Bicycling is gaining popularity as a source of transportation as well as a recreational sport and form of exercise. People are willing to spend ranging from a few hundred dollars to several thousand dollars for a high-quality bicycle.
Bicycles are insured as personal property under your typical homeowners insurance policy. If your bike is damaged or stolen as a result of one of the risks listed in your policy, you will be reimbursed under these conditions. When you acquire a new bicycle, preserve the receipt and add it to the inventory of your personal belongings that you keep at home. If it’s very expensive, you might want to consider adding an endorsement for extra protection.
Accident between two bikes
When you’re at fault: If you’re riding and collide with another biker, your homes or renters insurance policy’s personal liability coverage may pay the cost of the other rider’s injuries and property damage. Your health insurance might cover your personal injuries. If you’ve added a particular insurance rider to cover your bicycle on your policy, the cost of repairing or replacing your bike may be covered by your home or renters insurance.
If another rider is at fault in a bicycle-on-bike accident, your injuries and bike damage may be covered under their personal responsibility coverage on their homeowners or renters insurance policy.
Accident between a bicycle and a motor vehicle
When the cyclist is at fault: If the cyclist is at fault in an automobile collision, the driver’s property damage and injuries may be covered by personal liability coverage on the rider’s homeowners or renter’s insurance policy. The cyclist’s medical bills may be covered by their health insurance, and damage to the bike may be covered if their homeowners or renters insurance policy has a particular rider for the bicycle.
When the driver is at fault: If a cyclist is struck by a car, the at-fault driver’s auto liability coverage may be used to cover the rider’s medical bills as well as the cost of repairing or replacing the bike. The rider will require health insurance to cover injuries if the motorist is uninsured. Damages to the bike are covered or not depending on how the cyclist’s home or renters policy insures the bicycle. The biker could also sue the uninsured driver for the accident’s damages and injuries. Medical payments coverage or personal injury protection on the driver’s auto policy may pay for the driver’s medical expenditures if he or she is harmed in the accident.
Accident between a bicycle and a pedestrian
When it’s the cyclist’s fault: Personal liability coverage on the cyclist’s homeowners or renters insurance policy may cover the pedestrian’s injuries and property damage. Injuries sustained by the biker may be covered by their health insurance. Depending on the policy or if a rider was added to cover the bicycle, damages to the cyclist’s bike may be covered by their house or renters insurance.
When a pedestrian causes an accident by wandering into the bike lane, the cyclist’s injuries and bike damage may be covered by the pedestrian’s personal responsibility coverage on their homeowners or renters insurance. Medical expenses incurred by the pedestrian will be covered by their health insurance.
Accident between a bicycle and a stationary object
If you crash with a tree, pothole, parked car, curb, or any other object while riding, your health insurance may cover your medical fees, and you may be able to claim damage to your bike if you have it listed as a distinct item on your homeowners or renters insurance policy. Your homes or renters insurance may cover damages to someone else’s personal property if you have personal responsibility coverage.
Are bicycles covered under contents insurance?
Home insurance is excellent, but it is designed to protect the contents of your home, therefore it only covers a limited number of scenarios. When it comes to safeguarding yourself and your bikes, it’s a good idea to invest in a specialist cycling insurance coverage.
Is my bike covered under my home insurance policy?
Many of us make the mistake of assuming that our bikes and riding accessories are protected under our home contents insurance plans. While this may be true in some situations, it is not true in the vast majority of cases, or at least not to the extent that you believe. Bikes are sometimes viewed as add-ons to home insurance policies, with many insurers charging exorbitant fees to cover and preserve your precious possessions.
You will not be insured if you are involved in an accident while riding your bike, even if you pay the price to have your motorcycles covered under your home contents insurance policy. With that in mind, it’s a good idea to look into a bicycle insurance coverage that covers both you and your bike.
We protect your bike from theft anywhere, not just at home
Every year, almost 100,000 bicycles are stolen in the United Kingdom, or around one every five minutes. Unfortunately, there is no way to avoid the possibility of theft.
While slightly over half of these thefts occur at the owner’s residence (including garages, sheds, and driveways), there’s also a potential that a really daring thief would swipe your prized possession from outside a cafe or shop while you’re out and about. You’ve undoubtedly seen enough grainy CCTV footage of a dude with bolt cutters approaching a bike lock and yanking it off to know that a chained-up bike isn’t always safe.
While we provide coverage while away from home as standard, many home contents insurance products do not. It’s a good idea to double-check with your homeowner’s insurance provider on this.
Only a specific cycling insurance coverage will provide you with a higher level of protection, as well as the certainty that your bike will be covered if it is stolen while you are away from home.
We’ll remedy any accidental damage
Accidental damage is something that most home contents insurance policies do not cover. A specific cycling insurance policy, on the other hand, will provide protection for your bike in the same way that a vehicle insurance policy provides safety for a car.
