A 2024 Cyclist Buyer's Guide to America's Best Bicycle Insurance

2024 Cyclists Buyer's Guide to America's Best Bike Insurance

2024 Bike Insurance Buyer's Guide

January 3, 2024 / PR NEWSWIRE – BikeInsure, an insurtech company specializing in bicycle insurance for cyclists in the United States, has released a 2024 Cyclist Buyer's Guide to America's Best Bike Insurance. Today's cyclists need separate bike insurance to protect their new or used bicycles and eBikes from riding, transit, or theft risks. The Bicycle Insurance Buyer's Guide will define 'The Better Way' for cyclists in the United States to protect their bikes and eBikes, which includes all 3-Class electric bicycle standards, and making a claim with the separate bike insurance, like BikeInsure, won't affect other insurance policies.

PR Newswire Release
Nationwide Bike Insurance Highlights

The BikeInsure separate bike insurance policy is designed specifically for bicycles and eBikes. Unlike homeowners' insurance policies considered catastrophic home loss protection and do not offer adequate bicycle coverage and insurance policies that exclude electric bikes due to their classification as motorized vehicles, America's Best Bicycle Insurance provides comprehensive coverage for both.

BikeInsure Separate Bike Insurance

Buzzy Cohn, CEO of BikeInsure, mentioned that, unlike other bike insurance companies with "Variable Pricing" in the United States, BikeInsure offers "Fixed Pricing" for its comprehensive bicycle insurance for only $16.99 monthly. BikeInsure has developed a unique process that allows cyclists a simple 2-minute sign-up to easily obtain bike coverage, including optional theft protection for a bicycle or e-bike, directly from the BikeInsure website. The separate bike insurance for your bike or electric bike includes coverage for all non-stock attached accessories and components listed on the policy. It also provides transit protection once enrolled.

Bike Insurance Companies Compared

BikeInsure is the Official Bike Insurance Partner for USA Cycling, the International Mountain Bicycling Association (IMBA), and the League of American Bicyclists. America's top cycling organizations each value opt-in separate bike insurance to benefit their members. 

"As the official bike insurance provider of USA Cycling, BikeInsure brings a wealth of expertise and experience in safeguarding bicycles against theft, damage, and accidents," USA Cycling shared in USA Cycling Welcomes BikeInsure as Official Bicycle Insurance Partner.

BikeInsure USA Cycling Bike Insurance

“Knowing many of our members travel for destination riding, and regularly transport their bikes to trailheads in their local and regional communities, IMBA members will be stoked to have BikeInsure's Transit Protection included when they sign up,” the International Mountain Bicycling Association emphasized in IMBA Welcomes BikeInsure as Official Mountain Bike Insurance Partner.

BikeInsure IMBA Bike Insurance

"With BikeInsure, you can protect your bicycle or e-bike and enjoy the 'peace of mind' that comes with knowing that you're only a $100 deductible from getting back on the road if a bike crash happens," the League wrote in League of American Bicyclists Celebrates BikeInsure as Official Bike Insurance Partner.

BikeInsure League Bike Insurance

Bicycle Insurance Buyer's Guide takes BikeInsure for a Ride.

Bike Insurance 2024 Buyer's Guide

Do you worry about the possibility of your bike being damaged or stolen?

BikeInsure is a specialty insurance agency that offers the best and most affordable bicycle insurance to cyclists in the United States. The BikeInsure plan offers bicycle insurance, including physical damage coverage called 'BikeCoverage' with a $100 deductible and optional protection against theft called 'TheftProtect,' with a $250 deductible. With BikeInsure, you can receive reimbursement for damages to your bicycle, eBike, and accessories caused by riding accidents or transit. If you opt for bicycle theft protection insurance, you'll also be covered if your bike or eBike gets stolen.

BikeInsure it, then Ride it!

Licensed insurance producer BikeInsure, is administering the insurance plan, underwritten by carrier Great American Insurance Company, rated "A+" (Superior) by AM Best, an authorized insurer in all 50 states and Washington, DC.

For 152 years, Americans have trusted Great American Insurance Company to protect them and render best-in-class service.

BikeInsure. Great American Insurance Group

Is Bike Insurance Worth the Cost?

Yes! A Cyclist 18 years or older can purchase a separate bike insurance policy from BikeInsure for $16.99 per month for each listed bicycle.

As seen in the Bicycle Retailer and Industry News article 'BikeInsure aims to reduce cyclists' homeowner's insurance burden,' So if you side-swipe that $250 Shimano XTR derailleur against a rock or snap that $450 SRAM eTap AXS shifter on the pavement, it's not necessarily an "Oh, shift!" moment.

