How Smart Bike Businesses Secure BikeInsure Commercial Fleet Insurance

How Smart Bike Businesses Secure Their Commercial Fleet with BikeInsure

BikeInsure, an insurtech company that specializes in bicycle insurance for 'consumer use' bikes and e-bikes in the United States, has launched its Business Bike Fleet Insurance for 'commercial use' bikes and e-bikes. While BikeInsure has been offering commercial bike fleet insurance since 2021 on a call-in basis, it is now accessible at BikeInsure.com/Fleet for information and inquiries.

Bike fleet insurance is essential for micro-mobility businesses operating bikes, e-bikes, and e-cargo bikes. It protects against accidental damage and theft, offering a valuable solution for leasing, rentals, subscriptions, loaners, financial services, and various other commercial applications. This coverage helps businesses manage their financial risk exposure for their fleet.

In fact, our first Business Bike Fleet Insurance partner was The Sweet Spot, which initially offered a subscription-based service featuring full-service packages that included high-end bicycles, delivery, maintenance, and insurance. This service later evolved into a bike leasing financial services company that partners with bike brands and retailers. The company operates as a plug-and-play lease origination and management platform, utilizing the BikeInsure integrated API to seamlessly fit into the existing checkout workflows.

"BikeInsure's embedded insurance provides our customers seamless peace of mind by integrating risk protection as a bundled offering in all of our leases. Their solution offers comprehensive insurance coverage for our leased bikes and eBikes, ultimately removing a huge friction point in our customer's decision-making process by removing yet another barrier to getting on the saddle," said Ryan Fishel, CEO of The Sweet Spot.

"BikeInsure's comprehensive bike insurance covers accidents that may occur during riding or transit, as well as theft. Additionally, lessees enjoy the peace of mind that any claims for a leased bicycle through BikeInsure will not impact their other insurance policies or the terms of their lease. The BikeInsure embedded insurance has truly made hassle-free cycling a reality for modern bike leasing at The Sweet Spot."

"The Minneapolis Cargo Bike Library was referred to BikeInsure for bike fleet insurance earlier this year," according to founder Laura Mitchel. "Unfortunately, while the quote was being reviewed by the interested parties, a thief broke into a locked garage overnight, pried open the garage door from the outside, and stole $6,000 worth of bikes. This was pretty devastating for the organization. Thankfully, with BikeInsure, we now have our collection of e-bikes insured. The process was straightforward. We simply provided a quote signature, an accurate bordereau spreadsheet of our inventory, and the start date."

Business Bike Fleet Insurance is designed for 'commercial use' bicycles. This coverage protects your business-owned bike fleet, including e-bikes, during the time they are used by others with your permission while under their care, custody, and control.

Business Bike Fleet FAQ

What is the difference between Bike Fleet and Bicycle Insurance?

Business bike fleet insurance is designed for 'commercial use' bicycles. This coverage protects your business-owned bike fleet, including ebikes, during the time they are used by others with your permission while under their care, custody, and control.

On the other hand, BikeInsure offers bicycle insurance specifically for cyclists using their bikes for 'private use' purposes. This includes a variety of activities such as casual rides, competitive events, on-road or off-road cycling, solo rides, group outings, commuting, charity events, gran fondos, triathlons, and cycling races. Notably, acting as a professional cyclist is not considered commercial use and may be covered by BikeInsure insurance for cyclists. Once enrolled, the bicycles or ebikes are covered when used by the insured or family members of the household.

Why choose BikeInsure for Business Bike Fleet Insurance?

BikeInsure is fully committed to providing insurance solutions specifically for cyclists who own bikes and ebikes for personal use, as well as businesses that operate fleets of bikes and ebikes for commercial purposes.

BikeInsure will enhance engagement with commercial fleets through a monthly bordereau spreadsheet reporting process for small fleets, or by integrating with a company fleet management system to enable fully automated API efficiencies for larger fleets.

Doesn’t my business insurance cover my bikes? 

Many business insurance policies cover bicycles kept at the primary business location, and from events such as a fire that hits the business location, they often exclude accident and theft coverage when the bikes are used by others with permission, and they typically come with high deductibles.

In contrast, BikeInsure's business bike fleet insurance is specifically designed to cover the bicycles when they are primarily assigned out to others. This policy excludes coverage for criminal acts committed by individuals to whom you have entrusted the equipment. BikeInsure’s fleet insurance offers comprehensive coverage for accident damage and theft for each bike listed in the fleet inventory. This coverage also applies while the bikes are in the care, custody, and control of authorized users, all with a very low per-occurrence deductible.

What support does a Bike Fleet Insurance client receive?

BikeInsure assigns a licensed insurance account manager to handle your commercial application and support your ongoing needs.

Who is the insurance company backing the Bike Fleet Policy?

The BikeInsure Bike Fleet Policy is administered by a licensed insurance producer, BikeInsure, the Official Bike Insurance provider of USA Cycling, International Mountain Bicycling Association (IMBA), and USA Triathlon.

The BikeInsure plan is underwritten by AM Best 'A+' (Superior) rated carrier Great American Insurance Company. (Rating affirmed December 11, 2024). According to AM Best, "An 'A+' (Superior) grade is assigned to insurance companies that have superior ability to meet their financial obligations."

For over 150 years, Americans have trusted Great American Insurance to protect them and render best-in-class service.