Whether you’re a commuter, a racing enthusiast or like roaming the world on your bike, having bicycle insurance can help cover the costs if you have an accident or your bike is stolen.
These are some of the leading specialist bicycle insurance providers in the UK:
You can find out more in our guide to the best bicycle insurance.
We've teamed up with some of the top bicycle insurance providers to negotiate a 10% discount on bicycle insurance for Bought by Many members.
Read on to learn more:
- Overview of bicycle insurance in the UK
- Bicycle insurance comparison
- What does bicycle insurance cover?
- Do I need bicycle insurance?
- How much does bicycle insurance cost?
- Cheap bicycle insurance
- What’s the best bicycle insurance in the UK?
- Can I get multi-bicycle insurance?
- Can I get electric bicycle insurance?
- Bicycle travel insurance
- What about the bicycle cover on my home insurance?
Overview of bicycle insurance in the UK
Dedicated bicycle cover is a relatively new type of specialist insurance.
Bicycle insurance is designed to pay out if your bike is lost, stolen or damaged. Policies can also include personal accident cover, breakdown and cover for races, travel and events.
Some companies within the sector have specialised further. PedalSure allows you to insure yourself, your bike or both together.
The idea is to make it easier to create a tailored policy for your needs, for example, a commuter may be riding an inexpensive bike but may want cover in case they suffer an injury in an accident.
It is possible to cover bikes on a home insurance policy but this cover mainly focuses on loss and theft from your home.
Specialist bicycle insurance focuses on protecting you and your bike at home and while you're out and about and it can cover accessories.
Bicycle insurance comparison
We compared a few of the top bicycle insurance companies in November 2017
|Bicycle Insurance Provider|
|PedalSure - You & Your Bike|
|Velosure - Comprehensive|
If you're interested in getting cover it's worth getting a range of quotes and comparing cover levels.
Some providers offer fully comprehensive policies while others allow you to pick and choose the options you'd like.
When getting a quote it's worth knowing some insurance use your postcode to calculate your price (people in cities are likely to pay more) but others don't. ETA, Bikmo, Assetsure, Bicy, and many others, seem to consider postcodes, whereas others like Bikspoke, Yellow Jersey, PedalSure, don't seem to.
Do I need bicycle insurance?
Cycling insurance is not a legal requirement but it can offer a number of benefits in certain situations.
More than 270,000 bikes are stolen every year in the UK. If you have a high-value bike insurance can be useful in the event of theft and some policies also cover accessories.
When weighing up whether you need insurance it's important to think about all the circumstances it will be useful and to find cover that is appropriate for those.
There is bicycle insurance that is designed for commuters, racers or those with expensive bikes. You can use our guide to the best bicycle insurance to work out the policies that meet your needs.
You can also read our colleague's piece on how insurance would have helped after his cycling accident.
What does bicycle insurance cover?
These are features that many bicycle insurance companies offer as standard:
- Public liability
- Personal accident
- Loss, theft or damage to a bicycle
- Replacement cycle hire cover
Public liability can cover legal fees and compensation if you cause an accident that results in physical injury to a third-party or damages their property.
Some policies that include cycling abroad will exclude liability cover in certain countries (often the US), so make sure you read your policy documents carefully.
You can learn more about liability cover here.
Breakdown or cycle rescue cover will help out if you break down a certain distance from your home. It can pay for travel expenses to take you and your bike home.
Personal accident cover will pay out a lump sum if you suffer a severe injury, such as loss of a limb, permanent total disablement, blindness, loss of function in a body part and death.
Some policies, like PedalSure's, for example, can even cover some hospital expenses, out-of-pocket expenses and loss of earnings (if you select these features) following an injury.
Loss, theft and damage cover can pay to have your cycle fixed or even replaced if it is beyond repair. Many bicycle insurers operate a new-for-old policy so you should get a new model that's the equivalent value of your bike.
Accidental damage and theft are unlikely to be covered by a home insurance policy if they happen away from your home.
Make sure to read the small print of your policy. Not all bike locks are accepted by insurers and many companies will only pay out if you have a lock that is on the Master Locksmiths Association ‘Sold Secure’ list.
Replacement cycle hire cover can save you the inconvenience of having to secure an alternative form of transport while waiting for your cycle to be repaired or for your new one to be delivered. A lot of bicycle insurance providers include this cover as standard.
