Looking for the best cycle insurance deal? Just like renters and homeowners insurance, these policies will cover you for theft, damage, and more, but they’ll also cover the cost of emergency situations on bike courses, as well as medical expenses that result from bike … Choosing an ebike insurance policy largely boils down to the practical considerations of ebike ownership and how easily a policy will work with these. Bicycle insurance can be worthwhile if you use two-wheeled transportation to commute or run errands. If you are in any doubt about whether the location where you plan to store your bike is covered, just ask. If you’re involved in a bike accident and you have health insurance, the injury is handled in the same way as a non-cycling injury. Already have an account with us? From personal protection and third-party liability through to covering … Velosurance is a national bicycle insurance agency founded by two cyclists in response to the insurance needs of bicycle riders nationwide. My bike lock is the best on the market, and I’m smart about where I store my bike — it won’t ever get … Be sure to include any add-ons or upgrades you’ve bolted on to your ride. These are called covered perils on your policy. Most providers will cover your bike within your home, but pay attention if you plan on storing it in an outbuilding or garage – Bikmo, PedalSure and Yellow Jersey have clear policies here and, unlike some other providers, these outbuildings can include lockable wooden sheds. The risks for recreational fitness riders differ from those for a bicycle messenger service weaving through city traffic. Jack has been riding and fettling bikes for his whole life. Choosing the best bicycle insurance with travel cover depends largely on the type of trip you’re planning. Have been considering them for a while. Specialist bike insurance is your best bet if you want to cover all eventualities relating to both theft and injury. Coverage for your bike. Subscribe today and get the next 3 issues of your favourite cycling magazine for just £5! When we originally wrote this article in 2018, none of the home insurance providers we spoke to replied to our questions, so our suggestions are based on specifications, user reviews and recommendations from our readers. Would you be better off taking out short-term cover for a specific event? Bikes can be a big investment that, once made, are worth protecting. Cyclists still need to be mindful of deductibles. A product that offers generous coverage for events may seem tempting, but is it the best option if you only do a handful of races in a year? On the other hand, if you just fancy pootling around Mallorca with your mates, but want to be certain that you’re covered if your bike is damaged in transit or stolen from your lush villa, a more simple plan from any number of specialist providers will suit you well. Does the bike need to be secured to an immovable object or ground anchor inside? However, most contents policies will not cover expensive bikes, or when you take them away from home, unless you pay extra. Mountain bikes, pushbikes, road bikes, folding bikes, hybrids and electric bikes are all usually covered. In 2012, Velosurance partnered with Markel, an international specialty insurer, to provide coverage designed for cyclists, including coverage for electric bikes (up to 750 watts). Accidents can happen, even for the most cautious riders. One difference in coverage is apparent when an automobile is involved. The maximum insurable value may seem like an obvious figure to look at, but few of us actually own £15k super-duper-bikes, so weighing up how, where and in what condition a provider insists your bike be stored are the things to look at. Bicycle Guider is a registered trademark. Since 1 May 2019, British Cycling bike insurance has been provided by Bikmo. Insurers will expect you to do your due diligence and failure to do so could sting when you make a claim. But you may already be covered by other policies. Save 40% on an Aquarius Bluetooth speaker! Need extra safety for self-defense? Our trained and licensed insurance professionals master the intricacies of your bicycle business and aggressively negotiate the right bicycle insurance for you at the very best rates. Wear items, like tires and brake pads, aren’t covered. Bicycle clothing, however, is paid based on a depreciated value in a covered claim. Consider how often you use your mountain bike. Dave Williams, CEO and co-founder of Velosurance, estimates the cost of a basic policy to be about 7 to 8 percent of the value of the bike. This caveat is an example of the sort of thing you should pay particular attention to when comparing providers. No-one wants the pain, damage and admin that comes with an accident. Once your coverage limits on your auto policy are exceeded, then your health insurance coverage takes over. The trouble with bicycle insurance in the past — and insurance for cyclists — is that there hasn’t been a complete solution. More information on Velosurance.com or on HealthIQ.com. Additionally, if you have repeated claims for miscellaneous biking mishaps, you can expect to be shopping for a new home insurance company — if you can find one that will insure you. With this in mind, the terms of policies from the