How do I value my bicycle?

Last updated July 30, 2026

Insure the bike for what you actually spent on it: the purchase price plus any accessories or component upgrades you added later. Velosurance is a stated value-replacement cost policy, which means you state the value, back it up with receipts, and that is what the bike is insured for, minus your deductible, with no deduction for age or depreciation.

The value is not locked in on day one. You can make value changes at any time during the policy period in the Client Portal if you add accessories or make upgrades, so the coverage keeps pace with the bike you actually ride.

How much do I get paid in a total loss?

In a total loss situation (think theft), the policy will reimburse up to the insured amount that can be proven through documentation (receipts). Example: a bike purchased for $3000 with $500 worth of accessories has an insurable value of $3500, and in the case of a total loss you will be reimbursed up to $3500 less the deductible that you chose, so you can replace the stolen bike with a bike of like, kind, and quality. Receipts will be required to prove the bike's ownership. The payout mechanics are in how a total loss is paid.

What if the bike is repairable?

In a partial loss situation, where the damage to the bike is less than the insured amount, the policy will reimburse the full cost of repairs, including parts and labor, less the chosen deductible. The claim steps, from estimate to payment, are in repairing a covered bike.