Does Usual Insurance Cover Bicycles?

According to Electric Bicycles Market, bicycles are worth valuable money and it’s always a shame being hit or damaging your bike because of someone else’s inattention. No law requires mandatory insurance for bicycles like the way car owners do. Despite this reality, bicycle owners still lose their bikes through theft and accidents. The cost of buying a bicycle is often rising and no owner can afford to lose their bicycle or to write them off after an accident. 

If a cyclist is hit by a speeding car, the car insurance might cover the bicycle damages and the rider but it all depends on the outcome of investigations. Homeowners and renters’ insurance might also cover a bike, but again, it all depends on the policy. The best way to protect your bike is to have a separate insurance cover for it against theft and various forms of damages. 

Is there any bike insurance out there?

Due to the notion that bikes do not require insurance according to law, most bike owners do not even care to know if there is any company that provides a cover for their bikes. The truth is, several insurance companies provide cover for bikes in various ways. 

One such company is which provides full coverage to electric bikes and traditional bikes. Today, insurance companies are flexible and can customize a product to meet the needs of a specific target group. Bike insurance is provided in various ways. 

Through home and renters insurance 

Homeowner insurance is taken by individuals who own homes or apartments. The insurance usually covers the home in terms of its physical structure and the property therein. These are goods a homeowner has purchased and put them inside the home or within the compound. 

On the other hand, a renter’s insurance is bought by individuals who rent homes or apartment houses to live in. This kind of insurance does not cover the building but only the property owned by the individual. If the person is living in an apartment, it covers property within his unique unit. 

If, for example, their bike was outside the apartment, the insurance might not cover it. If it’s a homeowner and their bike is stolen while outside the perimeter fence, the insurance company might not take liability. The same case will apply if it’s stolen outside a supermarket, from public parking, etc. Even if the bike was within the insured property, the insurance would only cover some part. 

Through bicycle insurance companies 

Some insurance companies have an insurance product designed specifically to cover bikes. The cover is divided into various policies that fit the bike owner’s needs. Some policies cover the cost for purchasing spare parts, others for medical costs, theft, damage, impact with a car, etc. 

Bicycle-specific insurance companies calculate the cost of insurance depending on the value of the bike and the policy the owner wants to take. If something negative happens and the owner has taken a policy for such an incident, the insurance company might cover 100 percent of damages. 

If, for example, the bike is stolen and the owner has insured it against theft, they will make a claim and the insurance company can pay in full. Compared to renters and homeowners insurance that is limited to what it can cover, this cover is much better. 

Through the personal accident insurance cover

A bike owner might take a personal accident cover where they can be compensated if they get injured due to an accident. It could be injuries that lead to disability or death. The cause of injury could be due to an accident or other external occurrences. 

The only challenge is that the owner will be compensated only when an accident occurs. It could be they were hit by a car or they tumbled and fell. This kind of cover will not benefit them if their bike is stolen, when it requires spare parts due to wear and tear, or when the bike is destroyed by fire. 

The bike owner will still need another cover to help them because their bike might get damaged but not themselves. Personal accident insurance cover companies will not rush to pay until they have done thorough investigations and there is no guarantee of payment.


No law makes it mandatory for bike owners to take insurance for their bikes. Regardless of this, bike owners should have insurance cover for their bikes against incidents such as theft, fire, accidents, and repair costs. The homeowner and renter insurance can only give a partial cover for bikes but it’s only limited to property within the building in question. The best option is for bike owners to take insurance through companies with products specifically customized for bikes.

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