The Same Stolen Bike, Two Policies
Enter the bike, your home policy's deductible and valuation method, and see both payouts side by side.
What Each Policy Pays
| Line | Home policy | Bike policy |
|---|---|---|
| Starting value | $2,450 | $3,500 |
| Minus deductible | -$1,000 | -$200 |
| Claim payout | $1,450 | $3,300 |
| Minus premium increase | $0 | $0 |
| Net to you | $1,450 | $3,300 |
Also on the home side: the claim goes on your home insurance record. A claim on a standalone bike policy does not. Read your own policy before you count on either number: contents sublimits, valuation method, and motor exclusions vary by insurer.
How It Works
Three things shrink a home policy payout for a bike: depreciation, a deductible sized for a house, and what the claim does to next year's premium.
The Formula
Depreciated value = replacement value x (1 - depreciation rate x age), floor 10% of value Home policy payout = depreciated value (or replacement value) - home deductible, never below $0 Home policy net = payout - (premium increase x years it lasts) Bike policy net = stated value - bike policy deductibleThe home policy column uses straight-line depreciation when the policy pays actual cash value: a fixed percentage of the replacement value comes off for each year of age, stopping at a 10% floor. A replacement cost policy skips depreciation and pays the replacement value minus the deductible. The surcharge line is yours to fill in; it is set to $0 because the figure depends on the insurer and the state, and some states limit surcharges after a single claim.
The bike policy column is the Velosurance total loss math: the bike is insured at stated value with no depreciation, so the claim starts from the value you declared and subtracts only the deductible you chose. Theft is covered subject to the policy's locking conditions, and every theft claim needs a police report.
A Worked Example
A three-year-old $3,500 bike on a home policy that pays actual cash value at 10% a year is worth $2,450 to the insurer. After a $1,000 deductible the check is $1,450. If the claim adds $150 a year to the premium for three years, the net is $1,000. The same bike on a bike policy with a $200 deductible pays $3,300, and the home policy never hears about it. With an e-bike on a home policy that excludes motors, the first column is $0.
What the Calculator Does Not Model
Some home policies cap bicycles or sporting goods at a sublimit, and a few exclude theft away from the premises. Both make the home column smaller than shown. Read the declarations page and the exclusions before you decide; the full comparison is on Velosurance vs. homeowners insurance and, for renters, Velosurance vs. renters insurance. To set the stated value for the bike column, use the bike insurance value calculator.
Frequently Asked Questions
- How does a stated-value bike policy pay a total loss?
- A total loss pays the value you insured the bike for, minus your deductible, with no deduction for age. A bike insured for $3,500 with a $200 deductible pays $3,300 whether it is three months old or three years old. The stolen bike needs a police report filed the same day, and receipts prove the value you declared.
- What does depreciation do to a claim payout?
- Depreciation is a hidden deductible that grows every year. A policy that pays actual cash value takes the replacement cost and subtracts a percentage for each year of age before applying the deductible, so a $3,500 bike that is three years old on a 10% schedule is worth $2,450 to that insurer before the deductible. A stated-value policy skips that step: the declared value is the starting point at any age.
- Does a bike insurance claim affect my other insurance?
- A claim on a standalone bicycle policy stays on that policy. It is a separate contract with its own claims history, so a stolen bike does not land on your home insurance record or feed into that policy's renewal pricing. The bike policy pays first for the bike, as primary coverage, rather than after another policy's deductible.
- Does the bike policy cover Class 1, Class 2, and Class 3 e-bikes?
- Yes. Class 1 (pedal assist to 20 mph), Class 2 (throttle to 20 mph), and Class 3 (pedal assist to 28 mph) e-bikes are insured at stated value with no depreciation, under the same theft, crash, and transit terms as a conventional bike. The motor and battery count toward the value. High-power electric dirt bikes are not covered.
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Keep the bike claim off your home policy
A standalone bike policy pays stated value with no depreciation, with a deductible you choose, from $9 a month. See your price in minutes.
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