Do I need Bike Insurance if I have Homeowners Insurance?

Yes! Insurance experts recommend homeowners view home insurance as protection against significant home losses rather than as coverage for items like bicycles, even with a scheduled insurance rider.

‍Bicycle and e-bike owners should obtain a separate bike insurance policy, like BikeInsure, to protect their valuable bikes against the costly financial risks associated with riding, transit, and theft that all bike owners in the United States face.

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BICYCLES - While insuring your bike with your home insurance policy may not provide sufficient coverage due to personal property limits (for example, a $2,500 limit) and exclusions, it's crucial to consider what happens when a bicycle accident happens while riding or transit, or if theft occurs!

Why risk it? If a bicycle claim occurrence is covered by the homeowner's policy, even with a scheduled Rider for the bike, the costs associated with Homeowners or Renters insurance CLAIMS are:

• Premium Increases,
• Non-renewal: Cyclists refer to as Cancellation and 
• CLUE Reports: Consumers Claim Information when underwriting or rating a home insurance policy, which can impact a homeowner's eligibility for coverage. Cyclists refer to the CLUE Report as UNinsurable with a Private Insurer!

Note: Scheduling a non-electric bicycle as a Rider on a home insurance policy may increase the bike's coverage limits and even lower the homeowner's insurance deductible for the scheduled bicycle. However, home insurance claims still jeopardize your homeowner's insurance policy because they lead to higher homeowners' premiums and non-renewal (cancellation) of the home insurance policy.

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ELECTRIC BIKES - Homeowners' insurance policies often exclude e-bikes as homeowner's property that is not covered because e-bikes are classified as motorized vehicles.

BikeInsure is a cost-effective, standalone, primary insurance solution for your bicycle and electric bike. The BikeInsure smart alternative provides the protection you need without compromising your homeowner or renters insurance.

Click here to review the "Top 5 Benefits of Bike Insurance for Cyclists with Homeowners Insurance."

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