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Bicycle insurance

Bicycle insurance

Your bicycle's covered by your home insurance, right – or is it? If you're not 100% sure, it's worth double checking to ensure you have suitable bicycle insurance for your situation included in your policy. Here's what you should think about...

Chris King
From the Home team
minute read
posted 19 FEBRUARY 2020

Is my bike covered by my home insurance?

It depends on your policy. There are three ways a bike can be included in your home insurance:

Contents insurance: Some providers (but certainly not all!) will classify push bikes as contents and will cover them for standard things (fire, theft, flood damage, etc) when they're inside your home. There's often conditions that must be fulfilled to ensure any claim will be paid, like your bike has to be locked to a fixed point if stolen from within the boundaries of your home. There's usually a maximum limit you can claim before you need to add the bike individually to the policy.

Personal possessions: This is the amount you enter for all items you take with you when you're away from your home like mobiles and watches. Sometimes bikes can be included here. Again, insurance providers may have rules that your bike needs to be locked to a fixed point to ensure a pay out if stolen.

Individual bike cover: When getting a quote, we ask customers to add bikes worth more than £350 to their policy, so that they're covered individually on that policy. If your bike isn't worth £350 and you want to make sure it's covered, check the definitions of contents and personal possessions in the policy book to make sure they include bikes.

How do I get bicycle insurance with my home insurance?

If you already have home insurance and want to stick with the same provider, contact your insurance provider directly. They'll let you know what kind of bicycle insurance they offer.

If you're buying new home insurance or thinking of switching, use our comparison tool. We'll ask you some questions about what you want to insure, including bikes. Then we'll show you a selection of policies that meet your needs.

Whatever you do, make sure you check all the policy details carefully. These will tell you the exact situations in which your bike is covered, and how much it's covered for – read on for what to look for. If you're not happy with the terms, go for a different policy.

What should I look for to get great bicycle insurance?

Here are some of the things to look out for:

Whether your bike is covered. This is the simplest thing. Does your policy contain pedal bike insurance, have you declared your bike if you need to, and have you fulfilled any other conditions your insurance provider requires?

Where and when it's covered. Check your policy carefully to ensure your bike is covered when you're out and about, including if you lock it up and leave it away from home. You might want to specifically check if you can leave it overnight. And if you're into cycle touring, check whether the cover extends to other countries. You're also not likely to get cover for a bike that's damaged while competing in a race.

What it's covered against. For example, theft, vandalism and accidental damage.

How much it's covered for. If you have an expensive bike, check to see if your policy has a limit on the payout it will provide.

What security is expected of you. You're likely to need a robust lock and there will probably be rules about how you secure your bike – for example, you must always lock it to an immovable object.

What your policy excess is. Bicycle insurance isn't much use if the excess is so high you wouldn't want to make a claim. Find out more about home insurance excess. And remember, claiming on your home insurance can affect your no-claims bonus, so even if the excess is low you might want to think twice.

Do I really need to insure my bicycle?

Bicycle crime is serious business. In 2016, there were an estimated 297,000 incidents of bicycle theft. That's 2.3% of households that own a bike, every year.

As well as paying to replace your bike, bike insurance could save you money by getting you back on the road more quickly – especially if you rely on your bike for transport to work. Imagine you suddenly had to pay £1.50 bus fare each way. That's over £60 per month. So pedal bike insurance could be well worth the expense.

What else might bicycle insurance cover?

There are some other things to check for in your policy, for example:

  • public liability and personal injury cover
  • new for old if your bike can't be repaired
  • accessories cover such as for helmets and clothing (check cover and any limits which may apply)

Is insuring a bicycle expensive?

It doesn't have to be. Your home insurance can be tailored to suit your needs, so compare the market and find a great policy for you.

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