Is my bicycle covered by insurance? | finder.com

Compare bicycle insurance

Compare your options to find out which is best for you.

Men riding bicycle on the road

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Do I need bicycle insurance?

It depends on how much your bike is worth and whether or not you’re already insured through a home and/or auto insurance policy.

Home insurance and car insurance both come with some level of protection for cyclists, which means that a separate bike insurance policy isn’t necessary for most casual cyclists.

What does my car insurance policy cover?

If you have medical payments coverage or personal injury protection as part of your car insurance policy, it can also help to pay for your injuries and medical bills if you’re hit by a car while cycling. But keep in mind that these are often optional coverages, so check your policy to find out exactly how you’re covered.

What does my home insurance policy cover?

If you have home insurance, you may already have coverage for your bicycle. Home insurance will generally cover your bike if it’s stolen or damaged in specific situations, like if it falls off your car’s bike rack. But check your policy for any limits that may apply.

If you want more extensive coverage that can repair your bike if it’s damaged after an accident, like if you run into a tree or hit a curb, you can add your bicycle to your policy as a scheduled item. This covers the full value of your bike if it’s damaged or lost, and offers more protection for expensive bikes.

When is specialized bike insurance a good idea?

If you don’t have home and auto insurance, you can cover your bike with a specialized bike insurer like Velosurance.

You may also want to consider a specialized insurer if you ride competitively. Specialized insurers can offer coverage for spare parts, expensive race clothes and race-worthy rental bikes so you don’t have to miss an important event. And if you do miss a race, you can be reimbursed for your entry fee.

Compare car insurance policies that cover bikes

Name Product Roadside assistance New car protection Accident forgiveness Safe driver discount Available states
Optional
30%
All 50 states
Save up to 31% with safe driver discounts and bundling all your rides in one convenient policy.
Optional
49%
AZ, CA, IL, NJ, OR, PA, VA, WA
Only pay for how much you drive with the Metromile app. Get rates from $29/month plus pennies per mile.
Optional
30%
All 50 states
Enjoy premium perks like better car replacement and accident forgiveness plus local agent support.
Optional
Optional
55%
All 50 states
Get free quotes from top insurers for the exact coverage you need in minutes.
13%
All 50 states
Enjoy having your own dedicated agent to help you get the best discounts and coverage.
52%
AZ, AR, CO, CT, DE, GA, IL, IN, IA, KY, LA, MD, MI, MS, MT, NE, NM, ND, OH, OK, OR, PA, SC, TN, TX, UT
Root offers simple, affordable insurance that’s ideal for good drivers. Try the Root app for 2 weeks and see how much you could save.
Optional
26%
All 50 states
It's quick and easy to get an online quote with Geico, and you might be surprised at how much you could save.
Optional
Yes
All 50 states
Drivers over 50 and AARP members enjoy special car insurance pricing and benefits.

Compare up to 4 providers

Compare home insurance policies that cover bikes

Name Product Flood coverage Fire coverage Storm coverage Replacement options Available states
Replacement cost, actual cash value
All 50 states
Protect your home and auto insurance with Progressive to save a bundle.
Replacement cost, actual cash value
All 50 states
Protect your home and belongings and save even more by bundling insurance with Allstate.
Actual cash value
All 50 states
Invest in affordable insurance that protects your home and your property from damage no matter where you live.
Gabi home insurance
Gabi home insurance
Replacement cost, actual cash value
All 50 states
Get free quotes from top insurers for the exact coverage you need in minutes.
Replacement cost, actual cash value
All 50 states
Save big with Geico's home insurance discounts and bundling, all with easy online management.
Replacement cost, actual cash value
All 50 states
This online marketplace does most of the work for you, matching you with quotes from 12 highly rated home insurers.
Replacement cost, actual cash value
AZ, CA, CT, DC, GA, IL, IN, MD, MI, NV, NJ, NY, OH, OR, PA, TN, TX, VA, WI
Enjoy straightforward pricing, transparent flat fee from this completely digital insurer.
Replacement cost, actual cash value
All 50 states
A full range of home coverages and products Value-added features are built in to each home policy Three highly customizable packages as a starting point
Replacement cost, actual cash value
All 50 states
Enjoy great rates and wide coverage with USAA. Available to military members and family.
Nationwide home insurance
Nationwide home insurance
Replacement cost, actual cash value
44 states (available everywhere except AK FL HI LA MA NJ & NM)
Allied home insurance backed by Nationwide offers tons of discounts and one-on-one support from your local agent.

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Compare renters insurance policies that cover bikes

Name Product Flood coverage Fire coverage Storm coverage Available states
All 50 states
Protect your rental home and belongings and save even more by bundling insurance with Allstate.
All 50 states
All 50 states
Policygenius' online marketplace does most of the work for you, matching you with quotes from 12 highly rated home insurers.
AZ, AR, CA, CT, DC, GA, IL, IN, IA, MD, MI, NV, NJ, NM, NY, OH, OR, PA, RI, TN, TX, VA, WI
Lemonade's amazing coverage protects the stuff you own at home and everywhere else.
Geico renters insurance
Geico renters insurance
All 50 states
Geico partners with Assurant to protect renters for as little as $16/month.

Compare up to 4 providers

What can insurance protect against?

Insuring your bike through your home insurer or a specialized bike insurer can provide coverage for:

  • Theft. Both home insurance and bike insurance can reimburse you if your bike is stolen.
  • Damage. If you hit a rock on a downhill trail or take a turn too fast, your insurer can cover the cost of repairing or replacing your bike.
  • Loss of equipment. A good bike insurance policy will not only cover your bicycle, but your equipment too. And let’s face it, some of the gadgets and gear you’ve got for cycling won’t be cheap to replace. So, consider everything that could be damaged during an unforeseen accident, from GPS and traffic cams to clothing and footwear, and check with your insurer to find out exactly how you’re covered.

How can I save on my bicycle insurance?

To get the best deal when insuring your bike:

  • Consider your coverage needs. Decide whether you want to stick with basic home insurance, add your bike to your home insurance policy as a scheduled item or purchase a separate bike insurance policy. Think about how often you use your bike, where you ride, how much your bike is worth and whether it’s likely you’ll make use of all the add-ons offered by specialized insurers.
  • Compare and contrast quotes. If you’ve already got home insurance, contact your provider to get a quote for adding additional coverage for your bike to your existing policy. Then compare the extra cost with bicycle insurance quotes from specialized providers.
  • Check for discounts. Check with your top insurers to find out if you’re eligible for any discounts that might help lower the price even more.

Things to consider before you buy

Before you buy bicycle insurance, ask yourself:

  • Do you really need it? If your bike only cost a couple hundred dollars, you may end up paying more for your policy than you did for the bike in the first place.
  • Do you have home or renters insurance already? If you do, contact your insurer to find out what coverage you already have.
  • Do you cycle competitively? Find out how it’ll impact your coverage if your bike is damaged in a race.
  • Deductible. Check how much the deductible is — and make sure you can afford to pay it if your bike is damaged.
  • Replacement value. If your bike is a total loss, will you get your bike’s replacement value or its actual cash value? While the former will pay out enough for you to buy a new, comparable bike, the latter will only pay you what your bike would be worth if you sold it on the market today, factoring in age and depreciation.

Bottom line

If you have an expensive bike, adding extra insurance can help protect your investment. While specialized bike insurance is available for competitive racers, most casual cyclists can save money by adding extra coverage to their home insurance policy. And if you don’t have home insurance yet, compare insurers to find one that’s the right fit.

Frequently asked questions about bicycle insurance

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