want to preserve our no claims discount.
" we also make sure that we have personal liability insurance to cover for any third party eventualities".
Will I get compensation for damage to my bike?
This really is in the fine print of the Terms and Conditions, and it's important to read even the best bicycle insurance small print.
We've covered lots about the differences between the two main types of insurance policies above, and speaking to riders there seems to be a mixed bag as what and isn't covered damage wise at home or away.
Specific bicycle insurance companies will provide protection for your bike away from home. You will be required to disclose if you are intending to ride the bike competitively, eg in a Sportive or race, as failure to do so may void your claim if that's where your gear gets damaged.
"I had a pay out on my home insurance for damage for wheels on a bike that was named on the house insurance" Said former road racer Marianne Streather, "I just add them as listed on the house insurance".
What home insurance is a lot less likely it cover is if you damage someone else's bike, or them. So if you do decide on the home contents insurance, make sure you also have Third party liability cover from elsewhere, as mentioned above.
