Homeowners insurance protects your personal property, including bikes, from theft and damage by covered perils like fire, vandalism, and weather-related damage. If you accidentally injure another person with your bike, your policy’s personal liability coverage can help pay for their medical expenses or legal fees if they file a lawsuit against you.
Depending on your insurance company, your bike may have a coverage sublimit, meaning the maximum amount an insurer will pay you out for bike damage or theft. You may be able to schedule an endorsement to your policy for more comprehensive coverage for your bicycle.
Key takeaways
Your homeowners policy will cover your bike, both on and off of your property, if it is stolen or damaged by a covered peril, like fire or vandalism
Bicycles typically have coverage sublimits, meaning a maximum amount your insurer will pay you out for a covered loss
You may be able to schedule an endorsement to your policy to increase coverage limits for your bike
If you accidentally injure someone with your bike or damage their property, your policy’s personal liability coverage may help pay for legal fees or medical expenses
When does homeowners insurance cover bikes?
Bikes are covered by the personal property coverage component of your homeowners insurance policy. That means if your bike is vandalized or damaged in a fire or storm, you’d be able to file a claim with your insurance company. Keep in mind that you have to pay your deductible before your insurance company pays out the reimbursement. If the repairs to your bike are less than the cost of your deductible, you won’t be able to file a claim.
Personal liability coverage is the component of your policy that covers legal and medical expenses if you’re liable for accidental injury or property damage. If you accidentally injure another person with your bike, for example, you may be able to file a claim with your insurer to cover the cost of legal fees in the event of a lawsuit.
Each one of the six basic coverages in a standard homeowners policy has a limit of liability, which is the maximum dollar amount an insurance company will pay you for a covered loss. Certain personal belongings also have their own sublimits, or a cap on how much you’re paid out for that specific item or category of item.
Depending on the type of bicycle you own and your insurance company, the coverage sublimit for your bike may be capped at a price lower than what the bike is worth. If that’s the case, you can increase the bike’s coverage limits by listing it as a scheduled item in your policy.
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What kind of coverage do I need for a bike?
To increase the coverage limits on your bike, you’ll need to add it as a scheduled item to your policy. You can generally expect to pay around $100 for every $10,000 in coverage for your bike.
This type of endorsement also increases your “off-premises” coverage limit, which is typically $500. With scheduled personal property coverage, if your bike is damaged or stolen away from your residence, you’d be covered up to your scheduled property coverage limit. Depending on the insurance company, you may not have to pay a deductible if you have a scheduled property endorsement for your bike.
When does homeowners insurance not cover bikes?
Home insurance only covers your bike if it is stolen or damaged by a covered peril. For example, if you go off-roading or compete in a race and your bike is damaged by the terrain, you wouldn’t be covered because general wear and tear is listed as an exclusion on your policy. Your insurance company may also reject your claim if they learn you were negligent, like if you didn’t properly lock up your bicycle in a public setting.
Standard homeowners policies will outline a list of exclusions when your bike would never be covered, including:
Flooding
Earthquake or earth movement
Wear and tear over time
Maintenance issues
Frequently asked questions
Do I need insurance to ride a bicycle on the road?
No, states do not require you to carry insurance to ride bicycles on the road. State laws regarding bike riding safety may vary, but you won’t be required to carry an insurance policy on the bike like you do a car.
Does homeowners insurance cover electric bikes?
It depends on the insurance company, but you may be able to get a limited amount of coverage for property damage to or theft of an e-bike through your home insurance. However, because electric bikes are so expensive and have many different parts, you may want to consider a standalone e-bike insurance policy or a warranty. Keep in mind different states have regulations around what constitutes an electric bike — if it has a certain motor it could be considered a motorcycle or moped, which may require a separate insurance policy depending on the state.
Is my bike covered if I get into an accident with a car?
If someone hits your bike with their car, their auto insurance policy would likely pay for the damage to your bike and medical bills you incur if you were injured. If you’re at fault for the accident, your homeowners insurance may help cover the cost of property damage that you caused.