BikeInsure offers comprehensive bike coverage for $16.99 per month with a $100 deductible.

  • eBike Bike Insurance is $16.99/mo.
  • Road Bike Insurance is $16.99/mo.
  • Triathlon Insurance is $16.99/mo.
  • Mountain Bike Insurance is $16.99/mo.
  • Gravel Bike Insurance is $16.99/mo.
  • Fat Bike Insurance is $16.99/mo.
  • Cyclocross Bike Insurance is $16.99/mo.
  • Cargo Bike Insurance is $16.99/mo.
  • Your Bicycle Insurance is $16.99/mo.
BikeInsure Available Nationwide

Does an Electric Bike (eBike) need Bicycle Insurance?

Yes. "Electric bicycles are often classified as motorized vehicles rather than personal property, so they are usually a (homeowner's, renters, and auto) insurance exclusion." said Buzzy Cohn, CEO of BikeInsure and eBike Owner. "Therefore, eBike insurance begins for riding, transit, and theft risks of an electric bike and attached accessories once it has separate bike insurance. I have 'peace of mind' coverage for my Electric Road Bike because I am BikeInsure'd!"

BikeInsure Electric Bike Insurance

BikeInsure covers the "3-Class" eBike standards. All classes limit the motor's power to 750 Watts.

  • Class 1: eBikes that are pedal-assist only, with no throttle, and have a maximum assisted speed of 20 mph.
  • Class 2: eBikes that also have a maximum speed of 20 mph, but are throttle-assisted.
  • Class 3: eBikes that are pedal-assist only, with no throttle, and a maximum assisted speed of 28 mph.
BikeInsure eBike Insurance $16.99/mo.

Class 1, 2, or 3 electric bicycles are insured for $16.99/mo.

The comprehensive eBicycle insurance plan with up to $10,000 in coverage per electric bicycle can be purchased for a $16.99 per month credit card charge. In the event of an ebike accident loss occurrence, you are responsible for a $100 deductible.

All types of eBikes have the same insurance policy price!

  • eBike Insurance is $16.99/mo.
  • eRoad Bike Insurance is $16.99/mo.
  • eMountain Bike Insurance is $16.99/mo.
  • eGravel Bike Insurance is $16.99/mo.
  • eFat Bike Insurance is $16.99/mo.
  • eTrike Bike Insurance is $16.99/mo.
  • eCargo Bike Insurance is $16.99/mo.
  • Your eBicycle or Bike Insurance is $16.99/mo.
BikeInsure eBike Insurance

BikeInsure offers optional bike theft insurance for electric bicycles for $8 monthly. The enrolled eBike would then have comprehensive e-bicycle accident insurance + theft protection. When you opt for theft protection, the BikeInsure plan will cover the cost of your electric bike in case of theft. You will only be responsible for a $250 deductible.

What Types of Bikes Are Covered by Bicycle Insurance?

The separate bike insurance covers all new or used bicycles powered by human pedaling, such as road, triathlon, mountain, gravel, cyclocross, fat, cargo, touring, elliptigo, tandem, and eBike.

Note: The BikeInsure policy includes coverage for electric bicycles at no additional cost.

BikeInsure Customer provided Review Photos

To see more bicycles enrolled in the separate bike insurance, visit the BikeInsure Customer Stories page.

When does bicycle insurance cover my bike?

The BikeInsure solution reimburses you for repairs to your bicycle or eBike due to accidents when riding an insured new or used bike powered by human pedaling on land within the United States, its territories and possessions, Puerto Rico, and Canada.

Insurance is included during transit by land or air for each insured bicycle or ebike.

The coverage also applies if the bike or eBike is stolen when optional bicycle theft insurance is selected.

enjoy the ride. you're covered

Are cycling rides from commuting to competitive events covered?

Yes! As a cycling enthusiast, ensuring you have adequate insurance coverage is essential. With BikeInsure, you can have 'peace of mind' when riding! The separate bike insurance policy covers a wide range of rides, from casual to competitive and road to off-road.

Whether riding solo or with a group, commuting to work, or participating in a charity event, gran fondo, triathlon, or cycling race, BikeInsure has your bike covered. And if you're an electric bike rider, you can sign up for your eBike because the BikeInsure policy applies to it at no additional cost!

Commuter Cycling Rides

Are Bike Accessories considered insured components of the bicycle?

Yes! Cyclists often view their bikes as more than just a means of transportation. They often purchase attached accessories like bags, cages, computers, lights, and even safety and convenience items like action cameras, radar, or portable pumps. Some bicycles or eBikes may contain non-stock components such as the gruppo, pedals, power meter, saddle, and wheelset.

