What is a premium?
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A premium is the money you pay the insurance company for an insurance policy. Bicycle insurance premiums are based on the bike's value, use, location, and the duration of the riding season.
You see the number before you commit: run a quote and your exact premium comes back in seconds, with coverage available for purchase on the last step.
Which factors set the premium?
The bike's value, use, your location, and the length of the riding season do the work. Riders in northern states pay lower premiums based on a limited riding season: fewer riding months mean less risk. The complete list of inputs, from bike type and construction material to the coverages you select, is in how your premium is calculated.
What is the minimum premium?
The minimum premium for a Velosurance policy is $100 per year. The same $100 is the policy's minimum earned premium, the minimum cost of any policy: once you have paid it, the policy can be cancelled on a prorated basis with any unused premium returned to you. The details are in what a Minimum Earned Premium is.
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