Do you need to insure your bike?

Most riders understand the importance of having a helmet and good cycling gear when they are on the road. Unfortunately, most of them do not understand the importance of insurance for their bikes. A bicycle can be stolen, damaged and the cyclist can be injured. In such incidents, bike insurance could help save the day.

Most people don’t value bikes very much, but today some bikes cost over $ 1,500 and some may be worth more than some cars. As a bicycle owner, it is important to protect your valuables by purchasing insurance for your bicycle.

Bike insurance: is it a new term?

According to, bike insurance is not a new term as the product has been on the market for some time. The only difference is that most people don’t know that such a product exists and many others don’t like it at all.

The term not only refers to theft and accident insurance, but there is more to this product. Most people may also think that they have more than enough insurance products such as car, owner, tenant, health care, business, etc. They may think that what they pay for other insurance products is more than enough and that they do not need bicycle insurance.

Bike insurance covers more, and most coverage extends to medical expenses, repair costs, and liability if someone else has caused an accident. Some companies will cover the cost of the ride and a replacement bike while you wait for your request to be processed.

Myths prevent bike owners from insuring them

While some insurance companies have personalized stand-alone insurance for bicycle owners, most of them do not insure their bikes due to misconceptions. Unfortunately, these myths don’t help them after injury, theft, or some other type of loss. Here are the most common myths.

Home insurance includes bicycles

This is a belief that every insured owner has and they believe that the insurance company will compensate them for damage to their bikes. This is true but only in part because the owner of the bike has to dig deeper to understand what is covered and to what extent.

Some home insurance policies have low coverage limits and high deductibles, which has a huge implication on what they can get. The owner of the bike could end up getting less than $ 300 for a bike worth $ 1,500. The claim could also increase insurance rates.

A locked bicycle cannot be stolen

This is another myth that bicycle owners must overcome and live out in reality. Bike locks, regardless of their quality, don’t keep thieves away. This can help to a point, but if a thief is determined to steal, they will succeed even if the bike is locked.

Professional cyclists must insure their bikes

Professional cyclists can insure their bikes because cycling is their livelihood, but everyone needs bike insurance. An accident can happen, it can be stolen or damaged for some other reason at a time when you don’t have the money to repair or buy another quality bike.

Insuring a bicycle is too expensive

The medical costs you could incur after an accident are much higher than the cost you will have to pay to insure the bike. Most insurance companies for bicycles cost between $ 100 and $ 300 per year, or about $ 8 to $ 25 per month. It’s not a lot, but it can save you thousands of dollars in medical bills or the cost of buying a new bike.

Coverage You May Get From Other Insurance Policies

Other insurance policies may cover you up to a point. For example, if you collide with a car, auto insurance should cover the cyclist for the injuries. If you have personal injury coverage, the coverage will protect you if you are injured while using your bicycle or due to a collision.

You might also have health insurance and if you are injured after an accident, the insurance can cover your medical bills up to a point. You still need autonomous bike insurance that can cover more than personal injury.


Several myths have surrounded bicycle owners for many years that prevent them from purchasing insurance for their bikes. Most bike owners understand the importance of having a helmet, good braking system, and riding gear, but they don’t appreciate the need for bike insurance. Bicycle insurance covers not only theft and accidents but also medical expenses, repairs, contact with the vehicle, accidental damage, bicycle liability, etc.

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