Whether or not you can get bicycle insurance depends largely on where you live. Bicycle insurance policies are common in the UK and other European countries, but in the U.S., there is no form of specific bicycle insurance.
In the UK, for example, there are numerous companies that offer bike insurance policies. These policies cover everything from theft to damage to the bicycle and any fixed accessories. Some policies offer public liability protection to cyclists as well.
In the U.S., however, coverage for bicycles usually falls under the umbrella of other types of insurance coverage.
For example, homeowners insurance or renter’s insurance policies usually will pay to replace a bicycle that is stolen and may also cover damage. However, these policies may have deductibles that are too high to cover a bike. If your homeowners policy deductible is $1,000, then it wouldn’t be worth it to file a bicycle-related claim unless you had a very expensive bicycle.
Accident coverage is a bit more tricky. If you own a car and have auto insurance, your policy may also cover bicycle-related accidents. For example, if you are hit and injured by an uninsured driver and you have an auto policy that includes uninsured driver coverage, you would likely be covered. It’s a good idea, however to check your policy or talk with your agent about bicycle coverage in your policy. Any injuries also will be covered by health insurance, if you have it.
If you are a cyclist who does not own a car, your options are a bit more limited. You could get an umbrella policy, which provides additional insurance coverage beyond the existing policies you already have.
There are now some companies and organisations offering bike policies in the U.S., but it is a very limited industry. Such policies may be available through local or national cycling associations.