BikeInsure vs Markel

Bicycles and e-bikes require separate insurance, known as standalone bike insurance. This type of primary insurance, like BikeInsure, covers the risks of riding, transit, and theft. According to insure.com, primary insurance is the first company responsible for paying claims.
In contrast to some competitors, BikeInsure does not require you to make a homeowner or renter insurance claim first. Making a claim with separate insurance, such as BikeInsure, won't affect other insurance policies.

Insurance experts recommend that homeowners view home insurance as protection against significant losses rather than as coverage for items like bicycles, even with a scheduled insurance rider.

Facts about homeowners insurance:

Deductible: A standard deductible for homeowner's insurance usually ranges from $500 to $2,500, with higher-valued homes sometimes having deductibles of $5,000 or more.

Premium increase: When a homeowner files a claim, the insurance premiums often increase significantly during policy renewal.

Non-Renewal: Insurance companies may choose not to renew (CANCEL) a policy if multiple claims are filed within three years, even if the homeowner has consistently paid their premiums.

CLUE Report: Lastly, insurance companies use a database called CLUE (Comprehensive Loss Underwriting Exchange) to access consumer claims information when underwriting or rating an insurance policy, which can affect a homeowner's eligibility for coverage.

Bicycles: Home insurance often does not provide sufficient coverage for bicycles.

Electric Bikes: Typically, electric bikes have a home insurance exclusion.

Signing up for a BikeInsure plan is a quick and easy process that takes only two minutes to complete.

Unlike some other bicycle insurance companies, BikeInsure does not require the following:

• No credit reports are required.
• No social security numbers are requested.
• No credit-based insurance scores are necessary.
• No additional underwriting requirements.

When enrolling your bicycle or e-bike in a BikeInsure plan, you can include any additional attached accessories such as bags, bottle cages, cameras, computers, lights, mounted pumps, and radar in the "List Bike Accessories" section under "Bike Information." You can also list non-stock attached components like the groupset (gruppo), pedals, power meter, saddle, and wheelset. These accessories and components will become part of the scheduled bicycle definition and factor into the bike's overall value.

BikeInsure maintains 'secured property' language, while another bike insurance policy offers narrower coverage, stating that the bike must be "secured to an immovable object with an appropriate security locking device." Another bike insurance company has the narrowest requirement, specifying that the bicycle "must be locked by an approved lock to an immovable object."

BikeInsure is the official bike insurance provider for every prominent cycling organization in the United States, including USA Cycling, International Mountain Bicycling Association, USA Triathlon, League of American Bicyclists, and Adventure Cycling Association. These esteemed cycling organizations endorse BikeInsure, confirming that it offers the best bike insurance, along with top-notch customer service.

Bicycle and e-bike owners must obtain separate bike insurance for comprehensive bicycle or eBike investment protection. A BikeInsure policy mitigates the costly financial risks related to riding, transit, and theft that all bike owners face.

BikeInsure is America's Best Comprehensive Bicycle Insurance, offering the original 'Fixed-Price' bicycle insurance it pioneered, available nationwide.

BikeInsure offers one of the only two bicycle insurance policies that cover bicycles and electric bikes, which have received approval from every state insurance department across the United States. You can compare the other policy from Markel here.

BikeInsure it, then Ride it!