biggest providers have become increasingly generous, driving competition. All three provide comprehensive coverage against theft and damage inside and outside of the home, but all have varying degrees of coverage for use during competition. ... To find the best renters insurance … There have been a number of unpleasant high-profile cases involving cyclists hitting pedestrians. Deductibles — your out-of-pocket costs — range from $100 to $500 with a $300 deductible option providing an attractive balance between affordable premiums and reasonable out-of-pocket costs. ... We use cookies to give you the best … We have worked with a number of leading insurance suppliers to offer BikeRadar readers a selection of exclusive discount codes and deals. Marks and Spencer Bank, Aviva and Hiscox insurance were the three providers that were most regularly recommended. To pick … As a bonus, coverages for your bike that aren’t available through your auto or home policy can be added to your bicycle policy. Other add-ons could be useful for road cyclists, too. Home insurance policies usually have a high deductible. Let me know on [email protected]. If you ever find yourself in the unfortunate position of having to make a claim, you’ll be glad to have gone through the motions and done your research in advance. Nonetheless, it’s an interesting option and worth requesting a quote to see if the cover offered suits your needs. Other dedicated insurers will offer more broad coverage, including, in some cases, replacement bike hire, event cancellation cover and more. We are licensed in every state of the US and have access to nearly every insurance company, thus we have constructed several insurance … Choosing the best bicycle insurance with travel cover depends largely on the type of trip you’re planning. Whether you're mountain biking, or riding on … This is of particular note if you, for example, travel overnight and leave a bike at a train station. Regular, plain ol’ boring, vanilla home insurance is, by far, the most popular way to insure a bike against theft. Velosurance’s coverage is good in Canada as well — with no extra charge, but you’ll have to forgo roadside assistance when cycling in The Great White North. The auto-insurance-first structure of medical coverage for auto-related injuries creates a risk of double deductibles if you have a low coverage amount for your auto policy. However, in comparison, some professional specialized bike insurance policies may include coverage for personal injury, You just need to decide if you already have that coverage through your health insurance, or a personal accident policy instead. For more info, it’s best to consult its extensive FAQs. Bike theft is also on the rise, with an estimated 1.5 million bicycles stolen in the U.S. each year, only a small percentage of which are ever recovered. DO NOT BUY VELOSURANCE. By entering your details, you are agreeing to BikeRadar terms and conditions and privacy policy. In paper they look good but they will do anything on their power to avoid paying. It’s particularly popular for race and event cover, offering cancellation cover of up to £750. *(51% of customers with a bicycle valued up to £1,500 who obtained a quote for bicycle insurance through this service provided by Quotezone between January and March 2020 were quoted less than £47.11). As with all of our suggestions, it will likely come down to cost and what other benefits each package may offer you. A guide to specialist bicycle insurance, Best bike lock 2021: D-locks, foldable locks and chain locks rated, Best bike storage ideas: a buyer’s guide to storing your bike indoors, Insurance policies are just like bikes – what might work for one person may not be the best option for another. Despite this, many still choose to insure their bikes this way, and if you’re after a simple and often cost-effective policy for a cheap bike, it can be a good option. Only some policies cover bike storage in lockable wooden sheds. Fair enough, clothing is used merchandise with only a fraction of the bike’s value. If you need to make a claim, it’ll reflect the true value of the bike. Any additional information? Again, premium policies from most insurers work well in these circumstances, with pretty much all of the coverage you’d expect to have at home extendable overseas for a premium. That’s an incredibly simplified roundup of how Laka works. It’s hard to give a definitive answer here, but looking across user reviews and working off of policy specifications, Laka presents an interesting option. It is a free resource page about bicycles, founded in 2015 by Jeff Balton. ... One of the best parts of cycling is the freedom, but this freedom sometimes can come at a cost. These two companies are taking impressive strides when it comes to insurance for cyclists. If you’re riding a self-built custom bicycle, you can get insurance for your bike’s unique specification. Choose a policy that offers the right level of accidental damage cover for you. Basic coverage for the bike itself is the policy choice with the lowest premiums, but Velosurance also provides some policy options to help fill potential gaps in coverage: With the ability to choose your own coverage limits and options, your policy is as affordable as you need it to