Customer and bicycle shop employee examining a bicycle together.

Thinking About Buying a New Bicycle?



Almost 2,000,000 bicycles are stolen in the U.S every year according to the National Bike Registry, and most of them were never seen again. With the increasingly popularity of cycling as both a sport and a means of transportation, bicycles have become a target for thieves.

Bicycles are stolen most often in densely populated areas such as cities and suburbs, but university and college towns are another hot spot, with bicycle theft representing over half of property crimes on campuses.

Bicycles are covered under the personal property section of standard homeowners and renters insurance policies. This coverage will reimburse you, minus your deductible, if your bike is stolen or damaged in a fire, hurricane, or other disaster listed in your policy.

There are two types of coverage for personal property:

Homeowners and renters insurance also provide liability protection for harm you cause to someone else or their property. So if you injure someone in a bicycle accident, and they decide to sue, you will be covered. This portion of your policy also includes no-fault medical coverage; in the event you injure someone, he or she can simply submit medical bills to your insurance company. This way, medical bills can be paid without having to go to court. You can generally get $1,000 to $5,000 worth of this type of coverage.

To make sure your bicycle is adequately protected, the I.I.I. suggests the following:

To protect yourself and your bike while cycling, follow some simple rules:

To learn more about bicycle theft and safety visit the National Highway Traffic Safety Administration.

Sources:Insurance Information Institute