Bikes can cost thousands of pounds to replace if they are damaged or stolen, but having a bicycle insurance policy could cover the cost. It can give you financial protection against:

  • Theft

  • Accidental or malicious damage

  • Personal accidents

  • Third party liability

Some policies can also cover things like bike hire, accessories and taking part in competitions like time trials, road races and triathlons.

Think about what protection you need from your bike insurance before you start comparing policies, so you know exactly what to look for.

Shop around to find the best policy

To find the right policy you should consider:

  • Maximum cover: This is the most an insurer will pay out to repair or replace your bike. Get a policy that can cover the full value of your bike if you need a new one.

  • Personal accident cover: This is how much you can claim if you have an accident and are seriously injured, for example losing a limb or being made paralysed.

  • Excess: This is the amount you have to pay towards a claim, so look for the company that charge the lowest excess. Find out how bike insurance excess works here.

Find the policy that offers all the cover you need at the cheapest price.

Are you already covered?

If you have a home contents insurance policy, your bike might be covered against theft and malicious damage already.

However, most contents policies will not cover expensive bikes, or when you take them away from home, unless you pay extra.

If you have a bike worth over £2,000 that you use regularly to get around, or if you take part in competitions, bicycle insurance will give you the best cover.