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Isn't my bicycle covered under my homeowners insurance?
While your bicycle may have some coverage under your homeowners policy, there are usually restrictions on the value of the bike and the types of losses that would be covered. With a bicycle insurance policy from Markel, your policy is built specifically for you and your bike. Plus, having a bicycle policy means your homeowners insurance rates may not increase if you file a claim involving your bicycle.
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What happens when I buy a new bike?
Whether you're replacing your current bicycle or adding to your collection, we can automatically extend your current coverage to the new bike for up to 30 days from the time of purchase. Just let us know before the 30 days are up for coverage to extend beyond that time.
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What about my apparel? Spare parts? Do you cover these too?
If you purchase bicycle physical damage coverage and your bicycle is involved in a covered loss, apparel and spare parts may be covered. We automatically include coverage for spare parts (replacements for items that are normally part of the insured bike but were not on the bicycle when the loss occurred) and apparel (clothing or gear worn exclusively when riding the insured bicycle). Both coverages have a separate limit of $500 per loss and a $1,000 limit for the policy period.
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Do you insure electric bikes?
We can insure bicycles with an auxiliary electric power assist that does not exceed 750 watts and 28 mph.
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How much coverage do I need?
“It depends” isn't what you want to hear, but it's the best way to answer the question. Every cyclist, bike and situation is unique. Your insurance coverage should reflect that. It's important for you to evaluate your individual needs and your personal level of comfort when it comes to risk. From there, you can start to look at coverage options and policy limits. If you need help, feel free to contact our bicycle insurance team at +1.855.480.9759.
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Do you offer coverage for my car rack?
Sorry, there is no coverage for your car rack on our bicycle insurance policies. However, check with your car insurance company, as coverage is usually provided there.
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How much would it cost, on average, to insure my bicycle for a year?
Every cyclist and bicycle is unique. The coverages you select, the type of bike you purchase and how you ride are just a few of the many factors that determine the cost of insurance. However, in just a few minutes you can find out exactly how much it would cost to insure your bicycle for a year. All you have to do is complete a bicycle quote online or call one of our insurance specialists at +1.855.480.9759.
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Am I covered while riding in a race?
Typically there is no racing exclusion, so any coverages (i.e., bicycle physical damage coverage, bicycle liability coverage, medical payment coverage and vehicle contact protection) purchased on your Markel bicycle insurance policy are in full force while you're competing in a covered event.
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What happens if I am hit by a car while riding my bike?
We offer several coverage options to help protect you and your bike, such as medical payments, vehicle contact protection and bicycle physical damage protection.
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Where am I covered? Are cross-country bicycle trips allowed, or is it only in my state?
Taking your bike across the country is one of the most alluring parts of riding. That's why our policies automatically allow you to ride in all 50 states (Alaska and Hawaii included). We even throw in Canada. You also have coverage for your bicycle while it's in transit (by land or air) to and from a location within the United States and Canada. You also have the option to extend your bicycle physical damage coverage worldwide by purchasing our optional worldwide physical damage coverage extension.
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Is the bicycle I rent covered by my insurance?
With our bicycle physical damage coverage, we can provide reimbursement for your bike rental if your insured bicycle is sidelined due to a covered loss or breakdown while you are participating in an organized or competitive event more than 50 miles away from home. Should that happen, we'll provide the same coverage to your rental/substitute bike that you have on the insured bicycle. (The temporary/substitute may not be owned by you and must be used with the permission of the owner.) Sorry, we don’t provide coverage for renting a bicycle on vacations.
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Can I pay online?
Absolutely, just log in to My Account. From there, you can decide if you want to make a payment with a credit card, debit card or checking account. You can decide if you want to make a one-time payment or set up automatic recurring payments, so you never miss a payment.
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How do I file a claim?
We make filing a claim as easy and quick as possible. If you do have an accident, you can submit your claim online or call us at +1.855.480.9759.
Bicycle insurance
PROVIDED BY MARKEL
Bicycle and e-bike insurance designed for the way you ride.
Welcome USAA members
Markel is proud to collaborate with USAA Insurance Agency in providing specialized bicycle and e-bike insurance to USAA members.
Transportation. Recreation. Fitness. Competition. Relaxation. No matter your reason for riding, Markel understands that your bike matters to you. With over 10 years of experience in specialized bicycle insurance protection, we offer customized coverage to fit you, your bike and your riding style—as well as important things like spare parts, cycling apparel and accessories.
