Do I need bike insurance?

Although bike insurance isn’t a legal requirement in the UK, many cyclists crave a layer of protection beyond their lock and chain. And having bicycle cover makes sense. Even the humblest of two wheels can cost hundreds of pounds, and as Britain’s towns and cities become more peddler-friendly, your bicycle may be your second or even primary form of transport.

But for all its benefits (improved cardiovascular and mental health, to name just a couple), cycling does carry a risk. Accidents are commonplace, as is theft. According to the Crime in England and Wales survey, there were 271,000 incidents of bicycle theft between April 2019 and March 2020. For opportunist thieves even a Kryptonite is no deterrent. Wheels, saddles and handlebars can all be stripped from a locked frame.

Fortunately, AXA’s bicycle insurance protects you against these common incidents. What’s more, we insure everything from mountain bikes to folding Bromptons, so whether you’re a weekend roadie or a committed commuter, we’ll do our best to keep you strapped in and peddling on.

What does bicycle insurance cover?

AXA’s bicycle insurance protects you from theft; accidental and malicious damage; and loss, and that applies whether your bike is chained to the railings of your local café or locked within your home garage. Successful claims are subject to an excess fee, and there are limits to what we can cover. 

You'll get bicycle cover as standard, if you have contents cover with us. Our standard bicycle limits are shown below. If you have bicycles worth more than this limit, you'll need to add them to your policy for them to be covered - you can do this in your online AXA account.

There are limits to what we'll cover and if you do make a claim, you'll need to pay an excesss which is shown in your schedule.

Covered by AXA bicycle cover

  • Theft of your bicycles and their accessories; tools; cycling armour and guards anywhere in the world.
  • Loss of your bicycles and their accessories; tools; cycling armour and guards anywhere in the world.
  • Accidental or malicious damage to your bicycles and their accessories; tools; cycling armour and guards anywhere in the world.
  • Limit per bicycle of £350, per claim.
  • Limit for multiple bicycles of £1,500, per claim.
  • A 24/7 online account and a friendly, UK-based claims team.

Not covered by AXA bicycle cover

  • Loss or damage to tyres and accessories (unless the bicycle is lost or damaged at the same time).
  • Loss or damage to bicycles being used for racing, pace making or trials.
  • Theft, loss or damage of an unattended bicycle, unless it’s in a locked building, locked motor vehicle, or secured by a suitable locking device to a permanent structure or a motor vehicle; or when mounted on a motor vehicle unless both the bicycle and the mount have a suitable locking device in operation.
  • Cleaning, maintenance, repair, dismantling, altering or dyeing of your bicycle.
  • Mechanical or electrical breakdown or failure. Insects or vermin damage.
  • Customs or other officials confiscating or keeping hold of your bicycle.

Does my home insurance include bicycle cover?

Yes. Bicycle cover is included as standard when you purchase contents insurance. It provides cover at and away from the home for bicycles worth up to £350 each (up to a total of £1,500). 

You may cover bicycles worth more than £350 each but these must be specified on your policy. Where accepted by us, an additional premium may also be charged for this.

Please note that bicycles valued at more than £350 which have not been specified on your policy will not be fully covered in the event of a claim.

How much is bicycle insurance?

As always, our insurance premiums differ according to your needs. You don't need to tell us about bicycles worth less than £350 each as these will be included in your price. If you need to specify bicycles, just have the following info to hand:

  • Your bicycle’s value (including any bicycle accessories) 
  • How many bicycles you wish to cover 
  • The make and model of your bike

Get your bicycle protected in no time. Head to your online account to get started, or get a quote if you’re interested in taking out an AXA Home Insurance plan.