Does Homeowners Insurance Cover Road Bikes?

Homeowners insurance covers road bikes in a number of unfortunate circumstances-including events like theft, vandalism, and fires. 

Let’s take a ride through the twists and turns of homeowners insurance for your road bike, and consider how it could come in handy for any bumps in your path.

Why do I need insurance for my road bike?

Whether you’re just a casual rider or cycling is life, homeowners insurance could cover your road bike against a lot of potential dangers.

Personal property coverage – meaning insurance for “your stuff”-could cover your bike if it’s stolen from your apartment, or if it gets smashed by a reckless driver while it’s attached to the back of your car.

How much homeowners insurance coverage you actually need for your road bike will depend on the value of your bike. A sophisticated Cervélo with all the bells and whistles, for instance, will likely need more coverage than a standard Schwinn. 

What damages to my road bike are covered by homeowners insurance?

A Lemonade homeowners policy could cover your bike against 16 different named perils (aka the bad things, listed out in your policy, that could happen to your stuff). 

Here are a few scenarios where homeowners insurance could come to the rescue:

• Theft: A thief swipes your locked Bianchi right off the rack while you’re taking a much needed, mid-ride carbo-load at the local donut shop. (Still, make sure to check out these tips for avoiding bicycle theft.)
• Vandalism: A vandal slashes your tires and seat while your bike is locked outside your apartment overnight. 
• Collision by a car: Your road bike is smashed in a hit and run in the grocery store parking lot. Your policy could also potentially protect your bike if you were to accidentally smash it with your own car. (Although accidental damage generally isn’t covered by your base policy, vehicle peril could come into play here.)

Even if you try to take every safety precaution while riding your road bike, shit happens. If you cause a bike accident that injures another person, or damages their property, your homeowners insurance liability coverage could help cover the other person’s medical bills, or the costs to repair or replace their property, related to the accident.

What damages to my road bike are not covered by homeowners insurance?

Here are a few road bike scenarios that homeowners insurance likely won’t cover:

• Accidental damage: You’re riding along trying to get the perfect cycling selfie when you hit a bump in the road and flip your bike, damaging its frame. As cool as your pic might look on the ’gram, “crash from selfie” probably won’t be covered. You also likely won’t be covered if another cyclist crashes into your road bike and accidentally damages it, since crash damage isn’t a named peril.
• Mysterious loss: If you simply misplace your bike, it likely won’t be covered.
• Medical bills related to an accident: If you get a bike-related injury, homeowners insurance won’t cover your medical expenses from the incident; that would be your health insurance.

Where is my road bike covered?

Homeowners insurance could cover your bike just about anywhere it is-whether it’s secured inside your home or garage, locked on a bike rack outside a motel during a cross-country bike trip, or with you on a tour of the French Alps. 

That’s right: a Lemonade homeowners policy covers your road bike in every US state and abroad.

What is my out-of-pocket cost if my bike is stolen or damaged?

When you file an eligible claim, your homeowners insurance will either help reimburse the costs to repair your bike, or to replace it with a new bike of the exact make and model, if it’s been stolen or damaged beyond repair. 

Don’t forget that for every covered claim, you still need to pay your homeowners insurance deductible – which is essentially your contribution to the claim. 

When you buy a Lemonade homeowners policy, you have the option of choosing from several deductible options, ranging from $250 to $2,500.

What additional coverage can I get for my road bike?

​​Extra Coverage (aka scheduled personal property in insurance jargon) for your road bike expands insurance protection and is especially advisable if you have an expensive bike.

Extra Coverage allows you to schedule your bicycle for the full amount it’s worth–which could offer some serious peace of mind if you have top-of-the-line wheels. If, for instance, you have $10,000 worth of personal property coverage, but that includes your $8,000 Trek Emonda SLR 7, it’s probably time to update your coverage.

And, unlike your base policy, Extra Coverage protects you in cases of accidental damage and mysterious loss. Whether you unwittingly forget your bike on the subway, or accidentally crash it into a fence, your scheduled coverage could protect your road bike against these types of losses or damages. 

Plus, with Extra Coverage with Lemonade, you will not have to pay a deductible.

To add Extra Coverage for your road bike to your Lemonade homeowners policy, you’ll just need to provide some simple documentation. We’ll ask for:

• Some good photos of your bike
• The original receipt, or a screenshot and link to a retailer selling the same product if you don’t have the original
• Your bike’s serial number and model number

Are there any exclusions to Extra Coverage for my road bike?

Extra Coverage offers some pretty sweet protection for cyclists, but it doesn’t render you totally invincible.

Here are some cases where scheduled coverage wouldn’t apply:

• General wear and tear: If you’re putting in the miles–and maybe even cycling in extreme weather – chances are your road bike is going to accumulate some damage from wear and tear. You likely won’t get reimbursed by your homeowners insurance for bike maintenance issues.
• Professional use: Extra Coverage isn’t an option if you use your bike for your job. That means if you’re a professional bike racer, a delivery rider, or a bike messenger, you’ll want to seek out other options that homeowners insurance doesn’t offer-such as stand-alone bike insurance. 

Here’s a handy chart that compares coverage between a basic Lemonade homeowners policy and our Extra Coverage option.

	Lemonade Base Policy	Lemonade Extra Coverage
Accidental damage	No	Yes
Mysterious loss	No	Yes
Theft from your home	Yes	Yes
Theft outside of your home	Yes	Yes
Vandalism	Yes	Yes
Basic wear & tear	No	No
Racing coverage	No	No
Deductible?	Yes	No

FAQs about road bikes

Before we hit the road…

Dealing with a damaged or stolen bike is a major hassle, but getting your insurance quote from Lemonade is quick, easy, and–dare we say it–even kind of fun. 

Just click the link below to get started with your quote. Or, if you already have a policy with us but want to add Extra Coverage, just head to the Lemonade app and select the Extra Coverage option under the ‘Add-ons’ header. Ride safe!

A few quick words, because we <3 our lawyers: This post is general in nature, and any statement in it doesn’t alter the terms, conditions, exclusions, or limitations of the policies issued, which differ according to your state of residence. You’re encouraged to discuss your specific circumstances with your own professional advisors. The purpose of this post is merely to provide you with info and insights you can use to make such discussions more productive! Naturally, all comments by, or references to, third parties represent their own views, and Lemonade assumes no responsibility for them. Coverage may not be available in all states. Please note that statements about coverages, policy management, claims processes, Giveback, and customer support apply to policies underwritten by Lemonade Insurance Company or Metromile Insurance Company, a Lemonade company, sold by Lemonade Insurance Agency, LLC.  The statements do not apply to policies underwritten by other carriers.