Buying a bike can be a big investment, depending on your skill level/type of cycling, your bike can be worth as much as a car. With road accidents and theft on the rise, it’s worth ensuring you have the best bicycle insurance before any accidents or theft take place.
Throughout this post, we’ll explore your different bicycle insurance options, and how you can get the best deal for you.
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Selecting the best bicycle insurance
- One key factor to remember when selecting your insurance policy, is that they aren’t universal, what might be best for one person and their set-up might not be the best option for you.
- Ensure you know where your bike is stored. This is critical, as you don’t want to be refused cover, or even worse, refused payment during a claim. Bike insurance companies take storage seriously, and many will often only insure you if you keep your bike locked away in a garage or outhouse. Almost all require you to secure your bike to an immovable object.
- Some insurance companies will offer generous cover to lure you in, but consider if this is the best option for you. They can get pricey, and if you are only participating in a handful of races, or only ride with buddies a few times a year maybe short-term cover would work and save you some money.
- Determine how much your bike is worth, and make sure to include your aftermarket components if you like to customise your ride. Ensure it’s accurate as this is what will be paid out in the case of a bike theft. If you don’t regularly leave your £12,000 Aero bike unlocked outside of the pub, do you really need that additional theft insurance? It’s all situational.
- Always read the fine print. A lot of it will be standard insurance jargon, but occasionally you might come across something that puts you off, or makes you want to buy particular insurance coverage.
Best Road Bicycle Insurance
There is no doubt that road cycling brings along additional dangers that other forms such as Mountain biking don’t. When you are speeding down a MTB trail, the trees don’t move, but when you are speeding down a winding road, the cars and pedestrians do, and sometimes in your direction.
And, no matter how good you are, sometimes in uncontrollable situations you are at the mercy of someone else’s mistake on the road.
So whether you head out on long rides over the weekend or commute to work, getting road bike insurance is a really good idea to protect against injury, theft, accidental damage and fee coverage.
Most insurers include common coverage such as accidental damage, theft, 3rd party liability cover, and personal injury coverage. But, ensure to read through every benefit as some will be more important to you than others.
Insurers such as Bikmo, Yellow Jersey, and Velosure even offer roadside recovery similar to what you get with a car. They can take you home or to a local bike shop in the event of a crash/damage.
Bikmo also offers 365 days worldwide coverage – handy if you want to cycle abroad. And, Yellow Jersey even offers a DNA marking kit, which allows your bike to be traced bike to you via your DNA code in the event it is stolen
In short, all insurers are going to have something for everyone, and a few key points of one policy will make the decision for you. Using a handy comparison tool from QuoteZone, you can quickly compare a range of insures and ensure you get that much needed bike insurance quicker.
Best Mountain Bike Insurance
The top of the range mountain bikes can easily cost upwards of £10,000, so finding out that you have cracked your frame on a new trail run, or coming home to find that it’s been stolen can be a massive financial burden.
Why not have the peace of mind that comes with an insurance policy, especially for a piece of equipment that can cost more than a car?
One of the main considerations you should ask yourself whilst buying your insurance, is how do you use and store the bike?
If you only get out a couple of times a year, and the bike is stored securely inside of a locked garage, perhaps only a lower-tier insurance policy is needed.
But, if you are frequently tearing down trails, and travelling a lot with your bike, looking into a policy with comprehensive injury and theft coverage will help offset some of the worries you might have.
We did say that road cyclists have moving cars and people to deal with. But, they also aren’t heading down super muddy, icy and uneven trails.
3rd party cover is arguably more important in road cycling, in the event that you hit someone else. But, certain health coverage such as dental and physiotherapy might be more beneficial to a MTB rider.
And, accidental coverage is arguably more important whilst mountain biking. All bike frames can bend and crack when you come off them, but it’s more likely when you are hurling into a big boulder or tree.
Instead of spending hours reading the fine print of every single insurer out there, we recommend using a handy comparison tool such as QuoteZone. It makes your life easier, and allows you to be insured quicker.
Bike Insurance By Cover Type
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Best Bicycle Theft Insurance
Bike theft is a common concern amongst consumers. Especially, when some bikes cost upwards of £12,000. But, no matter what the price of your bike is, you want to ensure it is protected against theft.
Insurance is key here, but also knowing how to avoid bicycle theft is very important.
Most bike insurance companies will cover your bike within the boundaries of your home, but there are some exceptions. Pay attention to the policy wording as some require you to keep it locked away indoors, whereas others allow you to store your bike in a secure out building, such as a lockable wooden shed.
Your bike can be protected from theft away from home, but you have to comply with the insurers locking policies. Unfortunately, failing to comply with this is the main reason bike theft claims go unpaid.
If you store your bike away from your home in a bike hanger, insurers such as Bikmo will cover this. Handy if you don’t have the room at home to store your bike.
Similar to all of our other suggestions, the cover you need really depends on… well, what you need. Using a simple tool such as QuoteZone allows you to rapidly compare bike insurance, and lists the key features of each.
Best Bicycle Insurance With Event Cover
If you plan on racing in events, it might be worth opting for an insurance policy with event/racing cover.
There are many different types of racing events you can attend, and not every single one will be covered with a generic policy.
Bikmo provides British Cycling cover, that covers you for all types of cycling and events. It has a 98% claim approval rating, and covers for event cancellation up to £500. You can also add in personal injury and accidental damage cover.
If you are planning on racing abroad, then event cover, and a policy that also covers travel costs, and bike theft abroad would also be worth looking into.
As with most insurers, there will also be a whole bunch of other options to consider, so ensure to use a tool like QuoteZone to quickly compare different insurance deals.
Bike Insurance FAQs
What is the best cheap bike insurance?
It’s difficult to give a definitive answer on the best cheap bike insurance as there are so many variables that affect the cost, from the level of cover needed, the cost of your bike, how you store it, where you live and so on.
There are many bicycle insurance companies offering basic cover from as little as £3-5 per month. You can use QuoteZone to find the best option for you, but remember to always read the small print as you don’t want to be hit with unexpected fees such as high excess charges because you chose the cheapest option based purely on price.
Can you insure an E-bike?
Yes! E-bikes can be covered with most insurance companies. The cost can vary widely based on your requirements, but it’s typically more expensive than insuring a regular bike due to the increased cost, and that it’s more difficult to store an E-bike inside due to the weight and size.
Always double check your insurance covers E-bikes, or is specifically designed for E-bikes to avoid not being able to process a claim.
Is bicycle insurance worth getting?
We fully believe that bicycle insurance is worth getting. Whilst it’s not a legal requirement to insure a bicycle, like it is a car. Your bike can be a huge investment in both time and money. The last thing you want is for bike theft or accidental damage to take place.
And, whilst we all consider ourselves safe and responsible riders, you never know when an accident to yourself or a 3rd party might take place. It’s best to be covered for injuries and legal costs if you are ever unfortunate enough to end up in his situation.
Does my home insurance cover my bike?
We can’t speak on behalf of your home insurer as the decision will ultimately rest with them. But, generally if your bike is at home when it is stolen it will be covered under home insurance. But, that doesn’t mean you shouldn’t insure your bike. You still want to be covered for theft, accidental damages and injuries to yourself and third parties.
Can you insure a second hand bicycle?
Most insurers will also insure second hand bicycles, but always read the fine print or ask the insurer before you purchase. You almost always get the same cover, but be wary that some insurers will factor in the price of your bike depreciating over time. So if you bought an expensive bicycle second hand, you might not get paid the retail value in the event of an accident or theft.
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