be. Our bicycle insurance is for the everyday cyclist, get a free quote today. Taking into account any excess to be paid, any additional extras that a policy provides and user reviews are also important factors to consider. A cheap electric bike can cost somewhere around $1000 and an expensive electric bike can cost up to $15,000. Chances are good that your personal property (including the bike) aren’t covered for the full cost of replacement. When you buy through links on our site, we may earn an affiliate commission. This makes Bikmo and its leniency around outbuildings and cycle hangers a tempting option (more on this below). Such expensive price tag make your e-bike … Don't miss out on MBUK – get your next 3 issues for just £5, Get the next 3 issues of the UK's number one cycling magazine for just £5. Theft coverage comparison is included in our insurance comparison tool, and is your best bet to make sure you’re getting the coverage you need. Cycle insurance is one way to make sure you’re covered for every eventuality. If you store your bike outside, keep an eye on the small print here: are wooden sheds included, or does the shed have to be metal? Ebikes are also often an individual’s second bike (though that situation is changing as many turn to using them as dedicated commuting bikes), so it’s worth shopping around to see who offers the most generous multi-bike discount. Velosurance is simply trying to save you money if it’s possible that you’ve duplicated coverage. Depending on the reason for the insurance claim, the bike itself might be partly covered under a home insurance policy or a renters insurance policy —  but there are some issues with this approach. Relying on home insurance or renters insurance can provide some protection — but frequently only a fraction of the loss — and the risk of higher rates when placing a home insurance claim is enough to make any cyclist think twice about even using the coverage. Read our guide on how to compare cycling insurance and get the right cover for your bike. Can you help me understand how theft works? If you hit the trails regularly, shop around for a deal that offers good cover for personal injury protection and coverage for things such as dentistry and physiotherapy – accidents do happen out there. It doesn’t matter how vigilant or good at riding you think you are, we can all get caught off guard by someone else’s mistake. Because the needs of cyclists differ, you can build a customized policy that provides only the coverage you need, without paying for any extras you don’t need. In the end, you’re the customer and can purchase the coverage you choose. All insurers will offer third-party coverage to a certain degree, though how much and under what circumstances depends on the insurer. If you don’t regularly make a habit of locking your £8,000 superbike outside the pub, do you really need to plump for additional theft coverage? Crashes may not be covered. All of the providers we spoke to will cover a second-hand bike. In the coming years, we expect even more companies to rise to the challenge and provide innovative insurance solutions for the cycling community. Worldwide coverage is available as an add-on for an estimated 10 percent increase in premium. If you’re familiar with insurance, you’ll know the deductible is the part of the claim you pay. Don't buy double insurance … Compare the best bicycle insurance: how to find the right policy for you, check out our bike insurance comparison tool that we’ve developed with QuoteZone, Everything you need to know about electric bike insurance, “must not be visible to the General Passing Public and or visible from outside the building”, turn to using them as dedicated commuting bikes, Buying a bike on finance: everything you need to know, Best road bikes: how to choose the right one for you, Best mountain bike: how to choose the right one for you, Best commuter bike | What’s the best bike for commuting, Cycle to Work scheme: everything you need to know about buying a tax-free bike, Improve your bike shed security whatever your budget. Simply put, a riding mishap can hurt someone else physically — or cause damage to their belongings, including cars, other bikes, signs, or anything else you might bump into with your bike. If you’re doing a tour or sportive abroad and want to be covered for your travel costs up to £5,000 and entry fees up to £300, but equally aren’t fussed about theft or accidental damage cover, Cycling UK’s (Cyclecover) policy may work for you. If you have an auto policy, why pay for the same coverage twice? Unlike auto insurance, which — with the exception of collector-car insurance — depreciates the value of the vehicle and lowers the coverage amount over time, Velosurance provides full replacement cost coverage. Thanks! Bicycle Guider has gained more than 8,000,000 readers and has sold more than 400,000 cycling related items so far, with the support of, ©2021 Bicycle-Guider.com - Comprehensive Bicycle Guide for 2021, Bicycle Guider is a registered trademark. For example, Sundays requires that any bike “must not be visible to the General Passing Public and or visible from outside the building”. Almost all require bikes to be secured to an immovable object. 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