What Should You Insure Your Bike For?
Enter what you paid for the bike and everything you have bolted on since. The result updates as you type.
Your Stated Value
| If the bike is | The claim pays |
|---|---|
| Stolen or totaled (total loss) | $3,300 |
| Damaged, $1,200 repair | $1,000 |
| Damaged, repair under the deductible | $0, you pay the shop |
A total loss pays the value you insured it for, minus the deductible, with no depreciation for age. A repair claim pays parts and labor minus the deductible. Receipts prove the value at claim time.
How It Works
The policy is stated value: you declare the number, back it up with receipts, and that is what a total loss pays.
The Formula
Stated value = purchase price + upgrades + accessories on the bike (rounded up to the nearest $50) Total loss payout = stated value - deductible Repair payout = repair cost (parts and labor) - deductibleVelosurance insures a bike at stated value with no depreciation. The number you declare on the quote, backed by receipts, is the number a theft or a totaled frame pays, minus the deductible you chose. Age never shrinks the payout, so the only way to be underpaid is to understate the value on day one. This calculator exists to stop that.
What Counts
The bicycle, as the policy defines it, includes its fixed accessories and removable parts. Count the complete bike as you bought it, every component you have swapped in since (wheels, drivetrain, power meter, cockpit, saddle, pedals), and the accessories that live on it: computer and mounts, lights, racks, bags, a child seat, and your locks. If you bought the bike used, start from the price you paid and add what you have put into it.
Two things stay out. Spare parts that are not on the bike, such as a second wheelset or a spare battery, are covered on their own terms, at actual cash value up to $500 per loss with a $1,000 policy term limit. Cycling apparel (helmet, shoes, eyewear, gloves, bibs) lost in the same covered loss has its own $500 per loss and $1,000 policy term limit. Neither belongs in the bike's stated value.
A Worked Example
A $3,000 gravel bike with a $250 computer and lights, a $100 lock, and a $150 rack and bag has a stated value of $3,500. With a $200 deductible, a theft pays $3,300. A crash that costs $1,200 to repair pays $1,000. Add a $1,400 wheelset next spring and the stated value becomes $4,900; update it in the client portal the week the wheels arrive, because the policy pays up to the value on file, not the value in your garage.
Picking a Deductible
The deductible is your share of each covered loss. A higher deductible lowers the premium and raises your share of every claim. Pick the amount you could pay without wincing; the quote shows the premium change for each option before you buy. For a repair that costs less than the deductible, pay the shop and skip the claim. More on the mechanics in what is a deductible and how to value your bicycle.
Frequently Asked Questions
- What should I include in my bike's insured value?
- Insure the bike for what you actually spent on it: the purchase price plus every component upgrade and accessory you added later, such as wheels, a power meter, lights, racks, and locks. The policy is stated value, so the number you declare, backed by receipts, is the number a total loss pays, minus your deductible. Keep the receipts in one folder.
- Does the insured value of my bike depreciate over time?
- Your bike stays insured at the value you stated for the life of the policy, with no deduction for age. A three-year-old bike insured for $4,000 pays $4,000 minus the deductible on a total loss, the same as a new one. The caveat worth knowing: the value does not rise on its own either, so update it when you add an upgrade.
- Can I change the insured value after I buy the policy?
- Yes. You can raise the insured value at any time during the policy period in the client portal, for example after a wheel upgrade or a new drivetrain. A newly acquired bike is covered when you notify Velosurance within 30 days of buying it. Run this calculator again after each upgrade and submit the new total.
- Do spare parts and cycling apparel count toward the bike's value?
- Spare parts and apparel are covered on their own terms rather than inside the bike's stated value. Spare parts, such as a second wheelset, are covered at actual cash value up to $500 per loss with a $1,000 policy term limit, and cycling apparel lost in the same covered loss has its own $500 per loss and $1,000 policy term limit. Fixed accessories and removable parts that live on the bike go into the stated value; spares do not.
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Insure your bike for the number above
Stated value, no depreciation, and theft, crash, and transit coverage in the core policy. Policies start at $9 a month. Enter your value and see the price in minutes.
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