Do I need bicycle 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. You can add multiple bikes to your policy. Our maximum pay-out for successful claims is £1,500 for one bicycle, £3,000 for multiple. As always, there is small print. Successful claims are subject to an excess fee, and there are limits to what we can cover.

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 £1,500, per claim.
  • Limit for multiple bicycles of £3000, 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 or secured by a suitable locking device to a permanent structure or motor vehicle.
  • 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 bike cover?

No. AXA bicycle cover is an optional extra, so won’t be included in your policy. But once you’ve purchased it, your bike will be protected whether it’s taking you to work, inching you up a mountain or locked inside your front porch.

Interested? It takes two ticks to strap bicycle cover onto your existing plan. Just head to the policy section of your online account.

How much is bicycle insurance?

As always, our insurance premiums differ according to your needs. To make sure you pay a fair price, we’ll run some checks before calculating your quote. To speed things up, just have the following info to hand: what’s your bicycle’s value? How many bicycles you wish to cover? What’s the make and model of your bike? We can then ready up a quote and get your bicycle protected in no time.

Interested in bicycle cover? It takes five minutes to add it your policy. Head to your online account to get started, or get a quote if you’re interested in an AXA home insurance plan.