That means if you have an accident while riding and your bike is damaged, it’s fully covered up to the value of the bike. We also offer a replacement bike hire service so you can keep riding while you wait for repairs or a replacement, because we’re bikers too and know how frustrating it can be to be without a bike.
That’s something your household contents insurance coverage can’t boast about.
We’ll cover accessories too
When you apply for a quote with us, you may select accessories and possessions cover as an optional cover option. This cover option covers a wide range of accessories, including bike bags, lights, and GPS systems, up to a combined value of £1,000.
The sky is almost the limit
Whether you’re a seasoned veteran or a two-wheeled rookie, your bike and all the accoutrements that come with it are likely to have burned a large hole in your wallet. These machines are investments rather than just possessions, and as such, they must be safeguarded.
You AND your bike
While some home contents insurance policies will cover your bike, none will cover both you and your bike if you are involved in an accident while riding.
Unlike many other insurance companies, we prioritize you, the rider. Bikes, on the other hand, can be readily replaced; you, on the other hand, cannot. We’ll cover any and all of your medical needs, including as emergency dental work or rehabilitation physiotherapy, up to the value of £50,000 if you’re involved in an accident while riding your bike.
As cyclists ourselves, we understand how difficult it can be to get back on your bike after a serious accident. That’s why, in addition to financial assistance, we’ll provide you with emotional support, giving you the push you need to get back on your bike and ride again.
We’ll also assist anyone else involved in an accident that you may have caused by putting the individual first. If you cause any unintended harm or damage to another person’s property while riding your bike, we can provide personal liability insurance up to the value of £1,000,000.
Is Cycle insurance worth getting?
In summary, it’s not required by law, but it might be a good idea. If you want to protect your bike from theft and unintentional damage, or if you travel and race frequently and want to be prepared for anything, you should consider purchasing bicycle insurance.
Can I claim insurance for stolen bike?
Submit Your Insurance Claim Call the motor insurance company’s helpline after filing a FIR and follow the steps to register a claim against theft of your bike. Fill out the claim form and include all relevant information, such as your insurance policy number and your bike’s registration number.
What if I hit a car with my bicycle?
Although not everyone will be awarded damages in their case, based on the facts of your case, you may be eligible for compensation. If a bicycle collides with your car and the bicyclist is judged to be at fault, they must pay for your damages out of pocket. The majority of the time, car insurance does not cover bicycle accident damages.
If a motor vehicle driver is found to be at fault in an accident in which a bicycle collides with their vehicle, the bicyclist may sue the driver, and their insurance company may be forced to pay for the bicyclist’s damages, or the driver may be forced to pay for the bicyclist’s damages out of pocket if they do not have car insurance.
Examples of compensable losses in your case
The following are some of the most common damages claimed when suing a biker who has impacted your car:
- Expenses for bodily injury – If the accident results in any damage to your car, such as scratches, nicks, dents, and more, the cost of repairing these issues can be included in the damages you seek from the other party.
- Losses resulting from personal injuries If you sustained any injuries as a result of the accident, such as whiplash, blood, or other injuries, get medical assistance as soon as possible. Your lawyer will be able to use a medical report documenting your injuries and how they occurred in order to obtain damages.
- Emotional anguish Accidents occur unexpectedly and might have long-term mental consequences. If you need counseling after the accident, you may be able to get reimbursed for any monetary expenditures related to your mental suffering, such as appointment fees, medication, and so on.
- Wages lost – Car accident victims may be unable to work due to their injuries (in some cases). If you were unable to work as a result of your injuries sustained in the accident, you may be entitled to compensation for lost wages.
- You can reclaim any money you paid out of pocket for a car rental because of the accident if your vehicle was damaged in the accident and is being repaired in the shop.
- You may be able to recover damages for your pain and suffering as a result of the accident. The amount of this expense is determined by the circumstances of your accident. People who have major injuries, for example, can normally recover more for pain and suffering than those who have minor injuries.
- Loss of consortium If your injury harmed your connection with your spouse, you may be able to sue for damages to your marriage.
- If the accident may result in a long-term or permanent handicap, you may be able to include this hardship in your claim. The cost of these charges is primarily determined by the nature of your illness.
- Scarring/disfigurement If your accident resulted in injuries that will harm your look in the future, you may be able to pursue this non-economic damage in your case.
How does insurance work on a bike?
Your vehicle will be protected against theft, loss, and damage if you get a comprehensive two-wheeler insurance coverage. In the case of an accident, this policy will also provide personal accidental coverage for the owner or rider. Furthermore, third-party responsibility is covered under this sort of two-wheeler insurance.
How does cycle insurance work?
In the event that your bicycle is damaged in an accident, you will be covered for repair costs. The insured is indemnified against any claims resulting from damage to a third party’s property or injury to a third party.
Is it worth reporting stolen bike?
Police should be notified of the theft. As quickly as possible, file a police report. This is quite significant. It’s possible that you don’t have insurance. However, if they find a stolen bike and you’ve filed a complaint with a serial number, they’ll be able to link it to you, and you’ll be able to get your bike back!