Bicycle insurance: we’ve got your back!

June 12, 2023

Your bike can sometimes feel like an extended part of you. You spend so much time riding it, looking after it, and investing money in it, that were it to ever get damaged or stolen, it would be pretty devastating. That’s why, in the same way people take out car insurance, having bike insurance is a great way to make sure your bike always has cover against any damages and theft.

What is cycling insurance, and why do I need it?

Many people take out some sort of home insurance policy to cover the contents of their home, but usually these only partially cover the value of your bike if it’s stolen. Specialist bicycle insurance offers similar options, but with a much more complete coverage specific to you and your bike.

When you compare bicycle insurance options trying to find the best bicycle insurance on offer, you’ll find many kinds ranging from cheap bicycle insurance for a very small monthly or yearly rate, to more expensive coverage, which can cover not only damage and theft, but also even medical payments should you be injured in a crash, or injure someone else.

Bike thefts can happen anytime, and anywhere

Bike theft is the number one reason people get insurance for bicycles. It’s such a common occurrence – especially in big cities and urban areas. For example, around 30 bikes are stolen every hour in Germany (an astonishing 600,000 a year), while one is stolen every minute in the UK, and every 30 seconds in the US. And frustratingly, the chances of recovering stolen bikes are usually very low.

Even if you have a strong bike lock, it can be a challenge to totally secure your bike, not only on the streets, but also at home – thieves regularly steal bikes from underground garages, inner courtyards and even locked garages.

Bikes can get easily damaged

What’s more, there are a whole variety of ways your bike can get damaged – for example, paintwork can be chipped by stones when out riding, or scratched by other bikes when parked. A crash can buckle wheel rims, electronics in e-bikes can fail, or tyres can get vandalised when a bike is parked in the street.

Bike rentals are a good alternative to avoiding theft and damages

Perhaps the best way of avoiding your own bike being stolen or damaged is to rent a bike when on holiday, attending events or commuting. But even when you take out a bike rental, it can play on your mind if it might get stolen or damaged on your bike trip, leading you to constantly wonder, ‘is my bike insured?’

That’s why all rentals with ListNRide in the European Economic Area (EEA) are always insured. In fact, coverage is not an option – it’s an integral part of the rental.

ListNRide and Laka have your bike rental covered

ListNRide’s collaboration with Laka bicycle insurance provides coverage for all kinds of bikes – including cargo bikes and electric bicycle insurance for e-bikes – should the worst happen and your rental bike gets stolen or damaged. What’s more, there is emergency cover of up to 200 euros in expenses.

A smart new way to insure your private bike

Whether you own a rusting, second-hand city runaround, or an expensive, high spec road bike – we think all bikes deserve the protection of bike insurance, because we all treasure our bikes.

That’s the thinking behind Laka’s principle of participative insurance – affordable, community bicycle insurance for everyone, for any kind of bike. If you’ve been searching online and considering how much is bicycle insurance in the UK, Germany or Netherlands, for example, be sure to have a look at Laka’s low-cost offer – it’s actually a kind of revolutionary insurance for your bike.

The fewer the claims, the less you pay

Basically, there are no fixed contributions – the fewer reported claims there are from the Laka community, the less you pay. You won’t ever pay more than your fixed upper limit, and if there aren’t any reported claims in the month, then you (and the community) won’t pay anything. Genius, right?

1. Theft

Your bikes and accessories will be insured against theft, no matter where you are in the world, if it has been secured with a lock that has at least an ART (category 2 or higher) seal of approval or Sold Secure gold certification.

2. Damage
Your bikes and accessories are also covered from damage as a result of collisions and falls, or other sudden or unforeseeable damage. This also applies to accidental damage to your bike or accessories by third parties, for example an airline or a freight company.

3. Vandalism
If someone tampers with your bike, Laka will take care of any repairs or replacements.

4. Travel
Your bikes and accessories are insured when traveling worldwide for up to 120 consecutive days.

5. In the car

With Laka, your bike will also be covered if it’s inside a locked car – even if the bike itself is not locked.

Ultimately, having bicycle insurance will give you peace of mind

If something does happen to you, Laka will help get you back in the saddle as soon as possible. Claims are usually processed within one day, and if necessary, they’ll even cover the cost of a rental bike. More than anything, it’ll give you peace of mind. But don’t just take out word for it:

“I’ve had two city bikes stolen – it’s really depressing to come home and see that your bike is gone. My neighbor’s bike – a brand new electric bike bought as a gift for his wife – was also stolen two days after purchase, from a secure storage area in our backyard.

“I think it’s essential that people are aware of the risks to bikes, and know how to keep them safe. However, even if you take all the precautions, thefts can still happen, which is why I feel more relaxed now that my new bike is insured by Laka.” Lea, Laka customer

It’s a good idea to insure your bike, and yourself

Of course, it’s always a good idea to take out a separate bicycle medical insurance too, in case you get injured, especially in countries such as the UK and the US, where it is not mandatory to be well covered. And when considering what insurance covers bicycle accidents should you injure someone else with your bike, it’s possible to be protected from costs you could owe to a third party by making sure you have bicycle liability insurance.

Tips for securing your bike

1. Make sure you buy a heavy-duty bike lock, or preferably two. Stronger locks can make it more off-putting and difficult for a thief to steal your bike.

2. When leaving your bike on the street, try to park it in a well-lit area, where it can be easily seen by passers-by.

3. Lock both wheels and the frame of your bike to an immoveable object, such as a cycle stand or lamppost.

4. Marking your bike with a unique code will help the police to trace your bike back to you if it is stolen and recovered.

5. Don’t forget, whenever your bike is left unattended away from a private storage location, it must be locked to an immovable object using a Sold Gold Secure or an ART (category 2 or higher) approved lock, otherwise theft won’t be covered.

If you think about trying out the bicycle insurance, we have a little something for you! Exclusively for ListNRide users, you now get 45 days of free coverage! Redeem today using code: LISTNRIDE45. Seize the moment to secure your ride!

And to avoid all the stress, rent a bike with ListNRide rather than using your own, at the risk of having it stolen without insurance!

*Offer is available in the UK, Germany and the Netherlands.

And here’s more info on how to claim bicycle insurance with ListNRide rentals