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I ride my bike at least 4 times ( 4 * 10 miles ) a week.

  1. Is there any bike insurance which covers both bike and life?
  2. Is there any bike insurance which also covers rental biking?
  • In the US: I don't recall ever seeing anything specific advertised. I think maybe once or twice I saw personal liability policies or something of that ilk advertised in cycling magazines. Generally the bike would be covered by a comprehensive homeowner's/renter's policy (but don't assume so without checking). And often such policies will cover liability should a rented bike be stolen. It's uncommon to find life insurance mixed in with other types. – Daniel R Hicks Mar 27 '17 at 4:13
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    You need to clarify whether you mean health insurance (for yourself); liability insurance (in case you hit someone or something); or theft insurance (if your bike gets stolen). – RoboKaren Mar 27 '17 at 5:56
  • You'll get some answers by ringing your insurer and asking, or by consulting their web site. – Criggie Mar 27 '17 at 9:05
  • I just found out that there are couple of companies providing Bike Insurance .. they cover only the bike .. not the person .. but thats okay.. – goofyui Mar 28 '17 at 15:50
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Is there any bike insurance which covers both bike and life?

The short answer to this is "yes".

Is there any bike insurance which also covers rental biking?

The short answer to this is "not that I know of".

The longer answers...

In general in the US, casualty (theft/loss), liability (payment to others when you are at fault), life, and health insurance are separate classes of policy. Many auto policies combine casualty and liability (and minimal health) coverage.

Often in the US, theft or damage to your bicycle will be covered under a homeowners or renters policy. Unfortunately you will want to make sure that the coverage is very specific about actual value vs replacement value, deductible, depreciation, incident location, security requirements, etc. A common deductible amount is $250, and in a claim the adjuster would likely assess very rapid depreciation to a bicycle; 25-30% per year or more. So if your moderately priced bicycle is more than a few years old you would collect almost nothing on a claim.

There are at least two companies in the United States that offer bicycle insurance plans that are similar in nature to motor vehicle insurance (Markel and Velosurance). Because companies and plans come and go, you should just use your preferred search engine for terms like "US Bicycle Insurance".

The few specialized policies that are available differ significantly, so you would want to compare them closely. That said, you should be able to purchase policies in the US now that cover:

  • Liability if you are at fault (you crash your bike into someone or something and cause damage).
  • Your out of pocket expenses if you are injured in an accident for which a liability cannot be established (like a hit and run).
  • Damage to your bicycle if you crash and it's your own fault (similar to comprehensive/collision car insurance).

That said, when I have looked into it, bicycle insurance was comparatively expensive. It made far more sense for me to self insure the bicycle against theft/damage by creating a "new bike fund" and just paying myself. My health insurance covers me if I am injured. If you have significant assets, like a nice home and car, and you are worried about being sued for causing damage while bicycling, you could look into a general personal liability (umbrella) policy.

Coverage for theft or damage to a rental bike you are using may be available when you rent the bike. In addition, many credit card issuers in the US have "purchase protection plans", but you would have to check with your card issuer regarding coverage. Liability coverage for damage or loss that you cause to others or other property would fall under an umbrella liability policy as above.

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