Is There a Florida Insurance Company that will Cover My Bike?

One of the most common questions I get from cyclists is how to insure a bike if it’s damaged or stolen. In my experience, homeowners and renters insurance policies might cover some of your bike damages from an accident, but not all of them. Remember, if it’s covered on your homeowners policy, there will be a reduction based on its age (depreciation) and your deductible. That could cost you a lot. In addition, it’s a claim on your policy and could affect your rates.

Velosurance, a new bike-focused insurance company, creates policies to protect cyclists’ bikes without affecting their homeowners insurance rates. Velosurance policies start at $100 a year, but the insurance covers all crash-related bike repairs, which could cost thousands of dollars. Also, if your bike is stolen and you have Velosurance, you only pay a small deductible. A big savings compared to your homeowners policy.  

I recently spoke to owner, Dave Williams, about his Florida-based bike insurance business. Their quote for my Specialized bike was pennies compared to how much I would have to pay for a new bike if I was involved in a crash. If you are concerned about having to pay out-of-pocket repairs for your bike after a crash, it’s worth checking out.

If you have been injured while cycling and have a question I could help you with, feel free to call my office.

Jim Dodson
A Florida injury lawyer, family man and avid cyclist who clients have trusted for over 25 years.
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