Customized coverage
We provide customized insurance protection based on each cyclist’s riding style, even if you participate in race events. We offer coverage for cycling apparel and spare parts, coverage while in transit and more.
Coverage for e-bikes
Electric bike insurance does exist! Markel offers specific protection to cover the gaps and fine print exclusions between auto, home and renters insurances.
Knowledgeable customer service
Our dedicated bicycle insurance team will work with you to ensure you get the exact coverage that best fits your bike and your riding style.
Why do you need bicycle insurance?
If you’re like most cyclists, you may assume you and your bike are covered under your homeowners or renters insurance policy. But if you ever need to file a claim, you may discover that your current policy contains exclusions and restrictions that could limit what you get in replacement costs for your damaged bicycle.
See how an average homeowners insurance policy stacks up against Markel's bicycle insurance:*
| Policy coverage | Average homeowners policy | Markel bicycle policy |
|---|---|---|
| Insured at full value** | Not likely | Yes |
| Crash damage | No | Yes |
| Theft coverage | Limited | Yes |
| Theft away from home | Limited | Yes |
| Vehicle contact protection | No | Yes |
| Personal liability | Yes | Yes |
| Replacement bike rental | No | Yes |
| Event fee reimbursement | No | Yes |
| Cycling apparel | Not likely | Yes |
| Medical payments | Not likely | Yes |
| Racing coverage | No | Yes |
| Spare parts insured | Not likely | Yes |
| Covered in transit | Not likely | Yes |
| Worldwide physical damage | Not likely | Yes |
| Roadside assistance | Not likely | Yes |
| Coverage for electric bikes | Limited | Yes |
Provided for illustrative purposes only. *Terms and conditions may vary. **Your homeowners coverage may not be designed to cover your bike at full replacement cost, typically actual cash value (ACV) is offered.
What can bicycle insurance cover?
Bicycle physical damage insurance protection
Our coverage includes the repair or replacement of your bike if it is damaged or goes missing. You provide the value limit of your bike, and we can cover things like vandalism, crash damage or a collision with another rider. We even offer insurance protection to you while racing.
Deductibles range from $200 to $500. At no additional cost, bicycle physical damage insurance protection can also include:
- Protection for spare parts and accessories: Up to $500 in coverage for spare parts, and up to $500 for riding apparel per claim ($1,000 total per policy term).
- Replacement cost coverage: Your bike is insured at full value.
- Theft protection: We insure against theft, either at or away from home.
- Transit protection: Protect your bike while in transit (by land or air), to and from locations within the United States and Canada.
Worldwide physical damage protection
Optional worldwide physical damage insurance protection is available to cover you when traveling outside of the U.S. and Canada with your bicycle.
Bicycle liability protection
Bicycle liability protection helps cover you if you are responsible for injuries or property damage to another person or their belongings while using your bicycle. Limits range from $25,000 to $300,000.
Vehicle contact protection
This added coverage gives you the insurance protection you need if you’re struck by a vehicle that doesn’t carry the proper insurance protection to cover your losses. Limits range from $10,000 to $25,000.
Medical payments
May cover your medical costs if you are injured while riding, with limits ranging from $1,000 to $10,000.
Roadside assistance
With this coverage, you’ll get nationwide 24-hour emergency service with up to 35 miles of transportation per breakdown (up to 5 tows per year) – all for only $12 a year per bicycle.
Markel offers coverage for three classes of e-bikes:
- Pedal assist e-bike with top assisted speed of 20 mph
- Throttle assist e-bike with top assisted speed of 20 mph
- Pedal assist e-bike with top assisted speed of 28 mph
Note: Electric bike motors must be 750 watts or under.
At no extra cost!
Rental reimbursement
If you are competing in an organized ride more than 50 miles from your home, we offer coverage for renting a substitute bicycle if your bike was damaged or stolen (up to $250 per occurrence) while at the event.
Competitive event fee reimbursement
We will help cover nonrefundable prepaid entry fees (up to $500, $1,000 total per policy term) if your bike is involved in a covered accident and you’re unable to compete or participate.
Bicycle insurance policies as low as $100 per year.†
Frequently asked questions about bicycle insurance
Bicycle insurance doesn't need to be complicated. Explore the most commonly asked questions about bicycle insurance, and get the answers you're looking for.
†As of December 2023, the minimum annual premium is $100 and rates could exceed $100 depending on the coverage options selected and value of the bicycle to be insured.