BikeInsure bike definition includes attached Accessories

When enrolling for bike insurance at BikeInsure.com, applicants can include these items in the "List Bike Accessories" section of the "Bike Information" Form. By doing so, these accessories become part of the scheduled bicycle definition, which is factored to determine the overall value of the bike.

Bike Information Insurance Form

After completing your quick sign-up process, watch for your BikeInsure plan policy. When you check the "Equipment Schedule," you'll see that each of the ACCESSORIES you listed on your application is part of the corresponding bicycle definition. That's it!

Accessories. BikeInsure Equipment Schedule

Can one bicycle insurance policy cover multiple bikes?

Yes! A BikeInsure policy allows you to insure multiple bicycles. When you sign up, you can use the "+Add Another Bike" feature to add as many bicycles or eBikes as you want to your insurance coverage. While there is only one BikeInsure policy, each bike or eBike you add is accounted for individually.

Two eBikes Insured on One BikeInsure Policy

A BikeInsure customer shared a photo of their two Rad Power Radcity eBikes and their customer story on the BikeInsure Reviews page. Both electric bicycles have one BikeInsure policy.

"BikeInsure is well worth the few clicks it takes to get started. The entire process was very simple, from finding BikeInsure on a Bike Shop website to the easy three-screen sign-up.

I was pleasantly surprised when the CEO of BikeInsure called me right away to welcome me and answer my questions. Their knowledgeable assistance was greatly appreciated, especially since our eBikes were expensive.

Thanks to BikeInsure, our 'peace of mind' against accidents and theft lets us adventure on our Rad Power Bikes RadCity 5 Plus Electric Commuter Bikes without worry."

How much does the bike insurance pay if a cycling accident occurs?

BikeInsure physical damage coverage has a $10,000 per bike annual aggregate coverage limit and a $100 per occurrence deductible.

Bike Accident Claim Occurrence

Suppose your bicycle is in an accident and physical damage to the insured bike occurs. In that case, the insurance will pay the amount necessary to repair the insured bike, not to exceed the value of the bicycle and the stated limit of insurance.

"I had an unfortunate accident during a group bike ride with five other cyclists. While chatting with a fellow cyclist, I rode beside them, and the cyclist in front suddenly swerved to avoid a log on the road. Regrettably, I didn't see the obstacle, and collided with debris from a recent storm. As a result of the collision, my bike's fork, wheel, and rotor were damaged, and my pride was hurt." Cyclist admires their Bicycle Insurance after regrettable Bike Accident with the review of a quick and hassle-free BikeInsure claim process.

Bicycle Accident Claim Occurrence

However, suppose there is a total bike loss, or the BikeInsure insured customer decides not to have the bike repaired. In that case, we will pay the amount necessary to replace the bicycle with a current market substantially similar to, like, and quality bike less the $100 per occurrence deductible, not exceeding the stated insurance limit.

The customer who received $5,316 from BikeInsure due to a total bike loss from a bicycle accident shares their claim experience, "Bicycle Accident! BikeInsure was the best $25 bucks I ever spent."

BikeCoverage Annual Aggregate Limit

How much money will I receive if my bike is stolen and I have bike theft insurance?

The optional Bike Theft Insurance has a $10,000 per bike annual aggregate limit and a $250 per occurrence deductible.

If the covered bicycle or eBike gets stolen, the insurance will pay the amount necessary to replace the bicycle with a current market substantially identical like the kind or quality bike less the per occurrence deductible, not to exceed the stated limit of insurance.

A BikeInsure customer recently shared their experience, "My eBike was Stolen! The Reality of Bike Theft Insurance," after filing a claim for the theft of their 2022 Specialized Vado eBike. The cyclist purchased the electric bike for $4,300 and had four non-stock accessories listed on the "Bicycle Definition" of the "Equipment Schedule" of their separate bike insurance policy.

"I had my eBike insurance with BikeInsure for just six months and spent under $150 in premium paid for 'peace of mind' coverage that was realized when a check arrived with a letter that stated, "We issued payment in the amount of $4,712.16 for the covered equipment.

Specialized Turbo Vado Theft Claim Paid $4,712

"My BikeInsure'd bicycle was recently stolen when a thief violated my life and stole my bike, which had my prosthetic arm still attached to the handlebar while I was training for the Paralympics. BikeInsure promptly paid me $10,000 just days after I filed my claim. The claims adjuster was kind and efficient. I was relieved and grateful for the quick and compassionate service I received from BikeInsure."

