Does Car Insurance Cover Stolen Bicycles?

Riding a bike is a great way to get exercise, reduce environmental impact and avoid traffic. But what if someone swipes your wheels? Can you make an insurance claim for a stolen bicycle? Typically not under auto policies, but other options may reimburse you.

Why Bicycles Get Stolen

Unfortunately bicycle theft is quite common with over 2 million bikes stolen annually in North America. Thieves target bicycles for a few key reasons

• High value – Quality bikes sell for hundreds or thousands of dollars. So they can fetch a nice profit for criminals.

• Easily portable – Bikes are lightweight and have wheels, so thieves can quickly roll them away unnoticed.

• Minimal security – Most bicycles are secured with a basic lock if anything at all. So they’re easier to steal than a car.

• Hard to identify – Without license plates or VIN numbers, it’s difficult to prove a recovered bike belongs to someone.

• Good resale market – Secondhand bikes and parts are in high demand and easy to sell online or to pawn shops.

With bicycles being an attractive target, you need to consider insurance in case yours gets pinched.

Does Auto Insurance Cover Stolen Bicycles?

Auto insurance follows your car. It does not extend to other vehicles or property you own. So if your bicycle is stolen, even from your vehicle, you cannot file a claim under your car insurance policy.

The main coverages in a standard auto policy are:

• Liability for injuries or damage you cause with your car

• Collision to repair damage to your own vehicle after an accident

• Comprehensive for damage to your car from non-collision events like theft, vandalism, weather, fire, etc.

• Medical payments or personal injury protection (PIP) to cover medical treatment for you and passengers

• Uninsured or underinsured motorist to protect you if hit by an at-fault driver with insufficient insurance

None of these apply when your personal bicycle is stolen. The bicycle itself is not an insured vehicle under the auto policy, so there is no coverage for damage or theft of it.

Filing an auto claim for a stolen bike will be denied. However, you may have options under your homeowners or renters insurance.

Home Insurance Offers Theft Protection

While auto policies only cover vehicles, home insurance covers your personal property inside the home. This includes your bicycle if it was stored in your house, garage, shed, or another structure on the residential premises.

Personal property coverage pays to repair or replace belongings that are stolen, vandalized or damaged. This covers things like clothes, furniture, electronics, sports equipment, and of course, bicycles.

Coverage is based on actual cash value at the time of loss. So you will get reimbursement based on the current value of your bike, factoring in depreciation over time.

Many policies have a deductible, such as $500 or $1000, that you must pay out of pocket before insurance kicks in. Make sure the value of your bike exceeds the deductible, or insurance won’t pay anything.

There may also be a maximum limit for bicycles, commonly around $1,000 – $3,000. Higher end policies or add-on endorsements may offer more, such as $5,000. Inventory any expensive bikes or accessories to ensure adequate coverage.

Does Home Insurance Cover Bikes Anywhere?

Standard home insurance will cover theft of your bicycle from the home premises, including any outbuildings. But what if it’s stolen when you ride it around town or park it outside a store?

Unfortunately home insurance does not cover personal property away from the insured residence. So if your bike gets swiped while chained up downtown, you can’t file a homeowners claim.

However, some insurers offer special endorsements to extend certain coverages beyond the home grounds. Two options are:

• Scheduled Personal Property – Covers specifically identified higher-value items like jewelry, musical instruments, golf clubs, bicycles when they are away from home.

• Replacement Cost – Provides full new replacement cost for stolen items, without depreciation, including when loss occurs away from home.

Adding one of these endorsements will provide protection for your bicycle wherever it goes. But it will increase your homeowners premium.

Renters Insurance Also Covers Stolen Bicycles

Renters insurance works similarly to homeowners insurance, covering theft and damage to personal belongings in the rental unit and sometimes beyond. If your bicycle is stolen from inside your apartment, you can file a claim just like a homeowner would.

In fact renters insurance may be even more important for covering bikes. Many landlords require tenants to purchase a policy to avoid liability for items in the rental. And renters tend to have fewer security measures like alarms and cameras to deter theft.

The same rules apply in terms of deductibles, limits, proof of value, and extensions for off-site coverage. Renters insurance gives bicycle owners an affordable way to protect their investment and transportation.

Tips for Insuring Your Bicycle

Follow these tips to make sure you have adequate coverage in case your wheels get stolen:

• Insure it under homeowners or renters policy – This covers theft from the residence.

• Ask about special limits and deductibles for bikes – Don’t assume standard coverage limits apply.

• Add scheduled personal property or replacement cost endorsement – Extends coverage away from home.

• Itemize make, model, and value – If over about $1,000, list it separately on your policy.

• Keep ownership documentation – Maintain receipts showing original value.

• Take photos or video – Document the make, model, and serial number.

• Register the bike – Services like BikeIndex.org create a record with identifying details.

• Use a quality U-lock – Make it more difficult for thieves to grab your bike.

• Don’t leave it unattended – Lock up anytime you’re not riding, and for short durations only.

With the right insurance arrangements, you can ride worry-free and recover from bike theft more smoothly. Just don’t expect your car policy to pick up the tab!

Filing an Insurance Claim for a Stolen Bicycle

If you discover your bicycle missing, follow these steps to make an insurance claim:

1. File a police report immediately to create a record of the theft. This will be required for your claim.

2. Determine the replacement cost – Check recent sales of similar new bikes for the current value.

3. Review your insurance deductible and limits – Make sure there’s adequate coverage to make a claim worthwhile.

4. Call your insurance company – Notify them as soon as possible and start the claims process.

5. Provide details – Have the make/model, serial number, approximate value, police report case number, and date it was discovered missing.

6. Send proof of ownership – Supply any receipts, photos, manuals, or registration records you have.

7. Get replacement approval – You’ll be reimbursed the agreed replacement amount (up to your limit) after you pay the deductible.

8. Buy a new bike – You aren’t required to purchase the same make/model.

9. Submit receipts – Send the sales receipt to your insurer for reimbursement.

10. Receive claim payment – This will come after the deduction for your deductible.

It’s not the ideal way to get a new bike, but at least insurance can ease some of the monetary sting if your wheels get stolen. Just be sure to take precautions like U-locks and registering your bike to deter thieves. And review your policy annually to keep your bicycle properly covered.

Is Separate Bicycle Insurance Worthwhile?

Some riders consider getting standalone insurance just for their bikes. This can cover higher value bicycles, provide global coverage anywhere, include liability protection, cover components, offer flexible depreciation, have lower deductibles, etc.

Benefits of separate bicycle insurance can include:

• Coverage for new replacement cost rather than depreciation

• Protection when riding far from home or on cycling vacations

• Zero deductible options

• Coverage for components not just frame/wheels

• Liability for damage caused while cycling

• No exclusions for professional racing

• Flexibility for custom, antique, or rare bikes

The downside is that premiums for standalone bicycle insurance are generally more expensive than a home insurance rider. Policies may run $150 – $500 per year depending on value, coverage, deductible, and insurer.

Whether it’s worthwhile depends on how much you ride, the bike’s value, and holes in your existing coverage. For an everyday commuter bike worth under $2,000, a homeowners rider is probably sufficient. But competitive cyclists with $15,000 custom rides may appreciate specialized bicycle insurance.

Preventing Bicycle Theft

Ultimately the best solution is avoiding theft in the first place. Some deterrents include:

• Park in busy visible areas covered by security cameras if possible.

• Always lock your bicycle, even if just for a few minutes.

• Use a U-lock rather than an easy-to-cut cable lock.