What is the term period (duration) of a bicycle insurance policy?
Last updated
A Velosurance bicycle insurance policy runs for a term of 12 months. The term period is the window during which your coverage is in effect, and each term runs a full year from your policy's effective date.
Coverage stays in force for the entire term, including the months the bike sits in storage, which is often when theft is the bigger risk. Your premium already accounts for the length of the riding season where you live, so an annual policy is effectively priced around the months you actually ride, which is why we do not sell single-season policies.
What Happens When the 12 Months Are Up?
The policy renews automatically by default. We email you before the renewal date, so you always have a chance to review it and change your mind, and that reminder doubles as a yearly prompt to update your bike's insured value if you have added accessories or upgrades. Keeping the policy for the full term protects your rate as well, because your locked-in rate carries forward while a new policy started later is quoted at current rates.
Can I Cancel Before the Term Ends?
Yes. Request the cancellation through the Client Portal and you will receive a refund of any unused premium, subject to the Minimum Earned Premium of $100. There is no cancellation fee.
Back to all FAQs