Stolen 2022 Pinarello Dogma Serial #2P15150902052

By selecting the optional Bicycle Theft Insurance for just $8 per month during enrollment, the $10,000 annual aggregate limit is extended to cover the listed bicycle or eBike in case of theft.

TheftProtect Annual Aggregate Limit

Do bicycle owners with homeowner's insurance need to buy separate bike insurance?

Yes! Hello there, I'm Buzzy Cohn, the Founder and CEO of BikeInsure. I am happy to share how my bike crash experience as a homeowner with a bicycle led me to create America's best standardized Bike Insurance. A cyclist must have a separate bike insurance policy for your bicycle or eBike alongside your home insurance policy. BikeInsure offers complete coverage for your bicycle or eBike, protecting your valued equipment from accidents and providing the option to safeguard against theft. The best part about filing a bicycle accident or theft claim with BikeInsure is that it won't affect your other insurance policies.

BikeInsure CEO

Home Insurance is Insurance for a Home!

Homeowners should view their insurance as protection against catastrophic losses instead of covering bicycles. Here are six top reasons recommended by insurance experts.

1) DEDUCTIBLE - Firstly, it's important to note that the standard deductible for homeowner's insurance is typically between $500 to $2,500, with higher-valued homes sometimes having deductibles of $5,000 or more (PolicyGenius.com and USnews.com).

  • separate bike insurance policy from BikeInsure has a $100 'Bike Coverage' deductible.

2) PREMIUM INCREASE - Home insurance premiums often increase during policy renewal when a homeowner files a claim.

  • Separate bike insurance from BikeInsure safeguards your homeowner's insurance. Bicycle claims filed with a BikeInsure policy will not affect any other insurance policy.

3) NON-RENEWAL - Home insurance companies may have to cancel or non-renew a policy if multiple claims are filed within three years, even if the homeowner has consistently paid their premiums.

  • Separate bike insurance is essential to prevent the loss of homeowner's insurance due to a few bicycle accident or theft claims.
Homeowner's Insurance Non-Renewal

4) CLUE REPORT - Lastly, insurance companies use a database called CLUE (Comprehensive Loss Underwriting Exchange) generated by LexisNexis to access consumer claims information when underwriting or rating a home insurance policy, which can impact a homeowner's eligibility for coverage.

  • separate bike insurance policy from BikeInsure is 'The Better Way' to protect your bicycle or eBike against riding, transit, or theft risks while safeguarding your homeowner's insurance policy.

5) BICYCLES - Even though insuring your bike with your home insurance policy may be insufficient due to personal property limits and exclusions, the costly context of Deductible, Premium Increase, Non-Renewal, and CLUE Report makes a separate bike insurance policy an essential need. 

  • separate bike insurance policy from BikeInsure is a better option to provide adequate coverage for your valued bicycle or electric bike and its accessories.

6) ELECTRIC BIKES - eBikes typically have a home insurance exclusion.

  • separate bike insurance policy from BikeInsure covers Class 1, 2, or 3 electric bicycles for $16.99/mo.
Discover the Top 5 Benefits of Bike Insurance for Cyclists with Homeowners Insurance to learn more.
Bike Insurance for Cyclists with Home Insurance

BikeInsure has received valuable feedback from its customers, who have shared their experiences and reasons for obtaining a separate bike insurance policy for their bicycles and e-bikes. The input highlights the importance of securing such coverage, regardless of homeowner's insurance.

Specialized Tarmac Bike Insurance

My wife came across BikeInsure after I purchased a new Specialized Road Bike. Our home insurance agent advised us to obtain a separate bike insurance policy to protect our bike in case of any damage or theft. Our home insurance agent warned us that filing a claim on our home policy would skyrocket our premium, and multiple claims would put our homeowner's insurance in jeopardy of cancellation.

Therefore, we decided to insure my Tarmac SL8, Roval Rapide Wheelset, and other bicycle accessories with BikeInsure. Knowing that BikeInsure is the official insurance partner of USA Cycling reassured us of our decision.

Specialized Levo Comp Bike Insurance

I had a difficult time finding insurance that would cover my E-Bike. I thought my homeowners would cover any loss or theft, but to my surprise, they denied coverage in all capacities.

At the beginning of my search, I found other online bike-specific insurance too costly. Then, I came across BikeInsure and decided to give them a call. I spoke with the BikeInsure CEO for quite some time. He was very helpful in explaining to me in great detail the ins and outs of insurance, especially for bicycles. The process was simple, and I found the amount of coverage and the monthly cost to be of good value. I feel secure knowing I have a great policy to protect my much-loved E-bike!

