A buyer's guide to the best bicycle and e-bike insurance

Theft

Theft is one of the biggest concerns for cyclists. According to FBI data, around 190,000 bikes are stolen annually in the U.S., which equates to about one every 2.5 minutes. But other sources suggest the number is much higher, with estimates reaching up to 2 million bikes stolen each year across North America. Unfortunately, less than 5% of stolen bikes are ever recovered, and 80% of U.S. cyclists have had at least one bike stolen.

Most thefts occur at home, with 54% of incidents happening on the owner’s property, such as in the garage or backyard. Others take place at workplaces, schools, or public bike racks. Not all bike insurance policies cover theft equally. Some have restrictions on where and when your bike can be stolen, and others don’t clearly disclose these limitations. It's important to read the fine print and ask your agent for clarification before purchasing a policy.

Velosurance offers comprehensive theft coverage, including protection while your bike is locked to a rack or left unattended. There are no time or location restrictions, and we cover both the bike and its parts, regardless of whether the entire bike is stolen or just a component.

Crash Coverage

Crashes are another major concern for cyclists, especially those who are new to riding or participate in competitive events. Even experienced riders can crash due to factors like speed, poor judgment, or unexpected obstacles. While some policies only cover crashes under specific conditions, Velosurance provides broad coverage, including any accident that occurs unexpectedly and unintentionally.

Our policy also covers personal injury and medical expenses, along with reimbursement for riding gear like helmets, shoes, and sunglasses. Spare parts, such as wheels or computers, are also included, with limits to ensure you get the support you need after an accident.

Medical Coverage

Healthcare costs are rising, and many cyclists find themselves facing significant out-of-pocket expenses after an accident. This is where optional medical payment coverage can make a difference. Velosurance offers this feature, helping to bridge the gap between what you pay and what your health insurance covers. It’s particularly useful for those with high-deductible plans or no health insurance at all.

This coverage applies only to injuries sustained while cycling and can help cover emergency room visits, physical therapy, and lost wages. It’s a valuable addition to any cyclist’s insurance portfolio, offering peace of mind and financial protection in case of an accident.

Vehicle Contact Protection

Being hit by a car is one of the scariest scenarios for a cyclist. Vehicle Contact Protection (VCP) is designed to cover the costs if you’re involved in a collision with an uninsured or underinsured motorist. This includes medical expenses, lost wages, and other related costs.

Velosurance’s VCP works similarly to Uninsured/Underinsured Motorist (UIM) coverage in auto insurance. It’s a must-have for anyone who regularly shares the road with vehicles, offering critical financial protection in the event of an accident.

Liability Coverage

If you cause an accident that injures someone else or damages property, liability coverage can protect you from legal and financial consequences. This is especially important for cyclists who ride in busy areas, participate in races, or share the road with cars.

Velosurance offers liability coverage with limits up to $300,000, making it a strong choice for those who want comprehensive protection. It’s an essential part of any cyclist’s insurance plan, ensuring you're prepared for the unexpected.

Racing Coverage

For serious cyclists, racing is more than a hobby—it’s a lifestyle. Racing brings unique risks, and not all insurance policies cover these situations. Velosurance offers specialized racing coverage, ensuring your bike is protected during competitions, training rides, and events.

This coverage extends to race day mishaps, such as equipment failure or theft, and even includes event fee reimbursement if you can't participate. Whether you're competing locally or internationally, our policy gives you the confidence to focus on the race without worrying about the risks.

Full Value Coverage

Unlike most insurers that use actual cash value (ACV), Velosurance offers full value coverage, meaning you’ll receive the declared value of your bike minus your deductible—no depreciation. This is especially important for high-end bikes, which can be difficult to replace if damaged or stolen.

When declaring your bike’s value, include all attached components like panniers, lights, GPS units, and even a touring trailer. This ensures complete coverage in the event of a total or partial loss.

Primary vs. Secondary Coverage

One key distinction between bike insurance policies is whether they act as primary or secondary coverage. Secondary policies require you to file a claim with your home insurance first, which can lead to higher premiums or policy cancellation.

Velosurance offers primary coverage, meaning claims are processed independently without affecting your home insurance. This makes it a smarter choice for cyclists who want to avoid unnecessary complications and keep their existing insurance rates stable.

E-Bike Coverage

The rise of e-bikes has brought new challenges for insurers. Many traditional providers exclude e-bikes from coverage, citing concerns about safety and regulation. However, Velosurance covers e-bikes that meet federal standards, providing full protection for both the bike and its rider.

We also offer liability coverage for e-bikes, with limits up to $300,000. This ensures you're protected whether you're riding on city streets or mountain trails.

Recumbent and Trike Coverage

Recumbent bikes and trikes are popular among riders with mobility needs or those who prefer a more comfortable ride. Despite their growing popularity, many insurers still fail to cover them.

Velosurance covers recumbent bikes and trikes just like regular bicycles, including their electrified versions. As long as they meet Class 1, 2, or 3 e-bike requirements, they are fully protected under our policy.

International Coverage

Traveling with your bike is common, whether you're heading to a local trail or crossing international borders. Velosurance offers coverage for bike damage or loss during transport, including airline and courier claims.

We also provide optional worldwide coverage, ensuring your bike is protected no matter where you go. This is especially valuable for cyclists who travel frequently or compete internationally.

Permissive Use

Sharing your bike with friends or family is a great way to enjoy cycling together. However, not all insurance policies extend coverage in these situations.

Velosurance covers your bike even when someone else rides it, giving you the freedom to share your passion without compromising your protection.

What to Look For

Before choosing a bike insurance policy, review the terms carefully. Pay attention to coverage limits, deductibles, exclusions, and the claim process. A good policy should offer comprehensive protection without unnecessary restrictions.

Compare quotes from different providers, and consider discounts for memberships in cycling organizations. Also, research the company’s reputation and customer reviews to ensure you’re getting reliable service.

About Velosurance

Founded in 2012 by two passionate cyclists, Velosurance has become a leader in the bicycle insurance industry. Our team understands the unique risks of cycling and provides tailored coverage for all types of bikes, including e-bikes, recumbents, and trikes.

With over a decade of experience and thousands of claims processed, we offer the most comprehensive and customer-focused coverage available. Whether you're a casual rider or a competitive cyclist, Velosurance is here to protect your investment and your passion for cycling.

How We Help

We believe that a smooth and efficient claim process is essential for a positive customer experience. At Velosurance, we allow you to choose your preferred bike shop for repairs, and we don’t require pre-approval for most claims. As long as you provide documentation and a repair estimate, your claim can be processed quickly and efficiently.

Our goal is to get you back on the road as soon as possible, with minimal hassle and maximum support. With our comprehensive coverage and dedicated service, you can ride with confidence knowing you're protected.