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If you're away from home and have portable items cover on your policy, providing your bike is valued less than £750, the home insurance will provide cover for theft, loss and accidental damage. If your bike is valued more than £750, please make sure you let us know as we can specify it on your policy to ensure full cover is provided. Specialist insurance could offer additional extras cover such as public liability, personal accident cover and bicycle roadside recovery. If you crash into an object like a tree or car, you typically won’t be covered under a home, condo or renters insurance policy for the bike damage.
If your bike is stolen or damaged while away from your property, you're highly unlikely to be covered by a standard home insurance policy. Your home contents insurance policy may provide some protection for your bicycle as part of your personal belongings. However, you'll need to check the policy because it might not be complete protection. If you’re hurt, we'll cover some of your medical bills, up to the policy limit. This coverage pays to supplement the deductible of your personal health insurance policy.
High Value Items
From jewelry to collectibles, you may have more valuables than you realize. And your home insurance policy may not provide the coverage you need. Loss of use coverage can help pay your additional living expenses if you must move out of your home temporarily while it's being restored. For example, John Lewis and Saga only offer cover up to £500 in the event of a theft.
The same goes for lending your bicycle to someone else — many home insurers will not insure your contents that are damaged or stolen while being borrowed by someone else. If so, it's likely that your bike, which is included in your ‘contents’, will be insured. If you hit an object like a tree or car, your health insurance will cover your medical expenses. If the repairs to your bike are less than the cost of your deductible, you won’t be able to file a claim.
Bicycle insurance - Insuring your bike on your home insurance
To find the best bicycle insurance, a good place to start is with a policy you may already have. Your home, renters or condo insurance policy covers your bicycle for certain problems, such as theft and vandalism, up to your policy limit. Personal liability coverage can help protect you in the event of a claim. It also helps cover related costs if a legal suit is brought against you or a member of your household for bodily injury or property damage to others.
Velosurance offers liability coverage in amounts of $25,000, $50,000 or $100,000 per occurrence. Spoke offers liability coverage in amounts ranging from $25,000 to $100,000. Markel offers liability coverage in amounts that range from $25,000 to $300,000. Please allow additional time if international delivery is subject to customs processing. International shipment of items may be subject to customs processing and additional charges.
Home Insurance Deductibles and Limits
Some insurers specify that you use a security rated lock when you're out and about, or even on your shed. The security rating required will usually correspond to the value of the bike, but you must also consider the risk of where you leave the bike, and for how long. No lock is invincible, and the best can weigh up to a hefty 2kg. Log in to see your policy documents, keep tabs on renewal dates and check your cover level. With vehicle tax and breakdown cover included, it's the simple way to drive a brand-new car.
Everyone who works at Velosurance is an avid rider, so when you call us you are speaking to another cyclist who understands you and your bike. Take out our Defaqto 5 Star rated contents insurance today and receive £75,000 contents cover as standard, for an additional premium you can increase your cover up to £100,000. Bicycles within outbuildings are automatically covered for up to £750 each, unless they are specified on your policy. To specify a bicycle on your policy, please contact us as we may have additional security measures to discuss. It might be pricier than a home insurance policy add-on, but at least you know you're covered for most eventualities. “Once you’ve got your quote make sure you check your policy wording, so you know exactly what you’re covered for."
Property damage to others
Your insurance company may also reject your claim if they learn you were negligent, like if you didn’t properly lock up your bicycle in a public setting. Personal property replacement cost coverage helps cover personal property losses based on their replacement cost at the time of loss, with no deduction for depreciation. The coverage is subject to applicable policy limits and deductibles and special limits apply to certain items such as jewelry and watches.
Pet Insurance, Motorcycle Insurance, and Travel Insurance is not underwritten by Travelers or its Affiliates (“Travelers”). Travelers utilizes its affiliate, InsuraMatch, LLC, an independent insurance agency, to refer consumers interested in pet coverage, motorcycle and off-road vehicle coverage, and travel coverage. For more information about the underwriting entities click “Learn More” to be directed to the specific product page. A personal articles floater is a separate valuable items policy that is available should you need coverage or higher amounts of coverage for specific valuable items. Other structures coverage can help pay for covered damages to detached structures on your property like garages, sheds and fences.
Your insurance likely won’t pay out if your bicycle is stolen and wasn’t secured properly or if you can’t prove you own the bicycle. But if your bicycle is your regular form of transport or you have an expensive bicycle it could be worth considering. You will have to call us to add this to your home insurance policy.
For example non-competitive cycling events or competitive triathlons and time trials. Accessories cover- for items such as your GPS system, helmet or lights. This offers cover for theft and damage, or if someone vandalised them. You’re not covered if you ride your bicycle in a competitive event unless you’ve paid to add this to your policy.
Yourhome insurancemight already include your bicycle, or you could look for a specialist, more bespoke policy. Find out whether there is a single item limit, and whether you will be covered for theft of your bike if you leave it outside the home. If you're planning to get insurance on your bicycle then you will need to look at a few factors first to see what the best options are available to you. This includes the value of your bike, how often you take it out of the house and how you use it, and where you lock it up late at night.
Typically, you will want to have enough dwelling coverage to cover the estimated cost to repair, rebuild and replace your property. Typically, damage caused by floods and earthquakes is not covered by basic homeowner insurance policies. Optional homeowner insurance coverages and policies may be available to cover damage due to such additional threats. Check with your insurance professional for help determining what coverage may be best for your specific needs. If you have a very cheap bike, paying for cover may not be worthwhile as the cost of your insurance excess in the event of a claim may be more than the bicycle is worth.
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