Thanks, BikeInsure, for providing a great product!

Trek Emonda Bike Insurance

I came across BikeInsure via USA Cycling and switched my bicycle insurance to them. Even though I had been using my Liberty Mutual homeowners insurance, paying additionally for my bikes listed as Scheduled Personal Property before, I found that BikeInsure offered more comprehensive coverage, a lower deductible, and a more affordable rate.

I received a call to welcome me from BikeInsure, and they were so helpful! Hearing that getting a separate bike insurance policy was the best way to insure my bicycle made a lot of sense. The brilliant part is, if I ever need to file a claim on my Factor Vista through BikeInsure, it won't affect my home insurance policy at all!

A few days after insuring my Factor bicycle with BikeInsure, I added my Trek Emonda SLR7 to a policy for 'peace of mind' coverage of both bikes.

I now have a Liberty Mutual Home Insurance Policy for my house and a BikeInsure Policy for my bikes! This way, I can protect my bikes with BikeInsure while safeguarding my homeowner's insurance because making multiple claims on my home policy could cancel my home insurance.

Even if you have homeowner's insurance, it's worth getting BikeInsure for your bike!

Fizzari Wire Peak Bike Insurance

I went through my Allstate Homeowners Insurance Policy for bike coverage in California with my insurance agent. I discovered that it does not protect the theft of my bicycle if it gets stolen away from my residence.

We looked further into the Allstate coverage of an electric bike because I own a Mountain eBike, and we found the Allstate policy excludes eBikes, "Property we do not cover," is "Motorized land vehicles, including, but not limited to, any land vehicle powered or assisted by a motor or engine."

BikeInsure is the ideal eBike insurance solution.

Specialized Tarmac Bike Insurance

My wife had a bike accident, leaving her Trek Domane bicycle with a cracked carbon frame. We live in California, where several Insurance Carriers have stopped selling new home insurance policies. As a result, although our Farmers insurance may have covered the claim, we realized that doing so, as our agent agreed, could cancel our homeowner's insurance policy. Therefore, we paid out-of-pocket to replace my wife's bicycle and decided to get a separate bike insurance policy for my Specialized and her Trek.

We ordered a new bike from the Project One department with a custom tie-dye paint scheme. Once we received it, we insured it with BikeInsure to protect ourselves from future financial burdens. Now, if any accident happens, we'll only have to pay a $100 deductible instead of the thousands it costs to replace a nice bike. Now, our bicycles are insured, and our homeowner's insurance will remain unaffected by our bikes.

Our lesson learned was our homeowner's insurance policy could not cover our bikes, and that realization cost us a lot of money. We confidently chose BikeInsure because it is the only bicycle insurance company endorsed by USA Cycling.

How easy is it to sign up for separate bike insurance?

BikeInsure aims to provide easy enrollment in comprehensive bicycle insurance for all US adults who own a bicycle or eBike. The product is simple, with monthly payments for your insurance premium without any extra fees.

Signing up with BikeInsure is a simple and quick process. All adults 18+ years old and with a residential address in the United States can enroll for BikeInsure in under two minutes. You simply provide basic information about yourself, identify your bicycle or eBike, agree to the terms of use and certification, and then submit the payment using your credit card.

The policy is issued for annual policy periods with automatic ongoing renewal to ensure continuous protection.*

*Policies will automatically renew for additional one-year terms as long as the policyholder continues to meet the insurer's underwriting guidelines and standards.

BikeInsure Annual Policy, Monthly Payments

Where can a cyclist find a sample bike insurance policy to review?

Please click Specimen Policy Sample to review.

Top 10 Bicycle Insurance Highlights of BikeInsure Sign-Up:

  1. For a nominal $16.99 monthly recurring credit card charge, the bike or eBicycle is insured.
  2. Optional Bike Theft Insurance may be added for $8 monthly.
  3. New and used bicycles or eBikes are eligible.
  4. Multiple bikes or eBicycles may be enrolled.
  5. Bicycle Insurance Coverage is application only.
  6. No credit reports are required.
  7. No social security numbers are requested.
  8. No credit-based insurance scores are necessary.
  9. No additional underwriting requirements.
  10. The BikeInsure plan is underwritten by AM Best ‘A+’ (Superior) Great American Insurance Company. For 152 years, Americans have trusted Great American Insurance Company to protect them and render best-in-class service.
BikeInsure Sample Policy

How do I get BikeInsure?

Got Bike or eBike?
Click Get BikeInsure Button to Sign-Up

Ready for bike insurance?

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Coverage Highlights
The TheftProtect icon
with optional
+ $8/mo.
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