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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.
However, because electric bikes are so expensive and have many different parts, you may want to consider a standalone e-bike insurance policy or a warranty. Many home insurers might just see it as an expensive item with plenty of risk attached, and in some cases will not insure it if it's too expensive. It may be that there is an upper limit for single items within your home insurance policy.
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Buying extra cover will offer you protection if your bike is stolen or damaged away from your home, but again, the payout will be subject to limits. For example, LV's cycle insurance add-on only provides cover up to £1,000. Without a liability policy to assign and pay for a defense attorney, the defendant will need to hire one out-of-pocket. The contingency fee for a liability attorney starts at $10,000 and can easily reach $40,000 pre-trial. Home insurance only covers your bike if it is stolen or damaged by a covered peril. For example, if you go off-roading or compete in a race and your bike is damaged by the terrain, you wouldn’t be covered because general wear and tear is listed as an exclusion on your policy.
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.
What should I do if my bicycle gets stolen?
Although not a legal requirement, it's worth considering leasehold buildings insurance to cover damages to the building. Make sure you check your policy documents, so you know exactly what you’re covered for. You might find you have enough cover through your home insurance policy or if you include it as an add-on. As we mentioned, you might already have cover on your policy if your bicycle is worth less than a certain amount, and you only want to cover it while it’s at home. These include how many bicycles you want to insure, the value and make of your bicycle and where you live. Event insurance- some policies give you the option to cover yourself while you’re taking part in event.
Just like regular bikes, if your electronic bicycle is worth more than £350 it’ll need to be listed individually on your policy. Optional cover away from home can be added too, and this will cover your ebike anywhere in the world. You won’t need separate insurance for electric bikes as they’re automatically covered under your Admiral Contents Insurance, as long as they don’t need a licence to be used on the road. Whether you cycle to work or simply head out on two wheels on a sunny weekend, bicycle insurance will protect all the bikes in your household.
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That’s because many contents insurance policies cover items when they’re in your home, not while they’re away from it. Theft - If your bicycle is stolen, your insurance could cover the cost of replacement, usually on a ‘new for old’ basis. We help you understand everything you need to know about bicycle insurance. From what it covers, to what you should do if your bicycle gets stolen. Only family members in your household can ride your bikes, which are insured with us. We do ask that your bicycle must be locked to an immovable object to be covered for loss or theft when away from your home.
It won’t stop your bicycle being stolen, but it improves your chances of finding your trusty steed if it is. Always lock your bicycle, even if you’re only leaving it for a couple of minutes. And you won’t be covered outside the UK unless you’ve paid for European or worldwide cover or this is included as standard. And if your bicycle is your only method of transport, being without it could be a pain in the padded cycling shorts. Cover can be provided on our policy subject to terms and an additional premium. Electric cycles are not covered as standard on our Bicycle cover.
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Cycling has soared in popularity in 2020, with bicycle shops enjoying unprecedented demand as riders took to the empty streets during the lockdown. Without insurance, you might not have the cash to get a replacement when you need it. Bicycling is becoming a popular mode of transportation as well as a recreational form of exercise and sport. People are spending anywhere from a few hundred dollars to upwards of a few thousand dollars for high-quality bikes.
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.
Always be prepared, when you go out to be alert, aware, and safe. See more optional extras with our full home insurance cover, including building, contents and combined. Owning a bike is a great way to stay active and cut back on transport costs. You should check the cover limits for each aspect of a policy when comparing prices to make sure they meet your needs. Roadside recovery- if you’re out on your bicycle and break down more than a certain distance from home, this add-on lets you be picked up and taken to a safe place. You should check your policy wording to find out exactly what’s excluded as this might vary between insurers.
This means you could get more comprehensive cover than if you added your bicycle to your home contents policy. It will probably cost a little more than simply adding on an extra item to your home contents insurance, but specialist insurers can often tailor the cover to meet your needs. If you want your bike to be covered away from home, you will need to add a type of cover variously called ‘personal possessions’, ‘all risks’ or ‘away from home’ cover to your contents insurance policy.
Whether it’s annoying ants or scary spiders, pests can cause untold damage. We research these bothersome bugs and what can be done about them. And make sure there’s hardly any daylight between the lock and your bicycle. When you’re securing your bicycle, use as much street furniture – that’s bicycle racks and lampposts – as possible.
Personal liability coverage is the component of your policy that covers legal and medical expenses if you’re liable for accidental injury or property damage. If you accidentally injure another person with your bike, for example, you may be able to file a claim with your insurer to cover the cost of legal fees in the event of a lawsuit. Homeowners insurance helps cover the costs to repair or replace your home and belongings in the event they are damaged by covered threats like fire, theft and severe weather.
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