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Do you need bicycle insurance?

Matt Fernell photo
Written by Matt Fernell, Financial Content Writer

18 December 2018

Bicycle insurance gives you financial protection if your bike is lost, stolen or damaged, but is it worth the cost? Here is how to work out if you need bicycle insurance.

Young woman walking bicycle down countryside road in the sun

What does it cover?

Bike insurance can cover things like:

  • Theft, vandalism or accidental damage

  • Personal accident

  • Third party liability

  • Taking part in competitions

  • Your accessories, including GPS computers, lights or clothing

  • Bicycle breakdown

  • Taking your bike abroad

Some bike insurance policies give you the option to cover:

  • Just your bike

  • Just yourself

  • Both in a combined policy

Not all bike insurers offer separate policies, so use our comparison to find those that can.

Here is an in depth look at everything a bicycle insurance policy can cover

When you may need it

A bike insurance policy might be worth buying if:

  • You have an expensive bike: Top of the range road bikes can cost more than £10,000, so it is worth having a policy that can cover the cost if your bike is damaged or stolen.

  • You use your bike every day: If you are injured in a road accident, or damage someone else's property while riding, bike insurance can cover the costs.

  • You use your bike to race: Some bike insurance policies can cover you when taking part in things like triathlons, time trials and road races.

Compare bicycle insurance policies here

When you may not need it

You might not need a bike insurance policy if:

  • Your bike is old or cheap: If your bike is inexpensive it may not be worth buying cover, especially as many policies charge an excess of £100 per claim.

  • You do not use your bike often: If you rarely take your bike out of your home a policy may not be worth getting.

  • Your bike is already covered: If your home insurance can cover your bike at home and on the road, you might not need a standalone bike policy as well.

Is your bike covered by your home insurance?

Check your home insurance policy if you have one, because it may include cover for your bike.

Most policies cover your bike when it is kept in your home or locked away in a garage.

Not all policies can cover your bike when it is away from your home, so you may not be covered if you crash and damage your bike. You may be able to add this cover, but it could cost you extra.

Is home insurance cover enough?

It depends on your bike and how you use it. If you keep your bike at home most of the time and only ride it occasionally, home insurance probably gives you enough cover.

Some insurers set a separate claim limit when your bike is outside of your home, for example £500.

If your bike is worth more than this, you should consider getting a specific bike insurance policy, or paying extra to increase the cover limit.

Check you policy documents or speak to your insurer to find out exactly what your policy covers.

Here is how home contents insurance works

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  • How to claim on your bicycle insurance