Bicycle Insurance How Much

The annual premium to insure a bicycle starts at 100 per year and settles at very reasonable premiums that depend on the various options you select.

Bicycle insurance how much. You paid a large chunk of change for your bike. While some home insurers will include cycle cover on their policies as standard often the bike is only insured if it is inside the property or secured properly in an outbuilding like a shed or garage. Most bicycle specific companies will cover your bike up to a much higher value than home insurance and will offer hefty discounts such as 50 per cent on additional bikes on the policy or a. When you choose bicycle physical damage coverage your policy will pay the cost to repair or replace the bike including fixed accessories like your hr monitor or gps up to the policy limit for losses caused by sudden accidental direct physical loss or damage to your bike.

The policy covers bicycles anywhere in the usa and canada for all types of accidental damage as well as theft including loss or damage caused while in transit by road or air. Why is bicycle insurance important. But the additional bicycle insurance coverage isn t cheap. In other words your bicycle will be covered for such losses as collision crash fire theft attempted theft.

If your bicycle is damaged due to one of the covered risks of your policy like theft for example you will need to know if your insurance covers replacement cost or actual cash value in order to know how much money you will get. A rider on a 1 000 bike with one of koetz s carriers could cost up to 160 per year. Get a quote now. While the average bike costs a few hundred dollars some enthusiasts don t think twice about spending 5 000 to 10 000 for top of the line bikes.

Look for bicycle insurance when purchasing a bicycle insurance policy may make sense for you under the following circumstances. Your actual bicycle insurance quote will be calculated based on your circumstances and takes into consideration what kind of bike you ride and its value. With qbe s bicycle insurance cover ensure peace of mind by covering your bike injury to others and damage to other people s property. Assuming that a bike is covered under home contents insurance is a mistake.

With more than 100 000 bicycles stolen every year we help you decide if you should get insured or ride without a financial helmet.