Can a repaired bike be insured?Yes, professionally repaired bikes qualify for insurance coverage. Back to FAQ Index >> Was this reply helpful? Related questions Uninsured Motorist Contact Protection This optional coverage protects the insured bicycle rider from medical and other related expenses incurred from a physical contact with a hit-and-run, an uninsured o What is a Minimum Earned Premium? Each policy has a minimum earned premium of $100. This means that the minimum cost for a policy is $100. Is my bike covered if I am rear-ended? If your insured bike is being transported on a vehicle bike rack and is damaged when rear-ended by another car,, then the bike would be covered by the Velosurance policy.