Other bicycle insurance policies might include or offer these features as add-ons:
- Road rage cover
- Worldwide cover
- Sportives, racing and competition cover
- Race fee cover
- Bike box cover
Road rage assault cover pays for medical fees incurred due to an injury sustained in an assault on the road. Some insurers, like Velosure, would also cover counselling and some hospital expenses.
Worldwide bicycle cover is offered by most specialist bicycle insurance providers. Some, like Bikmo, include it as standard.
It is valid for around 30 to 90 days depending on the policy.
Join our group for travel insurance for cyclists to get a discount.
You might also like our article on the best winter destinations for cyclists.
Sportives, racing and competition cover would pay out if you had an accident or damage your bike or equipment while participating in an event. Some policies also cover entry fees if you have to cancel before an event because of an injury or illness.
If you’re interested in racing and competition cover, you can get 10% off your insurance by joining our racing cycling insurance group.
Yellow Jersey also offers triathlon insurance – one of the products you can get a 10% discount on if you join the group. Learn more about triathlon insurance here.
How much does bicycle insurance cost?
A bicycle insurance policy from Bikmo for a £1,500 bike costs around £158 per year, or around £13 a month. It includes cover for personal accident, personal liability, replacement hire, breakdown and theft as standard.
Bicycle insurance can cost anything from around £25 a year to over £200 per month. The more expensive your bike, the more expensive your cover. The cost of your bicycle insurance can also depend on factors such as your postcode and the comprehensiveness of the cover you choose.
We got quotes from ETA for a bike that costs £1,000 in West London in November 2017, and our annual premium was quoted at around £112 a year. A quote for a £2,000 bike was about £213 a year. A quote for a £3,000 bike was over £300.
ETA offers comprehensive bicycle insurance that includes race and triathlon cover as standard.
Such policies might give you greater control over the price of your bicycle insurance. Learn more about the best bicycle insurance providers here.
Cheap bicycle insurance
You can get bicycle insurance from around £25 a year if you own a cheap bike.
Joining a membership scheme could give you access to some cover for a small fee. The British Cycling scheme offers cover for liability and personal accidents, but it offers no cover for your bike and you are not allowed to make a claim against another member.
A British Cycling membership is required to enter most races in the UK but remember, you won't be able to claim against other members taking part.
Cheaper, less comprehensive bicycle insurance policies might have lower limits and more exclusions, which could potentially result in you having to foot the bill if anything does happen.
Opting for a higher excess might reduce the amount of your monthly/annual premiums but would mean you'd have to cover that cost every time you claim.
What’s the best bicycle insurance in the UK?
We’ve conducted research to identify the providers and policies that compete for the best bicycle insurance in the UK.
Bear in mind, however, that what works for someone else may not work for you. What really makes a bicycle insurance policy the best is how well suited it is to your circumstances.
Can I get multi-bicycle insurance?
Most specialist bicycle insurance providers will include a multi-bike discount.
Yellow Jersey offers a 60% discount on all additional bikes added to a policy. This is one of the biggest discounts we could find. It offers a discount if you renew at the end of your policy year.
Specialist bicycle insurer Bikmo offers up to 50% off for insuring multiple bikes on the same policy.
Bought By Many members get 10% off their bicycle insurance with Bikmo.
Can I get electric bicycle insurance?
Always double check before you buy, as different providers offer different levels of cover and limits.
Bicycle travel insurance
Some specialist bicycle insurance providers, like Yellow Jersey, offer covers designed for travelling with your bike.
Such policies marry standard travel insurance levels of cover – cancellation and curtailment, baggage loss or delay, hospital expenses, etc – and bicycle insurance levels of cover.
While your bicycle insurance will cover your bike if it gets damaged while you’re away, you will not get all the benefits that a travel policy offers.
Similarly, although a comprehensive travel insurance policy might be able to cover you for travelling by your bike, you might have to purchase an add-on that will make your travel insurance a lot more expensive, and significant limits might apply.
If you’re interested in roaming the world on your bike, check out our travel insurance for cyclists group and get 10% off your insurance when travelling on your bike.
What about the bicycle cover on my home insurance?
Home insurance policies might provide cover for theft and accidental damage if either happen on your property. You will often have to select bicycle cover as an extra when buying your home insurance and there are often strict rules about where and how you have to store your bike.
Some specialist bicycle insurance may have higher limits than home insurance policies and they should cover your bike while it is stored at home.
Along with covering you and your bike while you're out and about, having a separate cycling insurance also means you won't have to make a claim on your home insurance, which can push your premiums up when you renew.
Find out about the best home insurance policies for cyclists.